Six Companies File Draft Papers with SEBI, Lining Up for Upcoming IPOs

India’s primary markets are set for a busy phase as six companies across diverse industries have filed draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (SEBI). From power infrastructure and cables to hospitality, metals, and textiles, these IPOs reflect strong fundraising ambitions amid healthy investor appetite.

Sterlite Electric IPO

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Vedanta Group’s Sterlite Electric has submitted draft papers with SEBI to launch its initial public offering. The issue will feature a fresh equity issue of 77.9 lakh shares along with an offer for sale (OFS) of the same size. The proceeds will be used to reduce debt, support capital expenditure—including investments in new plants and machinery—and fund general corporate needs. Operating in the power transmission and distribution sector, Sterlite Electric serves both Indian and overseas markets.

Rays Power Infra IPO

Mumbai-based Rays Power Infra is targeting ₹1,150 crore through its IPO. The issue will include a fresh equity component of ₹900 crore and an OFS of ₹250 crore. The company plans to channel a large portion of the proceeds into Rays Green Energy, its subsidiary, to establish a 1.5 GW solar cell manufacturing facility in Madhya Pradesh. Remaining funds will be used for working capital and corporate purposes.

Augmont Enterprises IPO

Gold and silver trading platform Augmont Enterprises aims to raise ₹800 crore through its public issue. This includes a fresh issue of ₹620 crore and an OFS of ₹180 crore. The raised capital will be directed toward working capital, inventory procurement, margin funding, and other corporate requirements.

Rotomag Enertec IPO

Rotomag Enertec, based in Gujarat and known for manufacturing energy-efficient electric motors and alternators, has proposed a ₹500 crore IPO. The plan includes a fresh issue and an OFS of 2.4 crore shares from existing stakeholders. The company may also pursue a pre-IPO placement of ₹100 crore. Proceeds will go toward redeeming non-convertible debentures, working capital, and other business needs.

Oswal Cables IPO

Oswal Cables has filed for an IPO involving a fresh issue of ₹300 crore along with an OFS of 2.22 crore shares. Funds raised will be utilised for setting up a new project, debt repayment, and general corporate expenses. The company is engaged in the production of cables and related infrastructure products.

Pride Hotels IPO

Pride Hotels, headquartered in New Delhi, plans to raise funds through a ₹260 crore fresh issue and an OFS of 3.92 crore shares. The capital will be allocated for hotel renovations, repayment of borrowings, and corporate requirements. The firm is also considering a pre-IPO placement worth up to ₹52 crore.

Infra.Market IPO

In a major move, Bengaluru-based Infra.Market has confidentially filed a DRHP with SEBI to raise ₹5,000 crore through its IPO. The issue is expected to be a mix of fresh equity and OFS. Infra. Market recently secured $83 million in a Series G funding round led by Silverline Homes, along with $150 million in debt financing earlier this year. For FY24, the company reported a 23% revenue increase to ₹14,530 crore and a net profit jump of 2.4 times to ₹378 crore.

Fascinate Textiles IPO

Fascinate Textiles Limited has also filed draft papers for an IPO of up to 42.94 lakh shares, comprising a fresh issue of 34.58 lakh shares and an OFS of 8.36 lakh shares by a promoter group member. The shares will be listed on the NSE Emerge platform. The company, established in 2017, manufactures readymade garments across menswear, womenswear, and kidswear, with a major focus on children’s apparel.

Financially, Fascinate Textiles delivered a strong FY25 performance. Revenue doubled to ₹6,027.68 lakh from ₹2,889.59 lakh in FY24, while profit after tax rose sharply to ₹581.11 lakh from ₹47.78 lakh. EBITDA surged nearly sixfold to ₹1,001.13 lakh, signalling improved operational efficiency. IPO proceeds will be used for a new production facility, working capital, and partial debt repayment.

Conclusion

The upcoming IPO pipeline highlights strong activity across traditional and new-age sectors, from metals and energy to textiles and hospitality. While market conditions remain dynamic, these companies’ fundraising efforts reflect a robust outlook for capital markets and continued investor interest in India’s growth story.