Capital market regulator Sebi has cleared initial public offerings (IPOs) of six companies, namely Ivalue Infosolutions Ltd, Ather Energy Ltd, Oswal Pumps Ltd, Quality Power Electrical Equipments Ltd, Fabtech Technologies Ltd and Schloss Bangalore (Leela Palaces Hotels’ parent).
Ivalue and Aether got their observations issued on December 23, 2024, while Quality Power and Fabtech received the same on December 27, data available with Securities and Exchange Board of India showed. Oswal Pumps and Schloss Bangalore were was secured on December 24 and December 26, respectively.
As per Sebi, the issuance of an observation letter on the IPO draft papers implies that a company can launch its initial share sale within the next one year from the receipt of letter.
Five out of these six mentioned IPOs are fresh issuance and offer-for-sale (OFS). Only Ivalue is a purely an OFS issue.
In a separate development, Pantomath Group recently said India emerged as the leader in IPO volume, hosting twice as many IPOs as the United States (US) and 2.5 times more than Europe.
“76 companies raised Rs 1.3 lakh crore in the first 11 months of 2024. Favorable regulatory reforms and investor confidence fueled market momentum, even during downturns,” the financial services firm stated.
“With the continued momentum in the markets, we now project that equity raised through IPOs will cross Rs 2 lakh crore in the year 2025. This milestone is a testament to the resilience of India’s capital markets, the confidence of investors, and the critical role IPOs play in fueling economic growth,” said Mahavir Lunawat, Managing Director of Pantomath Capital.
Pantomath mentioned that the global IPO market recorded 1,215 deals raising $121.2 billion, slightly below 2023 levels. “However, the second half of 2024 witnessed improved performance, with the US reclaiming the top spot for IPO proceeds and a record 55% participation from foreign issuers,” it added.
