In a significant development reflecting the buoyancy of India’s capital markets, the Securities and Exchange Board of India (SEBI) has approved IPOs of five companies—Veeda Clinical Research, Shringar House of Mangalsutra, RITE Water Solutions India, SeedWorks International, and LCC Projects. These approvals were issued during the week ending 05 July 2025 and indicate a continued uptick in primary market activity amid robust investor appetite and a favourable regulatory climate.
Below is a detailed profile of each company, along with its IPO structure, DRHP filing dates, SEBI approval timelines, and business outlook.
📌 Veeda Clinical Research IPO Approval
- DRHP Filed: 05 February 2025
- SEBI Approval: 03 July 2025
- IPO Type: Fresh Issue + Offer for Sale (OFS)
- IPO Size: Fresh Issue of INR 185 crore; OFS of up to 13 million equity shares
Veeda Clinical Research is a full-service Contract Research Organization (CRO) founded in 2004 and based in Ahmedabad. It provides a wide range of services including bioavailability/bioequivalence (BA/BE) studies, clinical trials, and bioanalytical services, catering to the pharmaceutical and biotechnology industries globally. The company has established a strong client base across the US, Europe, and Asia and operates several accredited clinical sites and laboratories.
The proceeds from the fresh issue will be used for capacity expansion, technological upgrades, debt repayment, and general corporate purposes. The listing is expected to enhance Veeda’s brand visibility and enable greater participation in global drug research projects.
📌 Shringar House of Mangalsutra IPO Approval
- DRHP Filed: 07 February 2025
- SEBI Approval: 04 July 2025
- IPO Type: Fresh Issue
- IPO Size: Up to 2.43 crore equity shares
Shringar House of Mangalsutra, headquartered in Mumbai, is a niche jewellery manufacturer focusing exclusively on designing and producing mangalsutras in various styles using gold, diamonds, and precious stones. The company sells primarily through B2B channels, catering to wholesalers and retailers across India. With in-house manufacturing and design teams, Shringar House has carved a reputation for craftsmanship and traditional aesthetics.
The IPO proceeds are expected to fund working capital requirements, open new design and production units, and improve inventory and logistics systems. The company reported moderate revenues in recent years and aims to use the listing to expand its national footprint and build brand equity in the highly competitive jewellery sector.
📌 RITE Water IPO Approval
- DRHP Filed: 10 February 2025
- SEBI Approval: 04 July 2025
- IPO Type: Fresh Issue + OFS
- IPO Size: INR 300 crore (Fresh Issue) + INR 445 crore (OFS) = INR 745 crore
Nagpur-based RITE Water Solutions specializes in decentralized water treatment technologies for rural and semi-urban communities. The company designs, installs, and maintains water purification and disinfection systems for government and public sector clients. With a strong emphasis on social impact and sustainability, RITE has delivered over 5,000 installations across 16 states.
The IPO proceeds will be deployed toward expanding the company’s operational infrastructure, executing pending orders, and strengthening its R&D efforts. The OFS allows partial exits for investors such as Water Access Acceleration Fund and promoter Mukul Agrawal. The IPO positions RITE Water to scale amid increasing government focus on clean water access and sanitation under programs like the Jal Jeevan Mission.
📌 SeedWorks International IPO Approval
- DRHP Filed: 17 February 2025
- SEBI Approval: 04 July 2025
- IPO Type: Offer for Sale (OFS)
- IPO Size: Up to 5.19 crore equity shares
Hyderabad-based SeedWorks International is a leading player in the agricultural biotechnology space, with operations spanning seed research, development, and distribution for crops like hybrid rice, cotton, and vegetables. The company has developed strong in-house R&D capabilities and has grown steadily under the leadership of private equity backers such as True North and South Asia Growth Fund.
As a pure OFS, the IPO will not raise fresh capital for the company but will allow current shareholders to partially monetize their holdings. The listing is expected to improve brand visibility, boost investor confidence, and facilitate future fundraising efforts. SeedWorks aims to expand its product portfolio and deepen its presence in underserved agricultural regions in India and Southeast Asia.
📌 LCC Projects IPO Approval
- DRHP Filed: 27 February 2025
- SEBI Approval: 03 July 2025
- IPO Type: Fresh Issue (INR 320 crore) + OFS (2,29,40,000 equity shares)
LCC Projects is a Gujarat-based infrastructure company engaged in the construction of roads, highways, and bridges for government clients under EPC and hybrid annuity models. The company has built a solid order book over the years, working with entities like the National Highways Authority of India (NHAI) and state PWDs.
The IPO proceeds will likely go towards equipment upgrades, project execution funding, and balance sheet strengthening. A public listing would support LCC’s ambitions to bid for larger projects and improve its competitive positioning in the national infrastructure landscape.
📊 Conclusion
SEBI’s recent nod to these five IPOs signals a strong pipeline for India’s equity markets in H2 2025. The approvals reflect both investor interest and regulatory confidence across diverse industries—from high-margin pharma research to grassroots water solutions and consumer-focused jewellery. With several companies looking to raise growth capital and others facilitating partial exits for existing investors, these IPOs are expected to attract varied market participants including retail, HNIs, and institutional investors.
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