Hero Motors, Pine Labs, Canara Robeco AMC among six firms to receive Sebi nod for IPOs

The capital markets regulator, Securities and Exchange Board of India (Sebi), has cleared the initial public offering (IPO) proposals of six companies, paving the way for them to list their shares on the domestic bourses. The list includes Hero Motors, Canara Robeco Asset Management Company, fintech major Pine Labs, and three other firms, which are looking to collectively raise around ₹9,000 crore.

Among others, solar equipment maker Emmvee Photovoltaic Power, banking and smart card manufacturer Manipal Payment and Identity Solutions, and Orkla India, which owns packaged foods brand MTR, have also received the green signal from the regulator for their IPOs.

All six IPOs were filed earlier this year, between April and July, and received observations between September 2 and 12, 2025. In regulatory terms, Sebi’s observations mean clearance for launching a public issue.

As per the DRHP filed with the regulator, the IPO proceeds are likely to be used for business expansion, debt reduction, and offering partial exits to existing shareholders.

Canara Robeco Asset Management Company, a subsidiary of PSU lender Canara Bank, filed preliminary papers with Sebi on April 24 this year to raise funds via an IPO consisting entirely of an offer-for-sale (OFS) of 4.98 crore shares by promoters.

Auto component manufacturer Hero Motors, which aims to raise ₹1,200 crore through a mix of fresh equity issuance and an OFS, had initially filed for a ₹900-crore IPO in August 2024. The company later re-submitted its DRHP in July 2025, raising the issue size to ₹1,200 crore.

Fintech firm Pine Labs filed its DRHP with Sebi on July 3, 2025, looking to raise fresh equity of ₹2,600 crore through the IPO.

Last month, the regulator issued observation letters for 13 companies, including Allchem Lifescience, Pace Digitek, Jain Resource Recycling, Om Freight Forwarders, Urban Company, Corona Remedies, Priority Jewels, Mouri Tech, Ravi Infrabuild Projects, KSH International, Omnitech Engineering, Juniper Green Energy, and Imagine Marketing (parent of boAt).

These approvals, spanning sectors from healthcare and technology to logistics, consumer brands, and renewables, were disclosed in Sebi’s document.

Till August 30, 2025, a total of 49 mainboard IPOs have raised a total of ₹71,947 crore, with several more issues in the pipeline to tap the primary market.

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