TATA Capital Ltd IPO : Subscribe

  • Date

    06th Oct 2025 - 08th Oct 2025

  • Price Range

    Rs.310 to Rs.326

  • Minimum Order Quantity

    46

Price Lot Size Issue Date Issue Size
₹310 to ₹326 46 06th Oct, 2025 –08th Oct, 2025 ₹15,511.87 Cr

TATA Capital Ltd

Tata Capital Ltd., the flagship financial services company of the Tata group is a subsidiary of Tata Sons Private Limited, the holding company of the Tata group and the promoter of the company. According to the CRISIL Report, Tata Capital is the third-largest diversified NBFC in India, with total gross loans of Rs. 2,334 billion as of June 30, 2025 and is among the fastest-growing large diversified NBFCs, having recorded a CAGR of 37.3% in gross loans between March 31, 2023, and March 31, 2025. Since commencing its lending operations in 2007, the company has served 7.3 million customers up to June 30, 2025 and through its portfolio of over 25 lending products, caters to a diverse customer base comprising salaried and self-employed individuals, entrepreneurs, small businesses, small and medium enterprises, and corporates. Tata Capital operates an omni-channel distribution model that integrates its wide branch network, a robust partner ecosystem, and a strong digital presence to deliver a superior customer experience. Its extensive pan-India distribution network comprises 1,516 branches across 27 States and Union Territories. Its branches are typically staffed with an in-house team handling customer engagement, acquisition, loan processing, documentation, and servicing. The company’s lending business is structured across Retail Finance, SME Finance and Corporate Finance, each focused on distinct customer needs. In addition to its lending business, it has a non-lending business which includes distribution of third-party products such as insurance and credit cards, wealth management services catering to high-net-worth individuals and retail clients, and private equity business, focused on growth themes such as urbanisation, manufacturing, and strategic services, as well as healthcare themes including pharmaceuticals, hospitals, contract research and manufacturing, diagnostic chains, and other healthcare services. Tata Capital has a well-diversified liability base supported by a credit rating of AAA from CRISIL, ICRA, CARE and India Ratings, which is the highest possible credit rating that can be assigned to any NBFC in India.

Objective of the Advance Agrolife Ltd IPO

The net proceeds are proposed to be utilised towards augmentation of the company’s Tier-I capital base to meet its future capital requirements, including onward lending, which are expected to arise out of the growth in the company’s business, and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time.

Rationale To TATA Capital Ltd IPO

Prudent risk culture with robust credit underwriting and collections capabilities, ensuring stable asset quality

Tata Capital’s agile and responsive risk function, which fosters a prudent risk culture across the company, has helped it maintain one of the lowest Gross Stage 3 and Net Stage 3 loan ratios, as well as the third-highest PCR among large diversified NBFCs in India as of June 30, 2025. The company’s robust risk management framework covers a wide range of risks, including credit, operational, market, information security, fraud, and reputational risks. Risk accountability and oversight form an integral part of its governance structure, reinforcing responsible business practices. The framework is further strengthened by its credit underwriting and collections processes. The company’s underwriting team operates independently of the sales function and follows clearly defined credit policies in extending loans. Tata Capital employs a tailored, product-based underwriting approach, using either rule-based models, high-touch methods, or a combination of both. Its rule-based engines leverage advanced models integrated with credit bureau and alternate data sources such as the RBI’s Account Aggregator system, and customer information to generate internal risk profiles. As of June 30, 2025, new-to-credit (NTC) customers (excluding TMFL) represented 3.5% of total gross loans, with more than 90% allocated to secured loans. The company’s collections infrastructure uses a mix of in-house teams and external agencies, which are deployed across pre-delinquency management, early delinquency, and recovery stages. It relies on advanced analytical tools, including over 80 predictive analytical models and Machine Learning (ML)-based models and dashboards, to continuously monitor portfolio performance, manage early warnings, and optimise loan recovery efforts, thereby ensuring timely recovery and minimizing credit losses. A proactive approach to risk management, supported by multiple layers of defence and advanced data analytics capabilities, has enabled Tata Capital to maintain strong asset quality.

Digital and analytics at the core, driving superior experiences and outcomes

With over two decades of operational experience in multimodal logistics services across different verticals, Glottis has developed strong internal intelligence on trade flows and volumes across routes, seasonality impact on volumes and freight across global routes, diverse customer base to enable two-way business with minimum wastage of empty runs for business partners. Glottis offers customized logistics solutions to a wide range of customers and industries across more than 125 countries, supported by a network of eight branch offices as of March 31, 2025. Its focus on quality, providing customised solutions and timely execution of orders has helped . establish and sustain long-term client relationships. Through customer referrals, the company has been able to expand its offerings to new clients in similar industries, further growing its customer base and geographic reach. Owing to its extensive experience, Glottis has executed projects involving the supply chain of critical and sensitive components, including solar panels, solar cells, glass panels, and advanced equipment for manufacturing solar cells, etc. The company has built a track record of executing complex and customised orders, particularly for customers in the renewable energy sector. Additionally, its expertise allows it to gather and study route data for optimisation, enabling cost efficiency for clients while maintaining a scalable and flexible service portfolio. 

Valuation of TATA Capital Ltd IPO

Tata Capital Ltd., the flagship financial services company of the Tata Group and a subsidiary of Tata Sons Pvt. Ltd., is classified as an Upper Layer NBFC by the RBI. Since commencing operations in 2007, it has served over 7.3 million customers. With a comprehensive suite of over 25 lending products, the company caters to a broad customer base, including salaried and self-employed individuals, entrepreneurs, small businesses, SMEs, and corporates. Additionally, Tata Capital distributes third-party products such as insurance and credit cards, provides wealth management services, and acts as a sponsor and investment manager for private equity funds. NBFCs have shown strong resilience and have gained importance in India’s financial ecosystem, growing from under Rs. 2 trillion AUM at the turn of the century to Rs. 48 trillion by the end of FY25. Going ahead, NBFC credit growth is projected at 15-17% between FY25 and FY28, supported by demand across retail, MSME, and corporate segments. Backed by the strength of its Tata Group parentage, diversified loan portfolio, robust risk management practices, and pan-India omni-channel presence, Tata Capital is well-positioned to benefit from this growth opportunity. The company’s proactive approach to risk management, with multiple layers of defence and advanced data analytics, has ensured strong asset quality. Tata Capital’s loan book is granular, with ticket sizes ranging from Rs. 10,000 to over Rs. 100 crores, and more than 98% of accounts have a ticket size below Rs. 1 crore. Its AUM grew at a CAGR of ~37.3% during FY23–FY25, reaching Rs. 2,33,363 crores in FY25, highlighting scalability supported by resilient underwriting standards. With ~80% of the book secured and a robust branch network, the company remains well-placed to tap further growth opportunities. The net proceeds from the fresh equity issue will be used to augment Tier-I capital, thereby strengthening the capital adequacy ratio and ensuring a stable leverage position. At the current P/BV multiple of 4.1x based on book value as of FY25, we believe the company is reasonably valued and recommend investors to “SUBSCRIBE” to the issue from a medium- to long-term perspective.

What is the TATA Capital Ltd IPO?

The initial public offer (IPO) of TATA Capital Ltd offers an early investment opportunity in TATA Capital Ltd . A stock market investor can buy TATA Capital Ltd IPO shares by applying in IPO before All TATA Capital Ltd shares get listed at the stock exchanges. An investor could invest in TATA Capital Ltd IPO for short term listing gain or a long term.

To apply for the TATA Capital Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

TATA Capital Ltd IPO is opening on 06th Oct 2025.  Apply Now

The Lot Size of TATA Capital Ltd IPO is 46 equity shares. Login to your account now.

The allotment Date for TATA Capital Ltd IPO is 09th Oct 2025.  Login to your account now.

The listing Date for TATA Capital Ltd IPO is 13th Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,996. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,94,948. Login to your account now

  • Volatility in interest rates affects Tata Capital’s lending and treasury operations, which could cause its earnings and associated key financial metrics to vary. This variation may adversely affect the company’s business, financial condition, results of operations, and cash flows.
  • A downgrade in Tata Capital’s credit ratings could increase its existing and future borrowing costs and adversely affect its access to capital and debt markets. This, in turn, may negatively impact its interest margins, business, results of operations, cash flows, and financial condition. Failure to successfully integrate the operations of, or leverage potential operating and cost efficiencies from, the amalgamation of TMFL with TCL, or other acquisitions and investments undertaken by Tata Capital, may prevent the Company from achieving the expected benefits from such transactions.

The TATA Capital Ltd IPO be credited to the account on allotment date which is 10th Oct 2025. Login to your account now 

The prospectus of TATA Capital Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

Advance Agrolife Ltd IPO : Subscribe

Advance Logo FINAl
  • Date

    30th Sep 2025 - 03rd Oct 2025

  • Price Range

    Rs.95 to Rs.100

  • Minimum Order Quantity

    150

Price Lot Size Issue Date Issue Size
₹95 to ₹100 150 30th Sep, 2025 –03rd Oct, 2025 ₹190 Cr

Advance Agrolife Ltd

Advance Agrolife Ltd. is a fully integrated agrochemical manufacturer with a comprehensive product portfolio spanning the entire crop lifecycle. Its offerings cater to major cereals, vegetables, and horticultural crops across both kharif and rabi seasons in India. As of March 31, 2025, the company obtained 410 generic registrations, comprising 380 formulation grade and 30 technical grade registrations, reflecting a strong product pipeline and regulatory presence in the agrochemical sector. The product mix includes insecticides, herbicides, fungicides, and plant growth regulators, along with complementary categories such as micro-nutrient and bio-fertilizers. The company operates integrated manufacturing facilities for both technical grade agrochemicals (active ingredient/raw form) and formulation grade agrochemicals (finished products with additives), which enhances cost efficiency and supply chain control. Formulations are manufactured in multiple forms, including water dispersible granules (WDG), suspension concentrate (SC), emulsifiable concentrate (EC), capsule suspension, and wettable powder (WP), enabling a broad application range and market adaptability. This diverse product basket, backed by strong technical and formulation capabilities, positions the company competitively within India’s agrochemical industry, providing resilience across crop cycles and varied pest management requirements. The company primarily operates in the domestic market through a B2B model, supplying agrochemical products directly to corporate customers across 19 states and 2 union territories, ensuring strong geographic penetration within India. In addition to its domestic footprint, the company has established an international presence with exports to seven countries including the UAE, Bangladesh, China (including Hong Kong), Turkey, Egypt, Kenya, and Nepal. This combination of a robust domestic distribution base and measured international exposure provides both scale and diversification to its revenue profile.

Objective of the Advance Agrolife Ltd IPO

The company proposes to utilize net proceeds towards funding the following objects:

  • Funding working capital requirements of the company;
  • General corporate purposes.

Rationale To Advance Agrolife Ltd IPO

Integrated manufacturing setup at strategic locations provide competitive advantage

As of 31 March 2025, the company operates three manufacturing facilities located in Jaipur, Rajasthan, with a combined land area of ~49,543 sq.m. and an aggregate installed capacity of 89,900 MTPA. These facilities are equipped with advanced and automated machinery, enabling the production of both technical grade and formulation grade agrochemicals, while ensuring consistency, productivity, and cost efficiency. The company has undertaken strategic restructuring of its manufacturing footprint to enhance operational efficiency and strengthen backward integration. Facility I has been transitioned exclusively to technical grade production, while Formulation activities have been consolidated at Facility II and III. This realignment has streamlined operations, secured in-house raw material supply, and reduced reliance on external vendors. A key milestone was achieved with the commissioning of technical grade agrochemical production at facility I in September 2024. This backward integration not only improves supply chain control and mitigates price volatility risks but also supports self-reliance in sourcing raw materials for downstream formulations. By meeting part of its internal technical grade requirements and creating potential to sell excess capacity externally, the company enhances both cost competitiveness and revenue diversification. Overall, the integrated manufacturing model positions the company strongly to capture demand growth, optimize margins, and build a scalable and resilient production ecosystem. The dual capability of serving internal needs and pursuing external sales opportunities provides a sustainable competitive advantage and supports long term market positioning.

Diversified product portfolio of agrochemical products addresses the entire crop lifecycle

The company operates as a B2B agrochemical manufacturer with an integrated business model covering both technical grade and formulation grade products. Its diversified product portfolio including insecticides, herbicides, fungicides, plant growth regulators, as well as micro-nutrient and bio-fertilizers addresses the entire crop lifecycle. The products cater to a wide spectrum of crops, including cereals, vegetables, and horticultural produce, across both kharif and rabi seasons in India. This comprehensive product mix, supported by integrated manufacturing facilities, position the company as a scalable and resilient player within India’s agrochemical sector. As of the RHP date, the company has secured regulatory approvals for its formulation grade agrochemical products across 13 Indian states, providing a strong platform for geographic expansion and market penetration. This regulatory footprint enhances distribution capability and supports demand generation across multiple agricultural regions. Operationally, the company has demonstrated consistent scale-up in production volumes, manufacturing 44,276.8 MT, 40,021.6 MT, and 34,343.8 MT of Formulation Grade agrochemicals in FY25, FY24, and FY23, respectively. Correspondingly, revenues from Formulation products grew to Rs. 5,019.2 million in FY25 from Rs. 4,553.4 million in FY24 and Rs. 3,970.6 million in FY23. This reflects both rising production capacity utilization and sustained demand for the company’s diversified product portfolio. The combination of regulatory presence, growing volumes, and steady revenue growth underscores the company’s ability to capture market opportunities while maintaining scalability in operations.

Valuation of Advance Agrolife Ltd IPO

The company is a diversified agrochemical manufacturer with a portfolio addressing the full crop lifecycle, catering to cereals, vegetables, and horticultural crops across both kharif and rabi seasons in India. As of March 31, 2025, the company holds 410 generic registrations, comprising 380 for formulation grade and 30 for technical grade products. This broad regulatory base underscore its strong product pipeline, market credibility, and ability to serve a wide spectrum of agricultural needs. The company operates on a B2B model, supplying agrochemical products to corporate customers who market them under their own brands and distribution strategies. This approach allows the company to leverage the established distribution networks, brand equity, and market presence of leading players, ensuring wide penetration across diverse agricultural regions. Through this asset-light marketing model, the company is able to scale efficiently while focusing on manufacturing excellence. The customer base includes marquee names such as DCM Shriram Ltd., IFFCO MC Crop Science Private Limited, Indogulf Cropsciences Ltd., Mankind Agritech Pvt. Ltd., HPM Chemicals and Fertilizers Limited, and ULink AgriTech Pvt. Ltd., among others. The presence of such reputed clients highlights the company’s credibility, quality standards, and long-term demand visibility. During FY23, FY24, FY25, the company served 849, 1,194, and 1,135 corporate customers, respectively. Customers with over 3 years and 5 years of association contributed Rs. 1,951.9 million and Rs. 1,226.2 million to company’s revenue from operations, which represented 38.9% and 24.4% of their total revenue from operations in FY25. India, with 14% of the global crop-protection market, is a key player in boosting agricultural productivity. The demand for chemicals is projected to grow from 61,097 tonnes in FY20 to 89,170 tonnes by FY36. The industry is adopting sustainable practices and innovations, driving food security and reducing agriculture’s ecological impact, solidifying India’s leadership in crop protection. On the financial front, Advance Agrolife Ltd. has delivered strong performance, with revenue from operations growing at a healthy CAGR of 12% between FY23 and FY25, the second highest among its peers. While most competitors witnessed a slight decline in operating profit margins, the company showcased resilience against industry headwinds, expanding its margins from 6.3% in FY23 to 9.5% in FY25.  At the upper price band, the company is valued at a P/E of 18x based on FY25 earnings, which is cheaper compared to the industry average. We believe that the company’s superior return ratios and strong margins, positions it ahead of peers, enabling it to capitalize on structural industry tailwinds and drive sustainable growth. Thus, we recommend a “SUBSCRIBE” rating to the issue from a medium to long-term investment perspective.

What is the Advance Agrolife Ltd IPO?

The initial public offer (IPO) of Advance Agrolife Ltd offers an early investment opportunity in Advance Agrolife Ltd . A stock market investor can buy Advance Agrolife Ltd IPO shares by applying in IPO before All Advance Agrolife Ltd shares get listed at the stock exchanges. An investor could invest in Advance Agrolife Ltd IPO for short term listing gain or a long term.

To apply for the Advance Agrolife Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

Advance Agrolife Ltd IPO is opening on 30th Sep 2025.  Apply Now

The Lot Size of Advance Agrolife Ltd IPO is 150 equity shares. Login to your account now.

The allotment Date for Advance Agrolife Ltd IPO is 06th Oct 2025.  Login to your account now.

The listing Date for Advance Agrolife Ltd IPO is 8th Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 15,000. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,195,000. Login to your account now

  • Any changes in the government policies towards the agriculture sector or a reduction in subsidies and incentives provided to farmers could adversely affect the business and results of operations.
  • The company is exposed to credit risk from its customers and the recovery of trade receivables are very uncertain as the company generally extends the credit period for their customers which increases the credit risk.
  • A major portion of their revenue from operations is dependent upon a limited number of customers, and the loss of any of these customers could have a material adverse effect on the company’s business, financial condition, results of operations and cash flows.

The Advance Agrolife Ltd IPO be credited to the account on allotment date which is 07th Oct 2025. Login to your account now 

The prospectus of Advance Agrolife Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

Om Freight Forwarders Ltd IPO : Avoid

om freght forwarder
  • Date

    29th Sep 2025 - 03rd Oct 2025

  • Price Range

    Rs.128 to Rs.131

  • Minimum Order Quantity

    111

Price Lot Size Issue Date Issue Size
₹ 128 to ₹135 111 29th Sep, 2025 –03rd Oct, 2025 ₹120 Cr

Om Freight Forwarders Ltd

OmFreight Forwarders Limited (OFFL) is a third-generation integrated logistics solutions provider, Headquartered in Mumbai, with its operations consolidated under the current brands since 1995.Over the years, the company has evolved into a full-scale third-party logistics (3PL) service provider, offering end-to-end multimodal solutions spanning sea, air, road, and rail. Its comprehensive portfolio includes international freight forwarding, customs clearance, vessel agency services, warehousing, distribution, and project logistics, allowing customers to engage with a single partner for their entire supply chain. A key area of expertise for OFF Lliesin handling complex and specialized cargoes such as over dimensional (ODC),heavy-lift, breakbulk, sensitive, and dry bulk cargo.The company has successfully managed transportation of high-value and large-scale equipment for sectors including infrastructure, power,oil&gas, and mining, often on a key contract basis. In FY25, FY24, and FY23, it handled cargo volumes of 66.86MMT, 66.78MMT, and 21.06MMT, respectively, demonstrating strong operational capability and scalability. The company operates through a domestic network of 28 branches across India and maintains an international reach spanning more than 800 destinations through alliances with global logistics providers. Its operations follow a hybrid asset strategy, combining 135o owned vehicles and equipment, including trailers, cranes, forklifts, payloaders, tippers, and vessels, with services from 22 logistics partners who supply additional vehicles and resources as required. In FY25, OFFL served over 1,700 customers across diverse industries, including minerals, steel, coal, oil and gas, energy, FMCG, and EPC and infrastructure. Thecompany’s service portfolio covers multimodal transportationviasea, air, road, andrail, supportedby integratedofferings that include freight forwarding, customs clearance, warehousing, distribution, vessel agency, andproject cargo handling.

Objective of the Om Freight Forwarders Ltd IPO

The company proposes to utilise net proceeds from the issue towards the following objects:

  • Funding of capital expenditure requirements of the company related to the acquisition of commercial vehicle and heavy equipment;
  • General corporate purposes.
  • the total issue size of Rs. 1,223 million, Rs. 979 million comprises OFS

Rationale To Om Freight Forwarders Ltd IPO

 Proven track record and diversified client base to strengthen competitive edge

The company combines a long-standing track record in logistics with robust operational standards, validated through ISO certifications in quality (ISO 9001:2015), environmental management (ISO 14001:2015), and occupational health & safety (ISO 45001:2018). The company’s strong customer relationships underpin revenue stability, with over 75% of FY25 revenues coming from repeat clients and several top customers having partnerships exceeding five years. At the same time, OFFL continues to expand its client base, adding 890 new customers in FY25 alone, demonstrating its ability to scale across industries and geographies. While a significant portion of its business comes from minerals, mining, and steel, the company is strategically targeting high-growth sectors such as FMCG, automotive, and oil & gas, offering tailored solutions to diversify its revenue streams. Together, these factors of operational excellence, sticky customer relationships, consistent client acquisition, and targeted sectoral diversification position OFFL to sustain growth and enhance its competitive standing in the logistics industry

Strategic infrastructure expansion and technology integration to drive operational
efficiency and margin growth

OFFL has established a robust in-house logistics infrastructure, underpinned by a diverse fleet of specialized equipment, including cranes, forklifts, trailers, payloaders, tippers, and vessels. As of March 31, 2025, a dedicated team of 134 skilled equipment operators ensures operational readiness, minimizing downtime and maximizing asset performance. The company’s vessel and earthmoving equipment fleets are strategically deployed to handle general cargo, dry bulk commodities, over-dimensional loads, and intra-warehouse transport efficiently, supporting a broad spectrum of client requirements. Technology is a key enabler of OFFL’s operations. The company has invested significantly in advanced logistics and supply chain solutions, including real-time vehicle tracking, end-to-end visibility, route optimisation, inventory management, and integrated client systems. These technological capabilities allow OFFL to enhance operational efficiency, maintain fiscal controls, optimise transit times, and reduce costs, thereby improving client service levels. The company has also developed in-house expertise in areas such as solution consulting, predictive analytics, and infrastructure management to support continued innovation. To strengthen its pan-India logistics network and capture growing demand, OFFL is setting up an additional large-format, multi-user warehouse in Bhiwandi, Maharashtra. Strategically located near the Mumbai Nashik Express Highway, the facility will expand storage capacity, reduce reliance on third-party warehousing, lower operational costs, enhance inventory control, and improve supply chain visibility. Integrated automation and data analytics will further optimise warehouse operations, enabling faster turnaround and higher utilisation rates, while providing scalable value-added services.

Valuation of Om Freight Forwarders Ltd IPO

OFFL serve as a trusted India-based agent, specialising in comprehensive import and export customs clearance services across all major air and seaports in the country. Backed by over four decades of operational and handling expertise, the company seamlessly combines in-depth customs knowledge with advanced information technology. Leveraging its extensive experience and established presence across India’s major ports, OFFL is well positioned to benefit from the expanding trade volumes, increased industrial activity, and growing demand for organised logistics services. OFFL’s ongoing investments in technology enable end-to-end visibility, faster decision-making, and cost optimisation. This technological edge positions the company to serve large clients in high-growth sectors such as FMCG, automotive, e-commerce, and oil & gas, which are increasingly seeking reliable, scalable, and technology-enabled logistics partners. The addition of strategically located, large-format multi-user warehouses, such as the upcoming Bhiwandi facility, allows OFFL to capitalise on the structural shift in India’s logistics sector post-GST, where companies are consolidating inventories into larger, more efficient facilities. By offering value-added services, automation, and proximity to key distribution hubs, OFFL can increase client stickiness, improve turnaround times, and expand volumes handled, directly contributing to revenue growth and margin expansion. On the financial front, the company delivered a tepid performance during FY20xx xx, growing revenue, EBITDA, and PAT at a CAGR of 2.0%, 6.4%, and-10.0%, respectively. EBITDA margin decreased from 7.1% in FY23 to 2.9% in FY24 before improving to 7.7% in FY25, while PAT margin declined from 5.8% in FY23 to 2.5% in FY24 and moderated to 4.5% in FY25. On the return front, the company reported modest ROCE and ROE of 13.7% and 12.7% in FY25, respectively, observing a decline from 20.0% and 19.5% in FY23. While OFFL has demonstrated strengths in integrated logistics, operational capabilities, and client relationships, its financial performance has been inconsistent, reflected in volatility in earnings and margins. Furthermore, near term geopolitical and macroeconomic uncertainties add risk to growth visibility. Additionally, ~80% of the issue comprises an Offer for Sale (OFS). In light of these factors, we remain largely cautious of the listing. We, thus, recommend an AVOID rating for the issue and will reassess our rating in future following sustained business performance in upcoming quarters

What is the Om Freight Forwarders Ltd IPO?

The initial public offer (IPO) of Om Freight Forwarders Ltd offers an early investment opportunity in Om Freight Forwarders Ltd . A stock market investor can buy Om Freight Forwarders Ltd IPO shares by applying in IPO before All Om Freight Forwarders Ltd shares get listed at the stock exchanges. An investor could invest in Om Freight Forwarders Ltd IPO for short term listing gain or a long term.

To apply for the Om Freight Forwarders Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

Om Freight Forwarders Ltd IPO is opening on 29th Sep 2025.  Apply Now

The Lot Size of Om Freight Forwarders Ltd IPO is 111 equity shares. Login to your account now.

The allotment Date for Om Freight Forwarders Ltd IPO is 06th Oct 2025.  Login to your account now.

The listing Date for Om Freight Forwarders Ltd IPO is 8th Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,985. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,194,805. Login to your account now

  • OFFL derives a significant portion of its revenue from customers in Maharashtra, which accounted for over 85% of revenue from operations in FY25. Any adverse developments in this region could materially affect the company’s revenue and overall financial performance.
  • Thecompany is highly prone to geopolitical risks.
  • OFFL does not have long-term agreements with shipping companies, relying instead on relationships built over time. Any disputes or disruptions with these partners could have a material adverse impact on the company’s operations and business performance.

The Om Freight Forwarders Ltd IPO be credited to the account on allotment date which is 08th Oct 2025. Login to your account now 

The prospectus of Om Freight Forwarders Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

Glottis Ltd IPO : Subscribe

Glottis ltd ipo
  • Date

    29th Sep 2025 - 01st Oct 2025

  • Price Range

    Rs.120 to Rs.129

  • Minimum Order Quantity

    114

Price Lot Size Issue Date Issue Size
₹ 120 to ₹129 114 29th Sep, 2025 –01st Oct, 2025 ₹310 Cr

 Glottis Ltd

Glottis Ltd. offers multi-modal integrated logistics solutions, including end-to-end transportation services through ocean, air, and road logistics. Its comprehensive logistics offerings, with multimodal capabilities, cater to diverse industries by optimising the movement of goods across geographies. The company’s services include ocean freight forwarding (project cargo and full container load, both import and export), air freight forwarding (import and export), road transportation, along with ancillary solutions such as warehousing, storage, cargo handling, third-party logistics (3PL), and customs clearance. The company handled ~112,146 TEUs of imports through ocean during FY25. By integrating the services of intermediaries with its in-house infrastructure, Glottis delivers start to finish logistical solutions. Its service offerings, combined with the capabilities of its intermediaries, enable assistance across geographically dispersed locations while modifying operating volumes, optimising loads, and maintaining flexibility to meet customers’ capacity requirements. Glottis has a track record of mobilising large cargo volumes for clients across multiple industries due to its extensive global network of freight forwarding agencies, which provide insights on available carriers, route management, and prevailing freight rates worldwide. This enhances the company’s ability to secure carrier space in advance at competitive prices, ensuring reliable delivery commitments. The company operates PAN-India through eight branch offices located in New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru, and Cochin, with registered and corporate offices in Chennai covering major transportation hubs. Over the years, it has also expanded its operations internationally through arrangements with local freight forwarding agents and continues to explore new markets. With a global footprint and expertise in managing complex supply chains, Glottis serves customers across multiple industries, with a strong focus on energy infrastructure and renewable energy projects. Over the years, the company has built a track record of providing freight forwarding services to diverse industries, including renewable energy, engineering products, home appliances, granite and minerals, timber, agro-products, automobile chemicals, textiles, and machinery. It continues to expand its share of business with existing clients by offering logistics support across their supply chains. Its expertise to handle complex cargo and mobilising large volumes provides Glottis with a competitive edge and has garnered industry recognition.

Objective of the Glottis Ltd IPO

The company proposes to utilize net proceeds from the offer towards the following objects:

  • Funding of capital expenditure requirements of the company towards the purchase of commercial vehicles and containers; and
  • General corporate purposes.

Rationale To Glottis Ltd IPO

 Strategically positioned to benefit from India’s expanding renewable energy sector

With over two decades of experience, Glottis has established itself as one of the leading freight forwarding players in India, particularly in the renewable energy sector’s import and export segment. Providing logistics solutions for specialised products has high entry barriers, such as the ability to achieve large cargo volumes, a reliable and extensive intermediary network, market intelligence, lead time and expenditure for securing advance commitments with shipping lines, and the need to build customer confidence and long-term relationships with intermediaries across geographies. These capabilities can only be developed through a long gestation period, market knowledge, and the ability to forecast and achieve volumes required to attain economies of scale. Over the years, the company has built a specialised customer base comprising power generation and component manufacturing companies in the renewable energy industry. Leveraging its intermediary network, Glottis has executed complex orders involving the transportation of fragile and highly specialised products across the supply chain. With the growing demand for renewable energy, driven by its sustainability, cost-effectiveness, and environmental benefits, the company’s service offerings are complementary to this industry. Therefore, the demand for Glottis’ services is closely linked to the rising demand for renewable energy products. India’s solar energy sector is expected to witness strong growth, with installed capacity projected to expand at a CAGR of 23.8% between FY25 and FY30, supported by favorable market conditions, strategic policy interventions, and technological innovations. Backed by its global presence, strategic locations, and scalable business model, Glottis is well positioned to capitalize on the positive tailwinds in the global renewable energy logistics industry.

Scaled multimodal logistics operations drive growth

With over two decades of operational experience in multimodal logistics services across different verticals, Glottis has developed strong internal intelligence on trade flows and volumes across routes, seasonality impact on volumes and freight across global routes, diverse customer base to enable two-way business with minimum wastage of empty runs for business partners. Glottis offers customised logistics solutions to a wide range of customers and industries across more than 125 countries, supported by a network of eight branch offices as of March 31, 2025. Its focus on quality, providing customised solutions, and timely execution of orders has helped establish and sustain long-term client relationships. Through customer referrals, the company has been able to expand its offerings to new clients in similar industries, further growing its customer base and geographic reach. Owing to its extensive experience, Glottis has executed projects involving the supply chain of critical and sensitive components, including solar panels, solar cells, glass panels, and advanced equipment for manufacturing solar cells, etc. The company has built a track record of executing complex and customised orders, particularly for customers in the renewable energy sector. Additionally, its expertise allows it to gather and study route data for optimisation, enabling cost efficiency for clients while maintaining a scalable and flexible service portfolio.

Valuation of Glottis Ltd IPO

Glottis Ltd. delivers end-to-end logistics solutions with multimodal capabilities across verticals optimizing the movement of goods across geographies, including (i) ocean freight forwarding, (ii) air freight forwarding, (iii) road transportation, along with other ancillary services, such as warehousing, storage, cargo handling, third-party logistics (“3PL”) services and custom clearance, among others. The Indian freight forwarding market has witnessed steady growth, and is expected to reach USD 17 billion by FY29, growing at a CAGR of 10.9% over FY24-29. The Indian ocean freight market is projected to reach USD 13.9 billion by FY29, registering a CAGR of 11.9% over FY24-29. With India’s growing and diversifying economy, the demand for efficient and reliable freight forwarding services continues to rise. Glottis’s expertise in providing comprehensive logistics for specialised products having high entry barriers gives it a competitive edge over unorganized players. The installed capacity of India’s solar energy sector is expected to grow at a CAGR of 23.8% between FY25 and FY30, which will be beneficial for Glottis given its strong presence in the renewable energy sector’s import and export segment. The company’s focus on developing strong internal intelligence, ensuring quality and timely execution, has enabled it to maintain long-standing customer relationships while also acquiring new clients through referrals. Financially, Glottis has delivered a healthy performance, with revenue growing at a CAGR of 40.3%, EBITDA at 53.1%, and PAT at 58.2% over FY2023-25 period. Backed by a strong business model, deep market understanding, and customer retention capabilities, along with favorable industry tailwinds, the company is well positioned for long-term sustainable growth. At the upper price band, the company is valued at a P/E multiple of 18.4x based on FY25 earnings. We, thus, recommend a “SUBSCRIBE” rating for this issue.

What is the Glottis Ltd IPO?

The initial public offer (IPO) of Glottis Ltd offers an early investment opportunity in Glottis Ltd . A stock market investor can buy Glottis Ltd IPO shares by applying in IPO before All Glottis Ltd shares get listed at the stock exchanges. An investor could invest in Glottis Ltd IPO for short term listing gain or a long term.

To apply for the Glottis Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

Glottis Ltd IPO is opening on 29th Sep 2025.  Apply Now

The Lot Size of Glottis Ltd IPO is 114 equity shares. Login to your account now.

The allotment Date for Glottis Ltd IPO is 03rd Oct 2025.  Login to your account now.

The listing Date for Glottis Ltd IPO is 7th Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,705. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,191,178. Login to your account now

  • Thecompany derives the majority of its revenue from the ocean freight (import and export) segment, which has constituted more than 90% of revenue over the past three financial years. The company’s financial condition could be materially and adversely affected if it fails to secure new contracts, renew contracts with existing customers, or if current contracts in this segment are terminated.
  • The company extends post-billing credit terms to its customers and may experience delays in payments even beyond the agreed credit period. Inability to collect receivables from customers in a timely manner, or at all, could adversely impact the company’s business, financial condition, results of operations, and cash flows.
  • Thecompanyrequires third parties to execute a portion of its orders, which presents numerous risks. It relies on its network partners, intermediaries, and vendors/suppliers for certain aspects of operations. Instances of unsatisfactory services by such parties, or the company’s inability to maintain these relationships, could disrupt operations.

The Glottis Ltd IPO be credited to the account on allotment date which is 06th Oct 2025. Login to your account now 

The prospectus of Glottis Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

Fabtech Technologies Ltd IPO : Subscribe

fabtechnologies_logo
  • Date

    29th Sep 2025 - 01st Oct 2025

  • Price Range

    Rs.181 to Rs.191

  • Minimum Order Quantity

    75

Price Lot Size Issue Date Issue Size
₹ 181 to ₹ 191 75 29th Sep, 2025 –01st Oct, 2025 ₹230 Cr

Fabtech Technologies Ltd

Fabtech Technologies Limited is a global turnkey engineering solutions provider headquartered in India, specialising in pharmaceuticals, biotechnology, and healthcare projects. Backed by the 29-year legacy of the Fabtech Group, the company delivers end-to-end solutions for setting up aseptic manufacturing facilities, covering the entire project lifecycle from market analysis, disease profiling, design, engineering, procurement, and logistics to installation, commissioning, and regulatory certification. Incorporated in 2018 following a strategic demerger to enhance operational efficiency, Fabtech has rapidly built a strong track record, completing 51 projects across geographies including Subscribe Saudi Arabia, Egypt, Algeria, Bangladesh, Ethiopia, Sri Lanka, and the UAE, and maintaining a robust order book of Rs. 904 crores as of July 31, 2025. The company operates in over 62 countries, with a significant presence in key emerging economies such as India, Bangladesh, Egypt, Ethiopia, Kenya, Saudi Arabia, Morocco, Nigeria, Turkey, the UAE, and the USA. The company offers both comprehensive greenfield turnkey solutions and standalone services- such as equipment procurement, supply, and commissioning- leveraging its asset-light model, integrated procurement system, and strong contractor network to optimise cost, quality, and execution timelines. Its proprietary digital project management platform, FabAssure, enhances efficiency through real-time monitoring, automation, and escalation mechanisms. With ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications, a team of 94 qualified engineers, and deep regulatory expertise, Fabtech has evolved beyond cleanroom and controlled environment projects to become a preferred partner for pharmaceutical and biotech manufacturers globally. Its strong customer relationships, technological capabilities, and focus on high-margin turnkey solutions position the company to capitalise on the growing global demand for resilient and cost-effective healthcare infrastructure.

Objective of the Fabtech Technologies Ltd IPO

The net proceeds from the fresh issue will be used towards the following purposes:

  • Funding working capital requirements of the company;
  • Pursuing inorganic growth initiatives through acquisitions;
  • General corporate purposes.

Rationale To Fabtech Technologies Ltd IPO

 Aleading turnkey pharma engineering partner with comprehensive service offerings

The company is a key turnkey engineering solutions provider with an established presence in the pharmaceutical capex space and a strong track record of execution. The company offers comprehensive, end-to-end services from disease profiling and feasibility studies to design, engineering, procurement, equipment supplies, installation, testing, commissioning, training, validation, and certification, enabling clients to set up controlled environment pharmaceutical, biotechnology, and healthcare facilities across geographies. Its ability to integrate disease-specific profiling into project planning ensures that new facilities are tailored to the healthcare needs of target markets, thereby enhancing the relevance and commercial viability of client investments. Fabtech’s in-house design and engineering capabilities, combined with its proprietary FabAssure digital project management platform, provide real-time monitoring, cost control, and streamlined execution, driving efficiency and reducing implementation risk. The company’s asset-light model, supported by a strategic network of related entities and third-party suppliers, enhances scalability, improves cash flows, and ensures quality control across equipment procurement and project delivery. With a robust order book and turnkey projects, Fabtech enjoys strong revenue visibility and operating leverage. Its proven execution capabilities, showcased by the completion of 51 projects across key emerging and developed markets such as Saudi Arabia, Egypt, Algeria, Bangladesh, Ethiopia, Sri Lanka, and the UAE, position it to capitalise on the growing global demand for pharmaceutical infrastructure and healthcare investments, particularly in regulated and emerging markets. Backed by its technology-driven approach, integrated procurement system, and deep domain expertise, Fabtech is well-placed to expand its customer base, sustain high-margin turnkey projects, and deliver consistent growth in an industry benefiting from rising healthcare spending and the push for self-reliant pharmaceutical manufacturing globally.

 Asset-light and integrated business model for scalable growth

The company has a scalable, asset-light, and integrated business model that enhances profitability, capital efficiency, and execution capability. By strategically sourcing a majority of critical equipment through Related Entities and third party suppliers on an arm’s-length basis, the company avoids significant capital expenditure on manufacturing facilities or heavy machinery. This approach allows Fabtech to focus resources on high-value activities such as project execution, sales, and marketing, while ensuring strict control over equipment quality, delivery timelines, and cost efficiency. The involvement of Related Entities provides reliable access to key equipment and enables Fabtech to leverage economies of scale, negotiate favorable procurement terms, and maintain consistent quality standards, thereby safeguarding margins and reducing operational risk. Complementing this asset-light procurement strategy is Fabtech’s integrated in house model, which encompasses risk assessment, design and engineering, equipment procurement and supply, quality control, logistics, and project execution teams. This integrated approach allows the company to capture a larger share of the value chain, reduce dependence on external suppliers, and mitigate contractual risks associated with third party delays or quality lapses. Moreover, by partnering with a diverse and reliable network of equipment manufacturers and contractors, Fabtech can flexibly scale its resources in line with project demands, ensuring optimal asset utilisation and sustaining cash-light operations. This business model provides a competitive edge over peers that operate with capital-intensive structures and limited service offerings, positioning Fabtech to expand its turnkey engineering
solutions across geographies.

Valuation of Fabtech Technologies Ltd IPO

Fabtech Technologies Limited is a leading turnkey engineering solutions provider in the pharmaceutical, biotechnology, and healthcare infrastructure space. The company specialises in delivering end-to-end project solutions, including disease profiling, feasibility studies, design and engineering, equipment procurement, installation, testing, and commissioning. With a strong global presence spanning over 62 countries and a particular focus on emerging markets, Fabtech leverages its asset-light, integrated business model to execute projects efficiently while maintaining strict quality and regulatory standards. The company aims to capitalise on its strong project pipeline and global footprint by focusing on scalable, asset-light operations, which reduce capital intensity. The company’s strategy is centered on expanding its turnkey offerings, strengthening customer relationships in emerging markets, and enhancing operational efficiencies through its proprietary project management platform FabAssure. By maintaining close partnerships with related entities and trusted third-party equipment suppliers, Fabtech secures competitive pricing, ensures timely delivery, and minimises execution risks. On the financial front, the company has delivered healthy CAGR growth over FY2023–25 period, with Revenue/EBITDA/PAT CAGR of 29.8%/29.1%/46.2%. The company is well-positioned to capitalise on the structural growth of the pharmaceutical and healthcare infrastructure sector globally. Its focus on emerging economies, combined with its technology-driven project execution capabilities, provides a competitive edge in securing high-value projects. Its asset-light model enables strong cash generation and high operating leverage, while maintaining flexibility to scale operations based on project demand. The company’s order book provides healthy revenue visibility for the coming years, reducing dependency on new client acquisitions in the short term. At the upper price band of Rs 191, the company is valued at a P/E multiple of 13.3x FY25 earnings. We, thus, recommend a“SUBSCRIBE” rating for this issue.

What is the Fabtech Technologies Ltd IPO?

The initial public offer (IPO) of Fabtech Technologies Ltd offers an early investment opportunity in Fabtech Technologies Ltd . A stock market investor can buy Fabtech Technologies Ltd IPO shares by applying in IPO before All Fabtech Technologies Ltd shares get listed at the stock exchanges. An investor could invest in Fabtech Technologies Ltd IPO for short term listing gain or a long term.

To apply for the Fabtech Technologies Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

Fabtech Technologies Ltd IPO is opening on 29th Sep 2025.  Apply Now

The Lot Size of Fabtech Technologies Ltd IPO is 75 equity shares. Login to your account now.

The allotment Date for Fabtech Technologies Ltd IPO is 03rd Oct 2025.  Login to your account now.

The listing Date for Fabtech Technologies Ltd IPO is 7th Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,325. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,86,225. Login to your account now

  • The company has historically converted less than 11% of submitted proposals into actual orders over the past three financial years. A continued inability to generate new leads or convert them into confirmed orders for an extended period could materially and adversely impact its business operations, financial condition, results, growth prospects, and cash flows.
  • The company, due to its limited operating history, may face challenges in competing effectively in the market. Moreover, the absence of an extensive track record makes it difficult to evaluate the company’s business performance and to predict its future operating results based on past performance.
  • Thecompany’s current order book may not reflect its future performance. Projects included in the order book, as well as future projects, could be delayed, altered, or cancelled due to factors beyond the company’s control, which could materially and adversely impact its business, prospects, reputation, profitability, financial condition, and operating results.

The Fabteck Technologies Ltd IPO be credited to the account on allotment date which is 06th Oct 2025. Login to your account now 

The prospectus of Fabteck technologies Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

Pace Digitek Ltd IPO : Subscribe

  • Date

    26th Sep 2025 - 30th Sep 2025

  • Price Range

    Rs.208 to Rs.219

  • Minimum Order Quantity

    68

Price Lot Size Issue Date Issue Size
₹ 208 to ₹ 219 68 26th Sep, 2025 –30th Sep, 2025 ₹839.28 Cr

Pace Digitek Ltd

Pace Digitek Ltd. is a telecom infrastructure solutions provider with a diversified presence across telecom towers, optical fibre cables, and energy management solutions. Its offerings span manufacturing, installation, commissioning, and turnkey operations & maintenance, enabling an integrated presence across the telecom value chain. Revenue is generated from three verticals, telecommunications, energy, and ICT, supported by a strong operational footprint across multiple Indian states such as Maharashtra, Gujarat, Karnataka, Andhra Pradesh, Jammu and Kashmir, Uttarakhand, Assam, Manipur, Arunachal Pradesh, Mizoram, Nagaland, Sikkim, as well as international presence in Myanmar and Africa. The company, which began as an electrical equipment manufacturer for the telecom industry, has progressively scaled into a full-service telecom infra player, with capabilities across products, projects, O&M and solutions. The acquisition of GE Power Electronics India’s business and rights over the Lineage Power brand in FY14 marked its entry into end to end direct current power systems manufacturing for telecom towers, enhancing its positioning in energy management solutions. More recently, through its subsidiary Lineage Power Pvt. Ltd., the company has backward integrated into telecom infra products, strengthening project execution. Additionally, its early entry into solarization of telecom towers (since FY13), including supply and O&M of solar modules and lithium ion battery systems, positions it well to benefit from the sector’s transition towards energy efficient and sustainable infrastructure.

Objective of the PaceDigitek Ltd IPO

The company proposes to utilise net proceeds from the issue towards the following objects:

  • Funding capital expenditure requirement for investment in the company’s subsidiary, Pace Renewable Energies Private Limited, for setting up battery energy storage systems (BESS) for a project awarded by the Maharashtra State Electricity Distribution Company Limited (MSEDCL); and
  • General corporate purposes.

Rationale To PaceDigitek Ltd IPO

End-to-end solutions provider with integrated operations in the telecom tower     sector

The company is positioned as an integrated player in the telecom tower sector. The company started as a manufacturer of equipment for the telecom tower sector and has since transitioned into a full-scale provider of end to end solutions for telecom tower operators. With the evolution of telecom power infrastructure from basic rectifiers and batteries in the 2G era to digitally controlled, hybrid, and grid integrated power systems, the company has aligned its offerings to meet the sector’s shift towards intelligent and sustainable solutions. Its capabilities span turnkey projects for new site rollouts, upgradation of existing sites, and project management across telecom tower and optical fibre segments, while also supplying individual components for such projects. A key differentiator of the business model lies in its holistic approach, integrating product manufacturing, services, and turnkey execution, enabling it to address the full spectrum of telecom infrastructure requirements.

Diversified business segments with strong order book bodes well for growth outlook

The company commenced operations as a manufacturer of electrical equipment for the telecom industry and has since expanded into a full spectrum telecom infrastructure provider, with capabilities spanning products, turnkey projects, O&M, services, and solutions. A key milestone was the 2014 acquisition of GE Power Electronics India’s business and rights over the Lineage Power brand, which enabled end to end manufacturing of direct current (DC) systems tailored for telecom tower operators, strengthening its positioning in energy management solutions. In FY23, the company further backward integrated into telecom infra products through its subsidiary Lineage, enhancing execution efficiency for its projects. Notably, the company has been engaged in solarization of telecom towers since FY13 including supply, installation, commissioning, and O&M of solar modules and related equipment, aligning with the industry’s push towards sustainable energy. In 2021, it diversified into the ICT sector, further broadening its growth avenues. As of March 31, 2025, the company reported a total order book of 76,336 million, compared to Rs. 63,413 million in FY24 and Rs. 91,526 million in FY23. The telecom segment contributed Rs. 35,700 million in FY25, down from Rs. 58,553 million in FY24 and Rs. 87,370 million in FY23, reflecting a decline in tower and optical fibre cable (OFC) orders over the period. Conversely, the energy segment showed strong growth, with the order book expanding significantly to Rs. 40,636 million in FY25, compared to Rs. 3,293 million in FY24 and Rs. 3,486 million in FY23, driven by sizeable Battery Energy Storage Systems (BESS) orders of Rs. 24,700 million and solar project orders of Rs. 24,024 million in FY25. Meanwhile, the ICT segment registered no orders in FY25, after recording Rs. 1,567 million in FY24 and Rs. 670 million in FY23. The company’s diversified order book underscores its ability to address multiple business verticals, while also highlighting the underlying strength and scalability of each segment in contributing to long term growth visibility.

Valuation of PaceDigitek Ltd IPO

Pace Digitek Ltd. positions itself as an integrated telecom infrastructure solutions provider with a strong focus on telecom towers and optical fibre networks. Its service portfolio spans manufacturing, installation, commissioning, and O&M, enabling turnkey solutions such as tower erection and fibre cable laying. Revenue streams are diversified across three verticals, telecommunications, energy, and ICT, supported by a wide operational footprint across key Indian states and select international markets, including Myanmar and Africa. The company, through its subsidiary Lineage, manufactures a wide range of intelligent power interfacing and monitoring systems catering to telecom operators, OEMs, tower and service providers, enterprises, and industrial clients. In FY24, passive telecom infrastructure market size in India was estimated at Rs. 1,650-1,700 billion, and is projected to increase to Rs. 2,000-2,100 billion by FY28. Additionally, the optical fibre EPC industry which was estimated at ~ Rs. 84 billion as of FY24, is expected to grow to Rs. 135-140 billion by FY28. On the financial front, the company delivered a sharp improvement in profitability, with EBITDA margins expanding from 7.9% in FY23 to 20.7% in FY25, the highest in the industry. Further, the PAT registered a remarkable CAGR of 310.9% over FY2023–25 period, significantly outperforming peers and underscoring the company’s strong operating leverage and execution capabilities. The company’s strategic initiatives, including product portfolio expansion, extension of services offerings, and growing geographical reach, are expected to support sustainable growth over the long term. The company is also well positioned to capitalise industry growth trends. On the upper price band, the company is currently valued at a P/E of 13x based on FY25 earnings which is cheaper compared to its peers. Thus, we recommend a “SUBSCRIBE” rating for this issue from a medium to long term perspective.

What is the PaceDigitek Ltd IPO?

The initial public offer (IPO) of PaceDigitek Ltd offers an early investment opportunity in PaceDigitek Ltd . A stock market investor can buy PaceDigitek Ltd IPO shares by applying in IPO before All PaceDigitek Ltd shares get listed at the stock exchanges. An investor could invest in PaceDigitek Ltd IPO for short term listing gain or a long term.

To apply for the PaceDigitek Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

PaceDigitek Ltd IPO is opening on 26th Sep 2025.  Apply Now

The Lot Size of PaceDigitek Ltd IPO is 68 equity shares. Login to your account now.

The allotment Date for PaceDigitek Ltd IPO is 1st Oct 2025.  Login to your account now.

The listing Date for PaceDigitek Ltd IPO is 6th Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,892. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,93,596. Login to your account now

  • The company is heavily dependent on the export market and derives majority of its revenue from the export trading of construction machines. High dependency on export revenues exposes the company to regulatory uncertainty, geopolitical risks, tariff & non-tariff barriers and trade policy volatility. The company’s revenue from operations is dependent upon a limited number of customers, and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on its business.

  • The company is dependent on third-party suppliers, and any disruptions in the supply or an increase in the prices of requisite construction machines could adversely affect its operations

The PaceDigitek Ltd IPO be credited to the account on allotment date which is 1st Oct 2025. Login to your account now 

The prospectus of PaceDigitek Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

Trualt Bioenergy Ltd IPO : Subscribe

  • Date

    25th Sep 2025 - 29th Sep 2025

  • Price Range

    Rs.472 to Rs.496

  • Minimum Order Quantity

    30

Price Lot Size Issue Date Issue Size
₹ 472 to ₹ 496 30 25th Sep, 2025 –29th Sep, 2025 ₹839.28 Cr

Trualt Bioenergy Ltd

Trualt Bioenergy Ltd. is one of India’s largest and most diversified biofuels producers, with a leading position in the ethanol segment and an installed capacity of 2,000 KLPD (operational capacity of 1,800 KLPD) as of March 31, 2025, representing a 3.6% market share in ethanol production (Source: CRISIL Report). It operates five distilleries in Karnataka and plans to convert 1,300 KLPD of mono-feed capacity to dual-feed (grain-based) by March 2026, while progressively scaling operations to the full 2,000 KLPD capacity. The company also produces extra neutral alcohol, dry ice, and liquid CO₂ as by-products. Through its subsidiary Leafiniti, it is among the early producers of compressed biogas (CBG) under the SATAT scheme and is expanding CBG capacity through strategic tie-ups, including a shareholding agreement with GAIL and partnerships with global players such as Sumitomo Corporation and Japanese entities to set up multiple CBG plants and explore carbon credit opportunities. Future growth avenues include second-generation (2G) ethanol production using bagasse, sustainable aviation fuel (SAF) with a planned capacity of 10 crore litres annually, and production of high-value biochemicals such as Mevalonolactone (MVL). The company also operates five biofuel dispensing stations in Karnataka and has received government approval to market motor spirit and high-speed diesel, positioning it as a private OMC with plans to set up 100 retail outlets offering ethanol blends, bio-CNG, EV charging, and non-fuel retail services. Aligned with key government initiatives like the National Biofuels Policy 2018, Ethanol Blending Program, SATAT, and PLI schemes, the company benefits from multiple incentives, supporting its transition-focused green energy model and reinforcing its leadership in India’s rapidly growing bioenergy sector.

Objective of the Trualt Bioenergy Ltd IPO

The net proceeds from the fresh issue will be used towards the following purposes:

  • Funding capital expenditure towards setting up multi-feed stock operations to pave-way for utilizing grains as an additional raw material in ethanol plants at TBL Unit 4 of 300KLPD capacity;
  • Funding our working capital requirements; and
  • General corporate purposes.

Rationale To Trualt Bioenergy Ltd IPO

India’s largest ethanol producer by installed capacity provides a competitive advantage

The company is India’s largest ethanol producer by installed capacity, with a well-defined strategy for capacity expansion, feedstock diversification, and product innovation that positions it at the forefront of India’s biofuels growth story. It has demonstrated exceptional growth since its incorporation in 2021, when it entered the ethanol industry through strategic acquisitions, expanding from a combined installed capacity of just 590 KLPD in FY22 to 2,000 KLPD in FY25, aided by strategic acquisitions and capacity expansions. Backed by strong government support through interest subvention schemes and approvals to expand manufacturing capabilities to 4,600 KLPD, the company is positioned to benefit from India’s Ethanol Blending Program and rising demand for non-fossil fuels. Having recently completed a 600 KLPD capacity expansion across three locations, the company targets further enhancement of its feedstock flexibility by converting 1,300 KLPD of its existing mono-feed (molasses/sugar syrup/sugarcane juice) capacity into dual-feed facilities capable of processing grain-based raw materials by FY26. This feedstock diversification reduces dependency on sugarcane-based inputs, helps manage seasonal fluctuations, and optimises production based on price dynamics across multiple feedstocks. Furthermore, the company plans to integrate a 200 KLPD unit for second-generation (2G) ethanol production using 800,000 MT of bagasse from promoter group companies, offering additional cost and supply flexibility while enhancing sustainability. The company believes that its large installed ethanol production capacity, combined with a well-structured expansion strategy focused on diversifying its raw material base and developing additional sustainable energy solutions, provides a strong competitive advantage to capitalise on the significant growth opportunities in the ethanol and biofuels sector.

Poised to capitalise on strong biofuel industry tailwinds including favorable government policies and demand-supply gap

The company is well-positioned to capitalise on strong industry tailwinds driven by India’s accelerating shift toward biofuels, braced by government incentives, favourable policies, and rising demand for sustainable energy. The domestic biofuel market, dominated by ethanol and complemented by compressed biogas (CBG) and biodiesel, is expected to see significant growth, with the Indian biogas market alone projected to reach USD 2.25 bn by 2029, at a CAGR of 6.3% between 2022 and 2029 (Source: CRISIL Report). As a leading producer of both ethanol and CBG, the company stands to benefit from multiple policy initiatives, including the Ethanol Blended Petrol (EBP) program, which promotes ethanol blending to reduce fossil fuel dependence and incentivises production through interest subvention schemes, excise duty exemptions, production-linked incentives, and a growing market for CBG producers. Through its subsidiary, the company is among the first movers in the CBG space and is rapidly expanding capacity with multiple upcoming plants, further supported by authorisation to sell fermented organic manure (FOM) directly to farmers. Backed by these structural growth drivers, regulatory incentives, and a robust expansion pipeline, the company is strategically positioned to strengthen its leadership in ethanol and CBG space, bridge the demand-supply gap in India’s biofuel market, and deliver sustained long-term growth. 

Valuation of Trualt Bioenergy Ltd IPO

TruAlt Bioenergy Limited operates five distillery units in Karnataka, producing ethanol primarily from molasses and sugar syrup, along with by-products such as extra neutral alcohol (ENA), dry ice, and liquid CO₂. With a diversified portfolio that spans ethanol, CBG, and plans for sustainable aviation fuel (SAF), second-generation (2G) ethanol, and high-value biochemicals like Mevalonolactone (MVL), the company benefits from strong policy support, including the National Biofuels Policy 2018, the Ethanol Blending Program, and various state and central government incentives. The company is centred around scaling capacity, diversifying feedstock, and expanding into high-value green energy solutions. By FY26, the company aims to convert 1,300 KLPD of its existing mono-feed ethanol capacity to dual-feed, enabling production from both grain-based and sugarcane-based feedstocks. The company has also received approvals to expand its ethanol manufacturing capacity to 4,600 KLPD and plans to integrate a 200 KLPD unit for 2G ethanol production using 800,000 MT of bagasse.  On the financial front, the company has delivered healthy CAGR growth over FY2023–25 period, with Revenue/EBITDA/PAT CAGR of 58.2%/71.5%/66.0%. Overall, the company’s strong capacity base, diversified feedstock strategy, and entry into new biofuel verticals provide significant growth visibility. India’s ethanol blending targets, mandatory CBG blending initiatives, and the expected demand for SAF driven by global carbon reduction requirements create a favourable market environment. At the upper price band of Rs. 496 per share, the company is valued at a P/E multiple of 23.7x FY25 earnings. We, thus, recommend a “SUBSCRIBE” rating for this issue.

What is the Trualt Bioenergy Ltd IPO?

The initial public offer (IPO) of Trualt Bioenergy Ltd offers an early investment opportunity in Trualt Bioenergy Ltd . A stock market investor can buy Trualt Bioenergy Ltd IPO shares by applying in IPO before All Trualt Bioenergy Ltd shares get listed at the stock exchanges. An investor could invest in Trualt Bioenergy Ltd IPO for short term listing gain or a long term.

To apply for the Trualt Bioenergy Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

Trualt Bioenergy Ltd IPO is opening on 25th Sep 2025.  Apply Now

The Lot Size of Trualt Bioenergy Ltd IPO is 30 equity shares. Login to your account now.

The allotment Date for Trualt Bioenergy Ltd IPO is 30th Sep 2025.  Login to your account now.

The listing Date for Trualt Bioenergy Ltd IPO is 3rd Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,880. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,93,440. Login to your account now

  • The company is heavily dependent on the export market and derives majority of its revenue from the export trading of construction machines. High dependency on export revenues exposes the company to regulatory uncertainty, geopolitical risks, tariff & non-tariff barriers and trade policy volatility. The company’s revenue from operations is dependent upon a limited number of customers, and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on its business.

  • The company is dependent on third-party suppliers, and any disruptions in the supply or an increase in the prices of requisite construction machines could adversely affect its operations

The Trualt Bioenergy Ltd IPO be credited to the account on allotment date which is 03rd Oct 2025. Login to your account now 

The prospectus of Trualt Bioenergy Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

Jinkushal Industries Ltd IPO : Subscribe

  • Date

    25th Sep 2025 - 29th Sep 2025

  • Price Range

    Rs.115 to Rs.121

  • Minimum Order Quantity

    120

Price Lot Size Issue Date Issue Size
₹ 115 to ₹ 121 120 25th Sep, 2025 –29th Sep, 2025 ₹116.15 Cr

Jinkushal Industries Ltd

Jinkushal Industries Limited (JIL) is engaged in export trading of new/customised and used/refurbished construction machines in global markets. As per the CareEdge Report, JKIPL is the largest non-OEM construction machine exporter with a 6.9% market share. The company primarily operates across three primary business verticals: (i) export trading of customised, modified and accessorised new construction machines; (ii) export trading of used/refurbished construction machines; and (iii) export trading of our own brand ‘HexL’ construction machines (presently in the category of backhoe loaders) to cater a diverse international customer base. In addition, JIL also derives a small portion of revenue from (i) logistics warehouses leasing; (ii) renting of construction machines. The company specialises in the export trading of construction machines such as hydraulic excavators, motor graders, backhoe loaders, soil compactors, wheel loaders, bulldozers, cranes, and asphalt pavers. As on date, JIL has carried out export trading of refurbished, customised, modified, accessorised new and used construction machines to over thirty countries across the globe, largely to various overseas wholesale buyers, distributors, importers and some end users, including construction and rental companies. During the last three fiscals, the company has exported to over ten countries, including Mexico, UAE, Australia, Netherlands, UK, etc. As per the RHP, JIL has successfully supplied over 1,500 construction machines, comprising over 900 new (with customisation, modified or accessorised) and over 600 used/refurbished construction machines. In the period between FY23 and FY25, the company has supplied over 1,249 construction machines, comprising over 928 new (with customisation or accessorised) and over 366 used/refurbished construction machines. The company derives a significant portion of its revenue from exports (99.2% as of FY25).

Objective of the Jinkushal Industries Ltd IPO

  • The company proposes to utilise net proceeds from the issue towards the following objects:
  • To meet long-term incremental working capital requirements; and
  • General corporate purposes. Out of the total issue size of Rs. 1,162 million, Rs. 116 million comprises OFS.

Rationale To Jinkushal Industries Ltd IPO

Strong market position and a diversified market presence to support sustainable growth

JIL has established itself as the largest non-OEM construction equipment exporter from India with a 6.9% market share, underlining its leadership and credibility in the sector. Recognition as a Three-Star Export House by the Directorate General of Foreign Trade (DGFT) further reinforces its strong compliance and trust in global trade. The company’s international operations are anchored by its subsidiary, Hexco Global FZCO in the UAE, and supported by a step-down subsidiary in the USA, providing strategic access to key global markets. The UAE base offers distinct advantages through favourable trade policies, superior logistics, and prime geographical positioning, enabling JIL to efficiently manage exports, optimise supply chains, and expand its customer base across diverse geographies. JIL’s business model is built on diversification across both geography and product categories, reducing dependence on any single market or machine type. The company offers a wide range of construction equipment, including hydraulic excavators, backhoe loaders, motor graders, soil compactors, wheel loaders, bulldozers, cranes, and pavers through a mix of new customised machines, refurbished used equipment, and its own branded offerings. This breadth not only enhances customer retention but also strengthens cross-selling opportunities across segments. Further, JIL imports equipment from markets such as China and the UAE to ensure supply continuity, maintain quality standards, and provide variety in line with customer preferences. Its expertise in refurbishment and value addition enhances machine usability, minimises waste, and promotes cost-effective solutions aligned with sustainable practices. Taken together, JIL’s strong market position, diversified portfolio, and global presence provide a solid foundation for sustainable growth.

Strategic product-driven approach to business model broadens growth horizon

JIL’s launch of HexL, its own brand of construction machines, represents a strategic shift from a trading-led model to a product-driven, customer-centric business approach. By leveraging contract manufacturing arrangements, HexL machines are produced according to JIL’s specifications, technical requirements, and quality standards, while enabling flexible production capacity without the capital intensity of owning manufacturing facilities. Through frequent quality checks and oversight at partner facilities, JIL ensures adherence to predefined standards, strengthens operational efficiency, and maintains consistent product performance. This hands-on approach reinforces the company’s market positioning, builds credibility, and ensures HexL machines meet both industry requirements and customer expectations. The introduction of a branded product line allows JIL to utilize existing distribution channels, standardize machine specifications, and establish a direct market presence, deepening engagement with customers and suppliers alike. By controlling the end-to-end supply and quality assurance, JIL can differentiate its offerings, expand product reach across domestic and international markets, and support long-term business continuity. Early traction is evident, with 40 HexL-branded backhoe loaders already supplied, demonstrating initial market acceptance since its launch in December 2024.

Valuation of Jinkushal Industries Ltd IPO

JIL is a leading provider of construction machines, specialising in both new and refurbished equipment. The company has evolved from a trading-led model into a more product-driven, customer-centric business, recently launching its own brand, HexL, to strengthen market presence and operational control. Leveraging a robust supply chain, refurbishment capabilities, and a wide distribution network, JIL serves domestic and international markets with high-quality, ready-to-use machines. Its diversified offerings and agile operations enable timely delivery, cost efficiency, and adherence to industry standards. The company’s strategic initiatives, including supply chain integration and diversification, expansion of HexL and other branded products, operational efficiency improvements, product portfolio expansion (including electric machines), brand-building, and working capital optimisation, are expected to drive revenue growth, enhance margins, and improve cash flow visibility over the medium term. Financially, the company delivered a healthy performance, growing revenue, EBITDA, and PAT at a CAGR of 27.7%, 16.5%, and 37.5%, respectively, during the FY2023-25 period. EBITDA and PAT margins remained largely stable over the period, with a notable spike in FY24 driven by lower purchase costs and reduced miscellaneous expenses. Specifically, EBITDA margin increased from 6.1% in FY23 to 9.8% in FY24 before normalising to 6.1% in FY25, while PAT margin rose from 4.3% in FY23 to 7.8% in FY24 and moderated to 5.0% in FY25. On the return front, the company reported robust ROCE and ROE of 15.2% and 20.5%, respectively, observing a decline from 33.4% and 41.3% in FY23.

What is the Jinkushal Industries Ltd IPO?

The initial public offer (IPO) of Jinkushal Industries Ltd offers an early investment opportunity in Jinkushal Industries Ltd . A stock market investor can buy Jinkushal Industries Ltd IPO shares by applying in IPO before All Jinkushal Industries Ltd shares get listed at the stock exchanges. An investor could invest in Jinkushal Industries Ltd IPO for short term listing gain or a long term.

To apply for the Jinkushal Industries Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

Jinkushal Industries Ltd IPO is opening on 25th Sep 2025.  Apply Now

The Lot Size of Jinkushal Industries Ltd IPO is 120 equity shares. Login to your account now.

The allotment Date for Jinkushal Industries Ltd IPO is 30th Sep 2025.  Login to your account now.

The listing Date for Jinkushal Industries Ltd IPO is 3rd Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,520. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,88,760. Login to your account now

  • The company is heavily dependent on the export market and derives majority of its revenue from the export trading of construction machines. High dependency on export revenues exposes the company to regulatory uncertainty, geopolitical risks, tariff & non-tariff barriers and trade policy volatility. The company’s revenue from operations is dependent upon a limited number of customers, and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on its business.

  • The company is dependent on third-party suppliers, and any disruptions in the supply or an increase in the prices of requisite construction machines could adversely affect its operations

The Jinkushal Industries Ltd IPO be credited to the account on allotment date which is 03rd Oct 2025. Login to your account now 

The prospectus of Jinkushal Industries Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

BMW Venture Ltd IPO : Subscribe

  • Date

    24th Sep 2025 - 26th Sep 2025

  • Price Range

    Rs.94 to Rs.99

  • Minimum Order Quantity

    151

Price Lot Size Issue Date Issue Size
₹ 94 to ₹ 99 151 24th Sep, 2025 –26th Sep, 2025 ₹231.66 Cr

BMW Venture Ltd

BMW Ventures Ltd. is a diversified player engaged in the trading and distribution of steel products, tractor engines and spare parts, manufacturing of PVC pipes and roll forming, and fabrication of pre-engineered buildings (PEB) and steel girders. Over the years, it has built a strong dealer and distributorship network across Bihar, supported by a business model focused on delivering high-quality products and ensuring timely deliveries. Its core steel distribution business, sourced exclusively from a primary supplier, contributes over 98% of revenue and is supported by a strong network of 1,299 dealers covering 29 of the 38 districts in Bihar. The product portfolio includes long products such as TMT bars, galvanized wires, and structural hollow sections, along with flat products like galvanized corrugated sheets (GC), galvanized plain sheets (GP), hot rolled sheets and coils (HR), colour-coated sheets, and cold rolled sheets and coils (CR), as well as farm tools, equipment, and steel doors and windows. Other segments include tractor engine distribution, PVC manufacturing, and fabrication services, which together contribute a small but growing share of revenue. Leveraging over two decades of market experience, the company operates six strategically located stockyards equipped for fabrication, storage, and distribution, ensuring timely deliveries and efficient supply chain management. With in-house and third-party logistics support, RDSO-approved fabrication capabilities, and a strong dealer network, the company has established itself as a leading steel distribution and fabrication player in Bihar, serving key sectors such as construction, automotive, and general engineering.

Objective of the BMW Ventures Ltd IPO

The net proceeds from the fresh issue will be used towards the following purposes:

  • To carry out the Offer for Sale;
  • General corporate purposes.

Rationale To BMW Ventures Ltd IPO

Strong industry alliances and robust distribution network driving sustainable growth

The company’s strong relationships with established players across key industries such as agriculture and real estate provide a competitive advantage. By partnering with reputed and large-scale customers in these sectors, the company ensures consistent demand for its products and enhances its credibility and brand recognition within the market. These industry linkages provide greater business visibility, enable the company to offer tailored solutions to diverse customer needs, and help secure repeat orders, which create a stable and scalable revenue base. This extensive and loyal clientele demonstrates the company’s ability to cater to multiple end-user segments, reducing dependency on any single industry and supporting long-term growth. Complementing these industry relationships is a well-established selling and distribution network that forms the backbone of the company’s operations. With a focused presence in Bihar, the company markets and distributes a broad portfolio of steel products, tractor engines, spare parts, PVC pipes, and fabricated goods through a dual strategy of direct customer engagement and dealer partnerships. As of March 31, 2025, a dedicated team of 124 marketing and sales professionals, guided by the extensive industry experience of the Promoter and Managing Director, ensures effective execution of marketing initiatives and drives revenue growth. The integration of strong industry relationships, an expansive distribution network, and experienced leadership creates a durable business model capable of capturing rising demand in construction, infrastructure, agriculture, and real estate sectors. This ecosystem facilitates consistent revenue growth, enhances the company’s ability to introduce new products, expand its market footprint, and defend its leadership position in the highly competitive steel distribution and fabrication market of Bihar.

Market leadership in Bihar’s growing steel distribution and fabrication market a key advantage

The company holds a strong market leadership position in Bihar steel trading industry, contributing ~ 19% of the TMT bars market in the state as of FY24, according to the CRISIL Report. The remaining 81% of the market is shared among other distributors such as Kamdhenu, Balmukund, and Captain, underscoring the company’s dominant presence and competitive edge in a fragmented market. This leadership has been achieved through a strategic combination of innovation, high product quality, competitive pricing, and superior customer service. The company continuously invests in quality control and operational processes to ensure reliable, high-grade products that meet or exceed customer expectations, while maintaining a customer-centric approach with timely deliveries, responsive support, and customised solutions. A key factor reinforcing this market position is the company’s exclusive distributorship of both long and flat steel products from its primary supplier since its inception. This long-standing relationship provides a secure and consistent supply base, enabling the company to serve a vast clientele of over 1,250 dealers and institutional buyers across Bihar. The company’s deep market insights and strategic vision have guided its steady growth, helping it expand its presence in existing markets and explore untapped regions. Overall, the company combines robust market share, exclusive supplier partnership, and operational excellence to sustain its competitive edge, drive consistent revenue growth, and capitalise on emerging opportunities in Bihar’s growing steel distribution and fabrication market. 

Valuation of BMW Ventures Ltd IPO

The company enjoys a dominant ~19% share in Bihar’s TMT bars market, with an exclusive distributorship arrangement for both long and flat steel products from its primary supplier, ensuring a steady and reliable supply base. Its strong market position is further reinforced by a diversified product portfolio and an extensive distribution network of over 1,250 dealers, providing visibility for sustained revenue growth and margin stability. The company plans to expand its distribution footprint across additional districts in Bihar, leveraging its advantage as the sole distributor of its primary supplier in the state. Operationally, the company continues to invest in quality control and process enhancements to deliver high-grade products that consistently meet customer expectations, while maintaining a customer-centric approach with timely deliveries, responsive support, and customised solutions. On the financial front, the company has delivered healthy CAGR growth over FY2023–25 period, with Revenue/EBITDA CAGR of 1.2%/12.5%.  With experienced promoters, skilled workforce and secured supply chain, the company is well-positioned to capture incremental market share, maintain competitive pricing, and deliver healthy earnings growth. Overall, the company’s positive long-term growth trajectory is driven by strong market positioning, exclusive supplier relationships, and consistent revenue performance. At the upper price band of Rs 99, the company is valued at a P/E multiple of 19.1x FY25 earnings. We, thus, recommend a “SUBSCRIBE” rating for this issue.

What is the BMW Ventures Ltd IPO?

The initial public offer (IPO) of BMW Ventures Ltd offers an early investment opportunity in BMW Ventures Ltd . A stock market investor can buy BMW Ventures Ltd IPO shares by applying in IPO before All BMW Ventures Ltd shares get listed at the stock exchanges. An investor could invest in BMW Ventures Ltd IPO for short term listing gain or a long term.

To apply for the BMW Ventures Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

BMW Ventures Ltd IPO is opening on 24th Sep 2025.  Apply Now

The Lot Size of BMW Ventures Ltd IPO is 151 equity shares. Login to your account now.

The allotment Date for BMW Ventures Ltd IPO is 29th Sep 2025.  Login to your account now.

The listing Date for BMW Ventures Ltd IPO is 1st Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,949. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,94,337. Login to your account now

  • Company relies on select suppliers with whom it has exclusive distributorships or formal agreements for the procurement and sale of its steel and tractor products. Any disruption in the supply from these key partners could adversely impact business operations, affecting product availability, revenue, and profitability.

  • The company derives over 98% of its revenue from Bihar, with all manufacturing, fabrication facilities, and stockyards located within the state. Consequently, any adverse social, political, or natural developments in Bihar could significantly disrupt operations and negatively impact revenue and overall financial performance.

  • A significant portion of the company’s revenue comes from the distribution of long and flat steel products. Any decline in demand for these products could materially affect the company’s business, financial condition, results of operations, and cash flows.

The BMW Ventures Ltd IPO be credited to the account on allotment date which is 29th Sep 2025. Login to your account now 

The prospectus of BMW Ventures Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE

Epack Prefab Technologies Ltd IPO : Subscribe

  • Date

    24th Sep 2025 - 26th Sep 2025

  • Price Range

    Rs.194 to Rs.204

  • Minimum Order Quantity

    73

Price Lot Size Issue Date Issue Size
₹ 194 to ₹ 204 73 24th Sep, 2025 –26th Sep, 2025 ₹1250.00 Cr

Epack Prefab Technologies Ltd

Incorporated in 1999, Epack Pre-fab Technologies Ltd. has built a legacy of over 25 years and currently operates across two key business verticals. The first is the pre-fab business and the second is the EPS packaging business. The company’s pre-fab business offers a comprehensive portfolio of solutions including pre-engineered steel buildings, modular structures, light gauge steel frames (LGSF), sandwich insulated panels, and other standardized modular products. The company has the third largest production capacity in the pre-engineered steel building (PEB) industry. It also executes turnkey projects, covering the full value chain from estimation, design, and engineering to manufacturing, transportation, installation, and on site erection. As of March 31, 2025, the company operates three strategically located manufacturing facilities at Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh), with a combined installed capacity of 1,26,546 MTPA for pre-engineered buildings and 5,10,000 SQM for sandwich insulated panels. The company’s EPS Packaging Business focuses on manufacturing and supplying a diversified range of EPS block molded and shape molded products, including EPS sheets, packaging boxes for electronic goods, and customized hand-molded solutions. The company markets its pre-fab solutions under the ‘EPACK PREFAB’ brand and its EPS packaging products under ‘EPACK PACKAGING’, thereby establishing distinct brand positioning across both business verticals. The company has demonstrated strong execution capabilities, highlighted by its recognition in the “Golden Book of World Records” for the fastest erection of a pre-engineered factory building at Mambattu, Andhra Pradesh. Such accolades reinforce its project delivery efficiency and operational expertise.

Objective of the Epack Prefab Technologies Ltd IPO

The company proposes to utilize net proceeds towards funding the following objects:

  • Financing capital expenditure requirements for setting up a new manufacturing facility at Ghiloth Industrial Area, Shahjahanpur, Alwar in Rajasthan for manufacturing of continuous Sandwich Insulated Panels and pre-engineered steel building (“Project”);
  • Financing the capital expenditure towards expansion of existing manufacturing facility at Mambattu (Unit 4) in Andhra Pradesh for increasing the pre-engineered steel building capacity;
  • Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company; and
  • General corporate purposes..

Rationale To Epack Prefab Technologies Ltd IPO

Strong and diverse market presence with comprehensive offerings in the growing pre-engineered steel buildings industry

The company is the third largest player in India’s pre-engineered steel building (PEB) industry by installed capacity. The company’s pre-fab business revenues grew at a robust CAGR of 55.5% between FY2022 and FY2024, significantly outpacing the broader industry. The company has established a pan India presence, having executed pre-fab projects across 30 states and Union Territories. This wide geographic footprint, coupled with exposure to multiple end-use industries, reduces reliance on any single region or sector. Such diversification not only enhances revenue stability but also provides resilience against cyclical demand fluctuations and region-specific slowdowns, positioning the company to capture opportunities across varied markets. The company showcased its superior execution capabilities by completing a 1,50,000 sq. ft. pre-engineered factory building at Mambattu (Andhra Pradesh) within a record 150 hours, earning recognition from the Golden Book of World Records. This achievement highlights the company’s ability to leverage its pre-engineered steel building technology to deliver large scale projects under stringent timelines, reinforcing its competitive edge in speed, efficiency, and reliability.

Strategically located manufacturing facilities coupled with comprehensive in-house design and engineering capabilities aid cost optimization

As of March 31, 2025, the company operates three manufacturing facilities for its pre-fab business located at Greater Noida (Uttar Pradesh), Ghiloth (Rajasthan), and Mambattu (Andhra Pradesh), along with one facility for the EPS packaging business at Greater Noida. The facilities are strategically positioned to ensure pan India coverage which are Northern, Eastern, and Central India through Unit 2 (pre-fab) and Unit 1 (EPS packaging), northern and western regions through Unit 3 (pre-fab), and Southern and Western markets through Unit 4 (pre-fab). The geographic spread, with proximity to customer clusters, enables the company to reduce logistics costs, ensure faster delivery, and maintain strong customer relationships. This location advantage enhances operational efficiency, flexibility, and inventory management, while supporting long term client retention and repeat business. As of March 31, 2025, the company had an aggregate installed capacity of 1,33,922 MTPA in its pre-fab business, positioning it as the third largest player in India’s PEB industry. The EPS packaging business, with an annual installed capacity of 8,400 MTPA, contributed 16% of total revenue in FY25. The company operates three in house design and detailing centres located at Greater Noida, Vishakhapatnam, and Hyderabad, staffed with 97 engineers and design professionals. These centres strengthen its ability to deliver end to end solutions, from conceptualization to execution, while enabling continuous process and design improvements that drive cost efficiencies. 

Valuation of Epack Prefab Technologies Ltd IPO

Epack Pre-fab Technologies Ltd., incorporated in 1999, has built a legacy of over 25 years and currently operates through two distinct business verticals. The pre-fab business offers end to end turnkey solutions encompassing design, manufacturing, installation, and erection of pre-engineered steel buildings and pre-fabricated structures, catering to both domestic and overseas markets. Complementing this, the EPS packaging business focuses on the manufacturing of expanded polystyrene (EPS) sheets, blocks, and shape molded products, serving a diversified customer base across industries such as construction, packaging, and consumer goods in India. This dual vertical structure enables the company to leverage synergies between industrial solutions and packaging applications, thereby enhancing revenue visibility and business resilience. The company is fastest growing company in terms of revenue from operations, registering a CAGR of 41.8% during FY2022-24 period. The company plans to setup manufacturing facility at Ghiloth (Rajasthan), which would add the capacity of 8,00,000 SQM for manufacturing continuous sandwich insulated panel, which would help them to capture the market share by providing long span pre-fab building and newer end use industries like cold storages and clean rooms. As of FY25, the Indian pre-fabricated market was estimated around Rs. 47,500 crores and is projected to register a CAGR of 9-11% during FY2025-30 period to reach around Rs. 75,000 crores by FY30. On the financial front, the company registered a healthy 56.5% CAGR in EBITDA between FY22 and FY24. The company delivered robust ROE of 29.1% and ROCE of 27.2% in FY24. While these metrics moderated in FY25 to 22.7% and 22.9%, respectively, the company continued to maintain a leading position within the industry. At the upper price band, the company is valued at a P/E of 28x based on FY25 earnings, broadly in line with industry averages. We believe that the company’s superior return ratios, strong operating margins, and ongoing expansion initiatives position it ahead of peers, enabling it to capitalize on structural industry tailwinds and drive sustainable growth. Thus, we recommend a “SUBSCRIBE” rating to the issue from a medium to long-term investment perspective.

What is the Epack Prefab Technologies Ltd IPO?

The initial public offer (IPO) of Epack Prefab Technologies Ltd offers an early investment opportunity in Epack Prefab Technologies Ltd . A stock market investor can buy Epack Prefab Technologies Ltd IPO shares by applying in IPO before All Epack Prefab Technologies Ltd shares get listed at the stock exchanges. An investor could invest in Epack Prefab Technologies Ltd IPO for short term listing gain or a long term.

To apply for the Epack Prefab Technologies Ltd IPO through StoxBox one can apply from the website and also from the app. Click here

Epack Prefab Technologies Ltd IPO is opening on 24th Sep 2025.  Apply Now

The Lot Size of Epack Prefab Technologies Ltd IPO is 73 equity shares. Login to your account now.

The allotment Date for Epack Prefab Technologies Ltd IPO is 29th Sep 2025.  Login to your account now.

The listing Date for Epack Prefab Technologies Ltd IPO is 1st Oct 2025.  Login to your account now

In the Retail segment the minimum investment required is Rs. 14,892. Login to your account now

 In the Retail segment the maximum investment requirement is Rs. 1,93,596. Login to your account now

  • UP Pollution Control Board has filed a complaint against the company under Section 14(2) of the commission for Air Quality Management in National Capital Region and Adjoining Areas Act, 2021 (“Air Act”) for non-compliance of directions under the Air Act. In case, the said complaint is decided against the company, it may impact the company’s EPS packaging business.

  • The company is majorly dependent on top ten customers for its EPS packaging business. Loss of any major customer may impact revenue from the EPS packaging business segment. The company’s registered office and all manufacturing facilities are located on leased land. The company is yet to execute a formal sale deed with respect to the land situated at Mambattu (Andhra Pradesh) where they intend to expand their existing manufacturing facility. If the company is not able to comply with conditions of use of such land, they may have to relocate their operations which may have an adverse impact on its business, results of operations, financial condition and cash flows.

The Epack Prefab Technologies Ltd IPO be credited to the account on allotment date which is 29th Sep 2025. Login to your account now 

The prospectus of Epack Prefab Technologies Ltd IPO prospectus can be find on the website of SEBI, NSE and BSE