New Delhi, March 18 – South Korean company LG’s subsidiary, LG Electronics India Limited, and human resource and toll plaza management service provider, Innovision Limited, have received approval from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPO).

As per agency report, SEBI confirmed on Tuesday that both companies had submitted their IPO proposals in December, with approvals granted on March 13 for LG Electronics India and March 12 for Innovision.

According to the IPO filing, LG Electronics India’s parent company will sell over 10.18 crore shares, representing a 15 percent stake. While the company has not officially disclosed the total issue size, sources estimate the IPO to be valued at approximately ₹15,000 crore.

Innovision’s proposed IPO consists of a fresh issue worth ₹255 crore, along with an offer for sale (OFS) of 17.72 lakh shares by promoters Randeep Hundal and Uday Pal Singh.

Meanwhile, SEBI returned the IPO draft of technology-based engineering services and solutions firm Neelsoft on March 10 without citing any reasons. Neelsoft had submitted its initial IPO documents in December.

New Delhi, March 13 – LG Electronics India Limited, a subsidiary of South Korean conglomerate LG, has received approval from the Securities and Exchange Board of India (SEBI) for its ₹15,000 crore initial public offering (IPO). As per agency report, sources familiar with the matter confirmed the regulatory clearance on Thursday.

Following Hyundai Motors India's listing last October, LG Electronics India will become the second South Korean company to enter the Indian stock market. The company had filed its draft red herring prospectus (DRHP) with SEBI in December, proposing to sell over 10.18 crore shares, representing a 15 percent stake in the company.

Industry sources revealed that with SEBI’s approval now in place, LG Electronics India is set to move forward with the public offering. While the exact size of the IPO remains undisclosed, estimates suggest it will be around ₹15,000 crore.

Since the offering is entirely structured as an Offer for Sale (OFS), LG Electronics India itself will not receive any proceeds from the IPO. Instead, the funds raised will be directed to its South Korean parent company.

Kolkata (West Bengal) [India], March 10: Kolkata based Super Iron Foundry Ltd, a company specializing in manufacturing and exports of Manhole Covers & Sanitary Castings, is planning to raise up to Rs. 68.05 crore from its SME public issue. The company has received approval to launch its public issue on BSE SME Platform. The public issue open for subscription on March 11 and closes on March 13. The Proceeds of the public issue will be used for business expansion, including Funding working capital requirements, Repayment/pre-payment, in full or in part, of certain borrowings availed by the company and general corporate purposes. Horizon Management Private Limited is the lead manager of the issue.

Highlights:

• Fresh Public issue of Rs. 68.05 crore opens for subscription from March 11 to March 13
• Minimum lot size for application is 1200 shares; Minimum IPO application amount Rs. 1,29,600
• Funds raised through the issue will be used for working capital requirements, Repayment/pre-payment of certain borrowings and general corporate purposes
• For FY23-24, the company reported revenues of Rs. 154.83 crore and Net Profit of Rs.. 3.94 crore; For the nine months of FY25 ended December 2024, the company reported revenue of Rs. 87.19 crore and Net Profit of Rs. 9.52 crore
• In FY24, 93.73% of the company’s revenues came from exports.
• Horizon Management Private Limited is the lead manager of the issue.

The initial public offering of Rs. 68.05 crore comprises a fresh issue of 63.01 lakh equity shares of face value Rs. 10 each at Rs. 108 per share. Out of the fresh issue of Rs. 68.05 crore, the company plans to utilize Rs. 29 crore towards meeting working capital requirements, Rs. 16 crore towards payment of borrowings and Rs. 15.24 crore towards general corporate purpose. Minimum lot size for the application is 1200 shares, which translates into an investment of Rs. 1,29,600 per application. Retail investor quota for the IPO is kept at 50% of the net offer. Promoter holding post issue will be 70.53%.

Incorporated in in July 1988, Super Iron Foundry Limited manufactures municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings (rollers and crosskills), railway castings, and cast-iron counterweights. The company’s products are utilized in significant construction projects to supply access covers for stormwater, sewerage, telecommunications, and other utility networks. The company’s products include: Municipal Castings,  Ductile Iron Pipe Fittings, etc. The company has a state-of-the-art manufacturing facility and warehouse in Durgapur, West Bengal, which spans 20 acres and has an annual production capacity of 72,000 MT.

With a strong presence in the global market, we specialize in providing durable and reliable casting solutions across multiple industries. In FY24, 93.73% of the company’s revenues came from exports.

Company is actively participating in bids for major infrastructure projects in Saudi Arabia, including:

• SIDRA Project
• WAFRA Package of ROSHN Project (Riyadh)
• Murcia Housing Project etc.

These projects present significant opportunities for expansion and reinforce our commitment to supplying high-quality casting solutions for large-scale developments.

For FY23-24 ended March 2024, the company has reported net profit of Rs. 3.94 crore and revenue of Rs. 154.83 crore.  For the nine months ended December 2024, the company reported revenue of Rs. 87.19 crore and Net Profit of Rs. 9.52 crore with EBITDA Margin of 27.24% and Net Profit Margin of 10.92%. As on 31^st December 2024, ROE of the company was at 14.98%, ROCE at 10.93.

As on 31^st December 2024, Net Worth of the company was reported at Rs. 70.59 crore, Reserves & Surplus at Rs. 53.5 crore and Asset base of Rs. 226.62 crore. Shares of the company will be listed on BSE SME platform.

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New Delhi, March 9 (Web News) – After a strong performance in 2024, the Indian IPO market appears to be slowing down, with no new public offerings launched in the past three weeks. The decline in IPO activity coincides with a downturn in stock markets, leading companies to hold back their listing plans.

As per agency reports, the slowdown is evident in the numbers. In January, only five companies went public, while February saw just four listings. This marks a significant drop compared to December 2023, when 16 companies entered the stock market. The last major IPO to open for subscription was Quality Power Electrical Equipment Limited, which launched on February 14 for a three-day bidding period.

The trend of reduced activity is further highlighted by at least three companies—Advanced System-Tech, SFC Environmental Technologies, and Vini Corporation—pulling back their draft documents in January and February, effectively shelving their IPO plans. This shift follows an impressive 2024, when a total of 91 IPOs collectively raised ₹1.6 lakh crore, fueled by strong retail participation, a robust economy, and a surge in private capital expenditure.

Market analysts attribute the current lull to corrections in the secondary market during January and February, which negatively impacted share prices of already listed companies. According to Equirus Managing Director and Head of Investment Banking, Bhavesh Shah, this downturn has led investors to focus on their existing portfolios rather than seeking new opportunities through IPOs. He emphasized that investor caution has played a key role in reducing market activity for new listings.

Despite the short-term slowdown, the long-term outlook remains positive. Anand Rathi Advisors’ Director and Head of ECM Investment Banking, V. Prashant Rao, stated that the IPO pipeline remains strong, indicating that new public offerings could regain momentum once market conditions stabilize.