IPO rush continues: 9 companies file draft papers with Sebi

Reports coming in for today mention that Nine firms, including Trans ACNR Solutions and Maharashtra Oil Extractions, have filed preliminary papers with markets regulator Sebi to launch initial public offerings, adding to the growing pipeline of firms looking to tap the primary market.

The firms filed their draft papers between September 21 and 26, with the proposed IPOs aimed at raising funds for business expansion, working capital, debt repayment and other corporate purposes.

Trans ACNR Solutions has used Sebi's confidential pre-filing route, under which firms can submit draft offer documents to the regulator and bourses without immediately making them public. Details such as the proposed offering size, structure, valuation and IPO timeline will be disclosed at a later stage following regulatory review.

The firm has stated it has submitted a pre-filed draft red herring prospectus with Sebi and the bourses for its proposed mainboard IPO.

Among the firms that have made their IPO plans public, Maharashtra Oil Extractions has proposed a fresh offering of up to Rs 370 crore along with an offer for sale of up to 2.14 crore equity shares by its promoters. The firm operates across the soybean value chain, producing edible oils, plant-based protein products, soya meal, flour and speciality chemicals.

Jagatjit Agri Engineering has proposed a fresh offering of up to Rs 300 crore and an offer for sale of up to 31 lakh shares by promoter Jagatjit Singh. The Ludhiana-based firm manufactures agricultural equipment and provides crop solutions.

Jai Parvati Forge has additionally proposed to mobilize up to Rs 300 crore through a fresh offering, along with an OFS of up to 90 lakh shares by promoter Suman Chauhan. The Punjab-based firm manufactures forged and machined components such as gears, shafts and precision-machined parts.

Koolking Industries India has proposed a fresh offering of up to Rs 300 crore and an OFS of up to 30.50 lakh shares by promoters. The firm manufactures and supplies heating, ventilation and air-conditioning components.

SG Encon's proposed IPO comprises a fresh offering of up to 71.90 lakh shares and an OFS of up to 13.71 lakh shares by promoters Rajiv Gandhi and Pankaj Setia, taking the total offer size to up to 85.62 lakh shares.

Mount Everest Breweries has proposed a fresh offering of up to 1.15 crore equity shares. The Madhya Pradesh-based beer manufacturer, incorporated in 1999, operates across 16 states and three Union Territories.

Sai Infinium, formerly Sai Bandhan Infinium, has proposed a fresh offering of up to Rs 280 crore and an OFS of up to 1.20 crore shares by promoter Ishu Bansal.

Ultravibrant Integrated Energy, formerly Ultravaibrant Solar Energy, has proposed a fresh offering of up to 1.20 crore shares and an OFS of up to 25 lakh shares by promoter Rajeshwar Singh.

The latest filings come amid sustained activity in India's primary market. Eleven other firms, including JSW One Platforms and biscuit maker Anmol Industries, additionally filed draft IPO papers with Sebi of late.