SEBI Clears IPO Plans Of Casagrand, Bonfiglioli, and Two Other Companies

Four companies have received approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings (IPOs), paving the way for fresh fundraising activity in the primary market.

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According to SEBI updates issued between June 8 and June 12, Casagrand Premier Builder, Bonfiglioli Transmissions, Bombay Coated & Special Steels, and Swaraj Green Power and Fuel have secured regulatory observations for their proposed public issues. In SEBI’s process, the issuance of observations indicates clearance to proceed with an IPO.

Casagrand Plans ₹1,220-Crore Public Issue

Chennai-based real estate developer Casagrand Premier Builder has proposed an IPO comprising a fresh issue of ₹1,200 crore and an offer for sale (OFS) worth ₹20 crore by promoter entities Casagrand Luxor Pvt Ltd.

The company may also undertake a pre-IPO placement of up to ₹240 crore. If such fundraising is completed before the public issue, the size of the fresh issue will be adjusted accordingly.

Funds raised through the fresh issue are proposed to be used for repayment of borrowings of the company and its subsidiaries, along with general corporate purposes.

Established in 2003, Casagrand operates in the residential real estate segment and has a significant presence in Chennai and other South Indian markets.

Bonfiglioli IPO To Be Entirely OFS

Bonfiglioli Transmissions, the Indian arm of Italy-based Bonfiglioli Group, will launch an IPO consisting solely of an offer for sale of 4.7 crore equity shares by its promoter, Bonfiglioli S.p.A.

As per the draft offer documents, the issue does not include any fresh equity issuance, meaning the company will not receive proceeds from the public offering.

Reports indicate that the issue size could exceed ₹2,000 crore. The company operates in the power transmission, drive systems, and gearmotor segments and serves industrial customers across multiple sectors.
Bombay Coated, Swaraj Green Power, Also Receive Approval

Bombay Coated & Special Steels, which processes steel coils into value-added steel products, plans to raise ₹191 crore through a fresh issue of shares.

The company intends to utilise the proceeds for debt reduction, acquisition-related obligations linked to existing lease arrangements with Siemens Financial Services, and general corporate requirements.

Meanwhile, Maharashtra-based Swaraj Green Power and Fuel has also secured approval for its IPO. The company operates an integrated facility engaged in sugar manufacturing, ethanol production, extra neutral alcohol (ENA), rectified spirit, and cogeneration power.

The latest approvals are part of a growing pipeline of companies looking to tap capital markets, a sign of ongoing fundraising activity across sectors from real estate and manufacturing to industrial technology and renewable fuel-linked businesses.