IPO NOTES
IPO Notes
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WeWork India Ltd. IPO Note
WeWork India Management Limited is a leading premium flexible workspace operator in India, and has been the largest operator by total revenue in the past three Fiscals. The company has played a significant role in the growth of the flexible workspace sector in India and has been a key contributor for the evolution of flexible workspace products and services .
The company provides flexible, high-quality workspaces to their customers (who they refer to as members) which include companies of all sizes: large enterprises, small and mid-size businesses, startups, as well as individuals. They have established multi-asset relationships with various prominent developers across major Tier 1 cities. The company leases primarily Grade A office space from such developers and they design, build, and operate them as flexible workspaces as per global standards. They have one of the most extensive range of product and services. The company offers flexibility to members by providing adaptable terms that allow companies to scale their workspace as their needs evolve.
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Advance Agrolife Ltd. IPO Note
Advance
Agrolife Limited is an agrochemical company engaged in manufacturing a wide range of agrochemical products
that support the entire lifecycle of crops The company’s products are designed for use in the cultivation of major cereals,
vegetables, and horticultural crops across both agri seasons Kharif and Rabi) in India As on the date of March 31 st 2025
they have received four hundred and ten generic registrations comprising of three hundred and eighty Formulation Grade
registration and thirty Technical Grade registration for the agrochemicals
The
company’s product portfolio includes insecticides, herbicides, fungicides, plant growth regulators They also
manufacture other agrochemical products such as micro nutrient fertilizers and bio fertilizers Their products are primarily
sold domestically through direct sales to corporate customers on B 2 B basis, across the country, particularly in nineteen
states and two union territories In addition to serving domestic market, their products are also exported to seven countries
including UAE, Bangladesh, China (including Hong Kong), Turkey, Egypt, Kenya and Nepal during the Fiscal 2025 Fiscal 2024
and Fiscal 2023 Some of their marquee corporate customers include DCM Shriram Limited, IFFCO MC Crop Science Private
Limited, Indogulf Cropsciences Limited, Mankind Agritech Private Limited, HPM Chemicals and Fertilizers Limited, ULink
AgriTech Private Limited, amongst other.
Om freight IPO Note
Om Freight Forwarders Ltd. is a 3PL (Third Party Logistics Provider) providing integrated service to their customers,
headquartered at Mumbai. Their services include international freight forwarding, customs clearance (CHA), vessel agency
services, transportation service, warehousing, and distribution. The Company is also engaged in handling of project cargo,
which is a specialized activity requiring detailed planning and technical expertise. Backed by over four decades of
operational and handling expertise, the company seamlessly combines in-depth customs knowledge with advanced
information technology. The Company operates on a pan-India basis through an established network of 28 branches and an
extensive international reach, covering 800+ destinations through strategic tie-ups and partnerships with many global
logistics providers. As a multimodal transport operator, they provide seamless end-to-end freight solutions for export and
import cargo via sea, road, rail, and air. The Company supplements their owned assets with rental options during peak
periods to ensure the consistent delivery of reliable services. In addition, they have established network of 22 logistics
partners who provide them with vehicles and other essential assets and services. In Fiscal Years 2025, 2024, and 2023, they
served, 1,715, 1,662 and 1,664 customers, respectively.
Fabtech Technology IPO Note
Fabtech Technologies is a global company headquartered in India, specializing in turnkey engineering solutions for
pharmaceuticals, biotech and healthcare companies. The company’s footprint spans more than 62 countries Middle East,
Africa, Asia, Europe, Latin America, North America, etc. They have presence across some of the key emerging economies
like Bangladesh, Egypt, Ethiopia, India, Kenya, Kingdom of Saudi Arabia, Morocco, Nicaragua, Nigeria, South Africa, Turkey,
UAE, USA and Tanzania.
The company provides extensive technical expertise and infrastructure to deliver comprehensive solutions for establishing
aseptic manufacturing facilities, encompassing everything from design to certification. They offer comprehensive start to
finish services in greenfield projects, encompassing disease identification, planning, designing, engineering, procurement,
quality assurance, logistics management and installation and commissioning for a wide range of customers across various
geographies, particularly key emerging economies. The company also offers some of the engineering solutions, which
majorly include, equipment procurement and supply and logistics management, on a standalone basis, either as part of
greenfield or brownfield projects.
Pace Digitek_IPO Note
Pace Digitek is a telecom infrastructure solution provider with a significant focus on the telecom infrastructure industry including telecom towers and optical fibre cables. They undertake manufacturing, installation and commissioning services of products at the site and undertake operation and maintenance of site including tower erection and optical fiber cable laying as turnkey solution. The company generates its revenue from 3 verticals i.e., telecommunications, energy, and information & communication technology (ICT). It has established operational presence in Maharashtra, Gujarat, Karnataka, Andhra Pradesh, Jammu and Kashmir, Uttarakhand, Assam, Manipur, Arunachal Pradesh, Mizoram, Nagaland, Sikkim among others along with operations in Myanmar and Africa.
Jinkushal Industries Ltd. IPO
Jinkushal Industries Ltd. is engaged in export trading of new/customized and used/refurbished construction machines in global markets. They primarily operate across three primary business verticals; (i) export trading of customized, modified and accessorized new construction machines; (ii) export trading of used/refurbished construction machines; and (iii) export trading of their own brand ‘HexL’ construction machines (presently in category of backhoe loaders) to cater a diverse international customer base.
Trualt Bioenergy IPO Note
Trualt Bioenergy Limited is one of India's largest biofuels producers, strategically positioned as a prominent and diversified player in the Indian biofuels industry, primarily in the production of Ethanol. The company holds the distinction of being the largest Ethanol producer in India based on installed capacity. At present, they have the largest market share in terms of Ethanol production capacity. Its product portfolio includes: (i) 1G Ethanol, (ii) Compressed Biogas, and (iii) Extra Neutral Alcohol.
E-pack prefab IPO Note
Epack Prefab Tehnologies is operating into two business verticals, i.e. (i) Pre-Fab Business, wherein they provide complete solutions to customers on turnkey basis which includes designing, manufacturing, installation and erection of pre-engineered steel buildings, pre-fabricated structures and its components in India and overseas (Pre-Fab Business); and (ii) manufacturing of expanded polystyrene sheets and blocks (also referred as EPS Block Molded products and EPS Shape Molded products) for various industries such as construction, packaging, and consumer goods in India (EPS Packaging Business). The total installed capacity at their three manufacturing facilities is 1,26,546 MTPA of pre-engineered capacity and 5,10,000 SQM of Sandwich Insulated Panel capacity.
Jain Resources Recycling IPO
Jain Resources Recycling Limited is engaged in the recycling and manufacturing of non-ferrous metal products. Its product portfolio includes lead and lead alloy ingots, copper and copper ingots, and aluminum and aluminum alloys. They supply their products to sectors such as lead-acid battery, electrical and electronics, pigments, and automotive. Clients include domestic and international companies such as Vedanta Limited- Sterlite Copper, Luminous Power Technologies Private Limited, Yash Resources Recycling Limited, Mitsubishi Corporation RtM Japan, and Nissan Trading Co. The company's revenue increased by 60% and profit after tax (PAT) rose by 36% between the financial year ending with March 31, 2025 and March 31, 2024.
BMW Ventures Ltd. IPO
BMW Ventures Ltd. is engaged in trading/distribution of steel products, tractor engines and spare parts, manufacturing of PVC pipes and roll forming, and the fabrication of pre-engineered buildings (PEB) and steel girders. They are an approved fabricator for steel girders by the Research Designs and Standards Organization (RDSO). The Company sources their steel products exclusively from the Primary Supplier, in the state of Bihar. They supply steel products through 1,299 dealers as on March 31, 2025, with dealers spanning 29 of the 38 districts in Bihar. To support their business, they operate 6 stockyards: 1 in Purnea (Bihar) and 5 in Patna (Bihar).
Seshaasai IPO Note
Seshaasai Technologies Ltd. Is a technology driven multi-location solutions provider focused on offering payments solutions, and communications and fulfilment solutions catering primarily to the banking, financial services and insurance (BFSI) industry, with data security, and compliance at the core of their solutions. The Company also offers Internet of Things (IoT) solutions to a diverse set of customers across industries. They are one of the top two payments card manufacturers in India with a market share of 31.9% in Fiscal 2025 for credit and debit cards issuance in India improving from 25.0% in Fiscal 2023. They are also one of the largest manufacturers of cheque leaves in India.
Solar World IPO Note
Solarworld Energy Solutions is engaged in providing solar energy solutions, specializing in engineering, procurement andconstruction (“EPC”) services for solar power projects. As on July 31, 2025, Solarworld Energy have Completed Projects with a total capacityof 253.67 megawatts (“MW”) AC/ 336.17 MW DC, and Ongoing Projects with a capacity of 765 MW AC / 994 MW DC for EPCand 325 MW/650 MWh for BESS.Solarworld Energy Solutions’ revenue grew by 9% and Profit after Tax(PAT) rose by 49%.
Anand Rathi IPO Note
Anand Rathi Share & Stock Brokers Ltd. (ARSSBL) is an established full-service brokerage house in India with over 30 years of experience. They provide broking services, margin trading facility and distribution of financial products under the brand ‘Anand Rathi’ to a diverse set of clients across retail, high net worth individuals, ultra-high net worth individuals and institutions.While their client base is spread across various age demographics, 186,859 of their Active Clients, representing 84.36% of their Active Clients, were above 30 years of age as on March 31, 2025.
Jaro Institute IPO Note
JaroInstitute of Technology Management and Research Limited (JaroEducation) is an online higher
education company. The company has a pan-India presence of over 22 offices-cum-learning centresacross major cities for
offline learning, apart from 15 immersive tech studio set-ups in the campuses of various IIMs, JaroEducation cater to a total
of 34 Partner Institutions, as of March 31, 2024. Online, hybrid and in-person certification courses in management, fintech, data
science, business analytics, design thinking and digital marketing, in partnership with 21 institutes in India, including 7 IIMs
and 6 IITs, and 2 other institutions which have been ranked in the top 100 by NIRF, as of March 31, 2024.
Ganesh Consumer IPO Note
Ganesh Consumer Products Limited is a FMCG company. Headquartered in Kolkata, West Bengal, the company is the brand of wheat-based derivatives (maida,sooji,dalia) in East India. The company offers a range of consumer staples, including whole wheat flour, value-added flour products (maida,sooji,besan), packaged instant food mixes, spices, ethnic snacks, and ethnic flours like singhara and bajri flour. The company services its general trade channel through 26 C&F agents, 8 super stockists, and 900 distributors, covering over 70,000 retail outlets in West Bengal, Jharkhand, Bihar, Odisha, and Assam.
Atlanta Electricals IPO
Atlanta Electricals Ltd. is one of the leading manufacturers of power, auto and inverter duty transformers in India, in terms of production volume. The Company is able to produce transformers with a rated capacity of up to 500 MVA and with 765 kV. The Company has a customer base in 19 states and three union territories, across India, with a supply of 4,400 transformers, aggregating to 94,000 MVA. The Order Book amounted to ₹ 1642.95 Crore.
Saatvik Green Energy IPO Note
Saatvik Green Energy is the manufacturer of modules and offers engineering, procurement, and construction (EPC). The company also provides operations and maintenance (O&M) services to customers primarily in relation to EPC projects. It is one of the fastest-growing module manufacturing companies in India and has established itself as a key player in India’s solar energy market. As of June 30, 2025, the network included 53 selling partners: 23 resellers, 19 distributors, and 11 channel partners spread across various Indian states.
Gk Energy Ltd. IPO Note
Gk Energy Ltd. (GEL) is India’s largest pure play provider of engineering, procurement and commissioning (EPC) services for
solar-powered agricultural water pump systems (which are also referred to as solar-powered pump systems) under
Component B of the Central Government’s Pradhan Mantri KUSUM scheme, as measured by the number of solar-powered
pump systems installed under the PMKUSUM Scheme in the period from January 1, 2022 to July 31, 2025.
GEL’s revenue from operations grew by 166.32% YoY due to a one-off order from Maharashtra State Electricity Distribution
Co. Ltd. (MSEDCL), which contributed to 64.2% of the consolidated revenue, and PAT grew by 269% in the same period.
Ivalue Info IPO Note
iValue is an enterprise technology solutions specialist based out of India, offering comprehensive, purpose-built solutions for securing and managing digital applications and data. They primarily serve large enterprises in their digital transformation by understanding their needs and working with System Integrators and OEMs to identify, recommend and deploy solutions meeting their requirements, aimed at ensuring performance, availability, scalability and security of digital applications and data.
iValue’s revenue from operations grew by 18.25% and PAT grew by 20.99% in the financial year 2025.
VMS TMT IPO Note
VMS TMT Ltd. is engaged in manufacturing of Thermo Mechanically Treated Bars (TMT Bars) at their manufacturing facility situated in Ahmedabad, Gujarat. The Company is manufacturing TMT Bars from scrap and billets at their manufacturing facility and also sells scrap, binding wires, and billets.
Euro Pratik IPO Note
Euro Pratik Sales Ltd. operates in the decorative wall panel and decorative laminates industry as a seller and marketer of Decorative Wall Panels and Decorative Laminates. They have a market share of 15.87% by revenue in the organized Decorative Wall Panels industry and the total revenue from the Decorative Wall Panels sold during Fiscal 2023 was₹1,742.89 million.
Dev Accelerator IPO Note
Dev Accelerator Ltd. Is one of the largest flex space operators in terms of operational flex stock in Tier 2 markets. Sinceinception, they have established their presence in both Tier 1 and Tier 2 markets across India, including regions such as DelhiNCR, Hyderabad, Mumbai, Pune, Ahmedabad, Gandhinagar, Indore, Jaipur, Udaipur, Rajkot and Vadodara.
Shringar House of Mangalsutra IPO Note
Shringar House of Mangalsutra Ltd. (SHML) is engaged in designing, manufacturing, and marketing, a varied range of
Mangalsutra studded with diverse range of stones including but not limited to, American diamond, cubic zirconia, pearl,
mother of pearl, and semi-precious stones, in 18k and 22k purity of gold, to their business-to-business (B2B) clients.
SHML recorded 29.80% growth in revenue from operations in FY25 and PAT grew by 96.47%.
Urban Company IPO
Urban Company Limited (UCL) operates a technology-driven, full-stack online services marketplace across home and beauty categories in 51 cities across India, United Arab Emirates (UAE) and Singapore, excluding cities served by their joint venture in Kingdom of Saudi Arabia (KSA), including 47 in India, as at June 30, 2025.
UCL’s revenue from operations grew by 38.21% and turned profitable in FY25, posting a profit of Rs. 239.77 crore.
Amanta Health IPO Note
Amanta Healthcare Ltd. (AHL) is a pharmaceutical company engaged in developing, manufacturing and marketing a diverse range of sterile liquid products - parenteral products, being packed in plastic container with Aseptic Blow-Fill-Seal (ABFS) and Injection Strech Blow Moulding (ISBM) technology.
AHL’s revenue degrew by 2% and PAT grew by 191.66%.
Anlon Healthcare IPO note
Anlon Healthcare Ltd. (AHL) is a chemical manufacturing company engaged in manufacturing of high purity advance pharmaceutical intermediates (Pharma Intermediate), active pharmaceutical ingredients (APIs) (used in formulations for medicines, nutraceuticals, personal care, and animal health products).
AHL’s revenue grew by 80.65% and PAT grew by 112.53% in the financial year 2025.
Vikran Engineering IPO Note
Vikran Engineering Ltd. is an Engineering, Procurement and Construction (EPC) company. They have a diversified project
portfolio, with majority revenue from energy and water infrastructure verticals.
Vikran Engineering Ltd.’s revenue grew by 16.52% and PAT grew by 3.98% in the Financial Year ending 2025.
Gem Aromatics Ltd. IPO Note
Gem Aromatics is an established manufacturer of specialty ingredients, including essential oils, aroma chemicals, and
value-added derivatives, with a proven track record of over two decades. Its products cater to a diverse set of industries
such as oral care, cosmetics, nutraceuticals, pharmaceuticals, wellness & pain management, and personal care.
Mangal Electrical IPO Note
Mangal Electrical Industries Ltd. (MEIL) specializes in processing transformer components, including transformer
laminations, CRGO slit coils, amorphous cores, coil and core assemblies, wound and toroidal cores, and oil-immersed circuit breakers. They also trade CRGO and CRNO coils, as well as amorphous ribbons.
MEIL’s revenue grew by 22.23% and PAT shot up by 125.88% in the Financial Year ending 2025.
Patel Retail Ltd. IPO
Incorporated in Fiscal 2008, they are primarily engaged as a retail supermarket chain operating in tier-III cities and nearby
suburban areas, with focus on “value retail”, offering food, non-food (FMCG), general merchandise and apparel catering to
the needs of the entire family.
Patel Retail’s revenue grew by 0.79% and PAT grew by 12.16% in the financial year 2025
Shreeji Global Shipping Ltd. IPO
Established as a partnership firm in the year 1995, Shreeji Global Shipping Ltd. (SGSL) provides Shipping and Logistic Solution for Dry Bulk Cargo at various Ports and Jetties in India and Sri Lanka. As of March 31, 2025, they have a fleet of more than 80 vessels and more than 370 earthmoving equipment in services of their client.
SGSL’s revenue declined by 16.87% and PAT rose by 13.42% in the Financial Year 2025.s.
Vikram Solar Ltd. IPO
Vikram Solar Ltd. (VSL) is one of India’s largest solar photo-voltaic (PV) modules manufacturers in terms of operational
capacity, with more than 17 years of experience in the industry, with 4.50 GW of installed manufacturing capacity for solar
PV modules, and their enlisted capacity as per Ministry of New & Renewable Energy’s Approved List of Modules and
Manufacturers (ALMM) is 2.85 GW as of June 30, 2025.
VSL’s revenue rose by 36.33% and PAT grew by 75.42% in the Financial Year 2025.
Bluestone Jewellery IPO
BlueStone Jewellery and Lifestyle Limited is a leading digital-first Indian jewellery brand with a strong omni channel
presence. As of March 31, 2025, it operates 275 stores across 117 cities, including 200 company-owned and 75 franchise
stores.
BlueStone Jewellery & Lifestyle Ltd.'s revenue increased by 40%, while losses widened by 56% between the financial years
ending March 31, 2025, and March 31, 2024.
Regaal Resources IPO
Incorporated on 2nd January, 2012, Regaal Resources Ltd. is one of the largest manufacturers of maize based specialty products in India in terms of crushing capacity, with a total installed crushing capacity of 750 tonnes per day (TPD).
Regaal Resources Ltd.’s revenue grew by 52.52% and PAT grew by 115.26% in the Financial Year 2025.
All Time Plastics Ltd IPO
Established in 1971, All Time Plastics Ltd (ATPL) is an Indian plastic houseware manufacturer serving both B2B white-label
clients and B2C under its “All Time” brand.
All Time Plastics Ltd.'s revenue increased by 9% and profit after tax (PAT) rose by 6% between the financial year ending with
March 31, 2025 and March 31, 2024.
JSW Cement IPO
JSW Cement (JSWC) is among the top 3 fastest growing cement manufacturing companies in India in terms of increase in
installed grinding capacity and sales volume from FY15 to FY25. They are among the top 10 cement companies in India in
terms of installed capacity and sales volume as of FY25.
JSW Cement’s revenue declined by 3.56% in and PAT turned negative Rs. 163.77, in FY25. In FY24, revenue grew by 3.27%
and PAT fell by 40.39%.
Highway Infrastructure Ltd. IPO
Highway Infrastructure Limited (HIL) is an infrastructure development and management Company. They are engaged in the
business of tollway collection, EPC (Engineering, procurement and construction) Infra and real estate business.
Their revenue declined by 13.55% and profit after tax (PAT) rose by 4.62% between the financial
year ending with March 31, 2025 and March 31, 2024.
Sri Lotus Developers IPO Note
Sri Lotus Developers operates in the residential and commercial real estate sector in Mumbai, Maharashtra, with a strategic focus on the ultra-luxury and luxury segments. The company has a portfolio of 4 completed projects, 5 ongoing projects, and 11 upcoming projects. In FY 2025, the company reported a 22% increase in revenue and a 91% rise in net profit as compared to the previous fiscal year, reflecting strong operational efficiency and strategic execution in the premium market segment.
NSDL IPO
NSDL is a SEBI-registered market infrastructure institution (MII) offering a wide range of products and services to the financial and securities markets in India. As of March 31, 2025, NSDL had over 3.94 crore active demat accounts, accounting for ~89% of the market value of demat custody in India (as of FY24), representing more than Rs. 464.16 lakh crore in value. Revenue increased by 12% YoY, and profit after tax (PAT) rose by 25% YoY in FY 2025.
Aditya Infotech IPO Note
Aditya Infotech offers a comprehensive range of products in video security and surveillance, technologies, and solutions under its prominent brand- “CP PLUS”. It is the largest market player in the domestic market with a 20.8% market share in terms of revenue. It has a strong pan-India presence, distributing products across over 550 cities through over 1,000 distributors and more than 2,100 system integrators. In FY 2025, revenue increased by 12% YoY, and the net profit rose by 205% YoY.
Laxmi India Finance Ltd. IPO
Incorporated in 1996, Laxmi India Finance Limited is a non-deposit taking Non Banking Financial Company. The company offers MSME loans, vehicle loans, construction loans, and other lending products, supporting small businesses and entrepreneurs.
Laxmi India Finance Ltd.'s revenue increased by 42% and profit after tax (PAT) rose by 60% between the financial year ending with March 31, 2025 and March 31, 2024, respectively.
Brigade Hotels IPO
Brigade Hotel Ventures Limited is the owner and developer of hotels in key cities in India, primarily across South India. The
company is a wholly-owned subsidiary of BEL(Brigade Enterprises Ltd), which is one of the leading Indian real estate
developers in India.
Brigade Hotel Ventures Ltd.'s revenue increased by 16% and profit after tax (PAT) dropped by 24% between the financial
year ending with March 31, 2025 and March 31, 2024.Respectively.
Shanti Gold IPO
Incorporated in 2003, Shanti Gold International Limited is engaged in the business of manufacturing gold jewellery. The company manufactures high-quality 22kt CZ casting gold jewellery, specialising in design and production.
Shanti Gold International Ltd.'s revenue increased by 55% and profit after tax (PAT) rose by 108% between the financial year ending with March 31, 2025 and March 31, 2024. Respectively.
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GNG Electronics IPO Note
GNG Electronics offers refurbished and other categories of ICT devices, including laptops, desktops, tablets, servers, premium smartphones, mobile workstations, and accessories. It operates under the brand "Electronics Bazar". The company serves a diverse customer base comprising small and medium businesses, large corporates, mid-sized enterprises, and government organizations. The company's revenue increased by 24% YoY and the net profit rose by 32% YoY in FY 2025.
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Indiqube Spaces IPO Note
Indiqube Spaces is a managed workplace solutions company offering comprehensive, sustainable, and technology-driven workplace solutions dedicated to transforming the traditional office experience. Its diverse solutions range from providing large corporate offices to small branch offices for enterprises and transforming the workplace experience. The company's revenue increased by 27.5% YoY to ₹1,059.29 crore and net loss narrowed from ₹341.51 crore to ₹139.62 crore in FY 2025.
Anthem Bioscience IPO
Incorporated in 2007, Anthem Biosciences Limited is an innovation-driven and technology-focused Contract Research, Development, and Manufacturing Organization (CRDMO) with fully integrated operations encompassing drug discovery, development, and manufacturing processes.
The company reported revenue of Rs. 1,844.55 crore in 2025 as against Rs. 1,419.37 crore in 2024. The company reportedprofit of Rs. 451.25 crore in 2025 against profit of Rs. 367.31 crore in 2024 respectively.
Smartworks Coworking Spaces IPO
Smartworks Coworking Spaces Limited, incorporated in 2015, is a leading office experience and managed campus platform.As of March 31, 2025, the company managed a total Super Built-up Area (SBA) of 8.99 million square feet, making it thelargest managed campus operator among benchmarked peers by total stock.
The company reported revenue of Rs. 1,374.06 crores in 2025 against Rs. 1,039.36 crores in 2024, translating a growth of32.22% YoY.
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Travel Foods IPO
Incorporated in 2009, Travel Food Services Limited is an Indian airport travel quick service restaurant and lounge. They utilise their F&B brand portfolio, comprising 127 partner and in-house brands, in the operation of 442 Travel QSRs across India and Malaysia as of March 31, 2025.
Travel Food Services Limited's revenue increased by 21% and profit after tax (PAT) rose by 27% between the financial year ending with March 31, 2025 and March 31, 2024 respectively.
Crizac Ltd IPO
Crizac Limited, formed in 2011, is a premier international student recruitment platform, handling more than 711,000 applications for a network of 173 partner institutions in over 75 other countries including the UK, Canada, Nigeria and Bangladesh. The company has recorded unprecedented top line growth, registering revenue growth of 60.26% in FY 25 and 93.38% in FY24.
Indogulf Cropscience IPO Note
Indogulf Cropsciences manufactures crop protection products, plant nutrients, and biologicals in India. Indogulf has a strong network of sales and dealers across 22 states and 3 union territories in India and over 34 countries outside India. In the nine months ended December 31, 2024, the company reported revenue of ₹464.19 crore and a net profit of ₹21.68 crore. In fiscal year 2024, the revenue stood at ₹552.23 crore and a net profit stood at ₹28.23 crore.
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Sambhv Steel IPO
Sambhv Steel Tubes Limited was founded in 2007. The company makes Electric Resistance Welded (ERW) Steel Pipes and Structural Tubes in India. The manufacturing facility is situated in Village - Sarora, Tehsil Tilda, Raipur, in the mineral-abundant state of Chhattisgarh. As of December 31, 2024, the company has a large distribution network in India. It covers 15 states and one union territory. It is found in several Indian states. These include Chhattisgarh, Maharashtra, Gujarat, Haryana, Rajasthan, Uttar Pradesh, Madhya Pradesh, and Telangana. Its Revenue increased by 5% while PAT declined by 34% YoY in FY25.
Kalpataru IPO Note
Kalpataru is a prominent real estate developer and has completed over 75 projects in the MMR and Pune markets, focusing on luxury, premium, and mid-income residential, commercial, and retail projects, integrated
townships, lifestyle gated communities, and redevelopments. The company's net profit turned positive for the nine months ended December 31, 2024.
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HDB FInancial IPO
HDB Financial ServicesLimited is a retail-focused NBFC. Its lending products are offered through the three business verticals: Enterprise Lending, Asset Finance and Consumer Finance. It is the seventh largest leading and diversified NBFC in India in terms of total
gross loan book at ₹90,220 crore as of March 31, 2024. Revenue increased by 15% YoY and PAT dropped by 12% YoY in fiscal 2025.
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Ellenbarrie Industrial Gases Ltd IPO Note
Incorporated in 1973, Ellenbarrie Industrial Gases Limited (EIGL) is an Indian company specialising in the production and supply of industrial, medical, and speciality gases. Ellenbarrie Industrial also supplies medical equipment such as anaesthesia workstations, spirometers, ventilators, sterilizers, bedside monitors, and lung diffusion testing machines to healthcare facilities. The company includes 250 permanents and 67 contractual employees as of March 31, 2024. Ellenbarrie Industrial Gases Limited's Revenue increased by 16% while Profit after tax (PAT) rose by 84% YoY in FY25.
Globe Civil Projects Ltd IPO Note
Globe Civil Projects Limited is an integrated EPC company. The company has successfully completed 37 projects. Currently, it is working on 12 ongoing projects. As of March 31, 2025, the order book stands at ₹669.1 crore, providing multi-quarter revenue visibility. The company reported revenue of ₹334.81 crore and a net profit of ₹15.38 crore in FY 2024.
Arisinfra Solutions IPO
Arisinfra Solutions Limited is a B2B technology-enabled company operating in the construction materials sector. It procures construction materials from vendors and secures payments from customers for construction materials sold. Over the past three fiscal years, Arisinfra has experienced fluctuating revenue growth and has reported a net loss.
Oswal Pumps Ltd IPO Note
Oswal Pumps Limited is a well-established manufacturer and distributor of a wide variety of pump solutions, serving domestic, agricultural, and industrial applications. In FY25, the company reported a revenue of ₹1,420.89 crore and a profit after tax (PAT) of ₹288.95 crore on an annualized basis.
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Scoda Tubes IPO Note
Scoda Tubes Limited is a manufacturer of stainless steel tubes and pipes. The company expanded its reach to 16 countries, including prominent markets like the United States, Germany, the Netherlands, Italy, Spain, France, and many more. The company reported revenue of ₹402.49 crore in 2024 against ₹307.79 crore in 2023. The company reported a net profit of ₹18.30 crore in 2024 against a net profit of ₹10.34 crore in 2023.
Prostarm Info Systems Ltd IPO
Prostarm Info Systems is engaged in designing, manufacturing, assembling, selling, servicing, and supplying Energy Storage Equipment and Power Conditioning Equipment in India. The company reported revenue of ₹259.23 crore in 2024 against ₹232.35 crore in 2023. The company reported a net profit of ₹22.80 crore in 2024 against a net profit of ₹19.35 crore in 2023.
Aegis Vopak IPO
Incorporatedin2013,AegisVopakTerminalsLimited(AVTL) isacompanythatownsandoperatesstorageterminals for liquefied petroleumgas(LPG) and various liquid products.The company provides safe storage and related infrastructure for
products like petroleum,vegetableoils, lubricants,chemicals,and gases such as propane and butane.AegisVopakhasthe
largeststoragecapacityinIndia’sLPGtankstoragesector,contributingtoapproximately12.23%ofthetotalnationalstatic
capacity.Thecompanyhasadiversifiednetworkofterminalsspreadstrategicallyacrossfivekeyportsinoperationonthe
WestandEastcoastsof India.Thesekeyportstogetherhandleapproximately23%of liquidand61%of totalLPGimport
volumesinIndia.AVTLruns itsbusinessthroughtwomaindivisionsGasTerminalDivision–whichfocusesonstoringand
handlingLPG, includingpropaneandbutane.
Schloss Bangalore IPO Note
Incorporated in2019, SchlossBangaloreoperates as India’s only institutionallyownedandmanagedpure-play luxury
hospitalitycompanyunder “TheLeela”brand.Renownedglobally, “TheLeela” rankedamongthetopthreehospitality
brands in2023and2024, followingconsecutive1rankings in2020and2021byTravel +LeisureWorld’sBestAwards.
Establishedin1986,thebrandhasastronglegacyinIndianluxuryhospitality,withover250awardsearnedsinceJanuary
2021.Strategicallypositionedacross10keyIndianbusinessandleisuredestinations, itrepresents18%of luxurykeys in
thesemarkets.Plansareunderwaytoexpandwitheightnewproperties,adding833keysby2028.Thisgrowthincludes
modernpalaces, resorts,andventures intowildlife, spiritual,andheritagetourism,broadeningitsgeographicreachand
diversifyingitsofferings.
Belrise Industries IPO Note
Belrise Industries manufactures automotive sheet metal and casting parts, polymer components, suspension systems, and mirror assemblies, specifically for two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles. The company reported revenue of ₹7,555.67 crore in 2024 against ₹6,620.78 crore in 2023. The company reported a profit of ₹310.88 crore in 2024 against a profit of ₹313.66 crore in 2023.
Borana Weaves IPO Note
Incorporated in 2020 Borana Weaves is a textile manufacturer based in Surat, Gujarat, specializing in the production of
unbleached synthetic grey fabric. This fabric is widely used as a base for further processing, including dyeing and printing,in
various industries such as fashion, traditional textiles, technical textiles, home decor, and interior design, due to its
versatility. In addition to grey fabric, the company also manufactures polyester textured yarn (PTY Yarn), which is produced
by heating polyester-oriented yarn (POY Yarn), the raw material used in the production of grey fabric.
Ather Energy Limited IPO
Ather Energy, founded in 2013 by Tarun Mehta and Swapnil Jain, is an innovative Indian electric two-wheeler company that designs, develops, and manufactures its EVs, batteries, charging infrastructure, and software with a strong focus on indigenous technology. By February 2025, Ather had secured significant intellectual property with 303 trademarks, 201 designs, and 45 patents globally.
Quality Power Electrical Equipments Ltd IPO
Quality Power Electrical Equipments Ltd operates in the field of energy transition technologies and power solutions. As a prominent Indian company, it specializes in essential equipment for energy transition and high-voltage electrical systems, focusing on grid connectivity and energy transformation. In 2024, the company achieved a revenue of ₹331.4 crores. Its profit for 2024 stood at ₹55.47 crores.
Hexaware Technologies Ltd IPO
Hexaware Technologies Limited is engaged in the business of global digital and technology services with artificial intelligence. As of September 30, 2024, the company has a global delivery presence with 39 centers and 16 offices across the Americas, Europe, and APAC. The company's consolidated net profit increased 12.8% to ₹997.6 crore in FY2023-24, compared to ₹884.2 crore in the previous fiscal respectively.
Ajax Engineering Limited IPO
Ajax Engineering, founded in 1992, is a leading Indian manufacturer of concrete equipment, offering a wide range of products from SLCMs to 3D printers. With a dominant market share and strong financial performance, they are a key player in the global concrete equipment industry.
Dr Agarwal's Health Care Ltd IPO
Founded in 2010, Dr. Agarwal's Health Care Limited has become a leading name in the eye care industry, offering various products and services. With a robust network of 165 facilities across India and an international presence in nine African countries. In FY24, the company reported Revenue from Operations ₹1,332.15 crores vs. ₹1,017.98 crores in FY23 with Profit After Tax of ₹95.05 crores vs. ₹103.23 crores in FY23.
Denta Water & Infra Solutions Ltd IPO
Incorporated in 2016, Denta Water and Infra Solutions is a well-established player in the water engineering, procurement, and construction (EPC) services sector, boasting a strong record in infrastructure project installations. As of 30 Nov. 2024, the company has implemented 32 water management projects 11 as prime contractor, 1 joint venture, and 20 as sub-contractor. The company reported revenue of ₹241.84 crores in 2024 against ₹175.75 crores in 2023. The company reported a profit of ₹59.73 crores in 2024 against a profit of ₹50.11 crores in 2023 respectively.
Stallion India Fluorochemicals Ltd IPO
Incorporated in 2002, Stallion India Fluorochemicals Ltd sells Refrigerants, Industrial Gases, and related products. The company has been in the market for over two decades and has strong market recognition in the refrigerant gases industry. The company reported revenue, including other income, of ₹236.23 cr in 2024 against ₹226.06 cr in 2023. The company reported a net profit of ₹14.79 cr in 2024 against a net profit of ₹9.75 cr in 2023, respectively.
Laxmi Dental Ltd IPO
Incorporated in July 2004, Laxmi Dental Limited is an integrated dental products company. With over 20 years of work experience and market presence, Laxmi Dental company is one of the biggest dental laboratories in the other two. The company has successfully catered to both global and domestic demand, exporting its dental products to more than 95 countries and distributing them across 320 cities in India. The company reported revenue including other income and net profit of ₹195.26 cr and ₹25.23 cr in FY2024, respectively.
Quadrant Future Tek IPO
Quadrant Future Tek specializes in advanced train control and signaling systems, including cables for railways, defense, and renewable energy, with manufacturing facilities across India. Despite a slight revenue decrease, the company saw a profit increase in the latest financial year, driven by its focus on technology and quality standards.
Capital Infra Trust InvIT IPO
Capital Infra Trust, sponsored by Gawar Construction, focuses on road and highway projects across 19 states, managing 682.425 km of operational roads across 7 states under SEBI InvIT regulations.
Indo Fram Equipment Limited IPO
Indo Farm Equipment Ltd., established in 1994, manufactures tractors (16-110 HP), pick & carry cranes (9-30 tons), and other farm equipment, exporting to various countries. They also offer financing through their NBFC subsidiary, Barota Finance Limited.
Standard Glass Lining Technology Ltd IPO
Standard Glass Lining Technology Limited, established in 2012, manufactures specialized engineering equipment, offering turnkey solutions for pharmaceutical and chemical industries, with expertise in glass-lined, stainless steel, and nickel alloys.
Unimech Aerospace and Manufacturing Limited IPO
Unitech Aerospace, founded in 2016, manufactures complex tools and components for aerospace, defense, energy, and semiconductor industries, offering both "build to print" and "build to specifications" services. Between FY2023 and FY2024, the company saw a 125% revenue increase and a 155% rise in profit after tax, supplying over 2,980 SKUs to 26+ customers across 7 countries.
Senores Pharmaceuticals Limited IPO
Senores Pharmaceuticals, founded in 2017, develops and manufactures pharmaceuticals for regulated markets (US, Canada, UK) and emerging markets, with a portfolio of 55 launched products as of September 2024.
Carraro India Limited IPO
Carraro India Ltd, founded in 1997, manufactures axles, transmission systems, gears, and components for agricultural, construction, and automotive sectors. The company uses advanced technologies and maintains a strong network of 220 domestic and 58 international suppliers.
Concord Enviro Systems Limited IPO
Concord Enviro Systems, founded in 1999, is a global provider of water and wastewater treatment solutions, including zero-liquid discharge (ZLD) technology, offering comprehensive services from design to operation and maintenance. 1
With manufacturing facilities in India and the UAE, they serve over 377 customers worldwide across various industries, focusing on energy optimization and water conservation
Sanathan Textile Limited IPO
Sanathan Textiles Limited, founded in 2005, manufactures and supplies polyester and cotton yarns, including specialized yarns for technical textiles used in various industries. 1 As of June 2024, they offered over 3,200 active yarn varieties, could manufacture 14,000, and distributed to over 925 distributors in 7 countries.
Transrail Lighting Limited IPO
Transrail Lighting Limited is an engineering and construction company focused on power transmission and distribution and manufacturing lattice structures, conductors, and monopoles. Since its inception, the company has completed over 200 power transmission and distribution projects and has a presence in 58 countries. In FY 2024, revenue from operations surged by 30.2% and the net profit rose by 116.8% YoY basis.
Mamata Machinery Limited IPO
Mamata Machinery, founded in 1979, is a leading manufacturer and exporter of plastic packaging machinery, serving the FMCG, food, and beverage industries. They offer complete solutions, from individual machines to entire production lines, with facilities in both India and the USA.
DAM Capital Advisors Limited IPO
Founded in 1993, renamed SSKIPL in 1994, and rebranded as DAM Capital Advisors in 2020, it offers investment banking, equities, ECM, M&A, private equity, and advisory services, with 121 employees and 263 active clients globally.
International Gemmological Institute (India) Limited IPO
Established in 1999, the International Gemmological Institute (IGI) is a global leader in certifying and grading diamonds, gemstones, and jewelry. IGI provides independent grading reports detailing a stone's 4Cs (color, cut, clarity, carat weight) based on international standards.
With 31 labs and 18 schools worldwide, IGI also offers gemological education, degree programs, and conducts research in the field.
Sai Life Sciences Ltd IPO
Incorporated in January 1999, Sai Life Sciences Limited researches, develops, and manufactures small molecule new chemical entities. The company offers tailor-made services to biotech firms and global pharma companies. The company worked with 18 of the top 25 pharmaceutical companies based on their revenue. The company's revenue increased by 20% and profit after tax rose by 729% between the financial year ending with March 31, 2024, respectively.
Inventurus Knowledge Solutions Limited IPO
Incorporated in 2006, IKS Health provides technology-driven administrative and clinical support services to healthcare enterprises, focusing on the US. It offers solutions like virtual scribing, improving clinical outcomes, efficiency, and reducing operational costs.
Vishal Mega Mart Limited IPO
Vishal Mega Mart, founded in 2001, is a major Indian hypermarket chain. They sell a vast array of products, from clothing and groceries to electronics and home goods. With a strong presence across India, they are one of the country's leading diversified retailers.
One Mobikwik Systems Limited IPO
Founded in 2009, MobiKwik offers digital payment solutions via its wallet, enabling seamless transactions for utility bills, e-commerce, retail, and more. It serves 101.37 million users and 3.44 million merchant partners.
Property Share Investment Trust SM REIT IPO
The Property Share Investment Trust, a small-cap REIT, aims to raise funds to invest in various real estate properties like offices, warehouses, retail centers, and more. This allows individual investors to participate in real estate markets through stock investments.
Suraksha Diagnostic Limited IPO
Suraksha Diagnostic Limited, a leading healthcare provider in East India, offers a wide range of pathology and radiology services through its extensive network of laboratories and collection centers across West Bengal, Bihar, Assam, and Meghalaya.
Enviro Infra Engineers Ltd IPO
Enviro Infra Engineers Limited, founded in 2009, specializes in the design, construction, operation, and maintenance of water and wastewater treatment plants (WWTPs) and water supply projects (WSSPs) for government entities. Enviro Infra reported a revenue from operations of ₹728.91 crore for FY2024, reflecting an 80.58% CAGR from ₹223.52 crore in FY2022. Enviro Infra has a diversified portfolio, with 21 projects worth ₹1,906.28 crore, including 5 WSSPs and 16 WWTPs.
NTPC Green Energy Ltd IPO
NTPC Green Energy Ltd (NGEL), a wholly owned subsidiary of NTPC Ltd is the largest renewable energy public sector enterprise (excluding hydro energy) in term of operating capacity as of Sep’24 and power generation as of Mar’24. As of Sep'24, NTPC Green’s operational capacity stood at 3,220 MW of solar projects and 100 MW of wind projects across 6 states with Power Purchasing Agreement (PPA) period of 25 years. NTPC Green Energy Limited's revenue increased by 1094.19% and profit after tax (PAT) rose by 101.32% between the financial year ending with March 31, 2024, and March 31, 2023, respectively.
Zinka Logistics Solutions Ltd IPO
Zinka is India’s largest digital platform for truck operators, serving over 9.6 lakh annual transacting truckers and facilitating more than 41.33 crore transactions in FY 2024. It covers 27.5% of truck operators in India and handles 32.9% of commercial vehicle toll payments. It covers 80% of the districts of India and 76% of the toll plaza network as of June 2024.
Niva Bupa Health Insurance IPO
Niva Bupa Health Insurance, founded in 2008 as a joint venture between Bupa Group and True North, operates in India with over 160 branches. It offers comprehensive family health insurance, backed by Bupa's global expertise across 190 countries.
Acme Solar Holdings Limited IPO
ACME Solar Holdings Limited is a leading Indian renewable energy producer, primarily focused on wind and solar energy. The company is actively expanding its operations, particularly in Uttar Pradesh, through significant projects like the 600 MW closed-loop pump storage project, positioning itself as a major contributor to India's renewable energy goals.
Swiggy Ltd IPO
Swiggy, founded in 2014, is a technology company offering a unified app for users to order food, groceries, and household items. Its business operates as a B2C marketplace, connecting customers with restaurant and merchant partners. The company operates five key segments: Food Delivery, Out-of-home Consumption, Quick Commerce, Supply Chain and Distribution, and Platform Innovations.
Swiggy reported a 25.39% CAGR in revenue over the past three years, reaching ₹11,247.39 crore for FY2023-24.
Sagility India Limited IPO
Sagility India Private Limited, a healthcare solutions provider, offers services like claims administration, payment integrity, and clinical management to US health insurers and healthcare providers. The company is based in Bangalore, India.
Afcons Infrastructure Limited IPO
Afcons Infrastructure Limited, part of the Shapoorji Pallonji group, has over 60 years of experience in infrastructure. As of September 2023, it has completed 76 projects in 15 countries, with 67 active projects and an order book of ₹31,747.43 crore as of June 2024. Its portfolio spans marine, transport, urban, hydro, and oil and gas sectors, with a global presence in Asia, Africa, and the Middle East.
Godavari Biorefineries Limited IPO
Godavari Biorefineries Ltd is a leading player in sugar, ethanol and ethanol-based products in India. It offers a well-diversified products range, and its revenue is also well diversified, leading by sugar and followed by ethanol and bio-chemicals. The company has been strategically penetrating and till now it has penetrated in 20 nations. Its retail brand "Jivana" has significantly grown with a CAGR of 72% in the last three years.
Deepak Builders & Engineers India Limited IPO
Deepak Builders & Engineers Limited is an EPC contractor focused on turnkey projects in infrastructure, healthcare, and industrial sectors, with notable works like the 3D Domes at Jang-E-Azadi and the Golden Temple's Heritage Walk. The company has demonstrated steady revenue and profit growth over the past three fiscal years, but a significant increase in profit and PAT margins in FY24 raises concerns about sustainability.
Warree Energies Limited IPO
Waaree Energies Limited, an Indian solar PV module manufacturer, has an installed capacity of 12 GW and a global presence, supporting sustainability efforts through its high-quality, cost-effective products.
Hyundai Motors India Limited
Hyundai Motor India, a subsidiary of the Korea-based Hyundai Group, was incorporated in 1996. The company manufactures and sells a range of passenger vehicles, including sedans, hatchbacks, SUVs, and electric vehicles (EVs), along with automotive parts like engines and transmissions. Hyundai captured about 15% of the domestic car market in FY 2024. Upcoming launches include the Creta EV in 2025 and a petrol-hybrid SUV from GM's Galegaon plant in 2026. Hyundai exports to various countries and has partnered with 363 dealers for sales in India.
Garuda Construction and Engineering Limited IPO
Garuda Construction and Engineering is a growing civil construction company offering various services for different project types across India. They have 7 ongoing projects with contract values over 100 crores each.
Diffusion Engineers Limited IPO
Diffusion Engineers Limited, based in Nagpur, Maharashtra, specializes in manufacturing welding consumables, wear plates, parts, and heavy machinery. With extensive experience, it serves core industries such as cement, steel, power, mining, engineering, oil & gas, and sugar, establishing itself as a trusted partner in these sectors.
KRN Heat Exchanger and Refrigeration Limited IPO
KRN Heat Exchanger and Refrigeration is a global leader in HVAC&R heat exchangers, serving major OEMs with high-quality products and extensive export reach.
Manba Finance Limited IPO
Manba Finance Limited, incorporated in 1998, is an NBFC offering vehicle, business, and personal loans. Headquartered in Mumbai, it operates in 65 locations across 5 states with over 850 dealer partnerships, including 60 EV dealers.
Arkade Developers Limited IPO
Arkade Developers, a Mumbai-based real estate firm established in 1986, specializes in creating high-quality residential and commercial spaces. With a focus on customer-centric design, timely delivery, and innovative construction, they have earned a reputation for reliability in the Indian real estate market.
Northern Arc Capital Limited IPO
Northern Arc Capital, founded in 2009, offers diverse financial services for underserved households and businesses in India. It specializes in MSME, microfinance, consumer, vehicle, affordable housing, and agricultural finance, serving the retail lending market through a multi-channel approach.
Western Carriers ( India) Limited IPO
Western Carriers (India) Limited, founded in March 2011, is India’s largest private, multi-modal, rail-focused 4PL logistics provider. It offers customizable solutions across road, rail, water, and air transport, serving diverse sectors with over 50 branches nationwide.
PN Gadgil Jewellers Limited IPO
As Maharashtra's second-largest organized jewelry player, the company achieved notable growth in FY 2024, with net sales rising 36% to Rs 6,110.95 crore. Operational efficiency improved, as indicated by a 169 basis point increase in operating margin to 4.41% and a 119% surge in operating profit to Rs 272.12 crore. The company plans to expand by opening 12 new stores, funded by its IPO, to strengthen its market presence.
Tolins Tyres Limited IPO
Tolins Tyres Limited, a tyre manufacturer specializing in bias tyres for various vehicles, operates from Mattoor, Kerala, and Ras Al Khaimah, UAE. They offer tyre retreading solutions and ancillary products, with 8 depots and 3,737 dealers across India, and export to 40 countries.
Kross Limited IPO
Kross Limited, founded in 1991, manufactures and supplies trailer axles, suspensions, and precision-machined safety-critical parts for medium/heavy-duty vehicles and agricultural equipment, maintaining strong relationships with OEMs and dealers.
Bajaj Housing Finance Limited IPO
Founded in 2015, Bajaj Housing Finance Limited is a leading Indian housing finance company offering home loans, loans against property, and developer financing. It boasts high credit ratings, low delinquency rates, and a hybrid service model.
Shree Tirupati Balajee Agro Trading Company Limited IPO
Shree Tirupati Balajee Agro Trading Company, based in Indore, manufactures and sells industrial packaging products like FIBCs and woven sacks. It operates through subsidiaries and exports to over 38 countries, consistently meeting targets with positive projections for 2025.
Gala Precision Engineering Limited IPO
Gala Precision Engineering Limited, incorporated in 2009, is a leading manufacturer of high-quality technical springs and fastening solutions. It serves various industries globally, with a strong presence in renewable energy. The company has seen significant growth, with revenue increasing by 22% between FY 2023 and FY 2024.
Bazar Style Retail Ltd IPO
Bazaar Style Retail, established in June 2013, operates 162 stores across 9 states, offering apparel and home goods. By Fiscal 2027, Eastern and Northern India’s retail market is projected to expand to 8,000 stores.
ECOS (India) Mobility & Hospitality Limited IPO
ECOS Mobility and Hospitality, incorporated in February 1996, is India's largest and most profitable provider of chauffeur-driven mobility services, offering self-drive cars in major cities. Operating a fleet of over 9,000 vehicles, including luxury and specialty vehicles, the company serves major clients like Indigo, HCL, Safexpress, Deloitte, Urban Company, and IndusInd Bank.
Premier Energies Limited IPO
Premier Energies, established in April 1995, manufactures solar cells and panels, with five facilities in Hyderabad, India. The company serves notable clients like NTPC, TATA Power, and Panasonic, and has executed significant solar projects across India, including a 100 MW installation and canal top projects. Premier Energies exports to countries such as the U.S., Germany, and South Korea.
Orient Technologies Limited IPO
Founded in July 1997, Orient Technologies Limited, based in Mumbai, offers IT solutions across Managed Services, Multi-Vendor Support, and more. It serves sectors like BFSI, IT, and Healthcare, with clients including Coal India and Mazagon Dock.
Brainbees Solutions Limited (Firstcry) IPO)
Brainbees Solutions Limited, founded in 2010, runs FirstCry, India's top platform for mother and baby products. Expanding internationally, the IPO runs from August 6-8, 2024, offering shares at ₹440-₹465. Total issue size: ₹4,193.73 Cr.
Unicommerce eSolutions Limited IPO
Founded in February 2012, Unicommerce eSolutions Limited offers SaaS for e-commerce management to brands, sellers, and logistics. With clients like Lenskart and Fabindia, it operates in India and six other countries, driving e-commerce innovation.
Ola Electric Mobility Limited IPO
Ola Electric, founded in 2017, is India's leading electric two-wheeler manufacturer, dominating the market with its Ola S1 scooter and expanding its product range to include motorcycles.
Ceigall India Limited IPO
Founded in 2002, Ceigall India focuses on advanced infrastructure like roads, bridges, and tunnels. By July 2024, it managed 18 projects, with 34 completed, and had an order book of Rs 9,470.84 crore.
Akums Drugs and Pharmaceuticals Limited IPO
Akums Drugs is a pharmaceutical CDMO established in 2004, manufacturing various dosage forms for top Indian and global pharma companies, with a strong presence in over 60 countries.
SanStar Limited IPO
Sanstar, founded in 1982, manufactures plant-based specialty products in India for food, animal nutrition, and industrial use. Its range includes glucose, maltodextrin, starches, and co-products. With exports to 49 countries, it operates nationwide across 22 states.
Emcure Pharmaceuticals Limited IPO
Emcure Pharmaceuticals, founded in 1981, is a leading Indian pharmaceutical company with a global presence, focusing on chronic illnesses and women's health. They manufacture a wide range of medicines in India and export to over 70 countries.
Bansal Wires Industries Limited IPO
Founded in 1985, Bansal Wire manufactures stainless steel wire across three segments. With four facilities in India, it exports to 50+ countries. It plans to diversify with a new plant in Dadri.
Vraj Iron & Steel Limited IPO
Established in June 2004, Vraj Iron and Steel Ltd. operates in Raipur and Bilaspur, Chhattisgarh, spanning 52.93 acres. Specializing in Sponge Iron, M.S. Billets, and TMT bars under the Vraj brand, expanding production to 5,00,100 TPA by 2023, with enhanced power plant capacity.
Allied Blenders and Distillers Limited IPO
Allied Blenders and Distillers, incorporated in 2008, is an Indian-made foreign liquor company. It offers whisky, brandy, rum, vodka, and packaged drinking water under brands like Officer’s Choice, Officer’s Choice Blue, and Sterling. Officer’s Choice Whisky, launched in 1988, is among the top-selling whisky brands globally by annual sales volume.
Stanley Lifestyles Limited IPO
Founded in 2007, Stanley Lifestyles Ltd designs and crafts super-premium luxury furniture under the "Stanley" brand. It dominates India’s high-end market, offering home solutions and handcrafted excellence in major metro cities.
Akme Fintrade India Ltd IPO
Founded in 1996, Akme Fintrade India Ltd is an NBFC specializing in rural and semi-urban lending across Rajasthan, Maharashtra, Madhya Pradesh, and Gujarat. It offers Vehicle and Business Finance, serving over 200,000 customers from Udaipur and Mumbai offices.
DEE Development Engineers Limited IPO
DEE Development, founded in 1988, is India's leading provider of specialized process piping solutions and related products for critical industries. They boast a large manufacturing footprint across India and Thailand, with a proven track record of supplying complex piping systems globally.
Ixigo limited IPO
Le Travenues Technology Ltd., operating under the brand name "IXIGO" is an online travel agency (OTA) that allows travelers to book train, flight, and bus tickets as well as hotels through its platforms. Utilizing AI, machine learning, and data science, ixigo helps users make smarter travel decisions. As of September 2023, it has 83 million monthly active users across its apps.
Kronox Lab Sciences Limited IPO
Kronox Lab Sciences Limited is a global manufacturer of over 185 high-purity specialty fine chemicals, including phosphates, sulfates, and acetates. The company aims to expand its product portfolio, increase supply to existing customers, tap new markets, and explore new product applications. Plans include expanding capacity, diversifying with a new manufacturing facility, focusing on import substitution, and increasing exports.
Awfis Space Solutions Ltd IPO
Established in December 2014, Awfis Space Solutions Ltd. provides workspace solutions in India, including co-working, flexible offices, and supporting services. Operating 169 centers across 16 cities as of December 31, 2023.
Go Digit General Insurance Ltd IPO
Go Digit General Insurance Ltd. (GDGIL) is a leading digital full-stack non-life insurance company in India, known for its innovative approach to insurance products and services.
Aadhar Housing Finance Ltd
Incorporated in 2010, Aadhar Housing Finance Limited is a housing finance company targeting the lower income segment. The average ticket size of Aadhar Housing Finance loans was INR 9 laks to INR 10 lakhs
TBO Tek Limited IPO
Established in 2006, TBO Tek Limited, previously Tek Travels Private Limited, offers a tailored travel distribution platform supporting various currencies and forex. Operating an online B2B platform, it connects buyers and suppliers, streamlining travel business for over 7500 destinations globally.
Indegene Limited IPO
Established in 1998, Indegene Limited specializes in digital solutions for life sciences, empowering companies globally, honored for workplace health commitment in 2023.
JNK India Limited IPO
Established in 2010, JNK India specializes in designing, manufacturing, and installing process-fired heaters globally. With over 17 Indian and 7 international clients, including major corporations, they ensure tailored products meeting standards.
Vodafone Idea Limited FPO
Vodafone Idea Limited, established in 1995, is a leading Indian telco offering 2G-4G services, including digital solutions. Despite financial hurdles, it expands domestically and plans 5G rollout.
Bharti Hexacom Limited IPO
Incorporated in 1995 as 'Hexacom India Ltd'. Bharti Hexacom is communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North-East telecommunication circles in India
SRM Contractors Ltd IPO
Established in 2008, SRM Contractors Limited specializes in civil construction in Ladakh and Jammu & Kashmir. Certified and pre-eligible for government projects, they've completed 37 infrastructure projects, eyeing opportunities in the ₹17 trillion highway sector.
Krystal Integrated Services Limited IPO
Krystal Integrated Services, incorporated in December 2000, offers a broad range of facilities management services, including housekeeping, sanitation, landscaping, and more, serving 2,427 customer locations across 14 states and one union territory in India, with 21 branches and a Training Academy in Vashi, Maharashtra.
Popular Vehicles & Services Limited IPO
Popular Vehicles, a full-service auto dealership in India (founded in 1983), offers sales, service, parts, and more for passenger vehicles (including luxury), commercial vehicles, and electric two/three-wheelers. They represent major brands like Maruti Suzuki, Honda, JLR, and Tata Motors.
Gopal Snacks Ltd IPO
Gopal Snacks Limited, established in 1999, is a leading FMCG company distributing ethnic and western snacks, along with other products, across ten states and two Union Territories in India. With 276 SKUs, it operates six manufacturing facilities and is a top player in Gujarat.
JG Chemicals Ltd IPO
JG Chemicals Limited, established in 1975, is a leading zinc oxide manufacturer using the French process. With over 80 grades, they serve various industries globally, including rubber, ceramics, paints, pharmaceuticals, electronics, and agro-chemicals.
RK Swamy Ltd IPO
Established in 1973, R K Swamy Limited specializes in integrated marketing communications, customer data analysis, and full-service market research. As India's largest majority-owned integrated marketing services provider, it offers creative, media, data analytics, and research services. With a nationwide presence and numerous prestigious clients, they lead in innovative marketing solutions.
Platinum Industries Ltd IPO
Established in 2016, Platinum Industries manufactures stabilizers, specializing in PVC and CPVC additives, lubricants. Operating in specialty chemicals, it plans a manufacturing facility in Maharashtra, India, with a broad distribution network.
Exicom Tele-Systems Ltd IPO
Incorporated in 1994, Exicom Tele-Systems Limited specializes in power systems, electric vehicle (EV) charging, and other related solutions. The company operates under two business verticals - Power Systems & EV Charging Solutions
GPT Healthcare Ltd IPO
Founded in 1989, GPT Healthcare Limited manages mid-sized hospitals in Eastern India under the ILS Hospitals brand, focusing on integrated healthcare services, particularly secondary and tertiary care. Based in Kolkata, West Bengal, they offer over 35 specialties, including surgery, gynecology, and diagnostic services, across multiple locations, with 561 beds. Renowned surgeon Om Tantia specializes in laparoscopic surgery with the company.
Juniper Hotels Limited IPO
Juniper Hotels, founded in 1985, owns 7 luxury and upscale hotels (1,836 rooms) across India, including the largest luxury hotel and biggest upper upscale hotels in some key cities. It's the Saraf Group's flagship hospitality entity, consolidating their hotel interests and seeking new opportunities
Entero Healthcare Solutions Limited IPO
Incorporated in the year 2018 to distribute healthcare products in India through an organized technology-driven platform. The
company actually provides healthcare product distribution services to pharmacies, hospitals, and clinics. The platform is one of
India's largest and fastest growing healthcare products distribution platforms. The company among the top-3 healthcare products distributors in India
Vibhor Steel Tubes Limited
Vibhor Steel Tubes Ltd specializes in manufacturing and exporting steel pipes for various industries. Their product range includes ERW pipes, hot-dipped galvanized pipes, hollow section pipes, primer painted
pipes, and crash barriers. With manufacturing facilities in Maharashtra and Telangana, the company serves aerospace,
shipbuilding, construction, power plants, and oil & gas industries.
Rashi Peripherals Limited IPO
Founded in 1989, this Indian company distributes global tech brands (routers, RAM, storage etc.) and offers value-added services like pre-sales, support, and marketing.
Capital Small Finance Bank Ltd IPO
Established in 1999, Capital Small Finance Bank is a pioneering SFB, headquartered in Jalandhar, Punjab, serving middle-income customers across northern India through 172 branches and 174 ATMs, with a focus on rural and semi-urban areas and offering tailored financial products.
Jana Small Finance Bank Limited IPO
Founded in July 2006, Bangalore-based public limited company provides diverse financial services, including loans, insurance, and infrastructure financing.
Novaagri Tech IPO
Founded in May 2007, specializes in farmer-centric, tech-driven tools for crop protection, nutrition, and soil health. Collaborating closely, they produce eco-friendly solutions, including subsidiary Nova Agri Sciences.
Epack Durable Limited IPO
Established in 2019, EPACK Durable Limited operates as an Original Design Manufacturer (ODM) specializing in
room air conditioners (RACs).. The company is second
largest ODM manufacturer in the Indian room air conditioner manufacturing market, with a market share of 29%.
Medi Assist Healthcare Services IPO
Founded in 2002, Medi Assist manages health benefits for insurance companies, employers, and public health schemes, acting as a bridge between insurers, providers, and beneficiaries. Despite international reach, retail revenue remains significant, contributing over ₹570 million annually.
Jyoti CNC Automation Limited IPO
Founded in 1991, Jyoti CNC builds and sells CNC machines worldwide, boasting diverse products and a strong client base across industries from aerospace to automotive. With a booming order book and growing production capacity, they're a major player in the global CNC landscape.
Innova Captab Limited IPO
Innova Captab, a pharma company founded in 2005, manufactures and sells over 600 generic drugs in India and abroad, employing 29 scientists and boasting 200 active product registrations.
Azad Engineering Limited IPO
Azad Engineering, a 40-year-old Indian manufacturer of key aerospace and energy components, supplies complex, mission-critical parts to global OEMs with facilities boasting capacity over 20,000 sq meters.
Motisons Jewellers Limited IPO
Established in 1997, Motisons Jewellers dazzles with over 300,000 designs from traditional to modern, in gold, diamonds, and more, across their Jaipur stores at diverse price points.
Suraj Estate Developers Limited IPO
Founded in 1986, Suraj Estate is a Mumbai builder with 42 completed projects, 13 ongoing, and 16 upcoming, focusing on "Value Luxury" and "Luxury" residential and high-profile commercial ventures.
Muthoot Microfin Limited IPO
Founded in April 1992, Muthoot Microfin empowers women in rural India through diverse microloans (livelihood, health, solar) and mobile payments, serving 2.77 million customers with 1,172 branches.
Inox India Limited IPO
Inox India (est. 1976) specializes in cryogenic tech: designing, building & installing tanks, kegs & custom solutions. From parts to projects, they handle it all in freezing temps
Doms IPO
DOMS (est. 2006): Top India stationery brand, dominating pencils & geometry kits, with global reach & FILA partnership.
India Shelter Finance Corporation Limited IPO
IndiaShelter (est. 1998): Makes homeownership dreams a reality, from modest loans to 5500 Crores disbursed, with iServe app & focus on women & first-time buyers.
Gandhar Oil Refinery India Limited IPO
Gandhar Oil (est. 1998): Makes "Divyol" white oils for personal care, healthcare & more, serving 3500+ clients & 100 countries.