SEBI Clears IPO Proposals of GNG Electronics, Amanta Healthcare, and Glottis

The capital markets regulator, the Securities and Exchange Board of India (SEBI), has given approval to the initial public offering (IPO) proposals of 3 companies — GNG Electronics, Amanta Healthcare, and Glottis. Here are details of these upcoming IPOs:

GNG Electronics IPO

Headquartered in Mumbai, GNG Electronics, the largest refurbisher of laptops and desktops in India has refiled its IPO papers on March 25, 2025. The company aims to bolster its financial position and scale operations.

The public issue will include:

• A fresh equity issue worth ₹450 crore
• An OFS of 51 lakh shares by existing promoters

The net proceeds from the fresh issue are intended for debt repayment and general corporate purposes.

The IPO will be managed by a consortium of lead managers — Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial.

Glottis IPO

Chennai-based Glottis, a logistics solutions provider, filed its draft red herring prospectus (DRHP) with SEBI on February 8, 2025, seeking to raise capital for business expansion and asset acquisition.

The IPO will consist of:

• A fresh issue of equity shares worth ₹160 crore
• An offer-for-sale (OFS) of 1.45 crore shares by promoters Ramkumar Senthilvel and Kuttappan Manikandan

Proceeds from the fresh issue will be primarily utilised for the purchase of commercial vehicles and containers, with remaining funds allocated toward general corporate expenses.

Pantomath Capital Advisors has been appointed as the sole book-running lead manager for the Glottis IPO.

Also Read: Upcoming IPOs This Week (June 23 - 27): HDB Financial, Kalpataru, Ace Alpha Tech and More to Hit the Market

Amanta Healthcare IPO

Ahmedabad-based Amanta Healthcare, a pharmaceutical company specialising in sterile liquid formulations, refiled its IPO draft documents on February 3, 2025, as it looks to fuel expansion plans.

The company’s IPO will be a purely fresh issue of 1.25 crore equity shares.

Amanta manufactures both large and small volume parenterals across six therapeutic areas and produces medical devices including IV fluids, diluents, ophthalmic and respiratory solutions, as well as closure systems.

The funds raised will go toward:

• Civil construction
• Acquisition of equipment and machinery
• Establishing new SteriPort and SVP manufacturing lines at its Hariyala facility in Gujarat

Beeline Capital Advisors is the exclusive merchant banker managing the Amanta IPO.

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