‘Tsunami’ in IPO market! 24 companies knocked at SEBI’s door in the last 48 hours of the financial year

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In the last two days of FY2026, more than two dozen companies filed preliminary papers with capital markets regulator Sebi to raise funds through initial public offerings (IPOs). This shows the continuous growth in the primary market. The companies that have submitted their draft papers include Sadbhav Futuretech, TC Terrytex, Monomark Engineering (India) Ltd, Adroit Industries (India), Punjab Carbonic, Nityas Gems and Jewellery, Expression 360 Services India Ltd, Absolute Project (India) Ltd, Bvishal Oil and Energy, and Kay Jay Forgings.

Meanwhile, Rediff.com India Ltd, a subsidiary of AvenuesAI Ltd, and SNVA Traveltech Ltd, which runs online travel platform Travomint, chose the confidential pre-filing route. All these companies submitted their draft documents to SEBI on March 30 or March 31. Most of the companies are taking recourse to the capital market to fulfill their expansion plans, raise funds for working capital requirements and repay loans. So far in 2026, 18 companies have launched their first public offerings.

These major companies submitted documents

  1. The proposed IPO of Sadbhav Futuretech involves a fresh issue of 2.55 crore equity shares. Along with this, there is also a proposal for ‘Offer for Sale’ (OFS) worth Rs 235 crore by the promoters and other shareholders. The funds raised from this issue will be used for working capital needs and general corporate purposes.
  2. Similarly, TC Terrytex plans to raise funds by issuing fresh shares worth Rs 170 crore and offering OFS of 67.5 lakh shares by investor Ashis Living Private Limited. The funds raised from this issue will be used to repay debt and for general corporate purposes.
  3. Monomark Engineering’s IPO is entirely a fresh issue of 2.7 crore equity shares, which does not include any part of OFS. Of the total funds raised from this issue, Rs 111 crore has been earmarked for increasing working capital needs, while the remaining funds will be used for general corporate purposes.
  4. Punjab Carbonic’s IPO involves issuance of 60 lakh new shares and a proposal to bring OFS of 35 lakh shares by the promoters. The company wants to use these funds to set up two CO₂ recovery units in Andhra Pradesh, strengthen logistics infrastructure, invest in increasing ethanol capacity in its subsidiary Pancarbo Greenfuels and repay debt.
  5. Adroit Industries is planning to use the funds from its IPO for capex. This IPO includes new issue of 98.97 lakh shares and OFS of 13.5 lakh shares. These funds will be used to purchase machinery and equipment, build transportation infrastructure, invest in its subsidiary Adroit Driveshafts and repay debt.
  6. The proposed IPO of Nityas Gems and Jewelery is a completely new issue of 1.45 crore shares. The money received from this is kept for working capital needs and general corporate purposes.
  7. Expression 360 Services India’s IPO is an OFS of 1.5 crore shares entirely led by promoter Mohit Gupta. This means that the company will not get any money from this issue.
  8. The maiden public offering of Absolute Project (India) is a completely new issue of 2 crore shares. These funds will be used for capex for expansion and modernization of manufacturing facilities, completion of power EPC projects, loan repayment and working capital requirements.
  9. The proposed IPO of Bvishal Oil and Energy includes a fresh issue of 1.8 crore shares and OFS of 77.09 lakh shares.
  10. Kay Jay Forgings’ IPO comprises a fresh issue of equity shares worth Rs 300 crore and OFS of shares worth Rs 60 crore by promoters. This takes the total size of the issue to Rs 360 crore.

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