ICICI Prudential AMC, Annu Projects, Technocraft Ventures & Powerica get SEBI nod for IPOs

Four Indian Companies Receive SEBI Approval for Initial Public Offerings (IPOs)

Four Indian companies, ICICI Prudential Asset Management Company Ltd, Annu Projects Ltd, Technocraft Ventures Ltd, and Powerica Ltd, have received final approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings (IPOs), marking a fresh round of activity in India's primary markets.

ICICI Prudential AMC Secures SEBI Approval for IPO

• ICICI Prudential Asset Management Company Ltd, a Mumbai-based asset management firm, filed its draft red herring prospectus (DRHP) with SEBI on July 8, 2025.
• The IPO comprises an offer for sale (OFS) of up to 1.76 crore equity shares by the promoter Prudential Corporation Holdings, with no fresh issue component.
• The equity shares have a face value of Rs 1 each, and the IPO is expected to raise close to Rs 10,000 crore, positioning it as one of the largest public issues this year.

ICICI Prudential AMC is India's largest asset management company by active mutual fund quarterly average assets under management (QAAUM), with a 13.3% market share as of March 31, 2025, according to a CRISIL report. Its total QAAUM stood at Rs 8,79,410 crore as of the same date.

Annu Projects Secures SEBI Approval for IPO

• Annu Projects, an EPC company specialising in overhead and underground utilities infrastructure, filed its draft IPO papers with SEBI on June 27, 2025.
• The proposed IPO consists of a fresh issue of up to 2.20 crore equity shares with a face value of Rs 10 per share.
• Financials show revenue of Rs 155.42 crore and net profit of Rs 17.39 crore for FY24, up from Rs 7.19 crore in FY23.

Technocraft Ventures Secures SEBI Approval for IPO

• Technocraft Ventures filed its DRHP with SEBI on August 8, 2025.
• The IPO will include a fresh issue of up to 95.05 lakh equity shares and an offer-for-sale of up to 23.76 lakh shares by promoters.
• The shares have a face value of Rs 10 each, and the fresh proceeds will be used primarily for working capital and general corporate purposes.

Powerica Secures SEBI Approval for IPO

• Powerica, a power solutions company manufacturing diesel generators, acoustic enclosures, control panels, and operating in the wind power sector, also secured SEBI approval for its IPO.
• Earlier filings indicated a proposed total issue size of about Rs 1,400 crore, split evenly between fresh issue and offer-for-sale by promoters.
• Final pricing and other IPO details are yet to be announced.

Book Running Lead Managers for the IPOs

• ICICI Securities, Citigroup Global Markets India, Morgan Stanley India, BofA Securities India, Axis Capital, CLSA India, IIFL Capital Services, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities (India), SBI Capital Markets, Goldman Sachs (India), Avendus Capital, BNP Paribas, HDFC Bank, JM Financial, Motilal Oswal Investment Advisors, Nuvama Wealth Management, and UBS Securities India.

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