Upcoming IPOs: SEBI Clears IPO Plans for Gujarat Kidney, EPack Prefab and Anand Rathi

The Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) proposals of three diverse companies: Gujarat Kidney and Super Speciality Hospital, Epack Prefab Technologies, and Anand Rathi Share & Stock Brokers. All three firms received observation letters from SEBI—effectively clearing the path for their upcoming IPOs in the coming months.

These IPOs span key sectors including healthcare, infrastructure, and financial services, underscoring the current momentum in India’s capital markets, especially among companies aiming to strengthen their balance sheets and expand operations.

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Anand Rathi Share & Stock Brokers

A part of the Anand Rathi Group, this full-service brokerage firm has received approval for a ₹745 crore IPO, entirely comprising a fresh issue. The face value of the equity shares is ₹5 each.

The company operates across equity broking, derivatives, distribution of financial products, and advisory services, catering to retail and HNI clients. This will be Anand Rathi’s second attempt at a listing after its previous group company, Anand Rathi Wealth, successfully went public in December 2021.

Gujarat Kidney and Super Speciality Hospital

This Gujarat-based healthcare provider has received SEBI’s nod to raise capital through a pure fresh issue of up to 2.2 crore equity shares. With a face value of ₹2 per share, the issue size will be determined closer to launch, based on pricing.

The hospital group currently operates six multi-speciality facilities and three in-house pharmacies as of March 2025. The proceeds from the IPO will be used to expand medical infrastructure, invest in equipment, and potentially enter new Tier II and Tier III geographies. The issue is being managed by Fedex Securities.

Epack Prefab Technologies

Epack Prefab, headquartered in Greater Noida, offers a combination of pre-engineered building (PEB) solutions and EPS packaging products, catering to industrial, commercial, and logistics infrastructure.

Its IPO comprises a fresh issue of ₹300 crore and an offer-for-sale (OFS) of up to 1 crore equity shares by existing shareholders. With a growing footprint in India's construction and warehousing ecosystem, Epack’s listing is expected to attract institutional interest, particularly from infrastructure and industrial-focused investors. The issue is being managed by Axis Capital and DAM Capital Advisors.

Outlook

These approvals come at a time when IPO activity in India is gaining renewed momentum, following a relatively cautious first half of FY26. Market participants are now awaiting RHP filings and expected launch dates, with all three companies expected to proceed once market conditions are deemed favourable.

More broadly, SEBI’s swift clearances reflect the regulatory body’s intent to support capital formation, while maintaining scrutiny over corporate disclosures and governance standards.