SEBI Grants IPO Approval to 7 Diverse Companies: Credila, Jaro, Sri Lotus, and More Set to Go Public
In a significant move, the Securities and Exchange Board of India (SEBI) has granted Initial Public Offering (IPO) approval to seven companies across various sectors, including education, real estate, mining, and more. This surge in IPO approvals reflects the robustness of India's capital markets and the growing investor confidence in these sectors.
1. Jaro Institute of Technology IPO Approval
Overview
Mumbai-based Jaro Institute of Technology Management and Research is a prominent player in India’s higher education and professional upskilling landscape. Known for offering online and hybrid courses in partnership with premier national and international universities, Jaro has positioned itself as a key enabler for working professionals and aspiring technocrats.
Business Model & Promoters
Founded over a decade ago, Jaro has built an ecosystem that blends university-grade education with corporate-friendly formats. Its partnerships include global names like Rotman School of Management and local institutions such as IIMs and IITs. The company is promoted by Sanjay Salunkhe and managed by a team with deep academic-industry linkages.
IPO Details
- IPO Structure : Fresh + OFS
- DRHP Filing Date : 03 October 2024
- SEBI Observation Letter Issued : 15 May 2025
- Book Running Lead Manager : Nuvama Wealth Management
- IPO Size : INR 570 crore
Use of Proceeds
The company intends to use funds for marketing, brand building, and advertising, repayment of certain outstanding borrowings, and general corporate purposes.
Sector Outlook
The edtech and professional learning segment has seen a resurgence in demand post-pandemic. With the shift to hybrid learning and the government’s Digital India push, Jaro is well-positioned to capitalize on this transformation.
2. Credila Financial Services IPO Approval
Overview
Credila is a focused non-banking financial company (NBFC) specializing in education loans. Originally a subsidiary of HDFC, the company has carved a niche by targeting Indian students seeking education overseas, particularly in the US, Canada, UK, and Europe.
Business Performance & Promoters
Having funded tens of thousands of students, Credila holds one of the most refined risk models in the student loan space. It was acquired by a consortium led by Barings PE and ChrysCapital after HDFC’s merger with HDFC Bank.
IPO Details
- IPO Size : Estimated at INR 5,000 crore
- DRHP Filing Date : 01 January 2025 (Confidential Filing)
- SEBI Observation Letter Issued : 15 May 2025
- Book Running Lead Manager : Axis Capital
- IPO Structure : Fresh Issue + Offer for Sale
Use of Proceeds
Since the company files confidentially, we cannot tell the exact use of funds, but according to some reports, it will primarily be used to augment capital adequacy and scale loan disbursals, particularly in Tier I cities and tech-driven platforms.
Sector Outlook
India’s education financing market is expected to grow exponentially with rising tuition costs and global aspirations. Credila is uniquely positioned to lead the segment with its deep underwriting capabilities and domain focus.
3. Sri Lotus Developers IPO Approval
Overview
Sri Lotus Developers is a Mumbai-headquartered real estate developer focusing on luxury and ultra-premium residential and commercial projects. Known for marquee properties in Mumbai suburbs and select South Indian cities, the brand has quickly built a reputation for design innovation and execution reliability.
Promoters & Projects
Founded by entrepreneur and film financier Anand Balaji, the company has also attracted celebrity investors such as Amitabh Bachchan, Shah Rukh Khan, Hrithik Roshan, and Tiger Shroff. Notably, ace investor Ashish Kacholia owns 33,33,300 shares in the company. With over 3.99 million sq. ft. developed and 3.8 million sq. ft. under development, Sri Lotus operates in the high-margin segment of real estate.
IPO Details
- IPO Size : INR 792 crore
- DRHP Filing Date : 03 January 2025
- SEBI Observation Letter Issued : 16 May 2025
- Book Running Lead Manager : Monarch Networth Capital
- IPO Structure : Fresh Issue Only
Use of Proceeds
The company plans to invest in its subsidiaries—Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate—to partially fund construction of ongoing projects Amalfi, The Arcadian, and Varun.
Sector Outlook
Luxury real estate in India has seen renewed demand post-pandemic, with NRIs and HNIs driving purchases. Sri Lotus is well-aligned with this trend and could emerge as a market leader in boutique urban developments.
4. Caliber Mining and Logistics IPO Approval
Overview
Caliber Mining and Logistics operates across mineral extraction and integrated logistics solutions. Its core business includes mining of industrial minerals and providing end-to-end logistics for bulk commodities.
Company Strengths
The dual revenue model — mining and transport — gives Caliber a competitive advantage in cost control and operational efficiency. It serves key sectors like cement, construction, and power.
IPO Details
- IPO Size : INR 600 crore (Fresh: INR 500 crore; OFS: INR 100 crore)
- DRHP Filing Date : 09 January 2025
- SEBI Observation Letter Issued : 13 May 2025
- Book Running Lead Manager : DAM Capital Advisors
- IPO Structure : Fresh + OFS
Use of Proceeds
Capital infusion will fund equipment modernization, expansion into new mining zones, and logistics hub development in East India.
Sector Outlook
India’s infrastructure push under the National Infrastructure Pipeline and Gati Shakti mission offers a significant runway for logistics and mining firms. Caliber is aligned with these macro trends.
5. Euro Pratik IPO Approval
Overview
Euro Pratik Sales is a design-centric interior decor company providing premium wall panels, laminates, wallpapers, and adhesives. It operates in the B2B space, supplying architects, interior designers, and large builders.
Brand Footprint
Founded by Pratik Patel, the company has become synonymous with high-end decorative surfaces. Its pan-India distribution network and international sourcing are key differentiators.
IPO Details
- IPO Size : INR 730 crore
- DRHP Filing Date : 23 January 2025
- SEBI Observation Letter Issued : 15 May 2025
- Book Running Lead Manager : Axis Capital
- IPO Structure : Total Offer for Sale (OFS)
Use of Proceeds
As it’s an OFS, proceeds will go to existing shareholders. However, the company is expected to gain visibility, brand credibility, and access to future equity financing.
Sector Outlook
India’s booming housing sector and the surge in DIY interior trends have created a ripe market for premium surface products. Euro Pratik’s strong brand and design ethos could resonate well with lifestyle-conscious consumers.
6. Gem Aromatics IPO Approval
Overview
Gem Aromatics is a leading manufacturer of mint-based and aromatic chemicals catering to F&B, personal care, pharmaceuticals, and fragrance companies. Headquartered in Mumbai, the company exports to over 30 countries.
Company Highlights
With backward-integrated operations and strong R&D capabilities, Gem is a critical supplier to major FMCG companies. It specializes in mint isolates, menthol, and essential oils.
IPO Details
- IPO Size : INR 1,750 crore (Fresh Issue) + OFS of 89.24 lakh shares
- DRHP Filing Date : 06 January 2025
- SEBI Observation Letter Issued : 13 May 2025
- Book Running Lead Manager : Motilal Oswal Investment Advisors
- IPO Structure : Fresh + OFS
Use of Proceeds
The IPO proceeds will be used for repayment of borrowings of the company and Krystal Ingredients, and for general corporate purposes.
Sector Outlook
With global demand for clean-label products rising, India’s essential oils and aroma chemicals sector is poised for growth. Gem’s international footprint gives it a strategic edge.
7. Jesons Industries IPO Approval
Overview
Jesons Industries is a key Indian player in the specialty chemicals space, primarily manufacturing acrylic emulsions and adhesives used in packaging, textiles, construction, and paints.
Company Legacy
Established in the early 2000s, Jesons has become a preferred supplier for leading industrial clients. It exports to over 40 countries and has manufacturing units in Maharashtra and Gujarat.
IPO Details
- IPO Size : INR 300 crore (Fresh Issue) + OFS of 94.60 lakh shares
- DRHP Filing Date : 14 January 2025
- SEBI Observation Letter Issued : 14 May 2025
- Book Running Lead Manager : Motilal Oswal Investment Advisors
- IPO Structure : Fresh + OFS
Use of Proceeds
Repayment or prepayment of borrowings and general corporate purposes.
Frequently Asked Questions
What is the significance of SEBI granting IPO approval to these companies?
SEBI granting IPO approval to these companies is a strong endorsement of India’s resilient capital markets and reflects the growing investor confidence in various sectors. It also indicates that these companies have met the regulatory standards and are ready to raise capital from the public.
How does Jaro Institute of Technology plan to use the IPO proceeds?
Jaro Institute of Technology plans to use the IPO proceeds for marketing, brand building, and advertising, repayment of certain outstanding borrowings, and general corporate purposes.
What is Credila Financial Services' business model?
Credila Financial Services is a focused non-banking financial company (NBFC) specializing in education loans. It primarily targets Indian students seeking education overseas, particularly in the US, Canada, UK, and Europe.
What are the key projects of Sri Lotus Developers?
Sri Lotus Developers has several marquee properties in Mumbai suburbs and select South Indian cities. Notable projects include Amalfi, The Arcadian, and Varun. The company plans to invest in its subsidiaries to fund the construction of these ongoing projects.
What is the sector outlook for Euro Pratik Sales?
The sector outlook for Euro Pratik Sales is positive, driven by India’s booming housing sector and the surge in DIY interior trends. The company’s strong brand and design ethos are expected to resonate well with lifestyle-conscious consumers.
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