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Kent RO, 3 others get Sebi nod for IPOs: Here's all you need to know
Upcoming IPOs: Four companies, including Kent RO Systems, Karamtara Engineering, Vidya Wires and Mangal Electrical Wires, have received approval from the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO).
These companies are collectively expected to raise around ₹2,500 crore through their public issues. The companies filed their draft papers with the market regulator in January 2025.
Here are the key details you should know:
Kent RO Systems
The water purifier company has received Sebi's nod for a book-built IPO comprising an offer for sale (OFS) of 10.1 million shares by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta. The company will not receive any proceeds from the offer. Kfin Technologies is the registrar of the issue. JM Financial and Motilal Oswal Investment Advisors are the book-running lead managers of the issue.
Karamtara Engineering Services
The plans to raise ₹1,750 crore through a combination of fresh issues worth ₹1,350 crore and an offer for sale (OFS) worth ₹400 crore. MUFG Intime India, formerly Link Intime, is the registrar of the issue. JM Financial, ICICI Securities, and IIFL Capital Services are the book-running lead managers.
According to the draft red herring prospectus (DRHP), the company plans to use ₹1,050 crore from the net fresh issue proceeds for prepayment, repayment and/or payment to its lenders towards borrowings and Acceptances, in part or full.
Karamtara Engineering is a backward-integrated manufacturer of products for renewable energy and transmission line sectors. The company has a diverse product portfolio including structures and fasteners in the solar energy and transmission sectors, and overhead transmission line (OHTL) hardware fittings and accessories.
Mangal Electrical
The Rajasthan-based transformer and electrical equipment manufacturer aims to raise ₹450 crore through an IPO. The IPO, with a face value of ₹10, is entirely a fresh issue of shares up to ₹450 crore with no offer-for-sale component.
According to the DRHP, from the net issue proceeds, ₹96.03 crore will be used for repayment/ prepayment, in full or in part, of certain outstanding borrowings, ₹120 crore for expanding the facility at Unit IV situated Reengus, Sikar District, Rajasthan and civil works at its existing head office, Jaipur, Rajasthan to optimise space usage and increase storage capacity, and ₹122 crore for funding working capital requirements. The remaining funds will be used for general corporate purposes.
Mangal Electrical Industries is in the business of processer of transformer components, including transformer lamination, CRGO slit coils, amorphous cores, coil assemblies and core assemblies, wound core, toroidal core, and oil-immersed circuit breakers. The company has five production facilities in Rajasthan with an aggregate production capacity of 16,200 MT for CRGO, 7,50,000 KVA for transformers, 75,000 units for ICB and 2,400 MT for Amorphous units per annum.
Vidya Wires
The copper and aluminium wires company plans to raise ₹320 crore through a fresh issue and an OFS for 10 million shares. MUFG Intime India, Link Intime, is the registrar for the issue. Pantomath Capital Advisors and IDBI Capital Market Services are the book-running lead managers of the Vidya Wires IPO.
Incorporated in 1981, Vidya Wires manufactures winding and conductivity products for various industries, including precision-engineered wires, copper strips, conductors, busbars, specialized winding wires, PV ribbons, and aluminium paper-covered strips. The company has expanded its manufacturing capacity to 19,680 MT per annum and plans to increase it to 37,680 MT per annum with an additional 18,000 MTPA units in Narsanda, Gujarat.
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