IPO pipeline heats up: CJ Darcl Logistics, Lalbaba Engineering, Pride Hotels and Jerai Fitness file DRHP with Sebi

India’s primary market is ever swelling with four more companies set to launch their initial public offerings (IPOs). In the list is South Korea’s logistics powerhouse CJ Logistics’ Indian arm CJ Darcl Logistics, Lalbaba Engineering, Pride Hotels and Jerai Fitness which have filed their Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi).

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CJ Darcl Logistics IPO

CJ Darcl Logistics, the India arm of South Korea’s logistics powerhouse CJ Logistics has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed Initial Public Offering, marking a major milestone in the company’s growth and a significant move for India’s logistics sector, subject to receipt of requisite approvals and market conditions.

The IPO comprises a fresh issue of up to 26,470,000 equity shares and an offer for sale (OFS) of up to 9,905,355 equity shares, as disclosed in the DRHP. The offer will be made via the book-building route with up to 50% reserved for qualified institutional buyers, not less than 15% for non-institutional investors, and not less than 35% for retail investors.

CJ Darcl Logistics is a subsidiary of CJ Logistics Corporation, one of South Korea’s largest logistics companies by revenue, the DRHP said citing a CRISIL report. Incorporated in 1986, the company is an integrated logistics service provider offering multimodal logistics and warehousing and distribution solutions to enterprise customers across India and select overseas markets. As of March 31, 2025, the company had a pan-India presence across 6,691 locations through 202 branch offices, 6 administrative offices, 14 warehousing facilities and 1 railway stock yard.

ICICI Securities and DAM Capital Advisors are the Book Running Lead Managers, and MUFG Intime India Private Limited is the registrar. The equity shares are proposed to be listed on BSE and NSE.

Lalbaba Engineering IPO

Lalbaba Engineering plans to raise up to Rs 630 crore from fresh issue while another Rs 370 crore from an offer for sale (OFS) where promoters Kishan Dhanuka, Amit Dhanuka, Nikunj Dhanuka, Nishit Dhanuka, LBIC Engineering Private Ltd and Kishan Dhanuka & Sons HUF will be the selling shareholders. The total IPO size will be Rs 1,000 crore.The proceeds from its fresh issuance worth Rs 271 crore will be utilised for funding capital expenditure requirement for expansion of its Haldia facility, and Rs 209 crore for pre-payment or repayment in full or part of certain borrowings of the company, and general corporate purposes.

The issue is being made through the book-building process and the company is in consultation with the book-running lead managers, may consider a pre-IPO Placement for up to Rs 126 crore. The pre-IPO placement if completed, the fresh issue size will be reduced.

Incorporated in 2006, the company is an engineering solutions company focussed on the development and manufacture of high-performance seamless tubes, precision forgings and integrated rail systems. The company operates at the intersection of advanced metallurgy, precision manufacturing, and end-to-end solutions delivery, which enables it to serve critical applications across railways, automotive, energy and industrial infrastructure.

Also Read: Augmont Enterprises files DRHP with Sebi to raise Rs 800 crore via IPO

Pride Hotels IPO

The New Delhi headquartered hospitality company will raise Rs 260 crore from the fresh issue while there will be an OFS of up to 39,239,446 equity shares of face value of Rs 5 each. The company is a homegrown Indian hospitality brand that owns, develops, operates, and manages a diversified chain of hotels and resorts under the ‘Pride Hotels and Resorts’ brand with over 38 years of experience in the hospitality industry.

In the OFS, Sureshchand Premchand Jain, Meena Sureshchand Jain, Satyen Suresh Jain, Namrata Garg, ASP Enterprises Private Limited, The Executive Inn Limited, Kopra Estate Private Limited and Pride Plaza (I) Private Limited are the promoter selling shareholders. Other promoter entities include Executive Housing Finance Co Limited, Pride Paradise & Development Private Limited, Pride Centre and Development Private Limited, Pride Orchards Private Limited, SP Realtors Private Limited, SP Capital Consultants Private Limited and SP Capital Financing Limited.

Motilal Oswal Investment Advisors Limited and JM Financial Limited are the Book Running Lead Managers to the issue.

Jerai Fitness IPO

Fitness equipment manufacturer Jerai Fitness has filed its DRHP with Sebi for an IPO which will be entirely an OFS. The offer comprises stake sale by Rajesh Ramsukh Rai, Rinku Rajesh Rai and Rajesh Ramsukh Rai HUF who are promoter selling shareholders.

The company offers equipment tailored to a diverse clientele of commercial gyms, hotels, corporations, and real estate projects, both in domestic and international markets, exporting to multiple countries like Japan, UAE, Australia, Serbia, Sweden, etc. The company’s long-standing presence has allowed it to develop key operational areas such as manufacturing processes, inventory management, distribution efficiency and customer service.

Jerai Fitness maintains a pan-India presence of 14 exclusive showrooms, enabling customer engagement and brand accessibility.

The equity shares offered are proposed to be listed on the BSE and the NSE.

Emkay Global Financial Services Limited and Catalyst Capital Partners Private Limited are the Book Running Lead Managers to the issue.

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