Indian companies announce growth capital and IPO plans

Several Indian companies have announced significant financial developments. Rungta Greentech Limited, a specialist in recycled polymers and circular materials, has secured a second round of growth capital. The investment includes participation from 360 ONE Asset and other co-investors. The funds are intended to support expansion into food-grade recycled PET (rPET), recycled HDPE and PP, and textile-to-textile recycling, alongside investments in advanced processing technology.

In the public markets, Steamhouse India has announced an Rs 414-crore initial public offering (IPO) scheduled to open on September 9 and close on September 11, 2026. The company, which provides piped steam to industrial clusters, plans to use a portion of the proceeds to repay debt and fund infrastructure development and capacity expansion.

Additionally, Prism, the parent company of travel-tech firm OYO, is aiming to launch a Rs 6,650-crore IPO within the current fiscal year. Founder Ritesh Agarwal confirmed the intent to launch the offering, which consists entirely of fresh equity shares, to fund debt repayment and general corporate purposes.

Meanwhile, Maharashtra Seamless Ltd., a major steel pipe manufacturer, reported strong financial performance for FY26, showing year-on-year growth in both revenue and net profit.