The Securities and Exchange Board of India (SEBI) has given the green light to the initial public offerings (IPOs) of four diverse companies—Ajay Poly, Regaal Resources, Laxmi India Finance, and Jajoo Rashmi Refractories. These approvals mark a pivotal milestone for each company as they prepare to raise substantial capital from public investors through a mix of fresh issues and offers for sale.
Ajay Poly, headquartered in Delhi, is a specialist in refrigeration sealing solutions. The company is set to launch an IPO comprising a fresh issue of shares worth ₹238 crore and an offer for sale of up to 93,00,000 equity shares, each carrying a face value of Re 1. Ajay Poly had filed its IPO draft with SEBI on December 28, 2024. Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are acting as the lead managers, with KFin Technologies Limited serving as the registrar.
Regaal Resources, based in Kolkata, operates in the agro-processing sector, focusing on maize-based specialty products. The company aims to raise ₹190 crore through a fresh issue and is also offering up to 9 million equity shares for sale by its promoters. The face value of each share is ₹5. Regaal Resources filed its IPO papers on December 31, 2024. Pantomath Capital Advisors Private Limited and Sumedha Fiscal Services Limited are the lead managers, while Link Intime India Private Limited has been appointed as the registrar.
Laxmi India Finance, a Jaipur-based non-banking financial company (NBFC), has planned a public issue involving the fresh sale of 1,04,53,575 shares, along with an offer for sale of 56,38,620 shares. Each share has a face value of ₹5. The IPO application was submitted to SEBI on December 15, 2024. PL Capital Markets Private Limited is the sole book-running lead manager, and Link Intime India Private Limited is again the appointed registrar.
Jajoo Rashmi Refractories, also located in Jaipur, manufactures ferro alloys that are crucial for the steel industry. Its IPO is composed solely of a fresh issue, targeting ₹150 crore in capital, with each share carrying a face value of ₹10. The company filed its draft red herring prospectus on December 21, 2024. Unistone Capital Private Limited is managing the issue, and Bigshare Services Private Limited has been named as the registrar. Notably, this IPO will not include an offer-for-sale component.
The SEBI approvals underscore growing investor interest across a range of industries, from advanced manufacturing and agro-products to financial services. These IPOs are likely to generate attention from both institutional and retail investors, as each company brings unique value propositions and sectoral insights to the market.
