In a significant development, the Securities and Exchange Board of India (SEBI) has given the green light to six companies to launch their Initial Public Offerings (IPOs). Among the approved firms are electric vehicle pioneer Ather Energy, Ivalue Infosolutions, Oswal Pumps, Quality Power Electrical Equipments, Fabtech Technologies, and luxury hospitality operator Schloss Bangalore. These approvals signal an exciting phase for the Indian market as these companies prepare to raise capital and fuel their growth plans. Here’s a closer look at what’s coming.
Ather Energy’s INR 4,500 Crore IPO Set to Boost EV Expansion
Bangalore-based electric scooter manufacturer Ather Energy is making headlines with SEBI’s approval of its IPO plans, targeting INR 4,500 crore. The offering, filed on 9 September 2024, includes a fresh equity issue worth INR 3,100 crore alongside an offer-for-sale (OFS) of 2.2 crore shares by existing promoters and investors.
Proceeds from the IPO are earmarked for multiple strategic goals—building a new electric vehicle manufacturing plant in Maharashtra, reducing debt, and ramping up research and development efforts. The move follows Ola Electric Mobility’s successful IPO in August, underscoring investor confidence in India’s growing EV industry. Ather Energy’s bold plans could further energize this already buzzing sector.
Ivalue Infosolutions
Bengaluru-based tech solutions provider Ivalue Infosolutions is heading to the markets with a purely offer-for-sale IPO comprising 1.87 crore equity shares. Filed with SEBI on 5 September 2024, the offering stands out for excluding fresh equity issues.
Promoters, who currently hold a 38.67% stake, aim to unlock value while maintaining the company’s operational focus. The IPO will channel proceeds directly to shareholders, keeping Ivalue’s growth trajectory steady without equity dilution. With digital transformation booming, this tech-driven firm might be one to watch.
Oswal Pumps Prepares INR 1,000 Crore IPO for Expansion
Haryana-based Oswal Pumps is another name entering the IPO fray. Filed on 17 September 2024, its draft red herring prospectus outlines a plan to raise INR 1,000 crore. The IPO features a mix of fresh equity and an OFS by promoter Vivek Gupta.
The raised capital will fuel expansion, including setting up new manufacturing units in Karnal, Haryana, and addressing debt repayment. Known for solar-powered and electric pumps, Oswal Pumps’ IPO could provide the resources needed to strengthen its market foothold and diversify its offerings.
Quality Power Electrical Equipments
Electrical solutions provider Quality Power Electrical Equipments is banking on its SEBI-approved IPO to raise INR 225 crore. The approval, granted on 16 September 2024, includes a fresh issue of equity shares and an OFS of 1.2 crore shares by promoter Chitra Pandyan.
Funds from the IPO will fortify the company’s capital base and enable existing shareholders to monetize holdings. With high-voltage electrical equipment in demand, the company plans to scale up operations and support expansion strategies.
Fabtech Technologies
Engineering solutions provider Fabtech Technologies, headquartered in Mumbai, has also secured SEBI’s nod for its IPO. The offering, filed on 14 September 2024, focuses entirely on fresh equity—up to 1.20 crore shares.
Fabtech plans to channel the proceeds toward working capital, acquisitions, and broader corporate purposes. The company is reportedly exploring pre-IPO fundraising to the tune of INR 10 crore, which may add momentum to its plans. Positioned in the pharmaceutical and biotech sectors, Fabtech’s IPO could ride the growth wave in these high-demand industries.
Schloss Bangalore’s INR 5,000 Crore IPO Leads the Pack
Schloss Bangalore, best known for managing luxury hotels under The Leela brand, stands out with the largest IPO among the six approvals. Its INR 5,000 crore IPO, filed on 20 September 2024, combines INR 3,000 crore in fresh equity with an OFS worth INR 2,000 crore from Project Ballet Bangalore Holdings (DIFC).
A significant chunk—around INR 2,700 crore—will go toward debt repayment, with the rest allocated for corporate needs. With India’s hospitality sector recovering and expanding, Schloss Bangalore’s offering could attract investors eyeing premium real estate and tourism.
Diverse IPOs Signal Growth and Opportunity
SEBI’s approval for Ather Energy and 5 others highlight a diverse mix of sectors poised for growth. From electric mobility and tech solutions to manufacturing, engineering, and luxury hospitality, the six companies cater to varied investor interests. These developments also reflect rising confidence in India’s capital markets.
For investors, this wave of IPOs brings opportunities to support innovation and expansion across industries. For the companies, it’s a chance to scale up, pay down debt, and drive operational improvements.
Key Highlights:
- Ather Energy’s INR 4,500 crore IPO underlines growing momentum in India’s EV market.
- Oswal Pumps and Quality Power aim to strengthen manufacturing and electrical solutions.
- Schloss Bangalore’s luxury-focused IPO offers exposure to hospitality and real estate.
With 2024 shaping up as a pivotal year for public offerings, investors can expect more activity and fresh prospects as these IPOs roll out. Keep an eye on the evolving stories behind these companies as they step into the spotlight. For more information related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
