CHENNAI, India, May 26 (Reuters) - Kent RO Systems has put its initial public offering plans on hold, the Indian firm said on Tuesday, becoming the latest company to postpone its stock market listing amid the ongoing conflict in the Middle East that is destabilizing global markets and dampening sentiment.

Iran’s war exacerbated fears of continued hostilities and increased market volatility, leading to a slowdown in stock market listings from Hong Kong to London.

In India, Walmart-backed VonBee halted its initial public offering plans, while Reuters reported earlier this month that billionaire Mukesh Ambani's Reliance Jio Platforms had turned its proposed IPO into a fundraising effort without offering shares to foreign investors.

Last June, Kent received regulatory approval for its listing on the stock exchange, including a sale offer from existing shareholders, among them Chairman and Managing Director Mahesh Gupta.

"We are not in a hurry," Gupta said in an interview on Monday, adding that market volatility, exacerbated by the Iran war, makes this an inopportune time for a listing.

He ruled out an initial public offering for at least a year, but said the company might reconsider its plans once things stabilize.

Gupta said Kent is not currently under any pressure to conduct an initial public offering because it has no foreign shareholders.

The conflict in the Middle East is also driving up the costs of transportation, metals, and plastics, further straining Kent's operations. The company imports approximately 15 percent of the raw materials it needs.

Gupta stated that the company has raised its prices by about two percent since the start of the conflict, adding that it will reassess any further increases depending on input costs.

Kent's revenues rose to approximately 14 billion rupees ($146.77 million) in fiscal year 2026 from around 12.60 billion rupees the previous year. Gupta anticipates growth of approximately 15 percent in fiscal year 2027, supported by the currently low adoption of water purification devices in India, where researchers estimate that 70 percent of groundwater is contaminated.

However, Gupta said profits could come under pressure due to rising global input costs.

(1 US dollar = 95.3900 rupees)