HD Fire Protect, Xtranet Technologies, Parijat Industries India, and Rotomag Enertec have received approval from the Securities and Exchange Board of India to go ahead with their IPO plans. CSM Technologies and Eldeco Infrastructure and Properties IPO papers were also cleared by the capital markets regulator, while the draft document of AITMC Ventures, filed via the confidential route, also received the green signal from SEBI.
As per the processing status of draft offer documents published on January 30, the capital markets regulator has issued observations on the draft papers of HD Fire Protect, and Parijat Industries India on January 29, while the observations on the draft documents of Xtranet Technologies, and Rotomag Enertec have been issued on January 30.
In SEBI parlance, the issuance of observations on the preliminary papers means the company is allowed to launch its IPO within one year from the receipt of the observation letter, while a company that files its DRHP through the confidential route gets 18 months to launch the IPO.
All the five companies -- HD Fire Protect, Xtranet Tech, Parijat Industries, Rotomag Enertec, and CSM Technologies -- filed their draft papers with the capital markets regulator in September 2025 to raise funds via initial public offerings (IPOs).
Maharashtra-based fire protection equipment manufacturer HD Fire Protect's initial share sale comprises of entirely an offer-for-sale of 2.6 crore equity shares by promoters with no fresh issue component. It means the company will not receive any money from the offer, and all the funds will be received by selling shareholders.
The maiden public issue of agrochemical company Parijat Industries (India) will be a combination of fresh issuance of shares worth Rs 160 crore and an offer-for-sale (OFS) of 2.03 crore equity shares by promoters, investor India Agri Business Fund II and other selling shareholder Abhay Kumar Gupta.
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The New Delhi-based company will utilise Rs 121.6 crore of fresh issue proceeds for repayment of debt and the remainder funds for general corporate purposes.
Further, Madhya Pradesh-based information technology solutions provider Xtranet Technologies aims to raise Rs 190 crore via IPO which consists of entirely fresh issue with no offer-for-sale component.
The company will spend Rs 22 crore of IPO proceeds for repayment of certain outstanding borrowings, Rs 7.3 crore for purchase of systems and hardware, Rs 102 crore for working capital requirements, and the rest for general corporate purposes
Gujarat-based Rotomag Enertec, which is backed by Mauritius-based BanyanTree Growth Capital, has tapped capital markets to raise up to Rs 500 crore via fresh issue, while existing shareholders including BanyanTree Growth Capital will be selling up to 2.4 crore equity shares via offer-for-sale.
As a part of fresh issue component, it may also consider raising up to Rs 100 crore in pre-IPO round.
Rotomag that manufactures direct current (DC) motors, solar-powered pumps and photovoltaic string inverters will spend Rs 100 crore of fresh issue proceeds for redemption of non-convertible debentures, Rs 275 crore for working capital requirements and the remaining funds for general corporate purposes.
CSM Technologies, a Bhubaneswar-based GovTech solutions and digital transformation services provider, has proposed to raise funds via an IPO to fund its working capital requirements, repay certain outstanding borrowings, and achieve inorganic growth through unidentified acquisitions, along with general corporate purposes.
The IPO will consist of a fresh issue of 1.29 crore equity shares by the company, with no offer-for-sale component.
Delhi-based real estate developer Eldeco Infrastructure and Properties approached the capital markets in October 2025 by filing preliminary papers to raise funds via an IPO. It plans a Rs 1,000-crore initial share sale to improve its net debt-to-equity ratio.
The public issue will be a combination of a fresh issue of shares worth Rs 800 crore, while promoters Pankaj Bajaj and Bandana Kohli will sell shares worth Rs 200 crore through the offer-for-sale route.
Gurugram-based AITMC Ventures, which claims to be a leader in skill development and drone technology, filed its Draft Red Herring Prospectus with SEBI through the confidential route in October 2025.
However, Associated Power Structures, which manufactures lattice structures for power transmission and distribution, wind energy, and telecommunications sectors, has withdrawn its draft papers on January 30. The company had filed the draft document in September 2025 for its IPO fund-raising plans, which comprised a fresh issue of shares worth Rs 400 crore and an offer-for-sale of 71.42 lakh shares by promoters.
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