Upcoming IPOs: 11 public issues that have received Sebi nod & can launch soon

Around 120 companies have received Sebi’s approval to launch their initial public offerings (IPO) and can announce the dates anytime as the market regulator’s approval remains valid, Axis Capital listed out in its report. These include some popular names mattress-seller Duroflex, Hero Motors, water purifier-maker Kent R O Systems, Hero Fincorp and others.

Mattress-maker Durex received SEBI’s approval to proceed with its IPO back in February this year. The company's maiden public issue comprises a fresh issue worth Rs 183 crore and an offer for sale (OFS) of nearly 2.26 crore shares by Lighthouse India Fund III and Lighthouse India III employees. The company aims to use the fresh issue proceeds to fund capital expenditure for setting up new COCO stores, expenditure for lease, sub-lease rent and license fee payments, marketing and advertisement expenses.

Purple Style Labs, which operates multibrand luxury omni-channel fashion platform Pernia’s Pop-Up Shop, received SEBI’s approval for its IPO in January this year. The company aims to raise Rs 660 crore through a fresh issue of shares, and use the fresh issue proceeds for investment in wholly-owned subsidiary, PSL Retail, along with funding sales and marketing expenses.

Pride Hotels also received SEBI’s approval for IPO in January. The popular hotel chain operator’s IPO comprises a fresh issue of shares worth Rs 260 crore and an offer for sale (OFS) of more than 3.9 crore shares. The company aims to use the fresh issue proceeds for funding capital expenditure requirements for renovation, repayment in full or part of certain borrowings.​

Orient Cables in December last year received SEBI’s approval for its IPO which would comprise a fresh issue of shares worth Rs 320 crore and an offer for sale of shares worth Rs 380 crore, taking the total offer size to Rs 700 crore. The cable-maker aims to use the fresh issue proceeds for funding capital expenditure requirements for purchase of machinery, equipment and civil works at manufacturing facilities, along with repayment of certain outstanding borrowings.

Milky Mist Dairy Food in October last year received SEBI’s approval to launch its IPO, which would comprise a fresh issue of shares worth Rs 1,785 crore and an offer for sale worth Rs 250 crore, taking the total offer size to Rs 2,035 crore. The company, which has a market share of 17% in the organised packaged paneer market, 12% in the Southern region’s organised cheese segment, and 5% in the organised packaged cheese market in India, aims to use the fresh issue proceeds for repayment of outstanding borrowing, and for financing capital expenditure.

Hero Motors received SEBI’s approval back in September 2025 to launch an IPO comprising a fresh issue of shares worth Rs 800 crore and an OFS worth Rs 400 crore, taking the total offer size to Rs 1,200 crore. The company aims to use the fresh issue proceeds for repayment, prepayment or redemption in full or in part of certain outstanding borrowing, fund capital expenditure for purchase of equipment and inorganic growth.

Juniper Green Energy got SEBI’s approval to launch its IPO back in August 2025. The company’s maiden public issue will likely comprise a fresh issue of shares worth Rs 3,000 crore, whose proceeds will be used for repayment of certain borrowing, along with investment in material subsidiaries.

Popular water purifier-maker Kent R O Systems received SEBI’s approval to launch an IPO back in June 2025. The maiden public issue of the company will likely comprise an offer for sale of more than 1 crore shares, with no fresh issue component.

Back in May 2025, Hero Fincorp received SEBI’s approval to launch an IPO which would comprise a fresh issue of shares worth Rs 1,790 crore and an offer for sale of shares worth Rs 1,568 crore. The company aims to use the fresh issue proceeds for the augmentations of its tier-I capital base to meet the future capital requirements towards onward lending.

Veritas Finance in April last year received SEBI’s approval to launch an IPO to raise nearly Rs 2,800 crore. This would comprise a fresh issue of shares worth Rs 600 crore and an OFS of shares worth Rs 2,200 crore.

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