In 2024, numerous companies have been launching IPOs to get listed on the stock market. Recently, four more companies—Rubicon Research, Sai Life Sciences (backed by TPG Capital), Sanatan Textiles,
and Metalman Auto—received approval from the Securities and Exchange Board of India (SEBI) to proceed with their IPOs.
According to SEBI, these four companies submitted their IPO documents in July and August, and received SEBI’s nod on October 31. SEBI’s approval is crucial for any company planning to go public.
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Details of Upcoming IPOs
Rubicon Research
Rubicon Research’s IPO is valued at around Rs 1,085 crore. It includes fresh equity shares worth Rs 500 crore
and an Offer for Sale (OFS) of Rs 585 crore from its promoter, General Atlantic Singapore RR Private Limited, which currently owns more than 57% of the company.
Sai Life Sciences
Hyderabad-based Sai Life Sciences plans to raise Rs 800 crore through fresh equity shares, along with an OFS of up to 6.15 crore shares by its promoters, investors, and other shareholders.
Sanatan Textiles and Metalman Auto
Sanatan Textiles aims to raise Rs 500 crore through fresh shares, plus an OFS of up to Rs 300 crore by its promoters. Metalman Auto’s IPO will include a fresh issue worth Rs 350 crore and an OFS of 1.26 crore shares by its promoters.
Notably, BMW Ventures, which filed for an IPO in September, withdrew its application on October 28.
Withdrawn IPO: BMW Ventures
Meanwhile, BMW Ventures, which filed IPO documents in September, withdrew its application on October 28.
These IPOs received approval from SEBI after filing documents in July and August, with SEBI’s conclusion issued on October 31. The approval from SEBI is crucial for any company to move forward with an IPO.