Veritas Finance eyes ₹2,800 crore IPO – comprising a fresh issue of ₹600 crore and an Offer-for-Sale worth ₹2,200 crore by the investor and individual selling shareholders, according to its DRHP
IPO proposals of Veritas Finance, Ajay Poly, Reggal Resources, Laxmi India Finance and Jajoo Rashmi Refractories have received market regulator SEBI’s clearance.
Veritas Finance eyes ₹2,800 crore IPO — comprising a fresh issue of ₹600 crore and an Offer-for-Sale (OFS) worth ₹2,200 crore by the investor and individual selling shareholders, according to its draft red herring prospectus (DRHP). Under the OFS, shares worth ₹550 crore each would be offloaded by Norwest Venture Partners X – Mauritius, Kedaara Capital Fund II LLP, British International Investment plc, ₹425 crore by Lok Capital Growth Fund and ₹75 crore by Growth Catalyst Partners LLC besides some individual shareholders.
Veritas Finance proposes to utilise the net proceeds towards augmenting the capital base to meet future business requirements of the company towards onward lending.
Ajay Poly’s IPO is a mix of fresh issue worth ₹238 crore and an OFS of up to 93 lakh shares each by Promoter and Investor Selling Shareholders.
The New Delhi-based refrigeration sealing solutions company plans to use the net proceeds for repayment/prepayment, in full or part, of certain borrowings, funding capital expenditure requirements towards purchase of equipment, plant and machinery and general corporate purposes. Motilal Oswal Investment Advisors Ltd, and SBI Capital Markets Ltd are the sole book-running lead managers and KFin Technologies Ltd is the registrar to the issue.
Regaal Resources, Kolkata-based FMCG player, is also a mix of fresh issue of ₹190 crore and an OFS of up to 90 lakh shares by promoter and promoter group selling shareholders. The company is one of the largest manufacturers of maize-based specialty products in India, with an installed crushing capacity of 750 tonnes per day.
Pantomath Capital Advisors Private Ltd and Sumedha Fiscal Services Ltd are the BRLMs and Link Intime India Private Ltd is the registrar.
Laxmi India Finance, a Jaipur-based NBFC, plans to launch IPO – a fresh issue of shares up to 1,04,53,575 and an OFS of up to 56,38,620 shares by PL Capital Markets Private Ltd is the sole book-running lead manager and Link Intime India Private Ltd is the registrar of the issue.
The IPO of Jajoo Rashmi Refractories is entirely a fresh issue of ₹150 crore. The Jaipur based company is manufacturer and exporter of various grades of ferro alloys.
Unistone Capital Private Ltd is the sole book-running lead manager and Bigshare Services Private Ltd is the registrar of the issue.
Published on May 6, 2025
