India’s primary market pipeline continues to expand, with the Securities and Exchange Board of India (SEBI) approving initial public offerings of five companies across sectors including travel technology, housing finance, agriculture, industrial equipment and real estate.
The approved companies are:
- Prism (parent company of Oyo)
- Truhome Finance
- Advanta Enterprises
- Mehta Hitech Industries
- Veegaland Developers
The proposed issues include a mix of fresh share sales and offer-for-sale (OFS) components, with proceeds earmarked for expansion, debt strengthening and business growth.
Truhome Finance plans ₹3,000 crore IPO
The Warburg Pincus-backed Truhome Finance is looking to raise ₹3,000 crore through its public issue.
The IPO comprises:
- Fresh issue: ₹1,500 crore
- Offer for sale: ₹1,500 crore
The OFS portion will be undertaken by promoter Mango Crest Investment Ltd.
The company intends to use the fresh proceeds for:
- Strengthening its capital base.
- Meeting RBI-prescribed capital adequacy requirements.
- Supporting future lending growth.
- General corporate purposes.
Oyo parent Prism eyes ₹6,650 crore issue
Prism, the parent entity of travel-tech company Oyo, plans to raise ₹6,650 crore through its IPO.
The company had filed draft papers through SEBI’s confidential pre-filing route in December 2025.
Following regulatory approval, Prism is expected to file an updated draft red herring prospectus (UDRHP), which will remain open for public comments for three weeks.
According to sources, the updated filing could be made in early July.
Advanta Enterprises IPO to be entirely OFS
Advanta Enterprises, which operates in agricultural solutions and hybrid seeds, will launch an IPO comprising only an offer-for-sale.
The issue includes the sale of 3.61 crore shares.
Selling shareholders include:
- UPL
- Melwood Holdings II
- KIA EBT Scheme 2
No fresh shares will be issued under the offer.
Ahmedabad-based Mehta Hitech Industries manufactures:
- CO2 laser equipment.
- Fibre laser equipment.
- CNC routers.
- Digital printers.
Its IPO consists entirely of a fresh issue of 62 lakh shares.
The company plans to use the proceeds for:
- Capital expenditure.
- Working capital requirements.
- General corporate purposes.
Veegaland Developers plans ₹250 crore issue
Veegaland Developers, part of the V-Guard Group, is planning a ₹250 crore IPO.
The issue will consist solely of a fresh issue and will not include an offer-for-sale component.
The proceeds will be used for:
- Acquisition of identified land parcels.
- Funding ongoing projects.
- Supporting upcoming residential developments.
TL;DR
SEBI has approved IPOs of five companies, including Oyo parent Prism and Truhome Finance. The companies span sectors such as housing finance, agriculture, industrial equipment and real estate, with proceeds aimed at expansion and funding requirements.
AI Summary
- SEBI approved IPOs of five companies.
- Oyo parent Prism plans a ₹6,650 crore issue.
- Truhome Finance aims to raise ₹3,000 crore.
- Advanta Enterprises’ IPO will be entirely an OFS.
- Mehta Hitech and Veegaland Developers will issue fresh shares.
