SEBI clears 4 IPOs to raise ₹2,500 crore
The four IPOs that have received SEBI nod includes Vidya Wires, Kent RO Systems, Karamtara Engineering and Mangal Electrical Industries
| Photo Credit:
HEMANSHI KAMANI
Capital market regulator SEBI has cleared four initial public offerings (IPOs) worth ₹2,500 crore even as one draft offer was withdrawn.
The four IPOs that have received SEBI nod includes Vidya Wires, Kent RO Systems, Karamtara Engineering, Mangal Electrical Industries while Sai Infinium preferred to withdraw its offer document filed on April 3.
Karamtara Engineering plans to raise ₹1,750 crore through issue of fresh equity shares worth ₹1,350 crore and an offer for sale of ₹400 crore by existing shareholders. The company intends to use the net proceeds from the fresh issue to repay debt worth ₹1,050 crore and other corporate purpose.
As a backward integrated producer of transmission line and renewable energy products, Karamtara Engineering is the leading manufacturer of solar mounting structures and tracker components.
The company’s offerings include structures such as lattice towers for transmission lines alongwith solar module mounting structures, solar tracker piles and piers and solar torque tubes for solar projects.
The Mangal Electrical Industries will raise ₹450 crore through fresh equity issuance. The Jaipur-based company produces winding wires, insulation strips and components for motors and transformers. The funds raised will support to scale up its manufacturing capacity and R&D enhancements, targeting industries like EVs and renewables.
Vidya Wires will tap the market to raise ₹320 crore through fresh equity issuance and offer for sale of 1 crore shares by existing investors. The company plans to use the funds for setting up a new project and repay debt.
A market leader in water purifiers, Kent RO Systems plans to offer one crore shares through offer for sale by existing investors. The company offers air purifiers, water softeners and vacuum cleaners. The OFS-only IPO will allow promoters to unlock value, though the company won’t raise fresh capital.
Despite the marked slowdown in IPOs hitting the market and bearish undertone in the secondary markets, the draft red herring prospectus filing with SEBI has hit a new high in last 10 years. About 85 companies including large companies such as Tata Capital, Runwal Enterprises, Urban Company, Canara HSBC Life Insurance Company and Canara Robeco Asset Management have filed their offer documents till May this year. Tata Sons filed the draft papers for Tata Capital IPO through the confidential route.
Only 15 companies have hit the primary market to list on the mainboard in the first five months of this year against 29 logged in the same period last year.
Published on June 10, 2025
