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SEBI Approves IPOs for 3 Firms: Boost for India's Market
12 Jun
Summary
- SEBI approved IPO proposals for Bombay Coated, Bonfiglioli Transmissions, and Swaraj Green Power.
- Investor interest remains high across manufacturing, industrial, and renewable energy sectors.
- Swaraj Green Power benefits from India's ethanol blending program for cleaner fuels.
The Securities and Exchange Board of India (SEBI) has given the green light to the IPO proposals of three distinct companies: Bombay Coated and Special Steels, Bonfiglioli Transmissions, and Swaraj Green Power and Fuel. This regulatory endorsement signals a robust primary market in India.
Bombay Coated and Special Steels intends to raise capital through a fresh issuance of up to 1.5 crore equity shares. The company had previously filed its draft red herring prospectus in September 2025, and this offering will increase its outstanding shares. Smart Horizon Capital Advisors is managing the book-running lead responsibilities.
Industrial gearbox manufacturer Bonfiglioli Transmissions has also secured SEBI's approval for its public offering. This issue is structured entirely as an offer for sale, involving up to 4.7 crore shares, with existing shareholders diluting their stakes. Axis Capital is serving as the book-running lead manager for this transaction.
Meanwhile, Swaraj Green Power and Fuel, based in Maharashtra, has obtained SEBI's nod for its public offering. The company is involved in an integrated sugar and bio-energy business, including a significant ethanol production facility, positioning it to capitalize on India's supportive policies for renewable fuels.
