SEBI has given IPO approval to 3 companies—GNG Electronics (Electronics Bazaar), Amanta Healthcare, and Glottis. These approvals in the week of 16-20 June 2025 indicate a pick up in IPO activity especially among mid-sized companies in healthcare, technology and logistics space.
With these newbies getting observation letters, investors can expect a fresh set of opportunities in the coming months. Here’s a quick look at each company, its IPO structure and what it brings to the markets.
Electronics Bazaar IPO Approval
DRHP Filing Date: 25 March 2025
SEBI Approval Date: 20 June 2025
IPO Type: Fresh Issue + Offer for Sale (OFS)
Estimated IPO Size: ~INR 450 crore (fresh issue); OFS by existing shareholders
Leading player in the refurbished electronics market, GNG Electronics IPO approval received on 20 June 2025. The IPO comprises fresh issue of ~INR 450 crore and Offer for Sale (OFS) of 51,00,000 equity shares by existing shareholders. A balanced structure to raise funds and partial promoter exit.
Backed by Motilal Oswal Investment Advisors as the book-running lead manager, the company will use the net proceeds to repay outstanding borrowings, fund working capital requirements and general corporate purposes. GNG’s DRHP filed on 25 Mar 2025 shows the growing interest of investors in sustainable electronics and circular economy space – a space which is gaining traction due to increasing environmental consciousness and affordability driven demand.
The company’s business model is around refurbishing and reselling of laptops, desktops and IT peripherals to institutional and retail clients. With India’s digital infrastructure expanding and emphasis on affordable computing, GNG’s IPO can see strong demand from both retail and institutional segment. The offer is expected to hit the market in H2 2025 subject to final regulatory and exchange approvals.
Amanta Healthcare IPO Approval
DRHP Filing Date: 10 February 2025
SEBI Approval Date: 19 June 2025
IPO Type: 100% Fresh Issue
Issue Size: Up to 1.25 crore equity shares (Face Value: INR 10)
Amanta Healthcare, a sterile injectables and IV fluids manufacturer based in Ahmedabad, got SEBI approval on 19th June 2025 for its upcoming IPO. The issue will be a fresh issue of up to 12.5 million equity shares. There is no OFS, so the promoters are looking to retain their stake and raise capital to fund business growth.
The company filed the DRHP on 10th Feb 2025 and plans to use the IPO proceeds to enhance production capacity at its Hariyala (Gujarat) plant. The key projects are setting up a new SteriPort line (INR 70 crore) and SVP (Small Volume Parenterals) line (INR 30 crore). Amanta has already established a strong domestic and international presence, catering to regulated and emerging markets with high quality injectable products.
Beeline Capital Advisors is the book running lead manager and Link Intime is the registrar. The IPO is likely to attract healthcare focused funds and retail investors given the post pandemic boom in pharma manufacturing and India’s push for self reliance in healthcare. Investors should watch this issue for both fundamental value and listing gains.
Glottis IPO Approval
DRHP Filing Date: 10 February 2025
SEBI Approval Date: 16 June 2025
IPO Type: Fresh Issue + Offer for Sale (OFS)
IPO Size: Fresh Issue of INR 200 crore + OFS of 1.46 crore shares
Glottis, a Chennai-headquartered logistics and supply chain services company, received SEBI’s go-ahead on 16 June 2025. The IPO consists of a fresh equity issue of INR 160 crore and an OFS comprising 14.57 million shares, predominantly by promoters Ramkumar Senthilvel and Kuttappan Manikandan, who are jointly offering their stakes.
The DRHP outlines that the net proceeds will be used primarily for expanding fleet capacity, repayment of debt (~INR 38 crore), and general working capital needs. Of the total fresh capital, approximately INR 53 crore will be directed toward fleet augmentation, a move expected to enhance Glottis’ pan-India logistical footprint.
With Pantomath Capital Advisors as the lead manager, Glottis is positioning itself to capitalize on India’s growing e-commerce, retail, and industrial distribution needs. The company’s revenue growth over the last three years has been steady, supported by long-term contracts with FMCG and industrial clients. The IPO comes at a time when the Indian logistics sector is undergoing a tech-led transformation, making Glottis a compelling proposition for investors looking to tap into the infrastructure growth story.
Conclusion
SEBI approvals to GNG Electronics, Amanta Healthcare and Glottis Limited shows SEBI is clearing more growth oriented companies for listing. These companies are in key growth sectors—technology, healthcare and logistics and offer investors a diverse set of opportunities.
Each IPO is different: GNG and Glottis are hybrid with fresh issue and OFS, while Amanta is a pure fund raise. As these companies get closer to listing, their roadshows, pricing and investor interest will give us more insights into the Indian markets in H2 2025.
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