Open & Upcoming IPOs

The mainboard IPO market will remain quiet next week, while the SME segment will see four new IPOs: Desco Infratech, Shri Ahimsa Naturals, ATC Energies, and Identixweb. These SME IPOs aim to raise a total of ₹184.15 crore. Additionally, five new IPOs, including Paradeep Parivahan and Divine Hira Jewellers, will list next week. FY2025 has seen robust IPO activity.

The article highlights several upcoming IPOs in 2025, including LG Electronics, NSDL, Tata Capital, boAt, and JSW Cement, with amounts ranging from ₹2,000 crore to ₹15,000 crore. Market volatility and global factors are influencing IPO activity, with a shift towards strategic positioning, financial discipline, and ESG considerations, emphasizing sustainable growth over speculative valuations.

SSF Plastics India Ltd has filed a DRHP for an IPO, including a fresh issue of ₹300 crore and an offer for sale of ₹250 crore. The company reported ₹15.19 crore profit and ₹397.41 crore revenue for the six months ending September 2024. Proceeds will fund debt repayment, capital expenditures, and corporate needs, with IIFL and Nuvama as lead managers.

Tata Group has appointed 10 investment banks, including Kotak Mahindra Capital, Citi, and JP Morgan, for Tata Capital's over Rs 15,000 crore IPO. The company plans to file draft papers by March-end via the confidential pre-filing route. The IPO will combine primary and secondary share issues, with Tata Sons and IFC likely reducing their stakes. Tata Sons will retain over 75% ownership.

The Active Infrastructures IPO opened on March 21 and will close on March 25, with a price band of ₹178-181 per share. The company, founded in 2007, focuses on infrastructure and commercial construction projects. The IPO consists of a fresh issue of 43,00,200 equity shares to raise ₹77.83 crore, primarily for working capital and loan repayment. On day one, the subscription stood at 4%.

PhysicsWallah, an edtech unicorn, has filed draft IPO papers with Sebi through a confidential pre-filing route, allowing it to withhold public disclosure details. The company, valued at $2.8 billion after raising $210 million in September, may or may not proceed with the IPO. This route offers flexibility, including changing the issue size and an extended timeline for the public offering.

Tuhin Kanta Pandey, SEBI’s new chairman, approved LG Electronics India’s IPO, marking a shift from his predecessor’s rapid reforms to a more balanced regulatory approach. He stressed trust, transparency, and teamwork, aiming to reduce staff stress while ensuring market stability. His leadership signals a focus on measured reforms, fostering long-term investor confidence and regulatory consistency.

The Rapid Fleet IPO opened on March 21 and closes on March 25, with a price band of ₹183-192 per share. The company offers logistics services across industries and has a fleet of over 200 vehicles. The IPO consists of 22.84 lakh shares to raise ₹43.87 crore for vehicle acquisition, working capital, and corporate activities.

LG Electronics India, the country’s second-largest electronics firm, is set for a highly anticipated IPO. As excitement builds, investors are debating whether its premium valuation is justified. The offering is expected to be one of the biggest of the year, reflecting the company’s strong market position but also raising concerns over potential overvaluation.

Jaipur-based Shri Ahimsa Naturals, a crude caffeine processor, will launch its IPO on March 25, aiming to raise Rs 73.81 crore. The issue includes a fresh share sale of 42.03 lakh shares and an offer-for-sale of 19.99 lakh shares by promoters. The price band is Rs 113-119 per share. Proceeds will fund a new manufacturing facility and general corporate purposes.

The Paradeep Parivahan IPO share allotment will be finalized today, March 20. The IPO, which opened on March 17 and closed on March 19, was subscribed 1.78 times. Investors can check their allotment status on Bigshare Services or BSE. Shares will be credited to demat accounts on March 21, with listing on BSE SME scheduled for March 24.

Divine Hira Jewellers IPO share allotment is finalized today, March 20. The IPO, subscribed 3.93 times, opened on March 17 and closed on March 19. Investors can check their allotment status on Bigshare Services or NSE. Shares will be credited on March 21, with refunds starting the same day. Listing is set for March 24 on NSE SME. The GMP is currently ₹7.

Endiya Partners announced a 4x return on its first ₹175 crore fund, driven by partial stake sale in Darwinbox, which recently raised $140 million. The firm has backed startups like Cult.fit and Karkinos, with Kissht and Cult.fit planning IPOs. Endiya’s second and third funds are expanding their portfolios, supported by institutional investors.

Divine Hira Jewellers' IPO, priced at ₹90 per share, opened on March 17 and closed on March 19. The issue comprised 35,37,600 shares to raise ₹31.84 crore for loan repayment, working capital, and corporate purposes. Subscription was 3.93 times overall, with retail at 6.62 times. The grey market premium was ₹7, suggesting a listing price of ₹97.

Desco Infratech, a Gujarat-based infrastructure company, will launch its maiden IPO on March 24, offering 20.5 lakh shares at a price band of Rs 147-150. The company aims to raise Rs 30.75 crore to fund corporate office setup, machinery purchase, and working capital. The IPO closes on March 26, with allotment by March 27 and trading on BSE SME from April 1.

The Securities and Exchange Board of India (SEBI) has delayed the IPOs of Hero FinCorp and HDB Financial Services due to potential violations of pre-IPO share sale rules. Hero FinCorp's IPO, filed to raise Rs 3,668 crore, and HDB Financial Services' Rs 12,500 crore IPO, including a Rs 10,000 crore offer for sale by HDFC Bank, are under review. Both companies deny any rule violations.

Super Iron Foundry's IPO debuted mutedly on BSE SME, opening at ₹107.95, slightly below the issue price of ₹108. The IPO, subscribed 1.56 times, aimed to raise ₹68.05 crore for working capital and debt repayment. The company, established in 1988, produces diverse castings and operates a facility in Durgapur. Grey market premium indicated a ₹3 gain, suggesting a listing price of ₹111.

Super Iron Foundry's shares will debut on BSE SME with a Rs 3 GMP, indicating a 3% premium over the Rs 108 IPO price. The company raised Rs 68 crore, primarily for working capital and debt repayment. It exports to Europe and the Middle East, with a 72,000 MT annual capacity facility in Durgapur, supported by advanced automation.

Divine Hira Jewellers' Rs 32-crore IPO was fully subscribed on the second day, with 1.79 times subscription, while Paradeep Parivahan's Rs 44.86-crore IPO remained undersubscribed at 47%. Both issues close on March 19. Divine Hira Jewellers plans to use funds for debt repayment and working capital, while Paradeep Parivahan aims to utilize proceeds for working capital and corporate purposes.

Maharashtra-based Active Infrastructures will launch its IPO on March 21, priced at Rs 178-181 per share, offering 43 lakh shares to raise Rs 77.83 crore. The funds will be used for working capital (Rs 38.98 crore), debt repayment (Rs 16.72 crore), equipment purchase (Rs 7.05 crore), and general corporate purposes. Kreo Capital is the merchant banker, with shares listing on NSE Emerge by March 28.

The mainboard IPO market will remain quiet next week, while the SME segment will see four new IPOs: Desco Infratech, Shri Ahimsa Naturals, ATC Energies, and Identixweb. These SME IPOs aim to raise a total of ₹184.15 crore. Additionally, five new IPOs, including Paradeep Parivahan and Divine Hira Jewellers, will list next week. FY2025 has seen robust IPO activity.

The article highlights several upcoming IPOs in 2025, including LG Electronics, NSDL, Tata Capital, boAt, and JSW Cement, with amounts ranging from ₹2,000 crore to ₹15,000 crore. Market volatility and global factors are influencing IPO activity, with a shift towards strategic positioning, financial discipline, and ESG considerations, emphasizing sustainable growth over speculative valuations.

SSF Plastics India Ltd has filed a DRHP for an IPO, including a fresh issue of ₹300 crore and an offer for sale of ₹250 crore. The company reported ₹15.19 crore profit and ₹397.41 crore revenue for the six months ending September 2024. Proceeds will fund debt repayment, capital expenditures, and corporate needs, with IIFL and Nuvama as lead managers.

Tata Group has appointed 10 investment banks, including Kotak Mahindra Capital, Citi, and JP Morgan, for Tata Capital's over Rs 15,000 crore IPO. The company plans to file draft papers by March-end via the confidential pre-filing route. The IPO will combine primary and secondary share issues, with Tata Sons and IFC likely reducing their stakes. Tata Sons will retain over 75% ownership.

The Active Infrastructures IPO opened on March 21 and will close on March 25, with a price band of ₹178-181 per share. The company, founded in 2007, focuses on infrastructure and commercial construction projects. The IPO consists of a fresh issue of 43,00,200 equity shares to raise ₹77.83 crore, primarily for working capital and loan repayment. On day one, the subscription stood at 4%.

PhysicsWallah, an edtech unicorn, has filed draft IPO papers with Sebi through a confidential pre-filing route, allowing it to withhold public disclosure details. The company, valued at $2.8 billion after raising $210 million in September, may or may not proceed with the IPO. This route offers flexibility, including changing the issue size and an extended timeline for the public offering.

Tuhin Kanta Pandey, SEBI’s new chairman, approved LG Electronics India’s IPO, marking a shift from his predecessor’s rapid reforms to a more balanced regulatory approach. He stressed trust, transparency, and teamwork, aiming to reduce staff stress while ensuring market stability. His leadership signals a focus on measured reforms, fostering long-term investor confidence and regulatory consistency.

The Rapid Fleet IPO opened on March 21 and closes on March 25, with a price band of ₹183-192 per share. The company offers logistics services across industries and has a fleet of over 200 vehicles. The IPO consists of 22.84 lakh shares to raise ₹43.87 crore for vehicle acquisition, working capital, and corporate activities.

LG Electronics India, the country’s second-largest electronics firm, is set for a highly anticipated IPO. As excitement builds, investors are debating whether its premium valuation is justified. The offering is expected to be one of the biggest of the year, reflecting the company’s strong market position but also raising concerns over potential overvaluation.

Jaipur-based Shri Ahimsa Naturals, a crude caffeine processor, will launch its IPO on March 25, aiming to raise Rs 73.81 crore. The issue includes a fresh share sale of 42.03 lakh shares and an offer-for-sale of 19.99 lakh shares by promoters. The price band is Rs 113-119 per share. Proceeds will fund a new manufacturing facility and general corporate purposes.

The Paradeep Parivahan IPO share allotment will be finalized today, March 20. The IPO, which opened on March 17 and closed on March 19, was subscribed 1.78 times. Investors can check their allotment status on Bigshare Services or BSE. Shares will be credited to demat accounts on March 21, with listing on BSE SME scheduled for March 24.

Divine Hira Jewellers IPO share allotment is finalized today, March 20. The IPO, subscribed 3.93 times, opened on March 17 and closed on March 19. Investors can check their allotment status on Bigshare Services or NSE. Shares will be credited on March 21, with refunds starting the same day. Listing is set for March 24 on NSE SME. The GMP is currently ₹7.

Endiya Partners announced a 4x return on its first ₹175 crore fund, driven by partial stake sale in Darwinbox, which recently raised $140 million. The firm has backed startups like Cult.fit and Karkinos, with Kissht and Cult.fit planning IPOs. Endiya’s second and third funds are expanding their portfolios, supported by institutional investors.

Divine Hira Jewellers' IPO, priced at ₹90 per share, opened on March 17 and closed on March 19. The issue comprised 35,37,600 shares to raise ₹31.84 crore for loan repayment, working capital, and corporate purposes. Subscription was 3.93 times overall, with retail at 6.62 times. The grey market premium was ₹7, suggesting a listing price of ₹97.

Desco Infratech, a Gujarat-based infrastructure company, will launch its maiden IPO on March 24, offering 20.5 lakh shares at a price band of Rs 147-150. The company aims to raise Rs 30.75 crore to fund corporate office setup, machinery purchase, and working capital. The IPO closes on March 26, with allotment by March 27 and trading on BSE SME from April 1.

The Securities and Exchange Board of India (SEBI) has delayed the IPOs of Hero FinCorp and HDB Financial Services due to potential violations of pre-IPO share sale rules. Hero FinCorp's IPO, filed to raise Rs 3,668 crore, and HDB Financial Services' Rs 12,500 crore IPO, including a Rs 10,000 crore offer for sale by HDFC Bank, are under review. Both companies deny any rule violations.

Super Iron Foundry's IPO debuted mutedly on BSE SME, opening at ₹107.95, slightly below the issue price of ₹108. The IPO, subscribed 1.56 times, aimed to raise ₹68.05 crore for working capital and debt repayment. The company, established in 1988, produces diverse castings and operates a facility in Durgapur. Grey market premium indicated a ₹3 gain, suggesting a listing price of ₹111.

Super Iron Foundry's shares will debut on BSE SME with a Rs 3 GMP, indicating a 3% premium over the Rs 108 IPO price. The company raised Rs 68 crore, primarily for working capital and debt repayment. It exports to Europe and the Middle East, with a 72,000 MT annual capacity facility in Durgapur, supported by advanced automation.

Divine Hira Jewellers' Rs 32-crore IPO was fully subscribed on the second day, with 1.79 times subscription, while Paradeep Parivahan's Rs 44.86-crore IPO remained undersubscribed at 47%. Both issues close on March 19. Divine Hira Jewellers plans to use funds for debt repayment and working capital, while Paradeep Parivahan aims to utilize proceeds for working capital and corporate purposes.

Maharashtra-based Active Infrastructures will launch its IPO on March 21, priced at Rs 178-181 per share, offering 43 lakh shares to raise Rs 77.83 crore. The funds will be used for working capital (Rs 38.98 crore), debt repayment (Rs 16.72 crore), equipment purchase (Rs 7.05 crore), and general corporate purposes. Kreo Capital is the merchant banker, with shares listing on NSE Emerge by March 28.

The Securities and Exchange Board of India (SEBI) has approved IPO plans for LG Electronics India and Innovision, issuing observation letters on March 13 and March 12, respectively, allowing them to launch IPOs within a year. However, SEBI returned Neilsoft's IPO documents on March 10, indicating that the company may need to revise and resubmit its filings for approval.

Pine Labs, an Indian fintech firm backed by Peak XV, plans a $1 billion domestic IPO in the second half of 2025, undeterred by weak market conditions. The company, valued at $5 billion, offers payment solutions and competes with Paytm and PhonePe. It reported $200.4 million in revenue for 2023-24, with losses widening to $40.68 million.

Bajaj Finserv plans to take its life and general insurance units public, but not before FY2027. Both businesses are self-sustaining and do not need a new partner. The company, along with its promoters, is acquiring Allianz's 26% stake, securing full ownership of both subsidiaries. This strategic move strengthens Bajaj Finserv’s control over its insurance operations.

PDP Shipping & Projects' shares listed at ₹108.25 on BSE SME, a 20% discount from the ₹135 issue price. The IPO, open March 10-12, received 1.01 times subscription, with retail portion booked 1.88 times and non-institutional 0.14 times. The company aimed to raise ₹12.65 crore via 9.37 lakh shares. .

Amazon is considering spinning off its Indian unit and listing it as an IPO, driven by data localization and the ability to adopt an inventory model for faster deliveries. Discussions with JP Morgan and Indian investment banks have begun, with Amazon aiming to strengthen its position amid competition from Flipkart, which is also planning an IPO.

The IPO momentum on Dalal Street continues with the market debut of PDP Shipping. The US FOMC meets for a critical rate announcement, with focus on Jerome Powell's outlook. Additionally, updates on the US tariff war and global reactions are being tracked. Stay tuned for the latest business news and corporate announcements.

Affirm shares fell over 11% in premarket trading after Walmart replaced it with Klarna as its exclusive BNPL provider through OnePay, offering installment loans of up to three years. Klarna, preparing for a U.S. IPO, secured the deal, ending Affirm’s partnership since 2019. Despite the drop, Affirm shares have gained 30% over the past year.

Droom, an online used vehicle marketplace, plans to raise fresh capital through its Indian unit and revive its IPO plans, a top executive told VCCircle. Backed by investors like Lightbox and Beenext, the startup aims to strengthen its financial position and expand its market presence as it moves forward with these strategic initiatives.

Ashwini Agarwal states most market damage is done, with long-term bottom uncertain due to policy shifts. Historically, corrections last 12-18 months. IPO lock-ins expiring may create buying opportunities. He advises focusing on quality companies with valuations of 10-20x earnings, favoring domestic consumer & financial sectors, while remaining cautious on exports & apparel due to currency risks.

The Super Iron Foundry IPO allotment is finalized on March 17. The IPO, subscribed 1.56 times, opened on March 11 and closed on March 13. Refunds begin on March 18, with shares credited the same day. Listing is set for March 19. The GMP is +15, suggesting a grey market premium of ₹15, with an estimated listing price of ₹123, up 13.89% from the IPO price of ₹108.

One MobiKwik Systems' shares dropped 14.6% to a 52-week low of Rs 231.05 after the lock-in period expired, unlocking 46 lakh shares. The stock has fallen 61% from its post-listing high and below its IPO price, with a 24% decline in the past month. The company reported a Q3 net loss of Rs 55.28 crore despite a 17.7% revenue increase.

The Grand Continent Hotels IPO will open on March 20 and close on March 24, with a price band of ₹107-113 per share. The company, operating 19 hotels with over 900 rooms across six Indian cities, aims to use IPO funds for debt repayment, expansion, and corporate purposes. The grey market premium is currently ₹0.

Paradeep Parivahan IPO Day 1: Paradeep Parivahan's SME IPO opens today, March 17, as the primary market gains momentum. Three other SME IPOs are also set to launch this week, while listings for PDP Shippings and Super Iron Foundry are scheduled. This marks a busy period for the IPO market with multiple offerings and listings.

INOXGFL Group plans to list INOX Clean Energy via an IPO, aiming to raise ₹5,000 crore. Valued at ₹50,000 crore, the IPO is one of the largest in India's private renewable energy sector. Expected in Q3 of FY 2025-26, it will be the group's fifth listed entity, with five investment banks managing the issue.

Allchem Lifescience, a Gujarat-based API and specialty chemicals manufacturer, has filed for an IPO with SEBI. The IPO includes a fresh issue of ₹190 crore and an offer for sale of 71.55 lakh shares by promoters. ₹130 crore will be used for debt repayment. The company, established in 2017, serves domestic and international clients, with revenue growing at a 12.75% CAGR between FY22 and FY24.

Zetwerk Manufacturing aims for an IPO in 15-24 months, CEO Amrit Acharya announced. They opened their seventh facility in Tamil Nadu as part of a Rs 1,000 crore investment. The company has raised $768 million, with a recent $70 million round. FY24 GMV reached ₹17,564 crore, primarily from renewables. They target 70-80% revenue from renewables, aerospace, and electronics in 3-4 years.

An SME IPO in August saw a 400x oversubscription, raising Rs 12 crore with Rs 2,700 crore bids. Shares dropped 50% post-IPO, prompting Sebi to tighten regulations. Now, SMEs must show Rs 1 crore operating profit, cap OFS at 20%, and restrict shareholder offloads. This led to a significant decline in IPO subscriptions, with recent highs at 44x.

The primary market is gaining momentum with 4 new IPOs opening next week, including Arisinfra Solutions in the mainboard segment & 3 SME IPOs: Paradeep Parivahan, Divine Hira Jewellers, and Grand Continent Hotels. Listings for PDP Shipping and Super Iron Foundry are also expected. Market volatility and regulatory scrutiny have slowed IPO activity in 2025, but new issues signal renewed activity.

Saatvik Green Energy has refiled its IPO to raise Rs 1,150 crore, comprising Rs 850 crore in fresh shares and Rs 300 crore via offer-for-sale. The funds will repay debt and set up a 4 GW solar PV facility in Odisha. The company, with 3.80 GW capacity, has seen a 21-fold profit increase to Rs 100.4 crore and 78.8% revenue growth to Rs 1,088 crore in FY24.

LG Electronics India has received SEBI approval for its Rs 15,000 crore IPO, involving a 15% stake sale by its South Korean parent. The offering is an offer for sale (OFS), with proceeds going to the parent company. LG Electronics India is a market leader in consumer electronics, reporting Rs 64,088 crore in revenue for FY24.

The mainboard IPO market will remain quiet next week, while the SME segment will see four new IPOs: Desco Infratech, Shri Ahimsa Naturals, ATC Energies, and Identixweb. These SME IPOs aim to raise a total of ₹184.15 crore. Additionally, five new IPOs, including Paradeep Parivahan and Divine Hira Jewellers, will list next week. FY2025 has seen robust IPO activity.

The article highlights several upcoming IPOs in 2025, including LG Electronics, NSDL, Tata Capital, boAt, and JSW Cement, with amounts ranging from ₹2,000 crore to ₹15,000 crore. Market volatility and global factors are influencing IPO activity, with a shift towards strategic positioning, financial discipline, and ESG considerations, emphasizing sustainable growth over speculative valuations.

SSF Plastics India Ltd has filed a DRHP for an IPO, including a fresh issue of ₹300 crore and an offer for sale of ₹250 crore. The company reported ₹15.19 crore profit and ₹397.41 crore revenue for the six months ending September 2024. Proceeds will fund debt repayment, capital expenditures, and corporate needs, with IIFL and Nuvama as lead managers.

Tata Group has appointed 10 investment banks, including Kotak Mahindra Capital, Citi, and JP Morgan, for Tata Capital's over Rs 15,000 crore IPO. The company plans to file draft papers by March-end via the confidential pre-filing route. The IPO will combine primary and secondary share issues, with Tata Sons and IFC likely reducing their stakes. Tata Sons will retain over 75% ownership.

The Active Infrastructures IPO opened on March 21 and will close on March 25, with a price band of ₹178-181 per share. The company, founded in 2007, focuses on infrastructure and commercial construction projects. The IPO consists of a fresh issue of 43,00,200 equity shares to raise ₹77.83 crore, primarily for working capital and loan repayment. On day one, the subscription stood at 4%.

PhysicsWallah, an edtech unicorn, has filed draft IPO papers with Sebi through a confidential pre-filing route, allowing it to withhold public disclosure details. The company, valued at $2.8 billion after raising $210 million in September, may or may not proceed with the IPO. This route offers flexibility, including changing the issue size and an extended timeline for the public offering.

Tuhin Kanta Pandey, SEBI’s new chairman, approved LG Electronics India’s IPO, marking a shift from his predecessor’s rapid reforms to a more balanced regulatory approach. He stressed trust, transparency, and teamwork, aiming to reduce staff stress while ensuring market stability. His leadership signals a focus on measured reforms, fostering long-term investor confidence and regulatory consistency.

The Rapid Fleet IPO opened on March 21 and closes on March 25, with a price band of ₹183-192 per share. The company offers logistics services across industries and has a fleet of over 200 vehicles. The IPO consists of 22.84 lakh shares to raise ₹43.87 crore for vehicle acquisition, working capital, and corporate activities.

LG Electronics India, the country’s second-largest electronics firm, is set for a highly anticipated IPO. As excitement builds, investors are debating whether its premium valuation is justified. The offering is expected to be one of the biggest of the year, reflecting the company’s strong market position but also raising concerns over potential overvaluation.

Jaipur-based Shri Ahimsa Naturals, a crude caffeine processor, will launch its IPO on March 25, aiming to raise Rs 73.81 crore. The issue includes a fresh share sale of 42.03 lakh shares and an offer-for-sale of 19.99 lakh shares by promoters. The price band is Rs 113-119 per share. Proceeds will fund a new manufacturing facility and general corporate purposes.

The Paradeep Parivahan IPO share allotment will be finalized today, March 20. The IPO, which opened on March 17 and closed on March 19, was subscribed 1.78 times. Investors can check their allotment status on Bigshare Services or BSE. Shares will be credited to demat accounts on March 21, with listing on BSE SME scheduled for March 24.

Divine Hira Jewellers IPO share allotment is finalized today, March 20. The IPO, subscribed 3.93 times, opened on March 17 and closed on March 19. Investors can check their allotment status on Bigshare Services or NSE. Shares will be credited on March 21, with refunds starting the same day. Listing is set for March 24 on NSE SME. The GMP is currently ₹7.

Endiya Partners announced a 4x return on its first ₹175 crore fund, driven by partial stake sale in Darwinbox, which recently raised $140 million. The firm has backed startups like Cult.fit and Karkinos, with Kissht and Cult.fit planning IPOs. Endiya’s second and third funds are expanding their portfolios, supported by institutional investors.

Divine Hira Jewellers' IPO, priced at ₹90 per share, opened on March 17 and closed on March 19. The issue comprised 35,37,600 shares to raise ₹31.84 crore for loan repayment, working capital, and corporate purposes. Subscription was 3.93 times overall, with retail at 6.62 times. The grey market premium was ₹7, suggesting a listing price of ₹97.

Desco Infratech, a Gujarat-based infrastructure company, will launch its maiden IPO on March 24, offering 20.5 lakh shares at a price band of Rs 147-150. The company aims to raise Rs 30.75 crore to fund corporate office setup, machinery purchase, and working capital. The IPO closes on March 26, with allotment by March 27 and trading on BSE SME from April 1.

The Securities and Exchange Board of India (SEBI) has delayed the IPOs of Hero FinCorp and HDB Financial Services due to potential violations of pre-IPO share sale rules. Hero FinCorp's IPO, filed to raise Rs 3,668 crore, and HDB Financial Services' Rs 12,500 crore IPO, including a Rs 10,000 crore offer for sale by HDFC Bank, are under review. Both companies deny any rule violations.

Super Iron Foundry's IPO debuted mutedly on BSE SME, opening at ₹107.95, slightly below the issue price of ₹108. The IPO, subscribed 1.56 times, aimed to raise ₹68.05 crore for working capital and debt repayment. The company, established in 1988, produces diverse castings and operates a facility in Durgapur. Grey market premium indicated a ₹3 gain, suggesting a listing price of ₹111.

Super Iron Foundry's shares will debut on BSE SME with a Rs 3 GMP, indicating a 3% premium over the Rs 108 IPO price. The company raised Rs 68 crore, primarily for working capital and debt repayment. It exports to Europe and the Middle East, with a 72,000 MT annual capacity facility in Durgapur, supported by advanced automation.

Divine Hira Jewellers' Rs 32-crore IPO was fully subscribed on the second day, with 1.79 times subscription, while Paradeep Parivahan's Rs 44.86-crore IPO remained undersubscribed at 47%. Both issues close on March 19. Divine Hira Jewellers plans to use funds for debt repayment and working capital, while Paradeep Parivahan aims to utilize proceeds for working capital and corporate purposes.

Maharashtra-based Active Infrastructures will launch its IPO on March 21, priced at Rs 178-181 per share, offering 43 lakh shares to raise Rs 77.83 crore. The funds will be used for working capital (Rs 38.98 crore), debt repayment (Rs 16.72 crore), equipment purchase (Rs 7.05 crore), and general corporate purposes. Kreo Capital is the merchant banker, with shares listing on NSE Emerge by March 28.

The Securities and Exchange Board of India (SEBI) has approved IPO plans for LG Electronics India and Innovision, issuing observation letters on March 13 and March 12, respectively, allowing them to launch IPOs within a year. However, SEBI returned Neilsoft's IPO documents on March 10, indicating that the company may need to revise and resubmit its filings for approval.

Pine Labs, an Indian fintech firm backed by Peak XV, plans a $1 billion domestic IPO in the second half of 2025, undeterred by weak market conditions. The company, valued at $5 billion, offers payment solutions and competes with Paytm and PhonePe. It reported $200.4 million in revenue for 2023-24, with losses widening to $40.68 million.

Bajaj Finserv plans to take its life and general insurance units public, but not before FY2027. Both businesses are self-sustaining and do not need a new partner. The company, along with its promoters, is acquiring Allianz's 26% stake, securing full ownership of both subsidiaries. This strategic move strengthens Bajaj Finserv’s control over its insurance operations.

PDP Shipping & Projects' shares listed at ₹108.25 on BSE SME, a 20% discount from the ₹135 issue price. The IPO, open March 10-12, received 1.01 times subscription, with retail portion booked 1.88 times and non-institutional 0.14 times. The company aimed to raise ₹12.65 crore via 9.37 lakh shares. .

Amazon is considering spinning off its Indian unit and listing it as an IPO, driven by data localization and the ability to adopt an inventory model for faster deliveries. Discussions with JP Morgan and Indian investment banks have begun, with Amazon aiming to strengthen its position amid competition from Flipkart, which is also planning an IPO.

The IPO momentum on Dalal Street continues with the market debut of PDP Shipping. The US FOMC meets for a critical rate announcement, with focus on Jerome Powell's outlook. Additionally, updates on the US tariff war and global reactions are being tracked. Stay tuned for the latest business news and corporate announcements.

Affirm shares fell over 11% in premarket trading after Walmart replaced it with Klarna as its exclusive BNPL provider through OnePay, offering installment loans of up to three years. Klarna, preparing for a U.S. IPO, secured the deal, ending Affirm’s partnership since 2019. Despite the drop, Affirm shares have gained 30% over the past year.

Droom, an online used vehicle marketplace, plans to raise fresh capital through its Indian unit and revive its IPO plans, a top executive told VCCircle. Backed by investors like Lightbox and Beenext, the startup aims to strengthen its financial position and expand its market presence as it moves forward with these strategic initiatives.

Ashwini Agarwal states most market damage is done, with long-term bottom uncertain due to policy shifts. Historically, corrections last 12-18 months. IPO lock-ins expiring may create buying opportunities. He advises focusing on quality companies with valuations of 10-20x earnings, favoring domestic consumer & financial sectors, while remaining cautious on exports & apparel due to currency risks.

The Super Iron Foundry IPO allotment is finalized on March 17. The IPO, subscribed 1.56 times, opened on March 11 and closed on March 13. Refunds begin on March 18, with shares credited the same day. Listing is set for March 19. The GMP is +15, suggesting a grey market premium of ₹15, with an estimated listing price of ₹123, up 13.89% from the IPO price of ₹108.

One MobiKwik Systems' shares dropped 14.6% to a 52-week low of Rs 231.05 after the lock-in period expired, unlocking 46 lakh shares. The stock has fallen 61% from its post-listing high and below its IPO price, with a 24% decline in the past month. The company reported a Q3 net loss of Rs 55.28 crore despite a 17.7% revenue increase.

The Grand Continent Hotels IPO will open on March 20 and close on March 24, with a price band of ₹107-113 per share. The company, operating 19 hotels with over 900 rooms across six Indian cities, aims to use IPO funds for debt repayment, expansion, and corporate purposes. The grey market premium is currently ₹0.

Paradeep Parivahan IPO Day 1: Paradeep Parivahan's SME IPO opens today, March 17, as the primary market gains momentum. Three other SME IPOs are also set to launch this week, while listings for PDP Shippings and Super Iron Foundry are scheduled. This marks a busy period for the IPO market with multiple offerings and listings.

INOXGFL Group plans to list INOX Clean Energy via an IPO, aiming to raise ₹5,000 crore. Valued at ₹50,000 crore, the IPO is one of the largest in India's private renewable energy sector. Expected in Q3 of FY 2025-26, it will be the group's fifth listed entity, with five investment banks managing the issue.

Allchem Lifescience, a Gujarat-based API and specialty chemicals manufacturer, has filed for an IPO with SEBI. The IPO includes a fresh issue of ₹190 crore and an offer for sale of 71.55 lakh shares by promoters. ₹130 crore will be used for debt repayment. The company, established in 2017, serves domestic and international clients, with revenue growing at a 12.75% CAGR between FY22 and FY24.

Zetwerk Manufacturing aims for an IPO in 15-24 months, CEO Amrit Acharya announced. They opened their seventh facility in Tamil Nadu as part of a Rs 1,000 crore investment. The company has raised $768 million, with a recent $70 million round. FY24 GMV reached ₹17,564 crore, primarily from renewables. They target 70-80% revenue from renewables, aerospace, and electronics in 3-4 years.

An SME IPO in August saw a 400x oversubscription, raising Rs 12 crore with Rs 2,700 crore bids. Shares dropped 50% post-IPO, prompting Sebi to tighten regulations. Now, SMEs must show Rs 1 crore operating profit, cap OFS at 20%, and restrict shareholder offloads. This led to a significant decline in IPO subscriptions, with recent highs at 44x.

The primary market is gaining momentum with 4 new IPOs opening next week, including Arisinfra Solutions in the mainboard segment & 3 SME IPOs: Paradeep Parivahan, Divine Hira Jewellers, and Grand Continent Hotels. Listings for PDP Shipping and Super Iron Foundry are also expected. Market volatility and regulatory scrutiny have slowed IPO activity in 2025, but new issues signal renewed activity.

Saatvik Green Energy has refiled its IPO to raise Rs 1,150 crore, comprising Rs 850 crore in fresh shares and Rs 300 crore via offer-for-sale. The funds will repay debt and set up a 4 GW solar PV facility in Odisha. The company, with 3.80 GW capacity, has seen a 21-fold profit increase to Rs 100.4 crore and 78.8% revenue growth to Rs 1,088 crore in FY24.

LG Electronics India has received SEBI approval for its Rs 15,000 crore IPO, involving a 15% stake sale by its South Korean parent. The offering is an offer for sale (OFS), with proceeds going to the parent company. LG Electronics India is a market leader in consumer electronics, reporting Rs 64,088 crore in revenue for FY24.