The Securities and Exchange Board of India (SEBI) has given the green light to the initial public offerings (IPOs) of Onemi Technology Solutions, Alcobrew Distilleries India, and Kusumgar. This paves the way for the three companies to raise significant capital from the market for their expansion plans and other corporate purposes.
Onemi Technology Solutions, the parent company of the digital lending platform Kissht, is planning to raise funds through a fresh issue of shares worth up to ₹1,000 crore, along with an offer for sale (OFS) of 8.8 million shares by existing investors. There is also a possibility of a pre-IPO placement of up to ₹200 crore, which could reduce the size of the fresh issue. The company intends to use ₹750 crore from the fresh issue to augment the capital base of its subsidiary, Si Creva Capital Services, and the rest for general corporate purposes. Kissht, founded in 2016, provides digital loans through its mobile app for both consumer and business needs, targeting underserved customer segments via merchant partnerships. As of March 2025, Kissht reported a registered user base of 53.2 million and has served over 9 million customers, with around 1.9 million active borrowers. In FY25, Onemi reported revenue of ₹1,337 crore and a net profit of ₹160 crore. JM Financial, HSBC Securities, Nuvama Wealth, SBI Capital, and Centrum Capital are managing the IPO, with KFin Technologies as the registrar.
Alcobrew Distilleries India plans to raise capital through a fresh issue aggregating up to ₹258.26 crore and an offer-for-sale (OFS) of 1.8 crore shares by a promoter. The funds raised through the fresh issue will be utilized for business expansion, working capital requirements, and general corporate purposes. Alcobrew manufactures, markets, and sells alcoholic beverages, including whisky, vodka, and rum, with brands like Golfer's Shot and White & Blue. As of FY25, Alcobrew holds a 3.79% market share in North India’s whisky segment and 11.02% in Delhi by volume. The company operates two bottling plants, including one in Punjab with a production capacity of 4.62 million cases per annum, and a distillery in Himachal Pradesh. Motilal Oswal Investment Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Kusumgar Ltd's IPO is entirely an offer for sale of ₹650 crore by its promoters. Therefore, the company will not receive any proceeds from the IPO. Founded in 1990, Kusumgar manufactures engineered fabrics used in various sectors, including aerospace and defence, outdoor and lifestyle, and industrial and automotive applications. These segments contribute 77%, 7%, and 15%, respectively, to its topline. Between FY24 and FY25, Kusumgar's profit rose more than 32% to ₹112 crore from ₹84.4 crore, while revenue jumped more than 66% to ₹779 crore from ₹467.9 crore. Axis Capital Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
The approvals from SEBI, which were granted after the companies filed their draft red herring prospectuses (DRHPs) between August and October 2025, allow the companies to proceed with their public issues within the next year. These IPOs are expected to contribute significantly to the primary market, with a combined fundraising potential exceeding ₹3,000 crores.
