The Securities and Exchange Board of India (Sebi) has approved initial public offerings (IPOs) for six companies, including Hexaware Technologies, Vikran Engineering, PMEA Solar Tech Solutions, Ajax Engineering, All Time Plastics, and Scoda Tubes.

Carlyle-backed Hexaware Technologies plans to raise Rs 9,950 crore through a pure offer for sale (OFS), with shares being sold by CA Magnum Holdings, an affiliate of Carlyle private equity, and the promoter selling shareholder.

PMEA Solar Tech’s IPO will comprise fresh issues of up to Rs 600 crore and an OFS of up to 11.23 million equity shares. Vikran Engineering, an EPC (engineering, procurement, and construction) company operating in the power, water, and railway infrastructure sectors, aims to raise Rs 1,000 crore. Meanwhile, Sebi returned the draft document of Anand Rathi Share and Stock Brokers.

Kalyan Jewellers gains after MOAMC rebuts allegations

Shares of Kalyan Jewellers India rose as much as 9.4 per cent on Monday following Motilal Oswal Asset Management Company’s (MOAMC) strong denial of allegations circulating on social media regarding its investments in the jewellery retailer.

Social media posts had claimed MOAMC officials were bribed to make substantial investments in Kalyan Jewellers. MOAMC dismissed these allegations as "baseless, malicious, and defamatory.”

Kalyan Jewellers’ shares ended 5.9 per cent higher at Rs 531, recovering from a drop of over 35 per cent in the past two weeks.

Laxmi Dental surges 30% on debut

Laxmi Dental’s shares soared nearly 30 per cent during their trading debut on Monday. The company’s stock closed at Rs 551, up Rs 123, or 29 per cent, over its issue price of Rs 428, valuing the company at Rs 3,026 crore.

Laxmi Dental’s Rs 698-crore IPO was oversubscribed over 110 times. The company offers products such as custom-made crowns and bridges, clear aligners, thermoforming sheets, and aligner-related items. For the six months ended September 2024, the company reported a net profit of Rs 23 crore on revenues of Rs 117 crore.

Swan Defence relists at Rs 37.8

Shares of Swan Defence and Heavy Industries, formerly Reliance Naval and Engineering (RNEL), closed at Rs 37.8 upon relisting, valuing the company at nearly Rs 200 crore.

Swan Defence’s relisting follows its acquisition by Swan Energy, which was finalised through the National Company Law Tribunal (NCLT) process in January 2024. Existing RNEL shareholders received new shares of Swan Defence in a ratio of 275:1.

“The acquisition aligns with Swan Energy's strategic goal of becoming a prominent player in ship-breaking, ship repair, and establishing a key manufacturing hub in the Asia-Pacific region,” Swan Defence said in a statement.