Archive · 23 Dec 2025
SEBI Approves IPOs for Three Companies
The Securities and Exchange Board of India (SEBI) has given the green light to three companies to raise money through initial public offerings (IPOs).
These companies are Dhariwal Buildtech, ESDS Software Solution, and BLS Polymers.
Dhariwal Buildtech plans to use the money to pay off debts, buy construction equipment, and cover other business needs.
ESDS Software Solution wants to buy cloud equipment, have money for daily operations, and build its brand.
BLS Polymers aims to expand its manufacturing, have working capital, and cover general business expenses.
All three IPOs will only issue new shares, with no existing shares being sold.
SEBI received the IPO papers between April and September 2025 and gave its observations in December 2025.
SEBI has approved IPOs for Dhariwal Buildtech, ESDS Software Solution, and BLS Polymers.
All three IPOs consist of fresh issues only, with no offer-for-sale component.
Dhariwal Buildtech plans to raise ₹950 crore for debt repayment, equipment purchase, and working capital.
ESDS Software Solution aims to raise ₹600 crore for cloud equipment, working capital, and brand building.
BLS Polymers seeks to raise ₹170 crore (1.7 crore shares) for manufacturing expansion, working capital, and general corporate purposes.
- Who
- SEBI, Dhariwal Buildtech, ESDS Software Solution, BLS Polymers
- What
- Approval of IPOs for three companies
- When
- December 15-19, 2025 (observations received)
- Where
- India
- Why
- To raise capital for various business purposes
- Companies
- Dhariwal Buildtech, ESDS Software Solution, BLS Polymers
- IPO Types
- Fresh issues only
- Dhariwal Buildtech IPO Size
- ₹950 crore
- ESDS Software IPO Size
- ₹600 crore
- BLS Polymers IPO Size
- ₹170 crore (1.7 crore shares)
- SEBI Observations Received
- December 15-19, 2025
- Dhariwal Buildtech IPO Uses
- Debt repayment, equipment purchase, working capital
- ESDS Software IPO Uses
- Cloud equipment, working capital, brand building
- BLS Polymers IPO Uses
- Manufacturing expansion, working capital, general corporate purposes