Upcoming IPOs: The Securities and Exchange Board of India (SEBI) has recently given the green light to five firms for their initial public offerings (IPOs), indicating a strong pipeline in the Indian capital markets. These approvals cover a variety of industries, such as renewable energy, financial services, steel production, specialty chemicals, jewelry, and logistics.
Vikram Solar IPO
Vikram Solar, a manufacturer of solar modules, is launching an IPO that consists of a fresh share issuance of up to ₹1,500 crore and an offer for sale (OFS) of approximately 17.45 million equity shares from promoters and the promoter group.
The company intends to utilize the proceeds of ₹793.36 crore for capital investments via its wholly-owned subsidiary, VSL Green Power Pvt Ltd, to establish a 3,000-MW facility dedicated to solar cell and module production.
Moreover, ₹602.95 crore has been allocated for the enhancement of the current solar module manufacturing facility, increasing its capacity from 3,000 MW to 6,000 MW, along with funds designated for general corporate needs.
Shreeji Shipping Global IPO
According to the draft documents, Shreeji Shipping Global Ltd’s initial public offering, which offers shipping and logistics solutions for dry bulk cargo, consists solely of a new issuance of 2 crore equity shares.
The firm intends to allocate ₹289.4 crore from the IPO proceeds to acquire supramax dry bulk carriers in the secondary market and plans to use an additional ₹19.5 crore for debt repayment.
Dorf-Ketal Chemicals IPO
Dorf-Ketal Chemicals India plans to launch an IPO worth ₹5,000 crore, consisting of a fresh issuance of equity shares totaling up to ₹1,500 crore and an Offer for Sale (OFS) of shares valued at ₹3,500 crore by the Menon Family Holdings Trust, according to the draft documents.
The fresh issue’s proceeds, amounting to ₹829 crore, will be utilized to reduce the company’s debt, while ₹333 crore will be invested in its subsidiary, Dorf Ketal Chemicals FZE, to settle or prepay its existing borrowings, and the remaining funds will be allocated for general corporate needs.
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