IPO - Initial Public Offering

Incorporated in 2007, Sunshine Pictures Limited is a film-making company that does the business of originating, developing, producing, creating, marketing, and distribution of films, TV serials, and web series.The company is a technology-oriented content generator with expertise in pioneering commercial films, from script development to production, creation of intellectual property, rights monetization, and distribution. The company has been making good films such as 'Force', 'Commando', 'Holiday', 'Force 2', 'Commando 2', and 'The Kerala Story', earning a commercial success and tackling social significance.The company has made ten commercially successful films (six co-made), two web series, two TV serials, and one short film. It is in the process of co-making two movies with Jio Studios and one web series for Doordarshan. The company co-produces projects or single-produces them with established studios. The company keeps a ratio of co-produced and standalone projects, matching risk and revenue possibilities, mostly for large-budget productions.The company is present on social media platforms such as YouTube, Instagram, and Facebook. It has 162,960 subscribers on YouTube, 9.18 crore views, and 104,500 followers on Instagram and Facebook, earning extra revenue in the form of content streaming. As of 15th December 2024, the company has a total workforce of 28 full-time staff.

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.

Established in 2015, Veritas Finance Limited is a Reserve Bank of India registered Non-banking financial company (NBF). Being a diversified, retail NBFC, the company mainly provides small business loans to MSMEs and self-employed individuals and has diversified further into home loans and second-hand commercial vehicle loans.The company bridges the credit gap of financially underserved MSMEs and individuals by providing products such as working capital loans, housing loans, used commercial vehicle loans, and small business loans. The company procures lead for Rural Business and Working Capital Loans in-house and employs direct selling agents for Affordable Home and Used Commercial Vehicle Loans, where 88.67% of loans are procured in-house. The company has a distribution network of 424 branches in 10 states and one union territory in India, with high density in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and West Bengal.As of September 30, 2024, the company has relationships with 36 lenders and 11 holders of debt securities, comprising banks, mutual funds, NBFCs, and alternate investment funds. As of September 30, 2024, the company has 7,704 full-time employees on payroll.

Incorporated in 1994, SK Finance Limited is a non-deposit-taking middle-layer Non-Banking Financial Company (NBFC-ML). The business deals in two main lending segments: Vehicle Financing MSME Financing (Micro, Small, and Medium Enterprises) Lending Segments Vehicle Financing: SK Finance Limited deals in secured financing of new as well as used cars including Commercial vehicles (excluding medium and heavy commercial vehicles), Cars, Tractors and Two-wheelers (new). MSME Financing: The firm also offers secured business loans to MSMEs, currently being made available through selected branches and to be extended through its wider network in the near future. Distribution Network: Total Branches: 535 branches as on 31st December 2023 Geographic Reach: Operating in 11 states and 1 union territory MSME Lending Reach: 322 branches in 8 states and 1 union territory Employees: As of 31st December 2023: Total employees: 10,725 including Sales team: 6,202 and Collection team: 1,607.

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.

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.

PhysicsWallah Limited is an Indian education technology start-up founded by Alakh Pandey in 2016 in the form of a YouTube channel dedicated to physics education. The firm was officially incorporated as PhysicsWallah Private Limited on June 6, 2020. It offers both online and offline education solutions to students in class 6 to class 12 and students preparing for competitive exams like JEE, NEET, and UPSC. Major Offerings: Online Courses– Video lectures, live interactive sessions, and doubt-clearing sessions for JEE, NEET, UPSC, and board exams. Offline Learning– More than 100 offline coaching centers spread throughout India, in addition to hybrid learning models. Study Material– Books, notes, and test series for assisting exam preparation. Mobile App & Website– Digital platforms providing affordable and accessible education.

Established in 2006, Credila Financial Services Limited is a non-banking financial institution (NBFC) dealing in education loans. The organization deals in providing finance to students for higher studies in India and overseas. Credila Financial Services Ltd, which was earlier HDFC Credila Financial Services Ltd, offers tailor-made education loans with easy payment terms, to meet the needs of students applying for undergraduate and postgraduate courses.

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.

Incorporated in November 2013, Imagine Marketing Limited is a consumer products company with a digital-first approach. The company provides a broad portfolio of high-quality, lifestyle-oriented consumer products at affordable price points, under its brands boAt. The company provides products across a range of price points and customer segments in several product categories, which include: Audio (wired earphones and headphones, wireless earphones and headphones (neckbands), true wireless stereo (TWS), Bluetooth speakers, home theater systems and sound bars) Wearables (smartwatches) Gaming accessories (wireless and wired headsets, mouse and keyboards) Personal care appliances (trimmers and grooming kits) Mobile accessories (chargers, cables, power banks and other accessories).

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.

SMPP Limited is a manufacturer and designer of defence equipment. The company produces ammunition parts, personal protection items and protection kits for land, air and sea platforms. The product range of the company encompasses Bullet Resistant Jackets, Bullet Resistant Helmets, Bullet Resistant Hard Armor Plates, Bullet Resistant Shields and Combustible Cartridge Cases. The company serve the equipment needs of the armed forces, police, paramilitary and other security forces. The company has been exporting our personal protection products since 2008 and has shipped the products to customers in 23 countries of Europe and Asia during April 1, 2021 to June 30, 2024. The manufacturing facility of the company is located in Palwal, Haryana, India (Palwal Manufacturing Facility).

Start-up in 2017, Groww is a Bengaluru fintech firm that offers mutual fund, stock, F&O, ETF, IPO, digital gold, and US stock investing platforms for retail investors in India. Its mobile application is most sought after by mutual fund investors. Groww provides value-added products like Margin Trading Facility (MTF), algorithmic trading, New Fund Offers (NFOs), and credit solutions as well. Groww is now India's largest retail stockbroker in terms of active customers

Established in1987, Paras Health is a healthcare service provider having a chain of hospitals spread over North India, Bihar, and Jharkhand. As of March 31, 2024, Paras Health had a combined bed capacity of 2,135 beds, which ranked the company as the fifth-largest healthcare service provider by bed capacity among its peers in these locations. The organization has eight hospitals with the Paras Health brand, namely Gurugram and Panchkula (Haryana), Patna and Darbhanga (Bihar), Kanpur (Uttar Pradesh), Udaipur (Rajasthan), Ranchi (Jharkhand), and Srinagar (Jammu and Kashmir, UT). Paras Health increased its bed strength from 1,250 beds in March 2022 to 2,135 beds in March 2024. As of March 31, 2024, the company had a medical staff of 1,091 doctors and 1,509 nurses at its hospitals.

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.

Incorporated in 2007, Sunshine Pictures Limited is a film-making company that does the business of originating, developing, producing, creating, marketing, and distribution of films, TV serials, and web series.The company is a technology-oriented content generator with expertise in pioneering commercial films, from script development to production, creation of intellectual property, rights monetization, and distribution. The company has been making good films such as 'Force', 'Commando', 'Holiday', 'Force 2', 'Commando 2', and 'The Kerala Story', earning a commercial success and tackling social significance.The company has made ten commercially successful films (six co-made), two web series, two TV serials, and one short film. It is in the process of co-making two movies with Jio Studios and one web series for Doordarshan. The company co-produces projects or single-produces them with established studios. The company keeps a ratio of co-produced and standalone projects, matching risk and revenue possibilities, mostly for large-budget productions.The company is present on social media platforms such as YouTube, Instagram, and Facebook. It has 162,960 subscribers on YouTube, 9.18 crore views, and 104,500 followers on Instagram and Facebook, earning extra revenue in the form of content streaming. As of 15th December 2024, the company has a total workforce of 28 full-time staff.

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.

Established in 2015, Veritas Finance Limited is a Reserve Bank of India registered Non-banking financial company (NBF). Being a diversified, retail NBFC, the company mainly provides small business loans to MSMEs and self-employed individuals and has diversified further into home loans and second-hand commercial vehicle loans.The company bridges the credit gap of financially underserved MSMEs and individuals by providing products such as working capital loans, housing loans, used commercial vehicle loans, and small business loans. The company procures lead for Rural Business and Working Capital Loans in-house and employs direct selling agents for Affordable Home and Used Commercial Vehicle Loans, where 88.67% of loans are procured in-house. The company has a distribution network of 424 branches in 10 states and one union territory in India, with high density in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and West Bengal.As of September 30, 2024, the company has relationships with 36 lenders and 11 holders of debt securities, comprising banks, mutual funds, NBFCs, and alternate investment funds. As of September 30, 2024, the company has 7,704 full-time employees on payroll.

Incorporated in 1994, SK Finance Limited is a non-deposit-taking middle-layer Non-Banking Financial Company (NBFC-ML). The business deals in two main lending segments: Vehicle Financing MSME Financing (Micro, Small, and Medium Enterprises) Lending Segments Vehicle Financing: SK Finance Limited deals in secured financing of new as well as used cars including Commercial vehicles (excluding medium and heavy commercial vehicles), Cars, Tractors and Two-wheelers (new). MSME Financing: The firm also offers secured business loans to MSMEs, currently being made available through selected branches and to be extended through its wider network in the near future. Distribution Network: Total Branches: 535 branches as on 31st December 2023 Geographic Reach: Operating in 11 states and 1 union territory MSME Lending Reach: 322 branches in 8 states and 1 union territory Employees: As of 31st December 2023: Total employees: 10,725 including Sales team: 6,202 and Collection team: 1,607.

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.

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.

PhysicsWallah Limited is an Indian education technology start-up founded by Alakh Pandey in 2016 in the form of a YouTube channel dedicated to physics education. The firm was officially incorporated as PhysicsWallah Private Limited on June 6, 2020. It offers both online and offline education solutions to students in class 6 to class 12 and students preparing for competitive exams like JEE, NEET, and UPSC. Major Offerings: Online Courses– Video lectures, live interactive sessions, and doubt-clearing sessions for JEE, NEET, UPSC, and board exams. Offline Learning– More than 100 offline coaching centers spread throughout India, in addition to hybrid learning models. Study Material– Books, notes, and test series for assisting exam preparation. Mobile App & Website– Digital platforms providing affordable and accessible education.

Established in 2006, Credila Financial Services Limited is a non-banking financial institution (NBFC) dealing in education loans. The organization deals in providing finance to students for higher studies in India and overseas. Credila Financial Services Ltd, which was earlier HDFC Credila Financial Services Ltd, offers tailor-made education loans with easy payment terms, to meet the needs of students applying for undergraduate and postgraduate courses.

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.

Incorporated in November 2013, Imagine Marketing Limited is a consumer products company with a digital-first approach. The company provides a broad portfolio of high-quality, lifestyle-oriented consumer products at affordable price points, under its brands boAt. The company provides products across a range of price points and customer segments in several product categories, which include: Audio (wired earphones and headphones, wireless earphones and headphones (neckbands), true wireless stereo (TWS), Bluetooth speakers, home theater systems and sound bars) Wearables (smartwatches) Gaming accessories (wireless and wired headsets, mouse and keyboards) Personal care appliances (trimmers and grooming kits) Mobile accessories (chargers, cables, power banks and other accessories).

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.

SMPP Limited is a manufacturer and designer of defence equipment. The company produces ammunition parts, personal protection items and protection kits for land, air and sea platforms. The product range of the company encompasses Bullet Resistant Jackets, Bullet Resistant Helmets, Bullet Resistant Hard Armor Plates, Bullet Resistant Shields and Combustible Cartridge Cases. The company serve the equipment needs of the armed forces, police, paramilitary and other security forces. The company has been exporting our personal protection products since 2008 and has shipped the products to customers in 23 countries of Europe and Asia during April 1, 2021 to June 30, 2024. The manufacturing facility of the company is located in Palwal, Haryana, India (Palwal Manufacturing Facility).

Start-up in 2017, Groww is a Bengaluru fintech firm that offers mutual fund, stock, F&O, ETF, IPO, digital gold, and US stock investing platforms for retail investors in India. Its mobile application is most sought after by mutual fund investors. Groww provides value-added products like Margin Trading Facility (MTF), algorithmic trading, New Fund Offers (NFOs), and credit solutions as well. Groww is now India's largest retail stockbroker in terms of active customers

Established in1987, Paras Health is a healthcare service provider having a chain of hospitals spread over North India, Bihar, and Jharkhand. As of March 31, 2024, Paras Health had a combined bed capacity of 2,135 beds, which ranked the company as the fifth-largest healthcare service provider by bed capacity among its peers in these locations. The organization has eight hospitals with the Paras Health brand, namely Gurugram and Panchkula (Haryana), Patna and Darbhanga (Bihar), Kanpur (Uttar Pradesh), Udaipur (Rajasthan), Ranchi (Jharkhand), and Srinagar (Jammu and Kashmir, UT). Paras Health increased its bed strength from 1,250 beds in March 2022 to 2,135 beds in March 2024. As of March 31, 2024, the company had a medical staff of 1,091 doctors and 1,509 nurses at its hospitals.

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.