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News Topical, Digital Desk : Indian capital markets regulator SEBI on Monday approved the initial public offerings (IPOs) of five new companies, indicating that the bullish trend in the Indian primary market is still intact.
The approved companies include sectors such as dairy, food tech, private equity, manufacturing, and cement, reflecting widespread investor interest before the end of the year.
Milky Mist Dairy IPO Approved Tamil Nadu-based Milky Mist Dairy Food Ltd plans to raise approximately ₹2,035 crore. This includes a fresh equity issue of ₹1,785 crore and an offer for sale (OFS) of ₹250 crore from promoters. The company will use the IPO funds to repay approximately ₹750 crore of debt and expand its Perundurai plant, adding new production lines such as whey protein, yogurt, and cream cheese. Milky Mist has experienced strong growth in recent years. Revenue increased from ₹1,394 crore in FY23 to ₹2,349 crore in FY25, a CAGR of approximately 30%. The company's EBITDA margin is approximately 13%. Milky Mist is known for its high-quality products such as cheese and yogurt and procures milk directly from over 67,000 farmers. SEBI has also approved the IPO of Curefoods India. It is the parent company of EatFit and Frozen Bottle. SEBI has given the green signal to its ₹800 crore IPO. This issue will be a combination of a fresh issue and an OFS. The company will use the proceeds to expand its cloud kitchen network and restaurants. Curefoods is one of the top two cloud kitchen companies in India and is known for its strong presence in the digital food service segment. Gaja Capital to become India's first private equity firm: This is the first time a private equity company has received approval for an IPO in India. Gaja Capital, now reorganized as Gaja Alternative Asset Management Ltd, has received SEBI approval for a ₹600 crore issue. The company had previously conducted a pre-IPO placement of ₹125 crore, which included investors like HDFC Life and SBI Life. This deal values the company at approximately ₹1,625 crore. Established in 2004, Gaja Capital focuses primarily on the consumer, education, and financial services sectors. Steamhouse India and Kanodia Cement also receive the green light . Steamhouse India and Kanodia Cement have received the other two approvals. Steamhouse provides centralized steam supply to industrial clients, while Kanodia Cement plans to issue a full-fledged OFS. Both companies reflect the continued strength of India's manufacturing and infrastructure sectors. Vedanta Sterlite Electric IPO put on hold In contrast, SEBI has put on hold the IPO of Vedanta Group's Sterlite Electric. The issue was a combination of a fresh issue and an OFS from promoter Twin Star Overseas Ltd., which holds approximately 70% of the company.
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