Infra firm RKCPL, Chartered Speed, 6 others get Sebi nod to float IPOs

New Delhi, Jan 2 (PTI) As many as eight companies, including RKCPL Ltd, Chartered Speed, Glass Wall Systems (India) Ltd and Jerai Fitness, have secured Sebi's approval to mobilise funds through initial public offerings (IPOs), data with the markets regulator showed on Friday.

The other firms to receive regulatory nod are Shriram Food Industry, Vadodara-based Tempsens Instruments (India) Ltd, Indira IVF and Rays Of Belief Ltd.

The eight companies, which filed preliminary IPO papers between July and October, obtained the regulator's observations between December 26 and January 2.

In Sebi's parlance, receipt of observations is equivalent to regulatory clearance to proceed with a public issue.

Fertility services provider Indira IVF and Rays Of Belief Ltd filed their draft papers with Sebi during July-August using the confidential route.

Construction and infrastructure firm RKCPL Ltd's proposed IPO aims to mobilise Rs 700 crore by issuing fresh equity shares and Rs 550 crore through an offer-for-sale, aggregating to a total of Rs 1,250 crore.

Proceeds from the fresh issue will be deployed to strengthen the company's operations and balance sheet. Of the Rs 700 crore fresh issue, about Rs 200 crore has been earmarked to meet working capital requirements, while Rs 130.02 crore will be used for the purchase of construction equipment, according to its draft papers.

In addition, Rs 50 crore will be utilised for repayment of debt, Rs 138 crore will be invested in subsidiaries to partly or fully repay their borrowings and general corporate purposes.

The Rs 855-crore proposed IPO of passenger mobility firm Chartered Speed Ltd is a mix of fresh equity raise of Rs 655 crore and an OFS of shares worth Rs 200 crore by promoters Pankaj Gandhi and Alka Pankaj Gandhi.

From the issue, Rs 97 crore will be used to invest in electric buses, Rs 396.4 crore will be utilised for debt payment, and the balance will be allocated for general corporate purposes.

The Ahmedabad-based company may also consider a pre-IPO placement of up to Rs 131 crore, in which the size of the fresh issue will be reduced accordingly.

As per the DRHP of the Mumbai-based Glass Wall Systems (India) Ltd, which manufactures and installs facade systems, the IPO comprises a mix of shares worth Rs 60 crore and an offer-for-sale (OFS) of 4.02 crore shares by promoters and investors India Business Excellence Fund IIA and Vistra ITCL (India) Ltd.

Shriram Food Industry's IPO includes up to 2.12 crore fresh equity shares and an offer for sale of 52 lakh shares by promoters -- Orient Dealtrade Pvt Ltd and Greta Industries Pte Ltd.

Incorporated in 2014, Shriram Food Industry operate on a business-to-business model and is primarily engaged in the export of rice to international markets.

According to the draft papers of fitness equipment maker Jerai Fitness, the company's proposed IPO is entirely an OFS of 43.92 lakh equity shares by promoters.

Since the issue is an OFS, the company itself will not receive any proceeds from the listing.

The company offers equipment tailored to a diverse clientele of commercial gyms, hotels, corporations, and real estate projects in domestic and international markets, exporting to multiple countries like Japan, the UAE, Australia, Serbia, and Sweden.

Vadodara-based Tempsens Instruments (India), which is a thermal engineering and specialised cable manufacturer, proposed a public issue that is a mix of fresh issue of equity shares worth Rs 118 crore and an OFS of more than 1.79 crore equity shares by promoters and other selling shareholders.

In a public announcement in July 2025, Indira IVF stated that it has submitted "the pre-filed draft red herring prospectus with Sebi and the stock exchanges... in relation to the proposed initial public offering of its equity shares on the main board of the stock exchanges".

The confidential pre-filing route allows the company to withhold public disclosure of details under the draft red herring prospectus (DRHP). Further, pre-filing the DRHP does not guarantee the company will go ahead with the IPO.

The shares of these eight companies will be listed on the BSE and NSE. PTI HG HG BAL BAL