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Upcoming IPOs: The Securities and Exchange Board of India (SEBI) has cleared six companies to launch initial public offerings (IPOs), signalling a busy primary market pipeline for the coming months.According to the regulator’s latest update, Hero Motors, Canara Robeco Asset Management Company, Emmvee Photovoltaic Power, Pine Labs, Manipal Payment and Identity Solutions and Orkla India have all received “observations” — the formal approval needed to proceed with a public offer. The clearances cover draft papers filed between April and July, with SEBI issuing its observations between 2 and 12 September.Canara Robeco AMC will offer 4.98 crore shares entirely through an offer for sale (OFS) by its promoters. Canara Bank will sell 2.59 crore shares, while ORIX Corporation Europe NV will offload 2.39 crore shares. The asset manager itself will not receive any proceeds from the offering.

Add Zee Business as a Preferred SourceAuto-component manufacturer Hero Motors plans a Rs 1,200-crore IPO, comprising a Rs 800-crore fresh issue and a Rs 400-crore OFS. Proceeds from the fresh issue will be used to repay Rs 285 crore of debt, invest Rs 237 crore in equipment at its Gautam Buddha Nagar plant, fund acquisitions and meet general corporate needs. In the OFS, OP Munjal Holdings will sell shares worth about Rs 390 crore, while Bhagyoday Investments and Hero Cycles will divest Rs 5 crore each.Solar equipment maker Emmvee Photovoltaic Power is lining up a Rs 3,000-crore IPO, including a Rs 2,143.86-crore fresh issue and an Rs 856.14-crore OFS. About Rs 1,607.90 crore of the fresh proceeds is earmarked for repaying or prepaying loans and interest at both the company and its key subsidiary, with the remainder allocated to general corporate purposes.Fintech firm Pine Labs, backed by Temasek and Peak XV Partners, plans a Rs 2,600-crore fresh equity issue alongside an OFS of more than 14.78 crore shares from existing investors including Peak XV Partners, Actis, PayPal, Mastercard Asia/Pacific, Temasek (via Macritchie Investments), Invesco, Madison India Capital, MW XO Digital Finance Fund Holdco, Lone Cascade LP and co-founder Lokvir Kapoor. Of the fresh proceeds, Rs 870 crore is set aside for debt repayment and Rs 760 crore for IT assets, cloud infrastructure, technology development and the acquisition of digital checkout points.Manipal Payment and Identity Solutions has filed draft documents with SEBI under confidentiality, with sources indicating a target raise of about Rs 1,200 crore.Orkla India, the parent of MTR Foods and Eastern, will take a completely offer-for-sale route, selling 2.28 crore equity shares held by promoters and other shareholders.

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Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.