IPO Update

The initial public offering of Capillary Technologies continued to gain traction on its second day, securing 52% subscription as investors evaluated the company’s growth prospects in the customer engagement and loyalty management space. Interest from retail and institutional segments contributed to the steady performance, reflecting confidence in the firm’s business model, recurring revenue streams, and expanding global footprint.

Tenneco Clean Air’s initial public offering (IPO) triggered overwhelming investor enthusiasm, closing with a subscription level of 59 times its offer size. The strong response reflects robust confidence in the company’s technological capabilities, market positioning, and growth prospects within the emissions-control and clean-mobility solutions sector.

Capillary Technologies’ initial public offering opened to moderate investor interest, achieving 28% subscription on the first day of bidding. The SaaS-based customer engagement and loyalty solutions provider is seeking to raise capital to strengthen its balance sheet, repay debt, and fuel expansion across global markets. While institutional participation remained subdued on the debut day, retail investors and non-institutional bidders contributed to the early traction.

The initial public offering (IPO) of Pine Labs Ltd, a leading digital payments and merchant commerce platform, received 54% subscription by the end of the second day of bidding. Institutional and retail investors showed moderate interest, while high-net-worth individuals (HNIs) displayed cautious participation. The company’s Rs 3,000 crore public issue, comprising a mix of fresh equity and an offer for sale (OFS), aims to strengthen Pine Labs’ balance sheet and fund strategic growth initiatives.

The initial public offering (IPO) of Fujiyama Power Systems Ltd is set to open for subscription on November 13, drawing attention from investors eager to participate in India’s growing clean energy and electric mobility sectors. The company, known for its energy-efficient battery and inverter systems, aims to raise capital to expand manufacturing capacity, enhance research and development, and strengthen its distribution network across domestic and export markets.

Eyewear retailer Lenskart made a lukewarm debut on the stock exchanges, opening below its issue price before recovering later in the session amid strong investor interest. The company’s shares listed weakly due to profit-taking and cautious sentiment among retail investors but regained traction as institutional buyers stepped in. Market analysts attributed the recovery to Lenskart’s robust business fundamentals, expansive omnichannel strategy, and solid growth prospects in India’s organized eyewear segment.

NoPaperForms, a leading digital platform for educational and institutional form management, has officially filed its draft prospectus with the Securities and Exchange Board of India (SEBI), signaling its intention to launch an initial public offering (IPO). The company aims to leverage capital markets to fund technology expansion, scale operations, and enhance its product suite for educational institutions and enterprises.

Renewable energy company SAEL Industries has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹4,575 crore through its initial public offering (IPO). The issue will comprise a fresh equity sale worth ₹3,750 crore and an offer for sale (OFS) of ₹825 crore by existing investor Norfund, the Norwegian government’s development finance institution.

Online investment platform Groww has raised Rs. 2,984 crore from anchor investors ahead of its much-anticipated initial public offering (IPO), underscoring strong institutional confidence in India’s fast-growing fintech ecosystem. The IPO, valued at approximately Rs. 6,632 crore, includes both a fresh issue and an offer for sale. The overwhelming response from global sovereign funds, domestic mutual funds, and marquee investors highlights broad market optimism surrounding Groww’s scalable business model, expanding user base, and leadership in digital broking.

The initial public offering (IPO) of Studds Accessories Ltd., India’s leading two-wheeler helmet manufacturer, witnessed overwhelming investor enthusiasm, closing with a subscription rate of 73 times on the final day of bidding. The strong response reflected broad-based participation from institutional, retail, and non-institutional investors, underscoring robust confidence in the company’s growth trajectory, brand dominance, and export potential.