Upcoming IPO: Aye Finance, Bluestone Jewellery and GK Energy get SEBI nod to launch IPOs

Upcoming IPO: Aye Finance, Bluestone Jewellery and Lifestyle, and GK Energy have obtained final approval from the capital markets regulator, Securities and Exchange Board of India (SEBI), for their initial public offerings (IPOs).

Aye Finance IPO details

Located in Gurugram, Aye Finance Limited is a non-banking financial company – middle layer (NBFC-ML) that focuses on extending loans to micro-scale micro, small, and medium enterprises (MSMEs) throughout India, aiming to raise ₹1,450 crore through its IPO.

The IPO, featuring a face value of ₹2 per equity share, consists of a fresh issue up to ₹885 crore and an offer for sale up to ₹565 crore by both corporate and individual selling shareholders. The company submitted its IPO documents to SEBI on December 16, 2024.

The book-running lead managers for this offering include Axis Capital Limited, IIFL Capital Services Limited, JM Financial Limited, and Nuvama Wealth Management Limited, while KFin Technologies Limited serves as the registrar for the offering.

BlueStone Jewellery and Lifestyle IPO Details

Bengaluru-based BlueStone Jewellery and Lifestyle Limited, which provides contemporary lifestyle jewelry made from diamonds, gold, platinum, and other studded materials under its brand "BlueStone," has received approval to raise funds through an IPO.

This IPO, which has a face value of ₹1, includes a combination of a fresh issue of shares up to ₹1,000 crore and an offer for sale of up to 2,39,86,883 equity shares from selling shareholders. The company filed its IPO application with SEBI on December 11, 2024.

Axis Capital Limited, IIFL Capital Services Limited, and Kotak Mahindra Capital Company Limited are managing the book for this IPO, with KFin Technologies Limited acting as the registrar.

GK Energy IPO details

GK Energy Limited, which specializes as an engineering, procurement, and commissioning (EPC) provider of solar-powered agricultural water pump systems through direct-to-beneficiary sales as well as other sales, has also received final approval from SEBI to raise funds via an IPO.

This IPO, again with a face value of ₹2, includes a fresh issue of shares up to ₹500 crore and an offer for sale of 84,00,000 equity shares from selling shareholders. The offering includes reservations for subscription for eligible employees. The company presented its IPO paperwork to SEBI on December 13, 2024.

IIFL Capital Services Limited and HDFC Bank Limited are the book-running lead managers for this issue, with Link Intime India Private Limited serving as the registrar.

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