Tag: IPO

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Tablesh Pandey to lead NSE IPO committee plan

The National Stock Exchange of India (NSE) has taken a major step toward going public, as its board approved plans for an initial public offering (IPO) and formed a special IPO committee to oversee the process.

The IPO will be conducted via an offer-for-sale (OFS) route, in which existing shareholders sell their stake rather than the exchange issuing new shares. This approach helps determine NSE’s market valuation while retaining its overall ownership structure.

Former LIC Managing Director Tablesh Pandey has been appointed chairman of the IPO committee, bringing decades of experience in financial management, corporate governance, and regulatory compliance. Pandey is widely respected for his leadership at LIC, India’s largest insurance company, where he successfully steered growth, improved operational efficiency, and strengthened investor trust.

The IPO committee will include NSE’s Managing Director & CEO and public interest directors, ensuring strategic oversight of key steps such as finalizing the issue size, appointing merchant bankers, and preparing the Draft Red Herring Prospectus (DRHP).

A significant milestone for the exchange was the no-objection certificate (NOC) from SEBI, which clears a major regulatory hurdle for the listing. NSE aims to file the DRHP by end of March or early April, subject to audited financial statements and regulatory approvals.

The IPO is expected to unlock shareholder value and increase participation in India’s premier stock exchange. Analysts believe that with Pandey leading the committee, the process will benefit from strong governance, credibility, and smooth execution.

Pandey’s appointment is seen as a signal of the NSE’s commitment to transparency and regulatory compliance, given his proven track record in managing large public-sector financial institutions. Experts expect the IPO to be closely watched by both retail and institutional investors in India.

With the IPO committee now in place under Pandey’s guidance, NSE is on track to achieve a long-awaited listing, marking a major development in India’s capital markets.

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Turtlemint files ₹2,000 Cr IPO, eyeing April listing

Turtlemint Fintech Solutions, an insurtech platform founded in 2015, has filed an updated draft prospectus with SEBI for a proposed ₹2,000 crore IPO, targeting a listing by April.

The public offering will include both new shares and an offer-for-sale by existing investors. The company plans to use the proceeds to strengthen technology, expand infrastructure, and support business growth.

Early investors, including Nexus Venture Partners and Peak XV Partners, are expected to sell part of their holdings in the listing.

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Corporate

Shadowfax IPO allotment done, 2.7x subscribed

Shadowfax Technologies Ltd has completed the allotment for its IPO, which attracted strong investor interest. The company’s public offering, valued at ₹1,907 crore, saw an overall subscription of 2.7 times, driven mainly by Qualified Institutional Buyers (QIBs), alongside notable retail participation. The IPO was open for bidding from January 20 to 22, 2026, and allotment was finalised on January 23.

Investors can check their allotment status through the registrar KFin Technologies or via the BSE and NSE websites. Those who did not receive an allocation will have their applications refunded in the coming days.

Shadowfax shares are scheduled to list on the Bombay Stock Exchange and National Stock Exchange on January 28, 2026. Grey market trends—a popular, though unofficial, indicator—suggest that shares could debut at or slightly below the issue price, reflecting cautious sentiment among investors.

The IPO price band was set at ₹118–₹124 per share, with retail investors required to buy a minimum lot of around ₹14,000. The company intends to use the funds to expand its logistics network, strengthen technology infrastructure, and support growth initiatives in its delivery business.

With the allotment completed and refunds underway for non-allocated applications, attention now turns to January 28, when trading begins. The subscription pattern highlighted strong institutional demand, with QIBs oversubscribing their portion, while the retail segment also showed solid participation.

Analysts note that the initial listing performance will be closely watched, as it will indicate investor confidence in Shadowfax’s expansion plans and operational model.

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Shadowfax launches ₹1,907 cr IPO, mixed market response on Day 1

Shadowfax Technologies launched its ₹1,907 crore IPO on January 20, priced between ₹118–₹124 per share. The issue combines new shares and an offer for sale by existing investors and will remain open until January 22.

Early data shows moderate overall subscription, with retail investors showing the strongest interest. The grey market indicates potential listing gains of 5–6%, though analysts warn valuations are on the higher side compared to industry peers.

Investors are advised to consider the company’s growth prospects before applying.

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Corporate

BCCL ₹1,071 cr IPO sees strong demand

Bharat Coking Coal Ltd (BCCL), a subsidiary of Coal India Ltd, launched its initial public offering (IPO) on January 9, 2026, priced at ₹21–23 per share. The IPO, entirely structured as an offer-for-sale (OFS), aims to raise approximately ₹1,071 crore from investors. It marks one of the first major public offers of 2026 and has attracted considerable attention from retail, institutional, and non-institutional investors.

The subscription process is open until January 13, with allotment expected on January 14. Shares are likely to debut on the BSE and NSE on January 16. Early indications suggest strong demand across all investor categories, reflecting confidence in BCCL’s market position and backing from its parent company, Coal India.

The grey market premium (GMP) for the BCCL IPO is signaling potential listing gains of 40–50%, a robust figure that has further piqued investor interest. Analysts note that BCCL, being a government-backed coal producer with a strong operational track record, presents a relatively low-risk investment option with good growth prospects.

BCCL operates in the coking coal segment, supplying a critical raw material for steel production. The company’s parentage under Coal India Ltd provides additional credibility, attracting both retail and institutional investors looking for stable government-linked opportunities. Market experts believe that the strong grey market activity combined with oversubscription trends indicates a healthy appetite for government-linked IPOs in the current market scenario.

The public offer is also expected to enhance BCCL’s visibility among investors and strengthen its financial profile. Analysts recommend subscribing to the IPO, citing both its strategic importance in India’s coal sector and the potential upside at listing.

 The BCCL IPO is being seen not just as a financial opportunity but also as a barometer of investor sentiment toward government-backed enterprises in the early part of 2026.

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Corporate

Bharat Coking Coal IPO price set at ₹21–₹23

Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited, has fixed the price band for its initial public offering (IPO) at ₹21 to ₹23 per share. The company plans to raise about ₹1,071 crore through this issue, which will be entirely an offer-for-sale (OFS). This means Coal India will sell part of its stake, while BCCL itself will not receive any fresh funds from the IPO.

The IPO will open for public subscription on January 9 and close on January 13. Anchor investors will be able to bid a day earlier, on January 8. Shares are expected to be listed on the BSE and NSE on January 16, subject to final approvals.

The issue consists of up to 46.57 crore equity shares with a face value of ₹10 each. Retail investors can apply for a minimum of one lot of 600 shares. At the lower end of the price band, the minimum investment works out to about ₹12,600, while at the upper end it is around ₹13,800. Eligible employees will get a discount of ₹1 per share.

As per market rules, up to 50% of the issue is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors such as high-net-worth individuals. Separate reservations have also been made for eligible employees and existing Coal India shareholders.

Market interest in the IPO appears strong. In the grey market, BCCL shares are reportedly trading at a premium of around ₹16 per share, suggesting expectations of a healthy listing gain. However, investors are advised to note that grey market premiums are unofficial and can change quickly.

Bharat Coking Coal is one of India’s key producers of coking coal, which is mainly used in steel making. The company operates largely in Jharkhand and West Bengal, including the Jharia coalfields. Its listing is part of the government’s broader plan to unlock value from public sector subsidiaries and improve transparency through market participation.

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Corporate

SEBI clears 8 IPOs, Indira IVF among them

The Securities and Exchange Board of India (SEBI) has approved initial public offering (IPO) plans of eight companies, signalling steady activity in the primary market. The companies that received the regulator’s clearance include Indira IVF, Rays of Belief, RKCPL Ltd, Chartered Speed, Glass Wall Systems (India), Shriram Food Industry, Tempsens Instruments (India), and Jerai Fitness.

SEBI’s approval, referred to as regulatory “observations”, allows these companies to move ahead with their IPO process. They can now update their offer documents, finalise issue details, and plan market launches, depending on investor demand and market conditions.

Among the approved firms, Indira IVF stands out as a well-known fertility care provider with clinics across several Indian cities. The company had earlier withdrawn its IPO papers and later refiled them using the confidential route, which keeps draft documents private until SEBI grants its observations. Rays of Belief, which works in child development and therapy services, also used the confidential filing route and has now received approval.

The remaining companies filed their IPO applications through the regular process. RKCPL Ltd operates in the infrastructure and civil construction space, while Chartered Speed provides passenger transport and mobility services. Glass Wall Systems (India) is engaged in façade and building solutions, supplying products for commercial and residential projects.

Shriram Food Industry is involved in food processing and exports, and Tempsens Instruments (India) manufactures thermal engineering products and specialised cables used in industrial applications. Jerai Fitness, another company on the list, is known for making gym and fitness equipment for both commercial and home use.

The approvals were issued between late December and early January. Once SEBI observations are received, companies usually have a limited period to launch their IPOs, subject to market conditions.

Market participants see these approvals as a positive sign for India’s IPO pipeline. The presence of companies from diverse sectors such as healthcare, infrastructure, manufacturing, fitness, and food processing reflects broad interest in raising funds from public investors. Investors are now expected to closely watch the final offer details and timelines of these upcoming IPOs.

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Gujarat Kidney IPO lists at 6% premium

Shares of Gujarat Kidney and Super Speciality Ltd made a steady debut on the stock exchanges, listing at a 6 per cent premium over the IPO price. The stock opened at around ₹120–121, compared to the issue price of ₹114, indicating healthy investor appetite.

The IPO received strong overall subscription, led by retail investors, reflecting confidence in the company’s healthcare-focused business model. Funds raised through the public issue will be used for expansion, hospital acquisitions, and purchase of medical equipment. The positive listing highlights continued interest in healthcare stocks despite mixed market conditions.

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Corporate

Coal India plans IPOs for two subsidiaries

Coal India Ltd (CIL), India’s state-owned coal producer, is set to list two of its major subsidiaries , Mahanadi Coalfields Limited (MCL) and South Eastern Coalfields Limited (SECL), on stock exchanges, aiming to broaden the pipeline of public sector unit (PSU) initial public offerings (IPOs). The board has given in-principle approval, with final clearance pending regulatory and government approvals.

The move follows growing market interest in PSU IPOs, particularly after the buzz surrounding Bharat Coking Coal Ltd (BCCL), which is preparing for an IPO of around ₹1,300 crore. Analysts see Coal India’s plan as part of a broader government push to deepen capital markets, increase transparency, and unlock the intrinsic value of public enterprises.

Both MCL and SECL are among Coal India’s most productive subsidiaries. MCL, based in Odisha, is a significant contributor to national coal output, while SECL, headquartered in Chhattisgarh, operates extensive mining projects across central India. Both subsidiaries have delivered strong revenues and profits, making them attractive for public investment.

The board approval was passed via a circular resolution and will now be submitted to the Ministry of Coal and the Department of Investment and Public Asset Management (DIPAM) for final approvals. Market reaction has been positive, with Coal India shares rising in trading after the announcement.

Experts believe listing these subsidiaries could enhance shareholder returns by providing clearer valuations for the high-performing units. The move is also expected to energize the primary market for 2026, offering investors more opportunities to participate in government-linked offerings.

This development signals a strategic push by Coal India and the government to leverage market mechanisms for growth, while also giving investors a chance to own stakes in profitable PSU companies. As BCCL’s IPO proceeds, MCL and SECL listings could follow, reinforcing investor confidence in public sector offerings.

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Corporate

Meesho tops India’s 2025 IPO charts with 95% rally

Meesho has delivered one of the most remarkable stock market debuts India has seen this year, quickly emerging as the best-performing large IPO of 2025. Since listing earlier this month, the Bengaluru-based e-commerce company’s shares have surged nearly 95%, reflecting strong investor confidence in its growth story.

Priced at ₹105–₹111 per share, Meesho’s public issue raised around ₹5,400 crore and attracted robust demand across investor categories. The enthusiasm has carried over into the secondary market, with the stock witnessing sustained buying interest in the days following its listing on 10 December.

The sharp rally has translated into significant wealth creation. Meesho’s market capitalisation has climbed close to ₹98,000 crore, adding an estimated ₹47,000 crore in investor value within weeks of listing. This performance places it well ahead of other major IPOs this year, including Groww and LG Electronics India, which have posted comparatively modest gains.

Beyond the numbers, the IPO has also marked a personal milestone for the company’s leadership. Co-founder and chief executive Vidit Aatrey has entered the billionaire ranks, as the value of his stake crossed the $1-billion mark following the surge in the share price. The moment underscores how Meesho’s journey from a startup to a publicly listed company has resonated strongly with the market.

Analysts attribute the stock’s strong run to Meesho’s asset-light marketplace model, expanding user base and growing appeal among value-conscious consumers across India’s smaller cities and towns. Brokerages have highlighted improving margins and scalable operations as key factors supporting long-term growth.

At the same time, market watchers caution that the stock may see bouts of volatility in the near term. A relatively limited free float, due to lock-in restrictions on promoter and early investor holdings, could amplify price movements until more shares become available for trading in 2026.

Even so, Meesho’s post-listing performance has become a bright spot for India’s capital markets, reinforcing investor optimism around digital-first consumer businesses and setting a positive tone for the country’s IPO landscape.

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