Several companies are gearing up to make their mark on the Indian stock market, having recently secured approval from the Securities and Exchange Board of India (SEBI) for their upcoming initial public offerings (IPOs). This announcement, made public on May 2, 2025, includes four notable firms: Ajay Poly, Reggal Resources, Laxmi India Finance, and Jajoo Rashmi Refractories. Each of these companies is poised to raise significant capital through their respective IPOs.
Ajay Poly’s IPO Journey
Based in Delhi, Ajay Poly specializes in refrigeration sealing solutions and has received its final observation from SEBI. The company aims to raise up to ₹238 crore through a combination of a fresh issue and an offer-for-sale (OFS).
- Fresh Issue: Up to ₹238 crore in equity shares valued at Re 1 each.
- OFS: 93 lakh equity shares available for sale.
The funds raised will primarily be allocated to repay existing loans, invest in new equipment, and support operations at its facilities in Noida, Karegaon, Shirwal, and Chennai. Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the lead managers for this IPO, with KFin Technologies Limited serving as the registrar.
Reggal Resources: Tapping into FMCG Potential
Reggal Resources, a fast-moving consumer goods (FMCG) company based in Kolkata, has also gained SEBI approval. The firm plans to raise up to ₹190 crore through its IPO, which involves:
- Fresh Issue: Up to ₹190 crore.
- OFS: 90 lakh shares with a face value of ₹5 each.
This capital infusion will assist in repaying certain debts while also supporting general corporate needs. Pantomath Capital Advisors Private Limited and Sumedha Fiscal Services Limited are managing the public issue, with Link Intime India Private Limited as the registrar.
Laxmi India Finance: Aiming for Growth
Laxmi India Finance, a non-banking financial company (NBFC) headquartered in Jaipur, is set to offer an IPO comprising:
- Fresh Issue: 1.04 crore shares priced at ₹5 each.
- OFS: 56.38 lakh equity shares.
The funds raised will be utilized for the company’s future business needs and lending operations, while some will be directed toward general corporate purposes. This IPO is managed by PL Capital Markets Private Limited, with Link Intime India Private Limited acting as the registrar.
Jajoo Rashmi Refractories: Expanding Horizons
Lastly, Jajoo Rashmi Refractories, also based in Jaipur, has received the green light from SEBI to launch its IPO. The company, known for manufacturing various ferro alloys crucial for steel production, is looking to raise ₹150 crore entirely through a fresh issue of equity shares valued at ₹10 each, with no OFS component.
The raised funds will be directed towards establishing a new manufacturing facility, expanding production capabilities, and meeting working capital requirements. Unistone Capital Private Limited is the lead manager, while Bigshare Services Private Limited will serve as the registrar for this offering.
Conclusion
These four companies are set to make waves in the Indian capital markets, each with distinct strategies and goals for their IPOs. As they embark on this journey, investors will be keenly watching how these offerings unfold, presenting opportunities for growth and investment in various sectors.
