Shahrukh Family Trust backed Sri Lotus Developers to raise Rs 792 crore
Mumbai: After a lull of two months, the IPO market is seen reviving with seven companies getting the capital market regulator’s nod to list. The Securities and Exchange Board of India (Sebi) has approved initial public offering (IPO) of seven companies, namely Credila Financial Services, Caliber Mining and Logistics, Sri Lotus Developers and Realty, Jesons Industries, Gem Aromatics, Euro Pratik Sales, and Jaro Institute of Technology and Management. Together, these companies aim to raise at least Rs 9742 crore.
The market regulator issued observation letters for these companies between May 13 and May 16. Mumbai-based real estate company Sri Lotus Developers and Realty has received approval to float its IPO of Rs 792 crore. The company had filed draft IPO papers with SEBI in December 2024. It focuses on the luxury-to-ultra luxury sector, primarily through redevelopment projects, and has onboarded prominent investors, including actors Shah Rukh Khan, Amitabh Bachchan, Hrithik Roshan, and other investors such as Ashish Kacholia. The Rs 792 crore IPO is slated to be a fresh issue, with no secondary share sales expected, the sources added.
Education loan provider Credila’s Rs 5,000 crore IPO comprises both a fresh issue and offer for sale. In March 2024, the HDFC Bank had completed the stake sale in HDFC Credila Financial Services to private equity companies BPEA EQT and ChrysCapital for Rs 9,553 crore.
Coal extraction and logistics company Caliber Mining and Logistics’ IPO consists of a Rs 500 crore fresh issue and Rs 100 crore OFS from promoter selling shareholders. On the other hand, Euro Pratik plans to float a Rs 730 crore public issue, which is entirely an OFS by promoters.
The rebound in IPO activity comes after a significant slowdown in early 2025. Only 10 companies have launched IPOs so far in this calendar year, largely due to market volatility stemming from global and domestic uncertainties such as tariff wars, muted corporate earnings and high valuations. However in contrast, in 2024, India was one of the world’s hottest IPO markets, with 338 companies making their debut on the bourses in 2024, raising a record Rs 1.8 lakh crore surpassing the previous high of Rs 1.3 lakh crore in 2021.
According to the PRIME Database, the IPO pipeline remains strong as 130 companies with proposed public issues worth Rs 2.1 lakh crore are in queue to list their shares on the BSE and the NSE with 58 companies having Sebi approval while 72 awaiting for an approval.
