Upcoming IPOs: SEBI nod for 13 public issues; Pride Hotels joins IPO queue; check full list here

Upcoming IPOs: The Securities and Exchange Board of India (SEBI) has cleared as many as 13 initial public offerings (IPOs), including large-ticket issues from Sify Infinit Spaces Ltd and Hella Infra Market Ltd. The market regulator has also approved two pre-filings, expanding the list of companies preparing to tap capital markets in the coming quarters.

Bankers said several issuers are opting to secure regulatory approvals early while keeping flexibility on launch timelines, as market conditions remain uneven. The latest approvals suggest that companies are positioning themselves to move quickly once investor sentiment stabilises.

Large issues dominate approvals

Add Zee Business as a Preferred Source

Among the prominent names, Sify Infinit Spaces Ltd. has received SEBI’s nod for a Rs 3,700 crore book-building IPO. The issue consists of a fresh issue of Rs 2,500 crore, which will be used to support business expansion and strengthen the balance sheet, along with an offer for sale (OFS) of Rs 1,200 crore by existing shareholders. The company plans to list its equity shares on both the NSE and BSE. JM Financial Ltd. is the book-running lead manager, while Kfin Technologies Ltd. has been appointed as the registrar.

Hella Infra Market Ltd., which plans a Rs 5,000 crore book-building issue had filed its confidential draft red herring prospectus with SEBI on September 30, 2025, opting for the pre-filing route that allows greater flexibility on disclosures and timing.

Broad sector representation

SEBI has also cleared IPO proposals from companies across a wide range of sectors, including infrastructure, electronics, healthcare, hospitality, logistics and technology. The approved list includes Transline Technologies Ltd., UKB Electronics Ltd., CMR Green Technologies Ltd., Medicap Healthcare Ltd., Purple Style Labs Ltd., Oswal Cables Ltd., BVG India Ltd., Pride Hotels Ltd., Sai Parenteral’s Ltd. and Commtel Networks Ltd.

In addition, the regulator has approved the pre-filing of Jay Jagdamba Ltd., with Elara Capital (India) Pvt. Ltd. acting as the book-running lead manager.

While most companies are yet to announce key details such as IPO dates, price bands and lot sizes, all issues are proposed to be listed on both the NSE and BSE.

Key details of upcoming IPOs

Sai Parenteral’s Ltd. plans a public issue comprising a fresh issue of Rs 285 crore and an OFS of up to 0.35 crore equity shares. Arihant Capital Markets Ltd. is the lead manager, and Bigshare Services Pvt. Ltd. is the registrar.

Commtel Networks Ltd. has lined up a Rs 900 crore book-building IPO, including a fresh issue of Rs 150 crore and an OFS worth Rs 750 crore. The issue will be managed by Equirus Capital Pvt. Ltd., with MUFG Intime India Pvt. Ltd. as registrar.

CMR Green Technologies Ltd. will tap the markets through an entirely OFS-based issue of up to 4.29 crore shares, while Purple Style Labs Ltd. has proposed a pure fresh issue of Rs 660 crore.

Oswal Cables Ltd. plans a book-built IPO comprising a fresh issue of Rs 300 crore and an OFS of up to 2.22 crore equity shares, with Pantomath Capital Advisors Pvt. Ltd. as lead manager. BVG India Ltd. will come with a fresh issue of Rs 300 crore and an OFS of up to 2.85 crore shares, managed by MUFG Intime India.

In the hospitality space, Pride Hotels Ltd. has received approval for an IPO comprising a fresh issue of Rs 260 crore and an OFS of up to 3.92 crore equity shares. Motilal Oswal Investment Advisors Ltd. is the coordinating lead manager, while Kfin Technologies Ltd. is the registrar.

Transline Technologies Ltd. will launch an entirely OFS-based issue of up to 1.62 crore shares, also managed by Motilal Oswal Investment Advisors. UKB Electronics Ltd. plans a mixed offering consisting of a fresh issue of Rs 800 crore and an OFS of Rs 400 crore.