SEBI has cleared five companies to proceed with Initial Public Offerings after issuing and resolving their observations. The green light covers Dhoot Transmission, Horizon Industrial Parks, Hotel Polo Towers, Crystal Crop Protection, and Surgiwear. With approvals in place, each firm can move forward with raising funds through public issues, marking a fresh wave of IPO activity for Indian markets.
Bank of Baroda posted a record Q4 net profit of Rs 5,616 crore despite higher provisions. The result was supported by stronger net interest income and improving asset quality, with management highlighting better balance-sheet metrics. The bank also outlined FY27 growth guidance and approved a Rs 6,000 crore capital raising plan to fund future expansion.
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InCred Holdings, parent of NBFC InCred Financial Services, has filed its updated draft red herring prospectus with SEBI. The proposed public issue includes a fresh share sale of up to ₹1,250 crore and an offer for sale of up to 9.9 crore equity shares. Proceeds will mainly strengthen InCred Finance’s capital base and back onward lending. Several investors are set to offload shares via OFS.
Gujarat Cotex will raise about Rs 43 crore through a rights issue to back expansion plans, including a new premium hotel. The offer is structured as six shares for every one held, opening April 10 and closing May 8. The funding is also expected to strengthen the company as it moves into real estate, hospitality, and agri-commodity trading.
Axis Bank’s Q4 net profit edged down, hit by trading losses and a new provision set aside for potential risks. Even so, the bank reported improved asset quality alongside growth in advances and deposits. Management has recommended a dividend and is also laying groundwork for capital raising to strengthen its balance sheet going forward.
JSW Group plans to monetize unused land it acquired with Akzo Nobel India, selling properties that are not currently needed for operations. The company expects the divestment could recover as much as half of its initial investment. It’s considering land sales in locations such as Thane to free up capital for broader business needs.
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SEBI has reportedly approved a major flexibility tweak for IPOs: companies may revise the fresh issue size by up to 50 percent without refiling the draft offer document. The change is designed to help firms raise capital more easily during volatile market conditions, easing a current rule that forces refiling if size changes exceed 20 percent from the original plan.
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