IPO Express Gains Momentum with Anmol, Koolking, and Five Others Filing with SEBI

India’s primary markets witnessed a significant uptick as seven companies, including Anmol Industries and Koolking Industries, filed draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (SEBI) in 2024. This wave of initial public offerings (IPOs) represents growing investor interest and expanding capital market activities across diverse sectors.

Anmol Industries Sets the Stage with Rs 1,800 Crore IPO

Kolkata-based Anmol Industries, a prominent player in the Indian packaged foods sector, marked its return to the public market with the filing for an initial public offering aiming to raise up to Rs 1,800 crore. Unlike a fresh issue, this IPO is an entirely offer-for-sale (OFS) by the promoter entity Baijnath Choudhary & Family Trust, implying that the company itself will not receive proceeds from the sale.

Established in 1994 and officially incorporated in 2009, Anmol Industries operates seven manufacturing facilities across key regions such as Uttar Pradesh, Bihar, West Bengal, and Odisha. With a product portfolio spanning biscuits, cookies, cakes, bakery products, and Indian sweets under about 70 brands including Dream Lite, Butter Bake, and Marie Plus, it enjoys a wide geographic reach selling in over 4,200 pin codes across 24 states and two union territories. The company also exports to 31 countries.

Financially, Anmol reported a revenue of approximately Rs 2,102 crore and a net profit of Rs 191 crore for the fiscal year ended March 2026, showcasing a strong performance trend. The IPO filing follows an earlier attempt in 2018 which the company did not pursue.

Koolking Industries’ ₹300 Crore Fresh Issue and Promoter Sell-Down

Punjab-based Koolking Industries, specializing in manufacturing heating, ventilation, and air conditioning (HVAC) components, has filed its draft red herring prospectus with SEBI to raise Rs 300 crore through a fresh issue. The offering also includes an offer-for-sale of up to 30.5 lakh shares by promoters.

Founded in 2008, Koolking operates five manufacturing plants across Punjab, Uttar Pradesh, Rajasthan, and Andhra Pradesh with an aggregate capacity to produce nearly 42 crore units annually. Its products cater to commercial and residential air conditioning and refrigeration markets.

The company recorded a profit of Rs 33.2 crore in fiscal 2026, up 22.4% from the previous year, with revenues growing 9% to Rs 527 crore. Notably, Koolking may also consider raising up to Rs 60 crore via a pre-IPO placement, which would reduce the size of the fresh issue accordingly.

Additional Firms Join the IPO Wave

Alongside Anmol and Koolking, five other companies have submitted draft IPO filings with SEBI, reflecting a broader revival in the Indian primary market. While specifics of these filings cover sectors including infrastructure, manufacturing, and consumer goods, the filings collectively represent fresh capital seeking to tap India’s growing economy and investor appetite.

Why This Matters to Investors

The resurgence in IPO filings signals increased confidence among promoters and investors in India’s capital markets, particularly after a relatively subdued first half of the year. New IPOs provide investors opportunities to participate in varied sectors with growth potential.

For investors, monitoring the allotment of SEBI approvals, subscription levels during public offers, and post-listing performance will be critical. The OFS nature of some offerings, such as Anmol Industries, also means funds raised go back to promoters rather than the companies, a factor worth considering for investment decisions.

What to Watch Going Forward

Market participants should watch the timeline for approvals and dates of public offering launches for these companies. Economic conditions, sectoral demand, and regulatory developments will also shape IPO success.

Furthermore, the strategic use of proceeds—such as Koolking’s focus on capacity expansion—may influence long-term growth trajectories. Investors may also keep an eye on valuation levels set during pricing and subscription trends to gauge market appetite.

As more firms join this IPO momentum, the landscape for public market opportunities in India looks set to broaden, offering varied choices especially for investors seeking exposure to manufacturing, consumer goods, and infrastructure segments.