By Suresh P Iyengar

Copyright thehindubusinessline

Capital markets regulator SEBI has cleared six initial public offerings including that of Canara Robeco AMC, Hero Motors and Pine Labs. The six IPOs will collectively raise about ₹12,500 crore.

Canara Robeco Asset Management Company will be a complete offer for sale of 4.98 crore equity shares with existing promoters Canara Bank diluting 2.59 crore shares and ORIX Corporation Europe NV offering 2.39 crore shares.

Fund profile

The fund house manages 25 schemes comprising 12 equity schemes, 10 debt schemes and three hybrid schemes with a quarterly average AUM of ₹1,083.66 billion as of December-end.

Pankaj Munjal-led auto components maker Hero Motors plans ₹1,200 crore IPO. The issue consists of fresh issuance of shares worth ₹800 crore and an offer-for-sale of shares worth up to ₹400 crore by promoters. The supplies auto components to leading brands such as BMW and Ducati.

Manipal Payment and Identity Solutions, the country’s top producer of payment and identity cards, had confidentially filed DRHP. The IPO consists of both OFS and fresh share issuance.

Capital use

A large share of the capital raised will be used to reduce debt at the promoter entity level. MPISL provides card-based solutions to a wide range of clients, including major banks, fintech players and government bodies. The company manufactures a variety of products — credit, debit, smart cards and secure identity cards – catering to both commercial and institutional needs.

Pine Labs, which had filed draft papers on June 25 this year, proposed to raise ₹2,600 crore via issue of new shares, while its existing shareholders including investors will sell 14.78 crore equity shares via offer-for-sale.

The technology company focuses on digitising commerce through digital payments and issuing solutions for merchants, consumer brands and enterprises and financial institutions.

Orkla India, which owns spices and condiments brands MTR and Eastern, IPO comprises offer for sale of 2.28 crore equity shares by promoter and other shareholders.

Emmvee Photovoltaic Power, one of the largest solar PV module manufacturers, will raise ₹3,000 crore. The company is second largest pure-play solar PV module and solar cell manufacturer. The promoters of the company will sell shares of ₹856 crore while the company will issue fresh shares worth ₹2,144 crore.

Published on September 15, 2025