Sebi approves 4 IPOs including Integris Medtech, Alpine Texworld and Anjali Labtech

Capital market regulator Sebi has granted approval to four companies to launch their IPOs, paving the way for new activity in the primary market pipeline. The approved proposals include offers from Integris Medtech, Alpine Texworld, Anjali Labtech and Appl Containers.Of the four, Integris Medtech will launch one of the bigger issues. The company, described as the second largest diversified medical technology platform headquartered in India in terms of operating revenue for FY25, plans to raise up to Rs 925 crore through a fresh issue of shares of face value of Re 1 each. The IPO also includes an offer for sale of up to 2,16,74,531 shares.

Due to the offer to sell component, promoter selling shareholders will dilute part of their stake. Evercure Holdings will sell a maximum of 1,51,74,251 shares, while Gurmit Singh Chugh and Punita Sharma will sell a maximum of 32,50,140 shares each.The company has indicated that it may consider a pre-IPO placement of up to Rs 185 crore before filing the final prospectus with the Registrar of Companies, in consultation with its book running lead managers.

It is proposed that the net proceeds from the new issue will be largely used for debt reduction. About Rs 696.39 crore will go towards repayment or prepayment of certain loans, including interest and prepayment charges, availed by its wholly owned and run-off subsidiaries. The balance will be used for general corporate purposes.

Alpine Texworld has also received the regulator’s compliment for its public issue. The IPO will be structured as a book-built issue consisting entirely of a fresh issue of up to 1.50 crore equity shares. It is proposed to list the shares on both the NSE and the BSE. D&A Financial Services has been appointed as book running lead manager, while Kfin Technologies will act as registrar.

Anjali Labtech, headquartered in Surat, Gujarat, is another company that has been cleared to tap the capital markets. The company operates in the lab-grown diamond segment and is engaged in the manufacturing and supply of lab-grown diamonds, lab-grown diamond jewelry, diamond semiconductor materials and Microwave Plasma Chemical Vapor Deposition systems. Its activities cover both the B2B and B2C markets worldwide. In addition to jewelry-quality diamonds, Anjali Labtech also produces diamond semiconductor substrates used in high-tech applications, as well as MPCVD equipment that enables the production of diamonds. The offering is expected to support expansion plans and strengthen its position in the growing sustainable diamond and advanced materials sector.

Appl Containers is the fourth company to receive permission. The proposed book-built issue comprises 0.38 crore equity shares, including a fresh issue of up to 0.13 crore equity shares and an offer for sale of up to 0.26 crore equity shares. The shares are proposed to be listed on both NSE and BSE.

Cumulative Capital is the lead manager of the issue, while Bigshare Services will act as registrar.