India’s IPO market is heating up with SEBI approving five new public offerings across sectors. Vikram Solar, Shreeji Shipping Global, Dorf-Ketal Chemicals, A-One Steels India, and Shanti Gold International have received the regulatory green light to raise capital for expansion, debt reduction, and facility upgrades.
The Securities and Exchange Board of India (SEBI) has approved initial public offering (IPO) plans for five companies across multiple sectors in India, reflecting strong investor interest and corporate growth strategies amid improving market sentiment.
The five companies—Vikram Solar (West Bengal), Shreeji Shipping Global (Gujarat), Dorf-Ketal Chemicals (Maharashtra), A-One Steels India (Telangana), and Shanti Gold International (Rajasthan)—are preparing to raise capital to expand capacity, reduce debt, and support operational growth.
Vikram Solar IPO
Kolkata-based Vikram Solar, a leading manufacturer of solar modules and renewable energy solutions, is planning an IPO consisting of a fresh issue of shares worth ₹1,500 crore and an offer for sale (OFS) of 17.45 million shares by promoters. Of the proceeds, ₹793.36 crore will go into establishing a 3,000-MW solar cell and module facility under its subsidiary VSL Green Power Pvt Ltd, while ₹602.95 crore will expand its current production capacity to 6,000 MW.
Shreeji Shipping Global IPO
Ahmedabad-headquartered Shreeji Shipping Global, which provides logistics solutions for dry bulk cargo, will offer a fresh issue of 2 crore shares. The company plans to utilize ₹289.4 crore to acquire supramax dry bulk carriers and ₹19.5 crore to reduce its existing debt burden.
Dorf-Ketal Chemicals IPO
Mumbai-based Dorf-Ketal Chemicals India, a specialty chemical manufacturer, is launching an IPO worth ₹5,000 crore. This includes a ₹1,500 crore fresh issue and ₹3,500 crore OFS by the Menon Family Holdings Trust. Proceeds will be used to repay ₹829 crore of debt, fund its subsidiary Dorf Ketal Chemicals FZE with ₹333 crore, and fulfill corporate requirements.
A-One Steels India IPO
Hyderabad-based A-One Steels India is eyeing ₹650 crore through its IPO, comprising ₹600 crore from fresh issuance and ₹50 crore via OFS by promoters. The funds will support its subsidiary Vanya Steels Pvt Ltd in acquiring equipment, upgrading facilities, and investing in group captive solar energy, along with debt repayment.
Shanti Gold IPO
Shanti Gold International, a Rajasthan-based gold jewelry manufacturer, will raise funds through a fresh issue of 1.8 crore shares. The ₹45.83 crore proceeds will fund a new facility in Jaipur, support ₹190 crore in working capital needs, repay ₹20 crore in debt, and fulfill general corporate objectives.
These IPOs highlight the increasing confidence among Indian companies in tapping capital markets, as well as the diverse industrial push across solar, logistics, chemicals, steel, and jewelry.
