Mouri Tech, Pace Digitek, Om Freight Forwarders, KSH International and Priority Jewels gets SEBI approval for IPO

Mouri Tech Ltd., Pace Digitek Ltd., Om Freight Forwarders Ltd., KSH International Ltd., and Priority Jewels Ltd. all have received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI) for IPO.

Mouri Tech Ltd. IPO

Hyderabad-based IT Solutions and Services company, Mouri Tech Ltd., had filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise Rs 1,500 crore through an Initial Public Offering (IPO). Mouri Tech is an IT solutions and services company, delivering services with an “AI first” approach and a focus on end-to-end capabilities in intelligent enterprise resource planning (“iERP”) and enterprise digital transformation.

The IPO, with a face value of Rs 10 per share, comprises a fresh issue of up to Rs 250 crore and an offer for sale (OFS) of up to Rs 1,250 crore by the Promoter and other selling shareholders. The OFS includes up to Rs 726.30 crore by Sujai Paturu, Rs 370.60 crore by Anil Reddy Yerramreddy, and Rs 153.10 crore by Srinivasu Rao Sandaka. The Company may also consider a pre-IPO placement of up to Rs 50 crore.

The proceeds from the fresh issue will be used for investment in its subsidiary MT USA, repayment/prepayment of borrowings, funding inorganic growth through acquisitions, and general corporate purposes. Mouri Tech is an IT services provider delivering solutions with an “AI first” approach across intelligent ERP, enterprise digital transformation, infrastructure services, and program management. As of December 31, 2024, the company had 554 active customer accounts and an employee base of 2,983, ranking 18th among India’s top 100 best workplaces in 2023.

Nuvama Wealth Management Limited, ICICI Securities Limited, and JM Financial Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar to the issue.

Pace Digitek Ltd. IPO

Pace Digitek Limited, a Bengaluru-based telecom passive infrastructure solutions provider, had filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise Rs 900 crore through an Initial Public Offering (IPO).

The IPO, with a face value of Rs 2, is entirely a fresh issue of shares aggregating up to Rs 900 crore. The company may consider a pre-IPO placement of up to Rs 180 crore, which will reduce the fresh issue size if undertaken. Proceeds of Rs 630 crore from the issue will go towards funding capital expenditure, while the balance will be used for general corporate purposes.

Incorporated in 2007, Pace Digitek has transitioned from a telecom equipment manufacturer to a multi-disciplinary solutions provider with operations across India, Myanmar, and Africa. Its business verticals include telecom, energy, and ICT, with offerings spanning telecom power equipment, lithium-ion battery racks, O&M services, and turnkey projects. The company reported a revenue growth of 383.81% from Rs 503.20 crore in FY23 to Rs 2,434.48 crore in FY24, while PAT surged 1290.38% to Rs 229.87 crore in FY24.

Unistone Capital Private Limited is the sole book-running lead manager and MUFG Intime India Private Limited is the registrar of the issue.

Om Freight Forwarders Ltd. IPO

Mumbai-based third-party logistics provider, Om Freight Forwarders Limited, had filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise funds through an Initial Public Offering (IPO).

The IPO, with a face value of Rs 10 per share, comprises a fresh issue of Rs 25 crore and an offer for sale of up to 7,250,000 equity shares by the Promoter Selling Shareholder. The OFS includes up to 3,987,500 shares by Rahul Jagannath Joshi, 2,537,500 shares by Harmesh Rahul Joshi, and 725,000 shares by Kamesh Rahul Joshi.

Founded in 1995, Om Freight has evolved from a freight forwarding and customs clearance agent into a full-scale logistics solutions provider. It offers freight forwarding, customs clearance, vessel agency, warehousing, and multimodal transportation, including handling of over-dimensional and project cargo. In FY24, revenue from operations stood at Rs 410.50 crore with a PAT of Rs 10.35 crore, while in H1FY25, revenue was Rs 250.29 crore with a PAT of Rs 13.22 crore.

Smart Horizon Capital Advisors Private Limited is the sole book-running lead manager, and Bigshare Services Private Limited is the registrar of the offer.

KSH International Ltd. IPO

Pune-based KSH International Limited, the third-largest magnet winding wire manufacturer in India, had filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise Rs 745 crore through an Initial Public Offering (IPO).

The IPO, with a face value of Rs 5 per share, comprises a fresh issue of up to Rs 420 crore and an offer for sale of up to Rs 325 crore by the Promoter Selling Shareholders. The proceeds from the fresh issue will be used towards repayment of borrowings, expansion at its Supa and Chakan facilities, installation of a rooftop solar power plant, and general corporate purposes.

Part of the KSH Group, the company began operations in 1981 and is also the largest exporter of magnet winding wires from India. Its customers include Bharat Bijlee, BHEL, Siemens Energy India, GE Vernova, and Hitachi Energy. In FY24, its revenue from operations rose 31.76% to Rs 1,382.82 crore, with PAT at Rs 37.35 crore. The company exports to 24 countries and is expanding its manufacturing capacity from 29,045 MT to 59,045 MT over the next two years.

Nuvama Wealth Management Limited, and ICICI Securities Limited are the book-running lead managers and MUFG Intime India Private Limited is the registrar of the issue.

Priority Jewels Ltd. IPO

Mumbai-based jewellery manufacturer, Priority Jewels Limited, had filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise funds through an Initial Public Offering (IPO).

The IPO, with a face value of RS 10 per share, is a fresh issue of up to 54,00,000 equity shares. The company may consider a pre-IPO placement of up to 20% of the issue size, which will reduce the fresh issue size if undertaken. Of the proceeds, Rs 75 crore will be used towards repayment/prepayment of borrowings, with the balance for general corporate purposes.

Incorporated in 2007, Priority Jewels designs and manufactures affordable, lightweight, diamond-studded gold and platinum jewellery, catering to both domestic and international markets. It supplies to major jewellery chains, including CaratLane, Kalyan Jewellers, Reliance Retail, and Malabar Gold & Diamonds. As of December 31, 2024, it had over 200 customers across 21 Indian states and 13 international markets. Its PAT grew from Rs 5.37 crore in FY22 to Rs 7.15 crore in FY24, reflecting a CAGR of 15.35%.

Mefcom Capital Markets Limited is the sole book-running lead manager and MUFG Intime India Private Limited is the registrar to the issue.