<ul><li>Financial Performance (Q2 FY26 vs Q2 FY25): <a target="_blank" href="https://www.planify.in/research-report/hdfc-securities-limited/">HDFC Securities</a> reported a weaker financial performance in Q2 FY26, with total revenue declining by 23.2% year-on-year (YoY) to ₹701 crore, compared to ₹913 crore in Q2 FY25. The decline was mainly due to lower fees and commission income along with losses on fair value changes during the quarter. Profit Before Tax (PBT) fell by 31.6% YoY to ₹282 crore from ₹412 crore in the same quarter last year. Profit After Tax (PAT) declined by 33.2% YoY to ₹211 crore, compared to ₹315 crore in Q2 FY25. Earnings Per Share (EPS) also declined by 33.8% YoY to ₹118.2, from ₹178.5 last year.</li><li>Operational Metrics (Q2 FY26 vs Q2 FY25): Operational performance saw pressure on margins during the quarter. Operating margin declined to 40% in Q2 FY26 from 45% in Q2 FY25, while net profit margin reduced to 30% from 35% last year. The interest service coverage ratio stood at 2.9 times, slightly lower than 3.0 times in Q2 FY25, reflecting higher finance costs. The debt-to-equity ratio remained elevated at 3.39 times, while debtors turnover improved to 0.9 times from 0.8 times, indicating better collection efficiency.</li><li>Strategic Developments: During the quarter, the company allotted 83,382 equity shares under employee stock option schemes and granted 17,250 stock options, continuing its focus on employee retention. HDFC Securities also declared and paid an interim dividend of ₹90 per share, reflecting confidence in cash flows despite near-term earnings pressure. The GIFT City subsidiary remains small and had no material impact on consolidated performance. The company’s net worth increased to ₹3,520.1 crore, up 10.9% YoY, providing a strong capital base. The financial performance during the quarter reflects prevailing capital market conditions, including lower trading activity and subdued investor participation. While near-term results remain linked to market sentiment, the company’s prudent risk management and stable client base support long-term sustainability.</li></ul>

HDFC Securities Sees Earnings Pressure in Q2FY26

HDFC Securities Posts Weaker Q2FY26 Results

Financial Performance (Q2 FY26 vs Q2 FY25):&nbsp;<a target="_blank" href="https://www.planify.in/research-report/ikf-finance/">IKF Finance</a> reported a strong financial performance in Q2 FY26, with total income increasing by 37.6% year-on-year (YoY) to ₹222.42 crore, compared to ₹161.62 crore in Q2 FY25. The growth was primarily driven by a sharp rise in interest income, which grew 39.4% YoY to ₹207.2 crore, supported by steady loan book expansion and stable yields. Profit Before Tax (PBT) rose by 31.8% YoY to ₹61.0 crore from ₹46.3 crore in the corresponding quarter last year, despite higher impairment charges. Profit After Tax (PAT) increased by 31.9% YoY to ₹45.5 crore, compared to ₹34.5 crore in Q2 FY25. Earnings Per Share (EPS) improved to ₹5.85, up from ₹4.92 reported in the same quarter last year. Operational Metrics (Q2 FY26 vs Q2 FY25): Operational performance remained healthy during the quarter, supported by operating leverage and cost discipline. Net profit margin stood at 20.2% in Q2 FY26, broadly stable compared to 21.0% in Q2 FY25, despite elevated credit costs. The debt-to-equity ratio improved meaningfully to 2.31 times from 3.54 times last year, reflecting balance sheet strengthening through equity infusion. Capital adequacy remained strong at 30.9%, well above regulatory requirements.&nbsp; Strategic Developments: During the quarter, IKF Finance strengthened its balance sheet through preferential allotment of equity shares, supporting growth and deleveraging. Net worth increased sharply to ₹1,798.8 crore as of September 2025, up 92.6% YoY. The loan book expanded to ₹4,946.3 crore, reflecting steady disbursement momentum. The company maintained adequate liquidity, with a liquidity coverage ratio of 594.1%, providing comfort on near-term obligations. Overall performance in Q2 FY26 reflects strong growth momentum, improving leverage metrics, and stable asset quality, with credit costs and funding conditions remaining key monitorables going forward. ​

IKF Finance Q2 FY26: Strong growth momentum with stable asset quality and improving leverage

After years of private market buildup and strategic equity infusions, Arohan Financial Services is finally on track for a long-awaited public market debut. Industry watchers and company insiders alike now expect the <a href="https://www.planify.in/research-report/arohan-financial-services/">Arohan Financial Services IPO</a> to hit the market within the next 12–15 months, potentially in FY27, marking a watershed moment for one of India’s leading microfinance institutions.&nbsp; This development signals renewed confidence from promoters, investors and regulators about both Arohan’s business fundamentals and the broader opportunity in financial inclusion lending. As India’s microfinance sector matures, the company’s IPO, if successful, could emerge as one of the most transformative listings from the NBFC-MFI segment in recent years. Business profile: a focused microfinance franchise Arohan operates as an NBFC-MFI, with lending largely directed towards women borrowers and micro-entrepreneurs in under-banked regions. Its loan book is concentrated in eastern and northern India, with a presence across states such as West Bengal, Bihar, Assam, Odisha and Uttar Pradesh. Unlike diversified NBFCs, Arohan has remained largely focused on microfinance, a segment that demands strong risk controls, local underwriting knowledge and close borrower engagement. This focus has helped the company build operational depth, even as the sector has seen periodic stress from regulatory changes and regional disruptions. Founded as a focused microfinance institution, Arohan has spent the past decade building scale with the support of long-term <a href="https://www.planify.in/investors/">institutional investors</a>. Backed by the Aavishkaar Group and other global impact-focused funds, the company has prioritized measured growth, capital discipline and governance, key prerequisites for a public listing. Over the years, Arohan has raised multiple rounds of private capital, allowing early investors to partially de-risk while funding expansion into new geographies. The proposed IPO would mark the next phase of this journey, offering public market investors a chance to participate in a business that sits at the intersection of financial inclusion and regulated lending. From Private Equity Backing to Public Markets Arohan’s journey toward an IPO has been marked by a steady transition from private equity capital to broader market readiness. Backed by the Aavishkaar Group, the firm has attracted significant institutional interest over the years from sponsors like ASK Financial Holding, the Michael &amp; Susan Dell Foundation, and other global development finance entities.&nbsp; Unlike a flash-to-market listing, Arohan’s timeline allows for:<ul><li style="font-size: 16px;color: rgb(34, 34, 34);background-color: transparent">Advisor selection and due diligence</li><li style="font-size: 16px;color: rgb(34, 34, 34);background-color: transparent">Prospectus drafting and SEBI review</li><li style="font-size:16px;color:#222222;background-color:transparent">Roadshows and institutional book-building</li><li style="font-size:16px;color:#222222;background-color:transparent">Market-condition assessment for valuation</li></ul> What investors will watch closely As Arohan moves closer to filing its draft prospectus, several aspects will be under scrutiny: <ul><li style="font-size:16px;color:#222222;background-color:transparent">Asset quality trends and regional concentration</li><li style="font-size:16px;color:#222222;background-color:transparent">Cost of funds and margin sustainability</li><li style="font-size:16px;color:#222222;background-color:transparent">Borrower growth versus credit discipline</li><li style="font-size:16px;color:#222222;background-color:transparent">Corporate governance and promoter intent post-listing</li></ul>​Microfinance IPOs tend to be evaluated conservatively by the market, given the sector’s sensitivity to economic cycles and regulatory oversight. How Arohan positions itself on these parameters will play a key role in investor response. Financial Snapshot Financially, Arohan crossed ₹1,580 crore in revenue in FY25, while returning to profitability with ₹110 crore in net profit. Asset quality remains controlled, with net NPAs under 0.5%, a key metric public-market investors track closely in microfinance businesses. Asset Quality Gross NPA: ~2.77–2.85%Net NPA: ~0.47–0.53%&nbsp;Capital Adequacy Ratio (CAR): 34.09% Conclusion Arohan Financial Services’ journey toward a public listing reflects a lender that has moved beyond rapid expansion and into a phase of consolidation and balance-sheet strengthening. The contrast between FY24’s strong profitability and FY25’s moderation highlights the realities of operating in the microfinance segment—where asset quality, regulatory discipline, and capital buffers matter more than headline growth. With a scaled national presence, a seasoned investor base led by Aavishkaar Group, and a clear focus on risk management, Arohan enters its IPO preparation phase with the fundamentals of a mature NBFC-MFI. The company’s recent emphasis on provisioning, capital adequacy, and controlled portfolio growth signals alignment with public-market expectations rather than short-term performance optics. As India’s microfinance sector gradually regains stability and investor confidence, Arohan’s move toward listing stands as a reflection of the sector’s evolving maturity. The coming months will define how effectively the lender positions its long-term growth narrative within the framework of transparency, governance, and sustainable returns—elements that increasingly define credibility in India’s capital markets.

After years of private market buildup and strategic equity infusions, Arohan Financial Services is finally on track for a long-awaited public market debut. Industry watchers and company insiders alike now expect the Arohan Financial Services IPO to hit the market within the next 12–15 months, potentially in FY27

Arohan Financial Services Moves Closer to IPO, Launch Timeline Set at 12–15 Months

For decades, Studds has been synonymous with affordable, mass-market helmets.&nbsp; <a target="_blank" href="https://www.planify.in/research-report/studds-accessories/">Studds Accessories Limited</a>&nbsp; formally an Indian manufacturer of two-wheeler helmets and motorcycle accessories has been a dominant name in head protection for riders. Founded in 1983 by the Khurana family, with Madhu Bhushan Khurana and Sidhartha Bhushan Khurana in leadership roles, Studds Accessories has spent nearly four decades building India’s largest helmet manufacturing business. The company’s portfolio spans full-face, open-face, flip-up helmets and a range of riding gear marketed under its own brand names: Studds and SMK. From Mass to Premium: The Strategic Shift India’s largest two-wheeler helmet maker is accelerating its shift up the value chain, aiming to double the share of premium helmets in its revenue mix over the next two years, a move that signals changing consumer behaviour as much as corporate strategy. According to industry commentary and statements from the company’s Managing Director, Studds Accessories expects to double the revenue share of premium helmets from around 15.5% to ~30% within the next two years.​The backdrop is compelling. India remains the world’s largest two-wheeler market, but helmet consumption is evolving beyond basic compliance. Rising disposable incomes, stricter safety awareness, and aspirational buying especially among urban riders are pushing demand toward higher-priced, feature-rich helmets. Studds is positioning itself right at this intersection. <ul><li>Premium helmets, typically priced multiple times higher than entry-level models, offer structurally better margins. For Studds, this means profit growth can outpace volume growth, even if overall industry demand remains steady.</li></ul><ul><li>The company has been expanding its premium portfolio with better ventilation systems, lighter materials, aerodynamic designs, and global safety certifications, features that appeal to both domestic riders and export markets.</li></ul><ul><li>Exports are another quiet lever. Studds already has a strong overseas presence, and premium products improve competitiveness in developed markets where pricing power is higher and safety norms are tighter. As premium penetration rises, average realisation per helmet improves, reducing dependence on sheer volume-led growth.</li></ul>

India’s largest two-wheeler helmet maker is accelerating its shift up the value chain, aiming to double the share of premium helmets in its revenue mix over the next two years, a move that signals changing consumer behaviour as much as corporate strategy.

Studds Bets Big on Premium Helmets as India Trades Up on Safety and Style

India’s largest asset manager is finally stepping into the public-market spotlight. SBI Mutual Fund has initiated the process of appointing merchant bankers, a formal signal that the long-anticipated SBI mutual fund IPO has moved from intent to execution.&nbsp; Over the past week, the asset manager has begun formally appointing merchant bankers and other service providers, the first concrete step in what company insiders describe as a 12-month timeline to take the firm public. Strategic Partnership: How Amundi Became a Key Promoter​Unlike many Indian IPOs driven by a single domestic promoter, SBI Mutual Fund is the product of a long-standing joint venture between the State Bank of India (SBI) and Amundi, the European asset management powerhouse.&nbsp; Amundi headquartered in Paris and one of Europe’s largest asset managers with over €2.2 trillion in assets under management brought international asset-management expertise and global best practices into the partnership. This collaboration has helped SBI Mutual Fund grow beyond its domestic roots, combine expansive distribution with global investment frameworks, and position itself as a market leader in India’s mutual fund industry.&nbsp; Today, SBI holds roughly 61.98% of the company, while Amundi holds 36.40% through its wholly owned subsidiary Amundi India Holding, with a small remainder held by other investors. The move follows board approvals at the promoter level to pare a portion of stakes and test investor appetite for one of the country’s most-watched asset-management listings. SBI and Amundi plan to offer roughly 10% of SBI Funds Management to the market with SBI putting up about 6.3% and Amundi about 3.7% through an offer-for-sale structure, according to exchange filings and company announcements. That packaging keeps the company’s operating control firmly with existing promoters while unlocking value through a market price discovery process. Why the merchant-banker call matters In IPO journeys, hiring merchant bankers is where seriousness begins. It triggers forensic due diligence, regulatory preparation, and the earliest valuation conversations. For SBI Mutual Fund, this step indicates that the promoters State Bank of India and Amundi are confident enough about market conditions and internal readiness to move ahead. Given the scale of operations and regulatory sensitivity around asset management businesses, the bankers’ role will be critical. They will shape the draft red herring prospectus (DRHP), determine the optimal offer-for-sale structure, and anchor institutional demand. For investors tracking the sbi mutual fund IPO, this phase will define the contours of the listing more than any headline valuation number. Market Leadership and Competitive Standing One of the key and major reasons why the <a href="https://www.planify.in/research-report/sbi-mutual-fund-share-price/">SBI mutual fund IPO</a> is enthusiastically anticipated is the scale size and market position the company commands and holds. As of September 2025, SBI Mutual Fund managed and represented around ₹12 lakh crore in assets, encompassing both traditional mutual funds and alternate investments.&nbsp; This translates into a market share of about 15.55%, the largest of any asset manager in India, making it the undisputed leader in a rapidly expanding mutual-fund and growing landscape.&nbsp; Such scale matters. In a business where recurring fee income, net inflows, and <a href="https://www.planify.in/investors/">investor trust</a> drive long-term profitability, leading market share provides structural advantages over peers, especially in buoyant equity markets and rising SIP flows. What the unlisted market is already signalling Even before formal IPO pricing, the unlisted market has been actively tracking SBI Mutual Fund. Recent transactions indicate an&nbsp;<a href="https://www.planify.in/research-report/sbi-mutual-fund-share-price/">SBI Mutual fund share price</a> of around ₹2,429 per share, reflecting strong demand and high expectations from investors ahead of the IPO. This price level suggests that the market is already discounting: <ul><li style="font-size:16px;color:#222222;background-color:transparent">Leadership position in AUM</li><li style="font-size:16px;color:#222222;background-color:transparent">Strong parentage and distribution strength via SBI</li><li style="font-size:16px;color:#222222;background-color:transparent">Consistent profitability and operating leverage</li><li style="font-size:16px;color:#222222;background-color:transparent">Brand credibility and low business risk relative to peers</li></ul> However, it’s important to note that unlisted prices are indicative, not definitive. Once the DRHP is filed, valuation will be tested against listed peers, growth assumptions, and regulatory headwinds. How the market may value SBI Mutual Fund From an analytical perspective, SBI Mutual Fund’s valuation will be assessed against listed peers such as HDFC AMC and Nippon Life India AMC. Key drivers will include: <ul><li style="font-size:16px;color:#222222;background-color:transparent">Consistency of net inflows across market cycles</li><li style="font-size: 16px;color: rgb(34, 34, 34);background-color: transparent">Mix between active and passive products</li><li style="font-size: 16px;color: rgb(34, 34, 34);background-color: transparent">Margin sustainability amid fee pressure</li><li style="font-size: 16px;color: rgb(34, 34, 34);background-color: transparent">Growth in retail participation via SIPs</li></ul> At an unlisted SBI Mutual fund share price of ₹2,429, the implied valuation already places the company in the upper band ofM of AMC multiples. The final IPO pricing will need to strike a balance—rewarding quality while leaving room for long-term compounding. Conclusion SBI Mutual Fund kicks off IPO and the price discovery has already begun with Merchant-banker hunt signals a 12-month sprint to market.&nbsp; SBI mutual fund IPO is now visible, structured, and time-bound. The unlisted&nbsp;<a href="https://www.planify.in/research-report/sbi-mutual-fund-share-price/">SBI Mutual fund share price</a> of ₹2,429 shows that expectations are already high but the real test will come when institutional investors weigh growth certainty against valuation comfort.

India’s largest asset manager is finally stepping into the public-market spotlight. SBI Mutual Fund has initiated the process of appointing merchant bankers

SBI Mutual Fund Begins Hiring Merchant Bankers for Upcoming IPO; check for Key Details

What began as a ₹75-lakh funding pitch on Shark Tank India has translated into tangible market gains for investors. Ravelcare, the personal-care brand that gained early visibility through the show, delivered a ~55% listing premium on its SME IPO turning a televised pitch into a real capital-market outcome. About Ravelcare Ravelcare began as a digital-first beauty and personal care brand founded in 2018 by Ayush Varma, offering personalised haircare, skincare, and bodycare products through its own website and major marketplaces like Amazon, Flipkart, and Myntra. Its early strategy combined data-driven formulation with direct-to-consumer engagement, a model that helped it carve out a niche in a highly competitive category.&nbsp; Shark Tank India Spotlight<ul><li><a target="_blank" href="https://www.planify.in/video-shorts/shark-tank-to-ipo-ravelcare-smeipo-d2cbrand-ipostory-planify/">Ravelcare</a> appeared on Shark Tank India Season 2, where Ayush Varma pitched for ₹75 lakh for a 2.5% equity stake, valuing the business at around ₹30 crore. The show created a significant boost in brand awareness and online traction. In the episode, investor Anupam Mittal offered ₹75 lakh for a 10% stake, with the condition that the company hit projected numbers within two years.&nbsp;</li></ul><ul><li>However, public records and reporting do not confirm any post-show deal actually closing on those terms. What the brand did gain from the exposure was elevated consumer recognition and stronger engagement, which helped bolster demand heading into its IPO.</li></ul> RavelCare IPO Performance The IPO drew exceptional investor interest, with overall subscription reaching 437.6 times, led by retail, NII, and QIB bids. Anchor investors had already committed ₹6.83 crore before the public bid opened. On December 8, 2025, Ravelcare debuted on the BSE SME platform at around ₹201 per share, roughly a 55% premium above its ₹130 issue price, marking a rare and strong listing performance for an SME consumer brand. The Shark Tank appearance served more as a brand catalyst than a traditional funding milestone. Its real value for investors lies in the company’s execution track record, retail traction, and how effectively it deploys capital toward deeper penetration, distribution, and manufacturing integration.

What began as a ₹75-lakh funding pitch on Shark Tank India has translated into tangible market gains for investors. Ravelcare, the personal-care brand that gained early visibility through the show, delivered a ~55% listing premium on its SME IPO turning a televised pitch into a real capital-market outcome.

Ravelcare: From Shark Tank Spotlight to Stock Market Debut

India’s unlisted ecosystem, a space once considered niche but now standing at the intersection of regulation, investor appetite, and startup maturity. What began as a quiet corner of <a href="https://www.planify.in/markets/">private markets</a> has now evolved into a semi-mainstream investment avenue, buoyed by rising Pre-IPO activity, sharper disclosures, and SEBI’s growing intent to bring this market under a structured regulatory framework. Through the year, conversations around a dedicated SEBI-approved platform for unlisted securities became louder. While the regulator did not roll out a full-fledged marketplace, a major jumpi its working groups and consultation papers made it clear: transparency, price-discovery, and investor safeguards would eventually shape the next phase of the <a target="_blank" href="https://www.planify.in/unlisted-shares/">unlisted market</a>. For platforms like <a href="https://www.planify.in/">Planify</a>, which operate on structured due diligence, the developments signaled both validation and responsibility. At the same time, 2025 witnessed significant churn. Some companies rode a surge in financial performance or Pre-IPO demand, while others corrected sharply reflecting business headwinds, governance concerns, or shifts in sectoral cycles. This article walks through the&nbsp; full recap of how the unlisted share market moved in 2025, based on performance:&nbsp; winners and losers, sentiment, and the broader ecosystem narrative. 2025 was the year India’s unlisted market stopped being a shadow of public markets and began acting like a leading indicator.&nbsp; The Macro Picture Three structural threads pulled the unlisted market forward this year: A large IPO pipeline and active DRHP filings. Many late-stage startups and sizable private firms prepared prospectuses, signaling potential exits and making their private shares more interesting to buyers who wanted a pre-listing entry. SEBI’s public roster of DRHPs throughout 2025 confirms the renewed IPO thrust.&nbsp; India crossed roughly 21 crore demat accounts by October 2025, a dramatic expansion that also increases the pool of investors with the basic infrastructure to hold unlisted shares legally in demat form. That widening investor base changed the demand dynamics for pre-IPO stock. Regulatory focus on bringing order to <a href="https://www.planify.in/pre-ipo/">pre-IPO trades</a>. SEBI’s chair has publicly discussed exploring a regulated platform for pre-IPO trading and pushed for disclosure requirements so investors get better information and pricing becomes less opaque. This signaled a likely institutionalization of a market that had long relied on informal networks and grey-market signals.&nbsp; Put together, these forces meant more flows, more scrutiny, and more price movement in select unlisted names especially those with credible exit timelines. Sectoral winners and losers: what actually moved Below are the Planify-tracked top gainers and laggards for 2025. These moves tell the real story of market sentiment. Top Gainers&nbsp; <div style="margin-left:0pt"><table><tbody><tr><td>Companies</td><td>Current Price</td><td>Returns(%)</td></tr><tr><td>Bolzen &amp; Mutter</td><td>₹400</td><td>105.13%</td></tr><tr><td>Philips Domestic Appliances India Ltd</td><td>₹976</td><td>87.69%</td></tr><tr><td>Fractal Analytics Pvt. Ltd.</td><td>₹2,048</td><td>36.53%</td></tr><tr><td>Hindustan Power Exchange</td><td>₹40</td><td>22.77%</td></tr><tr><td>ADMACH Systems</td><td>₹190</td><td>15.15%</td></tr><tr><td><a target="_blank" href="https://www.planify.in/research-report/esds-software-solutions-limited/">ESDS</a></td><td>₹510</td><td>14.86%</td></tr><tr><td><a href="https://www.planify.in/research-report/kineco-share-price/">Kineco</a></td><td>₹3,294</td><td>13.31%</td></tr><tr><td><a target="_blank" href="https://www.planify.in/research-report/ncdex/">NCDEX</a></td><td>₹495</td><td>10.74%</td></tr></tbody></table></div> Top Losers&nbsp;​<div style="margin-left:0pt"><table><tbody><tr><td>Companies</td><td>Current Price</td><td>Returns(%)</td></tr><tr><td>GH2 Solar</td><td>₹300</td><td>(77.20%)</td></tr><tr><td>Jupiter Solar Power</td><td>₹352</td><td>(49.62%)</td></tr><tr><td><a target="_blank" href="https://www.planify.in/research-report/apollo-green-energy-limited/">Apollo Green Energy Ltd</a>.</td><td>₹102&nbsp;</td><td>(38.18%)</td></tr><tr><td>PNB Finance &amp; Industries</td><td>₹9,775</td><td>(32.00%)</td></tr><tr><td>Schneider Electric President Systems</td><td>₹1,230</td><td>(31.44%)</td></tr><tr><td>Bira</td><td>₹180</td><td>(25.62%)</td></tr></tbody></table></div>

Conclusion The unlisted market in 2025 did not behave like a speculative fad. It matured: more companies disclosed, more institutions participated, and policy signals moved the space toward formalisation. Winners were generally companies with demonstrable operational traction or imminent IPO visibility; losers were capital-intensive firms or those with execution gaps. Crucially, SEBI’s intention to explore a regulated pre-IPO trading platform combined with growing demat penetration is the single most important structural change. If delivered with sensible disclosure and settlement protocols, it will convert much of the informal pre-IPO liquidity into a safer, more transparent market widening access while protecting investors.&nbsp; For investors, that means the unlisted market will continue to offer asymmetric returns but only for those who do homework, demand transparency, and recognize that illiquidity is the price of early access.

India’s unlisted ecosystem, a space once considered niche but now standing at the intersection of regulation, investor appetite, and startup maturity.

A year review and recap

How the Unlisted Market Moved in 2025: Gainers, Losers & Key Insights

Do you know India’s first indigenous thrombectomy device is being built by S3V Vascular? It’s the same company that secured India’s first licence for an expandable titanium spinal cage, placing it at the frontier of neuro-spine innovation. S3V Vascular Technologies, the Mysuru-based med-tech manufacturer, is emerging as one of India’s most ambitious players in neurovascular and cardiovascular devices. The company has spent the past decade building capabilities across stents, balloons, microcatheters, and guidewires. <ul><li>Backed by the Government of India’s Technology Development Board, S3V is developing India’s first fully indigenous mechanical thrombectomy device, a life-saving tool used to remove blood clots in stroke patients, a category long dominated by expensive imports.</li></ul><ul><li>S3V Vascular Technologies had earlier attracted backing from veteran investor Madhusudan Kela, reinforcing confidence in India’s indigenous medtech innovation story. </li></ul> S3V’s product family includes coronary devices (PTCA balloon catheters; 3V Paulo), stent systems (3V Siris/3V Neil), hydrophilic PTCA balloons, and newer neurovascular lines (Krome, clot-retriever concepts). The company is explicitly pursuing patents on key thrombectomy and catheter-construct innovations. That IP push is central to its strategy to move up the value chain, from contract manufacturing to proprietary, higher-margin devices. S3V raised significant private capital (reported ~₹300 crore in a recent funding round) from high-profile investors and industrial backers, and has committed capex for an integrated manufacturing unit, previously reported as a ₹70–300 crore scale investment depending on the phase of facility buildout.

S3V Vascular Technologies, the Mysuru-based med-tech manufacturer, is emerging as one of India’s most ambitious players in neurovascular and cardiovascular devices.

S3V Vascular Technologies: India’s Bold Bet on High-End Stroke & Cardiac Devices

<a target="_blank" href="https://www.planify.in/research-report/sun-drops-energia-share-price/">Sun Drops Energia Private Limited</a>, part of the KP Group and known for its presence in solar power EPC and clean-energy solutions has taken a major step toward scaling its corporate structure. The company has formally called an Extraordinary General Meeting (EGM) on December 29, 2025, seeking shareholder approval to convert from a private limited company into a public limited company. Sun Drops Energia Private Limited, the renewable energy arm of the KP Group’s KPI Green Energy platform, has strengthened its project pipeline by securing new contracts to develop solar power projects totaling 62.20 MW under the Captive Power Producer (CPP) segment. This order builds on Gujarat’s renewable energy push and expands the company’s operational footprint in the utility-scale solar sector. <ul><li>Under India’s Distributed Renewable Energy Bilateral Purchase (DREBP) Policy and the Gujarat Renewable Energy Policy-2023, Sun Drops Energia won Letters of Award from multiple clients to execute the projects, expected to be completed by FY 2025-26 in phased tranches.&nbsp;</li></ul><ul><li>This 62.20 MW addition brings the unit’s CPP portfolio to 152.34 MW, underpinning a broader order book of 1.60 GW in captive solar commitments held by KPI Green Energy and its subsidiaries.&nbsp;</li></ul><ul><li>Converting Sun Drops Energia into a public entity positions it to scale aggressively into solar, hybrid power, and emerging BESS opportunities.</li></ul> With expanding project wins, a deeper order pipeline, and a planned IPO on the horizon, Sun Drops Energia is shaping up as KPI Green's next growth engine aiming to move from a fast-scaling subsidiary to a capital-powered renewable platform.

Sun Drops Energia Private Limited, part of the KP Group and known for its presence in solar power EPC and clean-energy solutions has taken a major step toward scaling its corporate structure.

Sun Drops Energia Set to Convert Into a Public Company as It Prepares for a Larger Growth Push

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