IPO Momentum Grows as ICICI Prudential AMC and INOX Clean Energy Lead Five-Firm Filing Wave – EQ
In Short : Five companies, including ICICI Prudential AMC and INOX Clean Energy, filed IPO papers with SEBI last week. ICICI Prudential plans a ₹10,000 crore offer-for-sale, while INOX aims to raise ₹6,000 crore through a mix of fresh issue and OFS. Other filers include Orient Cables, Aggcon Equipments International, and Kiaasa Retail, targeting varied capital raises across sectors.
In Detail : Five companies, including ICICI Prudential Asset Management Company and INOX Clean Energy, submitted draft papers with the Securities and Exchange Board of India (SEBI) last week, signaling a busy period for India’s primary market. These filings span sectors such as finance, clean energy, manufacturing, and retail, indicating broad investor interest.
ICICI Prudential AMC’s draft red herring prospectus outlines a pure offer-for-sale of 1.76 crore equity shares by its foreign partner, Prudential Corporation Holdings. The issue, expected to raise around ₹10,000 crore, will not involve a fresh issue of shares, meaning the asset management company won’t receive any proceeds directly.
INOX Clean Energy, a major player in India’s renewable energy sector, plans to raise ₹6,000 crore through a combination of fresh issue and offer-for-sale. The company aims to boost its market presence and support its ambitious growth plans in solar, wind, and green hydrogen projects. This could become one of the country’s largest clean energy IPOs.
In addition to these two major players, three other companies also filed IPO documents. Orient Cables seeks to raise approximately ₹700 crore, Aggcon Equipments International is targeting ₹332 crore, and fashion retailer Kiaasa Retail has filed for a smaller, fresh issue to fund its expansion plans.
Market analysts see ICICI Prudential’s offering as a strategic exit for Prudential Holdings, while INOX’s IPO is expected to help finance its aggressive capacity expansion plans. The clean energy firm’s robust pipeline and capital expenditure strategy are likely to attract environmentally conscious investors.
The filings come at a time of growing momentum in India’s IPO market, driven by strong investor sentiment and robust economic indicators. All five offerings await SEBI approval, and the final issue sizes and timelines will be shaped by market conditions and investor appetite.
