India’s IPO market continues to witness strong activity as 7 companies received regulatory approval from the regulator, Securities and Exchange Board of India (SEBI) to launch initial public offerings.
A mix of fresh issues and offers for sale (OFS) is being lined up, allowing firms to raise capital for growth, reduce debt, and provide exits for existing investors. Here’s a roundup of the companies that received IPO approval.
Canara Robeco AMC is preparing to launch an IPO comprising 4.98 crore equity shares through a 100% offer for sale. Promoter Canara Bank will divest 2.59 crore shares, while ORIX Corporation Europe NV will offload 2.39 crore shares. As this is a pure OFS, the asset management company will not receive any direct proceeds from the offering.
Hero Motors is targeting ₹1,200 crore through a combination of a fresh issue and an OFS. The ₹800 crore fresh issue will be allocated towards repaying ₹285 crore of existing debt and funding ₹237 crore worth of equipment purchases at its Gautam Buddha Nagar facility. The ₹400 crore OFS will see OP Munjal Holdings sell ₹390 crore worth of shares, with Bhagyoday Investments and Hero Cycles each offloading ₹5 crore.
Emmvee Photovoltaic Power plans to raise ₹3,000 crore through an IPO that includes a ₹2,143.86 crore fresh issue and an ₹856.14 crore OFS. The majority of the fresh issue—₹1,607.90 crore, will go toward debt repayment and interest obligations, while the remainder will be used for general corporate purposes.
Fintech company Pine Labs is set to raise funds via a ₹2,600 crore fresh issue along with an OFS involving 14.78 crore shares. Key investors participating in the OFS include Peak XV Partners, Actis, PayPal, Mastercard, Temasek, Invesco, Madison India Capital, MW XO Digital Finance Fund Holdco, Lone Cascade LP, and Co-Founder Lokvir Kapoor. IPO proceeds will be used for ₹870 crore in debt repayment and ₹760 crore towards enhancing technology and cloud infrastructure.
Manipal Payment and Identity Solutions has confidentially filed its IPO papers with SEBI. The company is reportedly eyeing a ₹1,200 crore fundraise through a combination of fresh issuance and OFS. Specific details will be disclosed once the DRHP is made public.
Orkla India, the parent company of popular food brands MTR and Eastern, will launch an IPO solely via an OFS of 2.28 crore shares. The offering is designed to provide an exit opportunity to the promoters and existing shareholders.
Also Read: Upcoming IPO: Pine Labs Secures SEBI Nod of Up to $1 Bn Public Offering
Canara HSBC Life Insurance has received SEBI’s approval for an IPO consisting of up to 23.75 crore equity shares, entirely through an OFS. Canara Bank will offload 13.77 crore shares, HSBC Insurance (Asia-Pacific) will sell 0.47 crore, and Punjab National Bank will divest 9.5 crore shares. No funds will go to the company, as it is a pure OFS.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Sep 16, 2025, 10:25 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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