Kent RO shelves IPO plans citing Middle East conflict-linked market uncertainty

Kent RO Systems has shelved plans to go public, its chairman told Reuters, as the Indian water-purifier maker becomes the latest company to delay its stock market debut with the Middle East conflict unsettling global markets and weakening sentiment. The Iran conflict has fuelled concerns over prolonged hostilities and heightened ‌market volatility, slowing ⁠listings ⁠from Hong Kong to London. In India, Walmart-backed PhonePe has also paused its IPO plans, while Reuters reported earlier this month that billionaire Mukesh Ambani's Reliance Jio Platforms had shifted its proposed IPO into a fundraising exercise without offering foreign investors a share sale. Kent received regulatory clearance last June for a public listing comprising an offer for sale by existing shareholders, ⁠including Chairman ‌and Managing Director Mahesh Gupta. "We are not in a hurry," Gupta said in an interview on Monday, adding that volatile ⁠markets, worsened by the Iran war, make this an unsuitable time to list. He ruled out an IPO for at least a year, but said the company could revisit plans once conditions stabilise. Gupta said Kent faces no immediate pressure to go public as it does not have foreign shareholders. The Middle East conflict is also pushing up transportation, metals and plastics costs, weighing on Kent's operations. ‌The company imports about 15% of its raw materials. The company has raised prices by about 2% since the conflict began, Gupta said, adding that it ⁠would reassess further increases depending on input costs. Kent's revenue rose to roughly 14 billion rupees ($146.77 million) in fiscal 2026 from about 12.60 billion rupees a year earlier. Gupta expects growth of around 15% in fiscal 2027, buoyed by still-low adoption of water purifiers in India, where researchers estimate 70% of groundwater is contaminated. Profits, however, could come under pressure from rising global input costs, Gupta said.