IPOs of three more companies are ready to be launched soon. Capital markets regulator SEBI has approved the IPO proposals of GNG Electronics, Amanta Healthcare, and Glottis last week.
SEBI issued observation letters for Glottis on June 16, Amanta Healthcare on June 19, and GNG Electronics on June 20.
An observation letter from SEBI means that the company can launch its IPO within the next one year.
Amanta Healthcare IPO
Pharmaceutical company Amanta Healthcare plans to raise funds through an IPO to grow its business. The company re-submitted its draft papers to SEBI on February 3 this year. The IPO will include 1.25 crore fresh equity shares.
Based in Gujarat, Amanta Healthcare makes both large and small volume parenterals across six therapeutic segments. It also produces medical devices.
The money raised from the IPO will mainly be used for building a new production line in Hariyala, Gujarat, and for buying equipment, plants, and machinery. Beeline Capital Advisors is managing this IPO.
Glottis IPO
Glottis, a logistics solutions company based in Chennai, filed its IPO draft with SEBI on February 8 this year. The IPO will include new shares worth Rs 160 crore.
In addition, there will be an offer for sale (OFS) of 1.45 crore shares by the promoters Ramkumar Senthilvel and Kuttappan Manikandan.
The funds raised from the new shares will be used to buy commercial vehicles and containers.
The rest will be used for general corporate purposes. Pantomath Capital Advisors is the lead manager for this IPO.
GNG Electronics IPO
Mumbai-based GNG Electronics is India’s largest company for refurbishing laptops and desktops.
Refurbishing means making used electronic devices look and function like new by making necessary changes.
GNG Electronics re-submitted its draft IPO papers to SEBI on March 25, 2025. The IPO will include new equity shares worth Rs 450 crore.
Additionally, there will be an OFS of 51 lakh shares by the promoters. The funds raised from the fresh shares will be used to repay debt and for other general corporate needs.
Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the merchant bankers handling this IPO.
