Sebi clears IPOs of Avaada, Grand Housing & 2 others

Mumbai: The Securities and Exchange Board of India (Sebi) last week granted approval to four companies-Avaada Electro, Grand Housing, Sonaselection India and Vishal Nirmiti-to launch their initial public offerings (IPOs).

Avaada Electro, the solar PV manufacturing subsidiary of Brookfield-backed Avaada Group had filed a confidential Draft Red Herring Prospectus (DRHP) with Sebi in October 2025. The company received Sebi observations on April 15.

Chennai-based real estate developer Grand Housing's proposed IPO will entirely be an offer-for-sale (OFS) of 3.55 crore shares by the promoter, with no fresh issue.