The Securities and Exchange Board of India (SEBI) on Tuesday announced that it approved the initial public offering for six companies to raise capital through initial public offerings (IPOs), according to a regulatory update released on Tuesday.
The approved entities are HDB Financial Services, a subsidiary of HDFC Bank, and Vikram Solar, A-One Steels India, Shanti Gold International, Dorf-Ketal Chemicals, and Shreeji Shipping Global.
These companies had submitted their draft IPO documents to SEBI between October 2024 and January 25, 2025.
They received SEBI’s observations between May 27 and May 30, 2025.Â
HDB Financial Services IPO details
HDB Financial Services plans to raise funds through a combination of a fresh issue of equity shares worth Rs 2,500 crore and an offer-for-sale (OFS) of Rs 10,000 crore by its promoter, HDFC Bank.
Currently, HDFC Bank holds a 94.36 per cent stake in the non-banking financial company (NBFC). The proceeds from the fresh issue will be used to strengthen the company’s Tier-I capital base, supporting future lending and business expansion.
Vikram Solar IPO details
Vikram Solar also plans a mixed IPO, comprising a fresh issue of shares worth up to Rs 1,500 crore and an OFS of up to 17.45 million equity shares by the promoter and promoter group.
The launch and allotment dates of these public issues are yet to be announced.
A-One Steels India targets Rs 650 crore in IPO
A-One Steels India has filed for an IPO totaling Rs 650 crore, including a fresh issue worth Rs 600 crore and an OFS of Rs 50 crore.
PL Capital Markets and Khambatta Securities are the book-running lead managers, while Bigshare Services Pvt Ltd has been appointed as the registrar.
Shanti Gold to issue 1.81 crore shares via public issue
Shanti Gold International will launch a fully fresh IPO comprising 1.81 crore shares through a book-building process. Choice Capital Advisors is the sole book-running lead manager, while Bigshare Services Pvt Ltd is the registrar for the issue.
Dorf-Ketal Chemicals IPO details
Dorf-Ketal Chemicals plans to raise Rs 5,000 crore through a mix of a fresh issue worth Rs 1,500 crore and an OFS of Rs 3,500 crore. The issue is being managed by JM Financial, Citigroup Global Markets India, HSBC Securities & Capital Markets, JP Morgan India, Morgan Stanley India, and Motilal Oswal Investment Advisors. MUFG Intime India (Link Intime) is the registrar to the issue.
Shreeji Shipping to launch 2 crore shares IPO
Shreeji Shipping Global is set to launch a fully fresh IPO of 2 crore equity shares through the book-building route.
Beeline Capital Advisors and Elara Capital are the lead managers for the issue, while Bigshare Services Pvt Ltd will act as the registrar.
Shares of all six companies are proposed to be listed on both the BSE and NSE.
