Initial Public Offerings

Razorpay gets Sebi nod for ₹5,000-6,000 cr IPO, eyes $5 billion valuation

Fintech firm Razorpay has secured approval from markets regulator Sebi for its proposed initial public offering (IPO) of Rs 5,000-6,000 crore, sources familiar with the development said on Wednesday. The company is targeting a valuation of around USD 5 billion through the public offering, they added. The development comes after Razorpay submitted its draft IPO papers with Sebi through the confidential route in June, initiating the process to tap the public markets. Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay offers payment acceptance, banking, payouts, payroll, lending and other financial services through an integrated platform. The company serves millions of businesses across India, ranging from startups and small and medium enterprises to large corporates. Razorpay attained unicorn status in 2020 and has since expanded beyond payments into a broader financial services ecosystem for businesses. Its offerings enable merchants to manage collections, payouts, payr

Coal India unit South Eastern Coalfields files for $800 million IPO

The offering will consist entirely of shares sold by parent Coal India, with no fresh issuance, according to the draft prospectus filed with Sebi

Global beverage majors Carlsberg, Pernod, Coca-Cola advance India IPO plans

Three leading global beverage companies - Carlsberg, Pernod Ricard and The Coca-Cola Company - are advancing their plans for potential listings of their Indian businesses, albeit at different stages, as they prepare to tap the domestic capital market and join the growing pipeline of large offerings. In their latest earnings calls, top executives from the three companies outlined progress on their respective listing plans, with Carlsberg filing an updated draft red herring prospectus, Pernod Ricard continuing preparatory work pending board approval, and Coca-Cola exploring a potential IPO of its Indian bottling operations. The developments underline the growing interest among multinational beverage companies in unlocking value from their Indian operations through public listings, although the proposed offerings remain subject to varying regulatory, corporate and market-related considerations. Among them, Danish brewer Carlsberg is the furthest along, having filed an updated draft red

JPMorgan to lead US retail offering in Anthropic's potential record IPO

The company behind Claude has weighed a retail offering of about 15% to 20% of the shares available in the IPO overall

Carlsberg India files updated IPO prospectus for 86.42 million shares

This is the first public IPO ‌prospectus from Carlsberg India, which had confidentially filed papers for the planned offering in July

Five IPOs to raise nearly ₹2,600 crore as primary market stays active

Five companies, including EAAA India Alternatives, SFC Environmental Technologies, and M K Sons Fine Jewels, are set to launch their initial public offerings (IPOs) next week, seeking to raise close to Rs 2,600 crore from the primary market. BLS Polymers and Bombay Coated and Special Steels would also float their maiden public offerings during the week. Separately, several other companies, including Gujarat Victory Forging, Milestone Gears, Avaada Electro, Swara Baby Products, Integris Medtech and AGS Health, are in the pipeline for IPO, according to merchant bankers. These companies are expected to announce price band declarations and launch plans by November 5, ahead of the extended Diwali holiday period in Gujarat, where markets and business activity are likely to be affected by the post-Diwali observance of Labh Pancham from November 6 to 15, they added. The upcoming issues follow a busy month for the primary market, which saw Jio Platforms launch the country's biggest-ever pub

Anthropic may spend $750 billion on computing costs as IPO plans advance

The artificial intelligence firm had a net loss of $80.7 billion in the first half of 2026

BVG India focusing on long-term contracts with better margins: CMD

The company wants contracts that provide good returns on investment and greater visibility on revenue and margins, rather than chase growth through low-margin work

OpenAI seeks to accelerate fundraising ahead of Anthropic's planned IPO

SoftBank Group, Abu Dhabi-based MGX and other existing backers of OpenAI are in talks to join the round of about $30 billion

IPO offer document: What to read, what to skip when assessing fundamentals

Do targeted reading of the prospectus to assess an IPO on fundamentals

Zetwerk raises ₹2,251 crore from anchor investors ahead of ₹5,012-cr IPO

The company allotted 14.91 crore equity shares to 99 funds at ₹151 apiece, the upper end of the price band, according to a circular uploaded on the BSE website

Peak XV, Accel-backed Zetwerk seeks $2.6 billion valuation in India IPO

The $518 million IPO will open for ‌public subscription on October 15 and close on October 19, with the contract electronics manufacturer's shares expected to begin trading on October 23

Fusion CX fixes IPO price band at ₹275-289 per share, issue size at ₹702 cr

AI-powered customer experience solutions provider Fusion CX Ltd on Friday fixed the price band of Rs 275-289 per share for its Rs 702 crore Initial Public Offering (IPO), which will open for subscription on October 14. At the upper end of the price band, Fusion CX is expected to command a post-issue market capitalisation of over Rs 4,170 crore. The three-day public issue will close on October 16, while bidding by anchor investors is scheduled for October 13, according to a public announcement. The IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an Offer For Sale (OFS) of shares aggregating up to Rs 202 crore by existing shareholders, P N S Business Pvt Ltd and Rasish Consultants Pvt Ltd. The company had initially planned to raise up to Rs 1,000 crore through its IPO, according to its draft red herring prospectus filed with Sebi in May 2025. However, the proposed issue size has since been reduced to Rs 702 crore. Fusion CX proposes to utilise Rs 275 crore

FirstCry-backed Swara Baby Products gets Sebi nod for ₹1,000 crore IPO

Swara Baby Products, a contract manufacturer of baby diapers, adult diapers and feminine hygiene products backed by FirstCry, received Sebi's approval on Tuesday to proceed with its proposed Rs 1,000 crore Initial Public Offering (IPO), an update with the regulator showed. The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 500 crore and an offer for sale (OFS) valued at Rs 500 crore by promoters, according to the draft red herring prospectus (DRHP). The OFS includes the sale of shares worth up to Rs 300 crore by Brainbees Solutions Ltd and up to Rs 200 crore by Anadya Bon Merchari LLP. The company filed its preliminary IPO papers on July 2 with the Securities and Exchange Board of India (Sebi) and obtained the regulator's final observation on October 6. The Sebi observations mark an important step in the IPO process, allowing companies to proceed with preparations for their public issues, subject to applicable regulatory requirements. As per the draft .

SME IPOs sink, while mainboard listings deliver stronger returns

Of 151 SME IPOs listed this year, 70 trade below their issue price and 21 have lost at least half their value, while mainboard issues have delivered stronger returns

Anarock Property Consultants files DRHP to raise ₹1,000 cr via IPO

The issue comprises a fresh issue of up to Rs 550 crore and a Rs 450 crore OFS, with proceeds earmarked for AI, talent expansion and acquisitions

Wadhwa Group starts IPO process via confidential filing with Sebi

The Mumbai-based developer has prefiled its DRHP with Sebi as it moves towards a potential listing amid record capital inflows into Indian real estate

Inox Clean Energy plans ₹10,000 crore IPO, files papers with Sebi

The proposed issue comprises a fresh issue of up to ₹8,000 crore and an offer for sale of up to ₹2,000 crore by the selling shareholder

Record quarter primes India IPO market for another blockbuster year

Listing proceeds surpassed $9 billion in July-September, the most ever for the period, according to data compiled by Bloomberg

Renewable energy firm Inox Clean Energy files for ₹10,000 crore IPO

The company will ​use about ₹6,000 crore of the proceeds to repay debt