The Securities and Exchange Board of India (SEBI) gives the green light to four Indian companies—BlueStone Jewellery, GK Energy, Aye Finance and Anthem Biosciences. It is a significant development for India’s capital markets. That means they can now move forward with their plans to raise capital through public listings—and that’s a crucial step in their growth trajectories.
Bluestone Jewellery IPO Approval
BlueStone Jewellery and Lifestyle is a Bengaluru-based, digital-first fine jewelry brand. It’s known for its modern, design-centric offerings across diamonds, gold, platinum and other precious materials. The company has been given the go-ahead for an IPO. Bluestone filed DRHP on 16 December 2024 and received observation on 1 April 2025. The issue comprises a mix of a fresh issue of INR 1,000 crore and an offer for sale of 2.39 crore shares. Accel India, Saama Capital, Kalaari Capital Partners, IvyCap Ventures Trust and Iron Pillar Fund are among those participating in the OFS. The fresh issue proceeds will be used for business expansion and general corporate purposes.
GK Energy IPO Approval
GK Energy is a Pune-based EPC service provider with a focus on solar-powered agricultural water pump systems. GK Energy submits its IPO papers on 17 December 2025 and gets IPO approval on 3 April 2025. The company’s IPO structure includes a fresh issue of INR 500 crore and an OFS of 8.4 million equity shares. Gopal Rajaram Kabra and Mehul Ajit Shah are among the shareholders selling shares as part of the OFS. The fresh proceeds will be used to cover long-term working capital requirements. That’s in line with the government’s PM-KUSUM scheme, which promotes sustainable energy solutions in agriculture.
Aye Finance IPO Approval
Aye Finance is a non-banking financial company (NBFC) based in Gurugram. It caters primarily to the underserved micro, small and medium enterprise (MSME) segment. Aye Finance deposited its paper for IPO on 20 December 2024 and received approval from the regulatory on 3 April 2025.
The company’s IPO features a fresh issue worth INR 885 crore and an OFS of INR 565 crore. That includes investors like LGT Capital Invest Mauritius PCC, CapitalG LP and A91 Emerging Fund I LLP. Aye Finance plans to use the fresh capital to strengthen its balance sheet and fuel future expansion. As of September 2024, the company reported assets under management of INR 4,979.76 crore and served over 5,08,000 active customers.
Anthem Biosciences IPO Approval
Anthem Biosciences is a Bengaluru-based contract research, development and manufacturing organisation (CRDMO). The company submitted the DRHP on 2 January 2025 and got approved on 3 April 2025. Unlike the other three, Anthem’s public issue will be entirely an OFS. The company will sell up to INR 3,395 crore worth of shares by existing promoters and investors. Anthem won’t receive any proceeds from the IPO. But the listing will help enhance shareholder value and visibility in the market.
Conclusion
SEBI’s approvals indicate growing investor interest and regulatory confidence in various sectors – from consumer lifestyle and renewable energy to financial services and pharmaceutical innovation. As these companies get ready to list, their IPOs are expected to attract big interest from institutional and retail investors. A successful execution of these issues will give a big push to India’s IPO pipeline in 2025 and overall economic growth.
In the first three months of 2025, a total of 10 Mainboard (MB) IPOs were listed in the Indian markets. Notably, there were no IPO listings in March 2025. Collectively, these IPOs raised INR 15,983.05 crore. Hexaware Technologies was the biggest IPO in the last 3 months, which raised INR 8,750 crore. Out of the 10 IPOs, three delivered negative listing returns. Despite this, the average listing gain for the period stood at an impressive 17.53%. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.