Valmiki Leela Capital Eyes Rs 3,000-Cr IPO Pipeline After Maiden Mainboard Mandate

New Delhi: Valmiki Leela Capital on Tuesday said it is building an IPO pipeline worth around Rs 3,000 crore over the next 12 to 18 months after completing its maiden mainboard mandate, as the merchant banker expands its investment banking business across various sectors.

The Sebi-registered Category I merchant banker completed its first mainboard assignment with the Rs 460-crore initial public offering (IPO) of Deepa Jewellers, marking its entry into the mainboard issue segment.

Deepa Jewellers is a Hyderabad-based B2B gold jewellery platform.

The merchant banker’s upcoming mandates include proposed issues of around Rs 1,500 crore from the renewable energy and power sectors, followed by companies from pharmaceuticals, packaging and fast-moving electrical goods.

The proposed offerings are subject to regulatory approvals, market conditions and the respective companies’ timelines, Valmiki Leela Capital said in a statement.

“Completing our maiden mainboard IPO mandate establishes an important operating base for Valmiki Leela Capital’s investment-banking business.

“With a pipeline of approximately Rs 3,000 crore, our focus is now on preparing issuers for the standards of governance, disclosure and execution demanded by public markets,” Sandeep Gupta, Director at Valmiki Leela Capital, said.

The firm said its pipeline reflects the widening pool of manufacturing, infrastructure and consumer businesses seeking to access public capital. According to Pankaj Agrawal, Director, Valmiki Leela Capital, the next set of public-market candidates is emerging across manufacturing, energy infrastructure and domestic consumption.

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