The Securities and Exchange Board of India (SEBI) has approved the initial public offerings (IPOs) of six companies, including fintech major Pine Labs, auto parts maker Hero Motors, and mutual fund house Canara Robeco Asset Management. Together, these firms are expected to raise around ₹9,000 crore from the public markets.
Pine Labs plans to raise approximately ₹2,600 crore through a mix of fresh issue and offer for sale (OFS). The funds will be used for debt repayment, strengthening its tech infrastructure, and expanding its digital checkout platform. This marks a significant move for the fintech firm as it aims to broaden its merchant network and enhance customer engagement.
Hero Motors is targeting a ₹1,200 crore IPO, comprising ₹800 crore as a fresh issue and ₹400 crore through OFS. The company will use the proceeds to reduce debt, modernize operations, and expand production capacity, especially at its Gautam Buddha Nagar facility.
Canara Robeco AMC, a joint venture between Canara Bank and ORIX Corporation Europe, will launch a pure OFS of 4.98 crore shares. The company itself will not receive fresh funds, as existing promoters are offloading part of their stake.
In the renewable energy sector, Emmvee Photovoltaic Power is set to raise about ₹3,000 crore. The solar panel manufacturer plans to use the proceeds for capacity expansion, working capital needs, and debt reduction.
Manipal Technologies’ Payment & Identity Solutions unit also received approval, with its IPO expected to raise around ₹1,200 crore. The company provides secure digital identity and payment solutions to banks and government institutions.
Finally, Orkla India, parent of packaged food brands MTR and Eastern, will launch a pure OFS, allowing promoters to partially exit without issuing new shares.
This wave of IPO approvals reflects growing market confidence and a diversified pipeline of companies looking to list. Market experts expect these offerings to hit the bourses around Diwali or early 2026, depending on market conditions and investor sentiment.
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