IPO - Initial Public Offering

Solar91 Cleantech Limited is engaged in providing Engineering, Procurement, and Construction (EPC) Solar Energy Solutions to commercial and industrial customers with renewable energy systems to help reduce their power consumption. The company primarily focuses on serving customers and investors in the distributed renewable energy market. This includes rooftop solar for industrial, commercial, and residential sectors, as well as open access, group captive solutions, agro PV, and distributed solar investment opportunities.

Rosmerta Digital Services Limited, a subsidiary of Rosmerta Technologies Limited (RTL), was established in 2021 and provides digitally-enabled services and digitally-enabled distribution channels for automotive components and accessories. The company initially offered vehicle registration services to original equipment manufacturers (OEMs) and has since diversified into a comprehensive service offering including garage services, last-mile delivery services, and the sale of automotive components and accessories. Rosmerta Digital Services has two main business areas: Digitally Enabled Services: Here the company offers technology-enabled vehicle registrations, last-mile delivery, and garage services, simplifying processes for OEMs and vehicle sales companies such as Cars24. The company's URJA platform streamlines workflows, while services include title transfers, regulatory approvals, and last-mile High Security Registration Plate (HSRP) delivery. Digital Enabled Channel Sales: In 2023, the company expanded into automotive components with over 150 distribution partners, ensuring efficient distribution. The company is a leader in the registration of electric two-wheelers and works with OLA Electric and Royal Enfield. The company's URJA platform streamlines workflows and the MyRaasta app supports garage partners and reinforces Rosmerta Digital’s reputation for efficiency and customer satisfaction.

Archit Nuwood Industries Limited was founded in 2017 and manufactures a wide range of MDF and HDF boards as well as pre-laminated boards in various designs. The company's product portfolio includes: MDF: Pre-laminated interior grade materials or pre-lam, Pre-laminated Exterior Grade MDF (Medium Density Fiberboard), Plain Exterior Grade MDF (Medium Density Fiberboard), Plain Interior Grade MDF (Medium Density Fiberboard). HDF: Pre-laminated HDF, or High-Density Fiberboard, Plain High-Density Fiberboard (HDF), Plain California Air Resources Board (CARB) Compliant Panels, and Pre-laminated California Air Resources Board (CARB) Compliant Panels. High-Pressure Laminate (HPL) As of April 26, 2024, the Company had 149 employees, including directors, on its payroll.

Hero Motors began its operations in 2001 with the Alloys and Metallic’s segment and today is India's leading automotive technology company. The company specializes in designing, developing, manufacturing, and supplying highly engineered powertrain solutions for automotive OEM manufacturer across the world. Their products are used in various categories, including two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy duty vehicles, and electric vertical take-off and landing (eVTOL) categories. The company has a diverse product portfolio catering to electric vehicles (EVs) and internal combustion engine vehicles (ICEs). They are the only player manufacturing and exporting CVT hubs to global e-bike OEMs from India and are the only manufacturer of integrated electric powertrain products for e-bikes in India. The company has been involved in acquisition and joint venture to step into new horizons. The company has developed in-house design and engineering capabilities, as well as manufacturing and validation capabilities, with adequate R&D resources, equipment, assembly lines, and end-of-line testing machines.

Patel Retail Limited, established in 2008, is a leading retail supermarket chain primarily serving tier-III cities and suburban areas, particularly in Maharashtra's Thane and Raigad districts. With a focus on value retail, the company operates thirty-one stores spanning approximately 1,26,000 sq. ft. As part of its strategy to enhance margins and brand visibility, Patel's R Mart has introduced private label products like Patel Fresh pulses and Indian Chaska spices, sourced and packaged at their processing facility in Ambernath, Maharashtra.

IndiaFirst Life Insurance started operating in 2009 as a private life insurance company. The Indian private life insurance firm was one of the fastest growing regarding New Business IRP in fiscal 2022. It recorded 27.3% CAGR growth in New Business in IRP for the 5-year period ending in fiscal 2022, against the private life insurance segment’s growth of 13.9% CAGR. IndiaFirst Life Insurance is backed by Bank of Baroda - the third-largest public sector bank, and Union Bank of India, the fifth-largest PSU bank. It primarily operates through the expansive bancassurance network, which contributed 91.34% of New Business IRP in fiscal 2022.

National Securities Depository Limited (NSDL) is India's leading market infrastructure institution, registered with the Securities and Exchange Board of India (SEBI). Since the enactment of the Depositories Act in 1996, NSDL has been at the forefront of transforming India's securities market by introducing the dematerialisation of securities. This revolutionary step occurred in November 1996, marking a significant milestone in the Indian financial landscape. NSDL operates as a robust depository, providing a comprehensive framework that enables market participants to engage in India's financial and securities markets. The institution plays a central role in developing innovative products and services to address the evolving needs of the financial services industry in the country.

Avanse Financial Services Limited is an education-oriented NBFC leader in India. Its assets under management are the second largest in the market, and its ranking for loan disbursements and profit also leads within its peer group. This education advancement-focused NBFC has student loans available for both studies within the country and international study pursuits. Also, secured loans are available to support education institutions' growth and their infrastructure requirements. Beyond loans, value-added services including life, health, and travel insurance, wellness resources, foreign exchange, and financial health reports are all provided to customers through strategic third-party partnerships. Avanse operates at the grassroots level with a presence across 545 locations across 19 branches, supported by a 215-strong sales force and digital acquisition channel reach into major educational hubs as well as students across the country. Avanse stands for accessible education financing, which empowers students and institutions across the nation with committed, full-spectrum support. It has serviced 545 locations in India and maintained a hybrid presence by strategically combining its physical branch network of 19 branches and sales offices and its 215-strong sales team with the distribution network. As of March 31, 2024, the company's distribution network consisted of 320 active education advisors and aggregators (agents specializing in education loans), 452 direct sales agents (DSAs), and the direct acquisition channel, which includes the digital marketing initiatives and referrals from existing customers.

A diversified financial services company, Hero FinCorp offers two-wheeler financing, advances for buying homes in the affordable housing segment, loans for education, and lends to the small and medium enterprise sector. The lender has presence in over 4,000 cities and towns across India and nearly 2,000 retail financing touchpoints within Hero MotoCorp's network.

Polymatech Electronics Limited was originally incorporated as Polymatech Electronics Private Limited on May 29, 2007. The company is the first opto-semiconductor chips manufacturer in India. They have a manufacturing facility in Kancheepuram, Tamil Nadu and have bought a BTS (Built to Suit) facility in Krishnagiri, Tamil Nadu. The products of the company are categorised as fully packaged opto-semiconductor chips and luminaries, which are LED lights used for commercial purposes. They began the opto-semiconductor chips production in 2019 and use European and Japanese technologies to offer high-quality products to meet international standards. The company designs, fabricates, manufactures, packs and assembles the opto-semiconductor chips and sells them directly to customers. These chips are also used in their luminary assembly. The company’s luminaries are installed at several factories, temples and stadiums, such as Vishay Precision Group, Shin-Etsu, Japan, Sawai Mansingh Stadium, Parthasarathi Temple, Chennai and more. The opto-semiconductor industry in the world is expected to touch USD 59,224 million by 2028 from USD 43,780 million in 2022. The growth is primarily driven by the automotive sector and infrastructure providers to provide lighting in commercial spaces or households. The company can benefit from the demand.

Capital Small Finance Bank Limited is a a small finance bank. In 2015, Capital SFB became the first non-NBFC microfinance entity to receive the SFB license. The company has a strong presence in semi-urban and rural areas with a branch-based operating model. Capital Small Finance Bank targets middle-income customer segments with an annual income of ₹0.4-5 million. They aim to be the primary banker for these customers through a mix of product offerings, customer service, physical branches, and digital channels. Capital Small Finance Bank is headquartered in Jalandhar, Punjab and has strategically expanded its SFB operations in northern states of India such as Punjab, Haryana, Rajasthan, Delhi, Himachal Pradesh and UT Chandigarh. As of June 30, 2023, Capital Small Finance Bank had a presence in five states and one union territory, with a total of 172 branches and 174 ATMs. The bank's branches were predominantly located in rural and semi-urban areas, covering 24 districts, and serving approximately 75.90% of the total customers, both in terms of credit and deposits. This suggests that the bank has a well-defined niche catering to the middle-income group, with a special emphasis on rural and semi-urban areas. As of March 31 and June 30, 2023, respectively, 99.82% and 99.84% of the bank's loan book was secured, with 85.16% and 84.66% of loans secured by immovable properties. The average ticket size of Capital Small Finance Bank agriculture, MSME and trading, and mortgage lending products as of March 31, 2023, were ₹ 1.23 million, ₹ 1.82 million, and ₹ 1.16 million respectively. As of June 30th, 2023, Capital Small Finance Bank has a total of 1827 employees working for the organization.

Solar91 Cleantech Limited is engaged in providing Engineering, Procurement, and Construction (EPC) Solar Energy Solutions to commercial and industrial customers with renewable energy systems to help reduce their power consumption. The company primarily focuses on serving customers and investors in the distributed renewable energy market. This includes rooftop solar for industrial, commercial, and residential sectors, as well as open access, group captive solutions, agro PV, and distributed solar investment opportunities.

Rosmerta Digital Services Limited, a subsidiary of Rosmerta Technologies Limited (RTL), was established in 2021 and provides digitally-enabled services and digitally-enabled distribution channels for automotive components and accessories. The company initially offered vehicle registration services to original equipment manufacturers (OEMs) and has since diversified into a comprehensive service offering including garage services, last-mile delivery services, and the sale of automotive components and accessories. Rosmerta Digital Services has two main business areas: Digitally Enabled Services: Here the company offers technology-enabled vehicle registrations, last-mile delivery, and garage services, simplifying processes for OEMs and vehicle sales companies such as Cars24. The company's URJA platform streamlines workflows, while services include title transfers, regulatory approvals, and last-mile High Security Registration Plate (HSRP) delivery. Digital Enabled Channel Sales: In 2023, the company expanded into automotive components with over 150 distribution partners, ensuring efficient distribution. The company is a leader in the registration of electric two-wheelers and works with OLA Electric and Royal Enfield. The company's URJA platform streamlines workflows and the MyRaasta app supports garage partners and reinforces Rosmerta Digital’s reputation for efficiency and customer satisfaction.

Archit Nuwood Industries Limited was founded in 2017 and manufactures a wide range of MDF and HDF boards as well as pre-laminated boards in various designs. The company's product portfolio includes: MDF: Pre-laminated interior grade materials or pre-lam, Pre-laminated Exterior Grade MDF (Medium Density Fiberboard), Plain Exterior Grade MDF (Medium Density Fiberboard), Plain Interior Grade MDF (Medium Density Fiberboard). HDF: Pre-laminated HDF, or High-Density Fiberboard, Plain High-Density Fiberboard (HDF), Plain California Air Resources Board (CARB) Compliant Panels, and Pre-laminated California Air Resources Board (CARB) Compliant Panels. High-Pressure Laminate (HPL) As of April 26, 2024, the Company had 149 employees, including directors, on its payroll.

Hero Motors began its operations in 2001 with the Alloys and Metallic’s segment and today is India's leading automotive technology company. The company specializes in designing, developing, manufacturing, and supplying highly engineered powertrain solutions for automotive OEM manufacturer across the world. Their products are used in various categories, including two-wheelers, performance automotive, e-bikes, off-road vehicles, electric and hybrid cars, heavy duty vehicles, and electric vertical take-off and landing (eVTOL) categories. The company has a diverse product portfolio catering to electric vehicles (EVs) and internal combustion engine vehicles (ICEs). They are the only player manufacturing and exporting CVT hubs to global e-bike OEMs from India and are the only manufacturer of integrated electric powertrain products for e-bikes in India. The company has been involved in acquisition and joint venture to step into new horizons. The company has developed in-house design and engineering capabilities, as well as manufacturing and validation capabilities, with adequate R&D resources, equipment, assembly lines, and end-of-line testing machines.

Patel Retail Limited, established in 2008, is a leading retail supermarket chain primarily serving tier-III cities and suburban areas, particularly in Maharashtra's Thane and Raigad districts. With a focus on value retail, the company operates thirty-one stores spanning approximately 1,26,000 sq. ft. As part of its strategy to enhance margins and brand visibility, Patel's R Mart has introduced private label products like Patel Fresh pulses and Indian Chaska spices, sourced and packaged at their processing facility in Ambernath, Maharashtra.

IndiaFirst Life Insurance started operating in 2009 as a private life insurance company. The Indian private life insurance firm was one of the fastest growing regarding New Business IRP in fiscal 2022. It recorded 27.3% CAGR growth in New Business in IRP for the 5-year period ending in fiscal 2022, against the private life insurance segment’s growth of 13.9% CAGR. IndiaFirst Life Insurance is backed by Bank of Baroda - the third-largest public sector bank, and Union Bank of India, the fifth-largest PSU bank. It primarily operates through the expansive bancassurance network, which contributed 91.34% of New Business IRP in fiscal 2022.

National Securities Depository Limited (NSDL) is India's leading market infrastructure institution, registered with the Securities and Exchange Board of India (SEBI). Since the enactment of the Depositories Act in 1996, NSDL has been at the forefront of transforming India's securities market by introducing the dematerialisation of securities. This revolutionary step occurred in November 1996, marking a significant milestone in the Indian financial landscape. NSDL operates as a robust depository, providing a comprehensive framework that enables market participants to engage in India's financial and securities markets. The institution plays a central role in developing innovative products and services to address the evolving needs of the financial services industry in the country.

Avanse Financial Services Limited is an education-oriented NBFC leader in India. Its assets under management are the second largest in the market, and its ranking for loan disbursements and profit also leads within its peer group. This education advancement-focused NBFC has student loans available for both studies within the country and international study pursuits. Also, secured loans are available to support education institutions' growth and their infrastructure requirements. Beyond loans, value-added services including life, health, and travel insurance, wellness resources, foreign exchange, and financial health reports are all provided to customers through strategic third-party partnerships. Avanse operates at the grassroots level with a presence across 545 locations across 19 branches, supported by a 215-strong sales force and digital acquisition channel reach into major educational hubs as well as students across the country. Avanse stands for accessible education financing, which empowers students and institutions across the nation with committed, full-spectrum support. It has serviced 545 locations in India and maintained a hybrid presence by strategically combining its physical branch network of 19 branches and sales offices and its 215-strong sales team with the distribution network. As of March 31, 2024, the company's distribution network consisted of 320 active education advisors and aggregators (agents specializing in education loans), 452 direct sales agents (DSAs), and the direct acquisition channel, which includes the digital marketing initiatives and referrals from existing customers.

A diversified financial services company, Hero FinCorp offers two-wheeler financing, advances for buying homes in the affordable housing segment, loans for education, and lends to the small and medium enterprise sector. The lender has presence in over 4,000 cities and towns across India and nearly 2,000 retail financing touchpoints within Hero MotoCorp's network.

Polymatech Electronics Limited was originally incorporated as Polymatech Electronics Private Limited on May 29, 2007. The company is the first opto-semiconductor chips manufacturer in India. They have a manufacturing facility in Kancheepuram, Tamil Nadu and have bought a BTS (Built to Suit) facility in Krishnagiri, Tamil Nadu. The products of the company are categorised as fully packaged opto-semiconductor chips and luminaries, which are LED lights used for commercial purposes. They began the opto-semiconductor chips production in 2019 and use European and Japanese technologies to offer high-quality products to meet international standards. The company designs, fabricates, manufactures, packs and assembles the opto-semiconductor chips and sells them directly to customers. These chips are also used in their luminary assembly. The company’s luminaries are installed at several factories, temples and stadiums, such as Vishay Precision Group, Shin-Etsu, Japan, Sawai Mansingh Stadium, Parthasarathi Temple, Chennai and more. The opto-semiconductor industry in the world is expected to touch USD 59,224 million by 2028 from USD 43,780 million in 2022. The growth is primarily driven by the automotive sector and infrastructure providers to provide lighting in commercial spaces or households. The company can benefit from the demand.

Capital Small Finance Bank Limited is a a small finance bank. In 2015, Capital SFB became the first non-NBFC microfinance entity to receive the SFB license. The company has a strong presence in semi-urban and rural areas with a branch-based operating model. Capital Small Finance Bank targets middle-income customer segments with an annual income of ₹0.4-5 million. They aim to be the primary banker for these customers through a mix of product offerings, customer service, physical branches, and digital channels. Capital Small Finance Bank is headquartered in Jalandhar, Punjab and has strategically expanded its SFB operations in northern states of India such as Punjab, Haryana, Rajasthan, Delhi, Himachal Pradesh and UT Chandigarh. As of June 30, 2023, Capital Small Finance Bank had a presence in five states and one union territory, with a total of 172 branches and 174 ATMs. The bank's branches were predominantly located in rural and semi-urban areas, covering 24 districts, and serving approximately 75.90% of the total customers, both in terms of credit and deposits. This suggests that the bank has a well-defined niche catering to the middle-income group, with a special emphasis on rural and semi-urban areas. As of March 31 and June 30, 2023, respectively, 99.82% and 99.84% of the bank's loan book was secured, with 85.16% and 84.66% of loans secured by immovable properties. The average ticket size of Capital Small Finance Bank agriculture, MSME and trading, and mortgage lending products as of March 31, 2023, were ₹ 1.23 million, ₹ 1.82 million, and ₹ 1.16 million respectively. As of June 30th, 2023, Capital Small Finance Bank has a total of 1827 employees working for the organization.