8 Firms Get Sebi Nod For Rs 7,800-Cr IPOs

New Delhi: As many as eight firms including defence equipment manufacturer SMPP, Aditya Infotech, Brigade Hotel and PVC blend-based building material maker Kumar Arch Tech have received Sebi’s go ahead to raise funds through initial public offerings (IPOs). Other companies that have received Sebi’s approval include Solarworld Energy Solutions, Indogulf Cropsciences, Globe Civil Projects, and Prostarm Info Systems, an update with the markets regulator showed on Tuesday.

Together, these firms aim to raise more than Rs7,800 crore, merchant bankers said. So far in 2025, six companies floated their maiden public issues. This came after the primary market witnessed a remarkable year when 91 IPOs were launched collectively raising Rs 1.6 lakh crore. Going by the update on Tuesday, Sebi received preliminary IPO documents from eight firms between October and November, and issued its observations during January 28-31.

In Sebi's parlance, obtaining the observations means its go ahead to float the public issue. Meanwhile, auto component maker Viney Corporation withdrew its draft IPO papers on January 27 without giving a reason.

The preliminary documents were filed in October. As for SMPP Ltd, its Rs4,000-crore IPO includes a fresh issue of equity shares worth up to Rs580 crore and an offer-for-sale (OFS) of shares worth up to Rs3,420 crore by promoter Shiv Chand Kansal, according to the draft papers.

At present, Kansal holds a 50 per cent stake in the company. Proceeds from the fresh issue will be utilised primarily for capital expenditure of Rs437.04 crore, which includes constructing buildings, land development, and procuring plant and machinery for a planned ammunition manufacturing facility through an investment in a subsidiary.

The remaining amount will be allocated for general corporate purposes. Aditya Infotech's proposed IPO is a combination of a fresh issue of equity shares worth Rs500 crore and an OFS of shares valued Rs800 crore by promoters, as per the draft papers.