Several Indian companies have made bold moves toward going public, signalling optimism in the country’s equity markets. In the last week of December 2024, as many as 9 companies filed their Draft Red Herring Prospectuses (DRHPs) with the Securities and Exchange Board of India (SEBI), these firms are looking to tap into public investment for growth. Among all these filings, the prominent names in the queue are Seshaasai Technologies, backed by well-known investor Mathew Cyriac, as well as Anlon Healthcare, Earthood Services, and Neilsoft. Each company brings its own story of ambition, innovation, and expansion plans.
Seshaasai Technologies: Cyriac’s Bet on BFSI Tech
Seshaasai Technologies is making waves with its SEBI filing. The company, which offers cutting-edge solutions to the banking, financial services, and insurance (BFSI) sectors, is eyeing a substantial INR 600 crore through a fresh issue of equity shares. Additionally, around 7.87 million shares are being offered for sale by its promoters, Pragnyat Pravin Lalwani and Gautam Sampatraj Jain.
What sets Seshaasai apart? It has carved out a niche in the payments card manufacturing space, commanding an impressive 34.5% market share as of fiscal 2024. Beyond that, it’s also one of the largest producers of cheque leaves in India—an old-school yet indispensable part of banking.
The company’s financials underline its growth momentum. For the quarter ending 30 June 2024, it posted revenues of INR 360.50 crore. Investors are likely to take comfort in its consistent profitability and the involvement of Mathew Cyriac, a seasoned investor known for spotting opportunities across sectors. Cyriac’s backing is expected to draw attention to this IPO and boost confidence among retail and institutional investors alike.
Anlon Healthcare – Pharma Player
Anlon Healthcare, another company making headlines, specializes in manufacturing high-purity pharmaceutical intermediates and active pharmaceutical ingredients (APIs). Its IPO filing includes plans for a fresh issue of 1.4 crore equity shares.
The company’s ambitions are clear. Proceeds from the offering are earmarked for expansion—over INR 30.72 crore will go toward capital expenditures, INR 5 crore to repay debt, and INR 35.98 crore for working capital. The rest will be used for general corporate purposes.
Anlon already exports to more than 15 countries and boasts approvals from regulatory heavyweights like ANVISA in Brazil and PMDA in Japan. Financially, it looks robust, having reported revenues of INR 37.83 crore and net profits of INR 4.53 crore for the quarter ending June 2024. With the pharmaceutical industry’s global relevance growing stronger, Anlon’s prospects could resonate with investors seeking exposure to this space.
Earthood Services
Earthood Services is charting a different course. Focused on Environmental, Social, and Governance (ESG) compliance and carbon validation services, the company has filed its DRHP with plans to scale operations. As businesses worldwide face mounting pressure to adopt sustainable practices, Earthood hopes to ride the wave of rising ESG priorities.
Funds raised through its IPO will be channelled into enhancing service capabilities and broadening its footprint. The company’s focus aligns with growing trends in green finance and sustainable investments, adding appeal for environmentally conscious investors.
Neilsoft
Neilsoft is yet another player aiming for public funding, but its domain is a blend of technology and construction. With digital tools revolutionizing infrastructure and building processes, Neilsoft is looking to leverage its expertise in tech-driven construction solutions.
The company plans to use IPO proceeds to develop its technological capabilities and grow its market reach. As digitization becomes central to modern construction, Neilsoft is betting on its ability to stay ahead of the curve and capture new opportunities.
The Bigger Picture: India’s IPO Rush
These IPO filings point to a larger trend unfolding in India’s corporate world. From BFSI technology and pharmaceuticals to ESG compliance and construction tech, companies across diverse industries are turning to public markets for growth capital. It’s not just about raising funds—it’s about scaling operations, repaying debt, and reinforcing market positioning.
For investors, the opportunities are plenty, but so are the risks. Each company brings unique strengths and growth prospects, but thorough evaluation of financial performance, competitive standing, and long-term strategies remains key. The coming months are likely to be busy ones for SEBI and investors alike, as India’s IPO pipeline continues to heat up.  For more information related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
