Together, the six IPOs are expected to mobilise at least ₹9,000 crore. They come amid a busy primary market, with 55 firms already raising about ₹75,000 crore this year and more than a dozen others set to launch offerings in the coming weeks. All six companies plan to list on both NSE and BSE.
1 / 7Canara Robeco AMC | Canara Robeco Asset Management Company will launch a 4.98-crore share IPO, entirely via an OFS. Canara Bank will sell 2.59 crore shares, while ORIX Corporation Europe NV will offload 2.39 crore. As it is a pure OFS, the company itself will not receive any proceeds.
2 / 7Hero Motors | Hero Motors is eyeing ₹1,200 crore through a mix of fresh issue and OFS. The fresh issue of ₹800 crore will go toward repaying ₹285 crore debt and ₹237 crore for equipment purchases at its Gautam Buddha Nagar facility. The ₹400-crore OFS includes ₹390 crore from OP Munjal Holdings and ₹5 crore each from Bhagyoday Investments and Hero Cycles.
3 / 7Emmvee Photovoltaic Power | Emmvee Photovoltaic Power is targeting ₹3,000 crore through an IPO comprising a ₹2,143.86-crore fresh issue and a ₹856.14-crore OFS. Of the fresh issue, ₹1,607.90 crore is earmarked for repayment or prepayment of loans and interest, with the balance for general corporate purposes.
4 / 7Pine Labs | Fintech major Pine Labs will raise funds through a ₹2,600-crore fresh issue and an OFS of 14.78 crore shares by investors, including 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. Proceeds of ₹870 crore will go to debt repayment and ₹760 crore towards technology and cloud infrastructure.
5 / 7Manipal Payment and Identity Solutions | Manipal Payment and Identity Solutions has filed confidentially with SEBI and aims to raise about ₹1,200 crore through its IPO.
6 / 7Orkla India | Orkla India, owner of MTR and Eastern Foods, will pursue a pure OFS of 2.28 crore equity shares. The proceeds will provide an exit opportunity for promoters and existing shareholders.
7 / 7Canara HSBC Life Insurance | Canara HSBC Life Insurance has received SEBI’s go-ahead for an IPO of up to 23.75 crore shares, entirely through an OFS. Canara Bank will offload 13.77 crore shares, HSBC Insurance (Asia-Pacific) 0.47 crore, and Punjab National Bank 9.5 crore.
