The Securities and Exchange Board of India (SEBI) has granted approval to five companies to raise capital through Initial Public Offerings (IPOs), as per its circular dated May 2, 2025.
The companies that received the regulator’s green light are Veritas Finance, Ajay Poly, Regaal Resources, Laxmi India Finance, and Jajoo Rashmi Refractories.
Chennai-based Veritas Finance is set to raise ₹2,800 crore via its IPO, consisting of a fresh issue of ₹600 crore and an offer-for-sale (OFS) worth ₹2,200 crore, according to its Draft Red Herring Prospectus (DRHP).
The OFS will see significant stake divestments by existing investors:
Delhi-based Ajay Poly, a manufacturer of refrigeration sealing solutions, aims to raise capital through a combination of fresh equity issuance worth ₹238 crore and an OFS of 93 lakh shares. The equity shares have a face value of Re 1.
The proceeds will be used to partially or fully repay existing borrowings, fund capital expenditures for new equipment and facilities across its units in Noida, Karegaon, Shirwal, and Chennai, and meet general corporate expenses. The DRHP was filed on December 28, 2024.
Kolkata-headquartered FMCG company Regaal Resources Limited received SEBI’s final observation on May 2, 2025. The IPO will include a fresh issue of ₹190 crore and an OFS of 90 lakh shares (face value ₹5 each).
Filed on December 31, 2024, the IPO will be managed by Pantomath Capital Advisors Pvt. Ltd. and Sumedha Fiscal Services Ltd., with Link Intime India Pvt. Ltd. as the registrar.
The company plans to use the proceeds to repay or prepay outstanding loans and support general corporate needs.
Jaipur-based NBFC Laxmi India Finance Limited has proposed a public issue consisting of a fresh issue of 1.04 crore equity shares and an OFS of 56.38 lakh shares, each with a face value of ₹5.
Filed on December 31, 2024, the funds raised will support the company’s business expansion and lending operations. Any remaining funds will be used for general corporate purposes. PL Capital Markets Pvt. Ltd. is the lead book-running manager, and Link Intime is the registrar.
Also based in Jaipur, Jajoo Rashmi Refractories Ltd.—a manufacturer and exporter of ferro alloys like ferro silicon, ferro manganese, and silico manganese—plans to raise ₹150 crore through a fresh issue of equity shares (face value ₹10 each). There is no OFS component in this IPO.
The funds will be used to establish a new manufacturing facility, expand production capacity, cover working capital needs, and support general corporate objectives. The draft papers were filed on December 21, 2024. Unistone Capital Pvt. Ltd. is managing the issue, while Bigshare Services Pvt. Ltd. will serve as the registrar.
Also Read: How to Apply For an IPO?
With SEBI’s latest approvals, these five companies are poised to tap into the Indian capital markets, reflecting continued investor interest across sectors such as finance, FMCG, manufacturing, and infrastructure.
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: May 7, 2025, 8:55 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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