Duroflex, Premier Industrial Corporation, 3 more companies get Sebi nod to launch IPO

Premier Industrial Corporation, Virupaksha Organics, Hexagon Nutrition, Om Power Transmission and Duroflex have secured approval from the Securities and Exchange Board of India (Sebi) to proceed with their initial public offerings (IPOs). All five companies received Sebi’s observation during the week.

In IPO parlance, Sebi’s ‘observation’ refers to the formal comments or clearance issued by the regulator on a company’s draft IPO documents.

Premier Industrial Corporation IPO

Premier Industrial Corporation’s IPO will be a mix of fresh issue and an offer for sale (OFS). The company received Sebi’s observation letter on February 10.

Under the issue, 2.79 crore equity shares will be offloaded by the company. In this, the fresh issue will be up to 2.25 crore while the OFS will be up to 54 lakh equity shares.

The selling shareholders are Arvind Chhotalal Morzaria, Dilip Chhotalal Morzaria, Subhash Chhotalal Morzaria, Lalit Navinchandra Morzaria and Nirmala Navinchandra Morzaria.

The company plans to utilise its net proceeds towards financing the capital expenditure requirements for setting up a new wire manufacturing facility in Raigad, Maharashtra, and for financing the capital expenditure required for the expansion of the existing manufacturing facility at the Wada Unit in Palghar, Maharashtra. A part of the proceeds will be be utilised for funding the working capital requirements of the company and for general corporate purposes.

Unistone Capital Private Limited is the sole Book Running Lead Manager (BRLM) to the issue.

Duroflex IPO

Duroflex IPO will be a mix of fresh issue and an offer for sale (OFS). The company received Sebi’s observation letter on February 12. The IPO consists of a fresh issue of equity shares aggregating up to Rs 184 and an offer for sale (OFS) of up to 2.25 crore equity shares by promoters and existing investors.

Duroflex Limited is a leading sleep and comfort solutions provider and is among the top three mattress companies in India by market share. It operates across mattresses, foam, furniture, pillows, accessories, and other bedding products under brands such as Duroflex, Sleepyhead, and Perfect Rest. As of June 30, 2025, Duroflex has established a broad network with 73 Company Owned Company Operated (COCO) stores, over 5,576 general trade stores, and a strong digital presence, serving a pan-India customer base.

Virupaksha Organics IPO

Virupaksha Organics IPO will entirely be a fresh issue worth Rs 740 crore according to the Draft Red Herring Prospectus (DRHP) filed by the company. The research-driven Indian pharmaceutical company received Sebi’s nod on Thursday, February 12.

The company is promoted by Chandra Mouliswar Reddy Gangavaram, Balasubba Reddy, Mamilla, Chandrasekhar Reddy Gangavaram, Vedavathi Gangavaram, Kondapalli Sandeep Reddy, Kotla SUuraj Redy, Mamilla Nagarjun Reddy, Gangavaram Sri Lakshmi and G Sri Vidya.

The BRLMs are Axis Capital Limited and SBI Capital Markets Limited while the registrar to the issue is Kfin Technologies Limited.

Hexagon Nutrition IPO

The public issue of Hexagon Nutrition will entirely be an OFS. The company received Sebi’s clearance on February 10. Under the OFS, promoters Arun Purushottam Kelkar, Subhash Purushottam Kelkar, Nutan Subhash Kelkar and Aditya Kelkar will together offload up to 30,859,704 equity shares.

The research-driven nutrition company is engaged in developing and manufacturing products across micronutrient premixes, branded wellness and clinical nutrition, therapeutic formulations, and ready-to-use foods.

The lead managers to the issue are Cumulative Capital Private Limited and Catalyst Capital Partners Private Limited while the registrar is Kfin Technologies.

Om Power Transmission IPO

The IPO will be a mix of fresh issue and an OFS. The company received the observation on today. Incorporated in 2011, Om Power Transmission is a power transmission infrastructure engineering, procurement, and construction (EPC) company with over 14 years of experience. The company’s expertise lies in the execution of high-voltage (HV) and extra-high voltage (EHV) transmission lines, substations and underground cabling projects delivered on a turnkey basis.

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