SEBI Approves IPOs Of Fusion CX, Orient Cables, Five Others

The Securities and Exchange Board of India has approved the initial public offering proposals of seven companies, including Fusion CX Ltd. and Orient Cables India Ltd. The regulator issued its 'observation letters' to the IPOs, which means final approval.

RSB Retail India Ltd., SFC Environmental Technologies Ltd., Turtlemint Fintech Solutions Ltd., and Yashoda Healthcare Services Ltd. are the other companies receiving the nod.

The companies will now issue their red herring prospectus for the IPO. Details regarding IPO period, price band, allotment and listing dates, etc, will be announced via a public advertisement.

Orient Cables filed its preliminary papers in July to raise Rs 700 crore via an initial public offering. The public offer will include mix of fresh issues of shares worth Rs 320 crore and an offer-for-sale of up to Rs 380 crore.

Through the OFS, Orient Cables' promoters Vipul Nagpal, Garima Nagpal, Vipul Family Trust and Garima Family Trust will be offloading stake.

New Delhi-based Orient Cables is a manufacturing company with a primary focus on networking cables and passive networking equipment, catering to high-growth industries, including broadband, telecom, data centres, renewable energy and smart building automation.

Proceeds from the fresh issue worth Rs 91.50 crore will be used to fund capital expenditure for the purchase of machinery, equipment, and civil works at the company's manufacturing facilities. In addition, Rs 155.5 crore will be used for repayment or partial prepayment of certain outstanding borrowings and a portion will also be allocated for general corporate purposes.

Fusion CX Ltd. plans to raise up to Rs 1,000 crore via an IPO. The public offer will include a fresh issues of shares worth Rs 600 crore, and an offer-for-sale component aggregating to Rs 400 crore.

PNS Business Pvt. and Rasish Consultants Pvt. are the promoter selling shareholders, who are offloading stake worth up to Rs 200 crore each.

Fusion CX is a customer experience service provider delivering integrated CX services across multiple channels including voice, email, chat, and more. Fusion CX blends domain expertise with a portfolio of proprietary AI tools to enable multilingual and omnichannel engagement at scale.

Proceeds from the fresh issue will be utilised for the repayment of borrowings, investment in the subsidiaries for upgrading IT tools, and for general corporate purposes.

The Lohia Corp. IPO is entirely an offer-for-sale of 4.23 crore shares by promoters and other shareholders.

The Kanpur-based company is the manufacturer of machinery and equipment used in the production of technical textiles, in particular for manufacturing polypropylene and high-density polyethylene woven fabric and sacks.

As of March 31, 2025, it has an installed capacity of 240 tapelines, 13,800 circular looms, and 108,000 tape winders annually.