Mumbai: India’s primary market is set to see fresh activity after the Securities and Exchange Board of India (Sebi) approved the initial public offering (IPO) plans of five companies.
The approved firms are Prism, Truhome Finance, Veegaland Developers, Advanta Enterprises and Mehta Hitech Industries.
According to Sebi’s latest update, observations on the draft papers were issued between June 1 and June 5. These observations are necessary before companies can move ahead with their public issues.
Companies May Raise Around Rs 10,000 Crore
Merchant bankers estimate that the five companies together could raise nearly Rs 10,000 crore through their IPOs.
Among them, Prism, the parent company of travel-tech firm Oyo, is expected to account for the largest share of the fundraising.
The companies had submitted their draft IPO documents to Sebi between January and March this year.
Prism’s Rs 6,650 Crore IPO Leads The Pack
Prism plans to raise Rs 6,650 crore through its public issue.
The company is expected to be valued at around USD 7-8 billion after the IPO, according to people familiar with the matter.
The company had filed its draft papers through Sebi’s confidential pre-filing route in December 2025. Oyo operator Oravel Stays was renamed Prism in September 2025.
Truhome Finance Plans Rs 3,000 Crore Issue
Warburg Pincus-backed Truhome Finance is looking to raise Rs 3,000 crore.
The IPO includes a fresh issue of shares worth Rs 1,500 crore and an offer-for-sale of Rs 1,500 crore by promoter Mango Crest Investment Ltd.
The company plans to use the fresh issue proceeds to strengthen its capital base, support future lending growth, meet RBI capital requirements and fund general corporate needs.
Other Companies Also Get Approval
Veegaland Developers, part of the V-Guard Group, plans to raise Rs 250 crore through a completely fresh issue of shares.
The funds will be used for ongoing and future real estate projects and land acquisitions.
Advanta Enterprises’ IPO will be entirely an offer-for-sale of 3.61 crore shares by promoter UPL Ltd and investor shareholders.
Ahmedabad-based Mehta Hitech Industries plans to launch an IPO consisting of a fresh issue of up to 62 lakh equity shares.
With Sebi’s approval now in place, all five companies can move ahead with their IPO launch plans in the coming months.