Upcoming IPOs: SEBI Issues Nod For Public Issues Of ARCIL, Shadowfax Tech, Aggcon Equipments, Four Others

Asset Reconstruction Company (India) Ltd., Shadowfax Technologies Ltd. and Aggcon Equipments International Ltd. are among seven companies to have received the go-ahead from Securities and Exchange Board of India on Monday for their initial public offerings.

The other IPOs that received the market regulator's green light include Safex Chemicals Ltd., Rayzon Solar Ltd., Sudeep Pharma Ltd. and PNGS Reva Diamond Jewellery Ltd.

The market regulator issued its so-called 'observation letter' to these companies, which in SEBI parlance means an approval, on Monday.

Asset Reconstruction Company (India) Ltd.'s public offer will only include an offer-for-sale of up to 10.55 crore shares by shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company specialises in the acquisition and resolution of stressed financial assets. Its core business involves acquiring non-performing assets from banks and financial institutions and implementing effective resolution strategies through restructuring, enforcement of rights over underlying securities, and settlements.

It operates across verticals like Corporate Loans, SME and other loans and retail loans.

Shadowfex Technologies Ltd.'s in July had filed confidential draft red herring prospectus with SEBI for an initial public offering in the range of Rs 2,000 and Rs 2,500 crore, according to media reports. The IPO will consist of a mix of fresh issue and offer for sale.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The logistics solution provider company offers e-commerce express parcel delivery, and a suite of value-added offerings.

Its service offerings include e-commerce and D2C delivery, hyperlocal & quick commerce within hours or same day, and SMS and personal courier services through Shadowfax's Flash app.

Aggcon Equipments IPO will include mix of fresh issues of shares worth Rs 332.04 crore and an offer-for-sale up to 94 lakh shares by promoter selling shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The infrastructure equipment rental company provides rental services for all major equipments, including renting earthmoving equipments, road construction, material handling, foundation, concrete, and aerial work platforms.

Safex Chemicals IPO will include mix of fresh issues of shares worth Rs 450 crore and an offer-for-sale up to 3.57 crore shares by selling shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The speciality chemicals company is focused on agrochemicals and is active across the agrochemical value chain. The company operates in branded formulation, specialty chemicals, and CDMO, serving farmers and global agrochemical verticals.

Rayzon Solar IPO will only include fresh issues of shares worth Rs 1,500 crore. The solar panel manufacturer specialises in monocrystalline and polycrystalline solar modules used across residential, commercial, and industrial solar projects.

The company manufactures the solar PV modules at their two manufacturing facilities located in Karanj and Sava in Surat, Gujarat, India, each with an existing solar PV module manufacturing installed capacity of 3.00 GW.

Sudeep Pharma IPO will include mix of fresh issues of shares worth Rs 95 crore and an offer-for-sale up to 1.01 crore shares by promoter selling shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company is a manufacturer of pharmaceutical excipients, food-grade minerals, and specialty nutrition ingredients serving over 100 countries.

PNGS Reva Diamond Jewellery IPO will only include fresh issues of shares worth Rs 450 crore. The company is a part of P N Gadgil & Sons and is involved in the business of sale of a wide range of jewellery made using diamond and precious and semi-precious stones which are studded into precious metals such as gold and platinum.