Sebi has approved 6 major IPOs, including Canara Robeco Asset Management and Hero Motors
“Discover the latest IPOs in India, including Pine Labs, Orkla India, and Emmvee Photovoltaic Power”
The Securities and Exchange Board of India has granted regulatory approval to six companies, including well-known names like Canara Robeco Asset Management Company and Hero Motors, for launching their Initial Public Offerings. The companies received Sebi’s approval between September 2 and 12, 2025, marking a significant development for the Indian capital markets. The approval is a crucial step towards the companies’ plans to list their shares on the Bombay Stock Exchange and the National Stock Exchange. This article examines the details surrounding these IPOs and the key players involved.
Overview of Companies Approved for IPOs
The companies that have secured Sebi’s approval to proceed with their IPOs include Pine Labs, Orkla India, Manipal Payment and Identity Solutions, and Emmvee Photovoltaic Power, along with Canara Robeco Asset Management Company and Hero Motors. These firms filed their preliminary IPO documents with Sebi between April and July 2025. The green signal from the regulator enables them to move ahead with the next steps in the IPO process. The approval by Sebi means that these companies have met the required regulatory conditions, and their public offerings are now cleared for launch. Importantly, Sebi’s approval is tantamount to a clearance, allowing these firms to begin offering shares to the public.
Detailed Analysis of Individual IPOs
1. Canara Robeco Asset Management Company
Canara Robeco AMC’s IPO consists solely of an Offer for Sale (OFS), where the promoters — Canara Bank and ORIX Corporation Europe NV will sell a combined 4.98 crore equity shares. Notably, this IPO will not involve any fresh issue of shares, meaning the company will not receive any funds from the offering. OFS Details are
- Canara Bank: 2.59 crore equity shares
- ORIX Corporation Europe NV: 2.39 crore equity shares
The entire IPO proceeds will go directly to the selling shareholders, making this a purely secondary offering.
2. Hero Motors
Hero Motors, an auto parts manufacturer, is aiming to raise Rs 1,200 crore through its IPO. The offering will consist of both a fresh issue and an OFS:
- Fresh Issue: Rs 800 crore
- OFS: Rs 400 crore (to be offloaded by promoters)
- Use of Proceeds:
a) Debt Payment: Rs 285 crore
b) Capacity Expansion: Rs 237 crore for purchasing equipment to scale up its facility in Gautam Buddha Nagar, Uttar Pradesh
Under the OFS, significant shareholders like O P Munjal Holdings and Bhagyoday Investments will divest portions of their holdings, with the former offloading shares worth Rs 390 crore.
3. Pine Labs
Pine Labs, a leading fintech firm, has also received approval for its IPO. The company is expected to provide further details about its offering in due course, but it is clear that the fintech sector continues to attract investor interest as digital payment solutions gain momentum.
4. Orkla India
Orkla India, a prominent name in the food and personal care segment, will likely tap the IPO market to further bolster its brand and market presence. The company’s offering will be one to watch as consumer goods continue to dominate the Indian market.
5. Manipal Payment and Identity Solutions
Manipal Payment and Identity Solutions, a key player in the payment and identity verification space, has received Sebi’s approval to float an IPO. This sector has witnessed significant growth due to the increasing digitization of payment systems and the rising need for secure identity solutions.
6. Emmvee Photovoltaic Power
Emmvee Photovoltaic Power, which operates in the renewable energy space, has secured approval for an IPO as well. With the Indian government’s push for renewable energy and sustainability, this IPO is expected to attract considerable attention from investors keen on clean energy investments.
Market Implications and Investment Opportunities
The approval of these six companies to go public reflects a growing confidence in India’s capital markets, with firms from diverse sectors like asset management, manufacturing, fintech, renewable energy, and consumer goods preparing to tap into the equity markets. The IPO landscape remains vibrant, despite the challenges posed by global economic conditions, signalling that investor interest in India remains robust. For retail and institutional investors alike, these upcoming IPOs offer significant opportunities, especially in sectors like fintech, clean energy, and consumer products, which have promising growth prospects. Investors are likely to keep a close eye on the valuations, financial health, and future growth potential of these companies before making investment decisions.
The recent approval by Sebi for the IPOs of Canara Robeco Asset Management Company, Hero Motors, Pine Labs, Orkla India, Manipal Payment and Identity Solutions, and Emmvee Photovoltaic Power marks an exciting phase for the Indian capital markets. As these companies prepare to enter the public markets, investors will have new opportunities to participate in the growth of India’s burgeoning sectors. The regulatory clearance from Sebi serves as a strong signal that the IPO market remains dynamic, despite global uncertainties, and holds considerable potential for the future.