SEBI Greenlights 7 IPOs Worth ₹7,700 Crore Including Meesho and Shiprocket
In a significant boost to India’s primary market, seven companies including e-commerce giants Meesho and Shiprocket have received regulatory approval from SEBI to launch initial public offerings collectively worth approximately ₹7,700 crore.
Key Takeaways
- Meesho leads with largest IPO plan at ₹4,250 crore
- Shiprocket aims to raise ₹2,000-2,500 crore
- All approvals granted between October 14-31, 2024
- Companies filed draft papers between May-July 2024
Approved Companies and Their IPO Plans
Meesho’s ₹4,250 Crore Public Offer
The Softbank-backed e-commerce platform’s IPO comprises a fresh issue of up to ₹4,250 crore and an offer for sale of 17.57 crore equity shares by existing shareholders including Elevation, Peak XV, Venture Highway and Y Combinator.
Proceeds will be utilized for:
- Cloud infrastructure investment
- AI and technology team salaries
- Marketing and brand initiatives
- Strategic acquisitions
Shiprocket’s ₹2,500 Crore Offering
The Temasek-backed e-commerce enablement platform is looking to raise ₹2,000-2,500 crore through its public issue. Both Meesho and Shiprocket utilized the confidential pre-filing route for their IPO applications.
Other Approved IPOs
German Green Steel and Power: Plans to raise ₹450 crore through fresh issue for manufacturing facility expansion and hybrid power plant setup.
Allied Engineering Works: Aims to mobilize ₹400 crore for new manufacturing facilities and working capital requirements.
Skyways Air Services: Combination of fresh issue and OFS with funds earmarked for debt payment and working capital.
Rajputana Stainless: Fresh issue and OFS with capital allocated for capex and debt repayment.
Manika Plastech: ₹115 crore fresh issue for plant machinery and debt reduction.
Market Context
The approvals come during a robust period for Indian IPO markets, with 86 companies having already tapped the mainboard in 2025. Several other issues including Groww and Pine Labs are scheduled for the coming weeks.
Meanwhile, Bombay Coated and Special Steels withdrew its draft IPO documents on October 30, while SEBI returned the preliminary papers of Vishal Nirmiti on the same day.
