SEBI Greenlights Seven IPOs Worth Rs 7,700 Crore, Including Meesho and Shiprocket
SEBI has approved IPOs for seven companies, collectively valued at approximately Rs 7,700 crore. The approved companies include Meesho, Shiprocket, German Green Steel and Power, Allied Engineering Works, Skyways Air Services, Rajputana Stainless, and Manika Plastech. Meesho's IPO includes a fresh issue of up to Rs 4,250 crore and an offer for sale of 17.57 crore equity shares. Shiprocket's IPO is expected to be worth Rs 2,000-2,500 crore. All seven companies filed their preliminary IPO papers between May and July, receiving regulatory observations between October 14-31.
*this image is generated using AI for illustrative purposes only.
The Securities and Exchange Board of India (SEBI) has given its nod to seven companies for their Initial Public Offerings (IPOs), collectively valued at approximately Rs 7,700 crore. This approval marks a significant milestone for these companies in their journey towards public listing.
Companies Receiving Approval
The following companies have received SEBI's approval for their IPOs:
- Meesho (Softbank-backed e-commerce firm)
- Shiprocket (Temasek-backed logistics company)
- German Green Steel and Power
- Allied Engineering Works
- Skyways Air Services
- Rajputana Stainless
- Manika Plastech
Timeline and Details
- Filing Period: All seven companies filed their preliminary IPO papers between May and July.
- Approval Period: Regulatory observations were received between October 14-31.
Spotlight on Key Players
Meesho
- IPO Structure:
- Fresh issue of up to Rs 4,250 crore
- Offer for sale of 17.57 crore equity shares by existing shareholders
- Notable Shareholders: Elevation, Peak XV, Venture Highway, and Y Combinator
Shiprocket
- Expected IPO Size: Rs 2,000-2,500 crore
Market Context
This wave of approvals comes amid a bustling period in the Indian primary market.
Other Market Movements
- Bombay Coated and Special Steels withdrew its draft IPO documents.
- SEBI returned Vishal Nirmiti's preliminary papers on October 30.
Expert Insight
"The approval of these seven IPOs, including high-profile companies like Meesho and Shiprocket, signals continued investor interest in the Indian market," says Shraddha Joshi, a capital markets expert. "This diverse range of companies across sectors reflects the depth and breadth of India's growing economy. However, investors should carefully assess each company's financials and growth prospects before making investment decisions."
As these companies prepare to enter the public market, they will likely attract significant attention from both institutional and retail investors. The success of these IPOs could further bolster India's position as an attractive destination for capital and potentially encourage more companies to consider going public.
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