Duroflex, Premier Industrial Corporation, and Three More Companies Secure SEBI Nod for IPO Launch
The Securities and Exchange Board of India (SEBI) has granted IPO clearance to five companies, signaling fresh opportunities for fundraising and stake sales. This includes well-known names such as Duroflex, Premier Industrial Corporation, Virupaksha Organics, Hexagon Nutrition, and Om Power Transmission, all of which received SEBI’s observation this week.
What Does SEBI’s ‘Observation’ Mean?
In IPO terminology, SEBI’s ‘observation’ signifies the regulator’s formal comments or approval regarding a company’s draft IPO documents. This is a crucial step in moving forward with the public offering.
Premier Industrial Corporation IPO Overview
– Type: Mix of fresh issue and offer for sale (OFS)
– Observation Date: February 10
– Total Shares Offered: 2.79 crore
– Fresh Issue: Up to 2.25 crore equity shares
– OFS: Up to 54 lakh equity shares
– Key Shareholders in OFS:
– Arvind Chhotalal Morzaria
– Dilip Chhotalal Morzaria
– Subhash Chhotalal Morzaria
– Lalit Navinchandra Morzaria
– Nirmala Navinchandra Morzaria
The proceeds will contribute to capital expenditures for establishing a new wire manufacturing facility in Raigad, Maharashtra, along with the expansion of the existing unit in Palghar.
Duroflex IPO Highlights
– Type: Mix of fresh issue and OFS
– Observation Date: February 12
– Total Shares Offered: Includes a fresh issue of equity shares aggregating up to Rs 184 crore and an OFS of up to 2.25 crore equity shares
– Market Position: Duroflex is among the top three mattress companies in India by market share, offering a diverse range of products under the Duroflex, Sleepyhead, and Perfect Rest brands.
– Network Reach: 73 Company Owned Company Operated (COCO) stores and over 5,576 general trade outlets as of June 30, 2025.
Virupaksha Organics IPO Details
– Type: Entirely fresh issue
– Amount: Rs 740 crore
– Observation Date: February 12
– Promoters: Includes Chandra Mouliswar Reddy Gangavaram and others
– Lead Managers: Axis Capital Limited and SBI Capital Markets Limited
Hexagon Nutrition IPO Information
– Type: Entirely OFS
– Observation Date: February 10
– Shares Offered: Up to 30,859,704 equity shares
– Core Business: Development and manufacturing of nutrition products including micronutrient premixes and therapeutic formulations.
– Lead Managers: Cumulative Capital Private Limited and Catalyst Capital Partners Private Limited
Om Power Transmission IPO Overview
– Type: Mix of fresh issue and OFS
– Observation Date: Recently approved
– Company Background: Established in 2011, it specializes in high-voltage (HV) and extra-high voltage (EHV) transmission lines and infrastructure.
Conclusion
Duroflex, along with Premier Industrial Corporation and three other firms, is set to make a significant impact in the IPO market following SEBI’s approval. As they gear up to launch their offerings, potential investors may find promising opportunities across diverse sectors, from manufacturing to sleep solutions. With robust plans for expansion and innovation, these companies are well-poised for their IPO journey.