India's primary market pipeline is gathering momentum, with eight companies across sectors ranging from coal mining and financial services to defence, fintech, jewellery and travel receiving regulatory clearance to move ahead with their proposed initial public offerings (IPOs).
The list includes state-owned Mahanadi Coalfields, non-banking financial company Veritas Finance, defence technology player Sagar Defence Engineering, fintech major Razorpay and MakeMyTrip's India subsidiary. Other companies that have received regulatory observations include Encube Ethicals, Arjun Jewellers and IFL Finance.
The proposed public issues vary significantly in size and structure. While some companies plan to raise fresh capital to fund business expansion and lending requirements, others are looking to provide an exit route to existing shareholders through an offer for sale (OFS).
Here's a closer look at the eight upcoming IPOs, their proposed issue structures and what investors should know.
Veritas Finance Ltd, a non-deposit-taking non-banking financial company (NBFC), has received approval from the Securities and Exchange Board of India (SEBI) to launch its IPO.
The proposed public issue comprises a fresh issue of equity shares worth ₹900 crore and an offer for…