Upcoming IPO: SEBI Clears IPO Plans of 7 Companies, Including Credila, Sri Lotus, and Euro Pratik

The capital market regulator, the Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) proposals of 7 companies, paving the way for them to raise capital from the public markets. Notable names include Credila Financial Services, Sri Lotus Developers and Realty, and Euro Pratik. Other firms receiving clearance are Caliber Mining and Logistics, Jaro Institute of Technology Management and Research, Jesons Industries, and Gem Aromatics.

Collectively, these companies aim to raise over ₹3,000 crore through their IPOs.

SEBI reviewed draft red herring prospectuses (DRHPs) submitted between October 2024 and January 2025 and issued final observations between May 13 and May 16, 2025. Here are the details of the 7 companies that received IPO approval.

Credila Financial Services

Credila Financial Services Ltd, formerly HDFC Credila, filed its IPO documents confidentially with SEBI in December under the pre-filing route, which allows the company to keep the details of its draft prospectus out of the public domain until a later stage. The education loan-focused NBFC has not yet disclosed the offer size or structure.

Sri Lotus Developers

Backed by high-profile Bollywood personalities and investor Ashish Kacholia, Mumbai-based Sri Lotus Developers is planning to raise ₹792 crore through a 100% fresh issue of shares. There is no offer-for-sale (OFS) component.

The proceeds will be used to fund its real estate subsidiaries—Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate Pvt Ltd—for ongoing developments such as Amalfi, The Arcadian, and Varun. A portion will also go toward general corporate expenses.

Euro Pratik Sales

Euro Pratik Sales, a key player in the decorative wall panels and laminates market, aims to raise ₹730 crore entirely through an OFS by promoters, as per its DRHP filed on January 20, 2025. No fresh shares will be issued, meaning the IPO proceeds will go directly to the selling shareholders.

Promoters currently hold an 87.97% stake, with the remaining 12.03% held by public shareholders.

Caliber Mining and Logistics

Nagpur-based Caliber Mining and Logistics, engaged in coal mining and logistics services, plans a ₹600 crore IPO, comprising a ₹500 crore fresh issue and a ₹100 crore OFS by promoters.

The company intends to use the proceeds for debt repayment, machinery acquisition, and general corporate purposes.

Jaro Institute of Technology Management and Research

Mumbai-headquartered Jaro Institute, a leading edtech firm in the higher education and upskilling space, is set to launch a ₹570 crore IPO, consisting of a ₹170 crore fresh issue and a ₹400 crore OFS by promoter Sanjay Namdeo Salunkhe. The DRHP was filed on September 30, 2024.

According to a Technopak report, Jaro ranks among India's top online education platforms based on key financial metrics, including EBITDA margin, PAT margin, ROE, and ROCE (as of March 2023). IPO proceeds will be used for marketing and brand-building, debt servicing, and corporate expansion.

Jesons Industries

Jesons Industries is launching an IPO that includes a ₹300 crore fresh issue and an OFS of 94.61 lakh shares by the promoter.

The funds will be allocated toward debt repayment, capital expenditure, and general corporate activities.

Gem Aromatics

Mumbai-based Gem Aromatics Ltd, a manufacturer of essential oils, aroma chemicals, and value-added derivatives, is targeting a mix of ₹175 crore fresh issue and OFS of 89.24 lakh shares (by promoters and investors). The IPO papers were submitted to SEBI on December 28, 2024.

With a strong presence in industries such as oral care, cosmetics, nutraceuticals, wellness, pharmaceuticals, and personal care, Gem Aromatics is one of India’s top producers of mint- and clove-oil-derived ingredients, both by volume and value.

IPO proceeds will be used for debt reduction and corporate expansion. The shares will be listed on both BSE and NSE.

Also Read: Shiprocket IPO: Zomato-Backed Startup Plans ₹2,500 Crore Issue via Confidential Filing

Conclusion

The recent approvals from SEBI signal renewed momentum in India’s IPO market, with a diverse mix of sectors—from education finance and real estate to speciality chemicals and mining—gearing up to tap public capital. The combined fundraising of over ₹3,000 crore reflects strong investor appetite and growing confidence in India’s growth story.

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 securities market are subject to market risks, read all the related documents carefully before investing.