NEW DELHI: Five companies, including Oyo’s parent company Prism, Warburg Pincus-backed Truhome Finance, and Veegaland Developers, have received approval from Sebi to launch their initial public offerings (IPOs), as reported by the capital market regulator on Friday.
The other firms that gained approval from the Securities and Exchange Board of India (Sebi) are Advanta Enterprises, which focuses on agricultural solutions, and Mehta Hitech Industries.
According to the update, Sebi provided its observations on the draft IPO documents from June 1 to June 5. These observations are crucial for companies to move forward with their public issues. The preliminary IPO papers for all five companies were submitted between January and March.
Merchant bankers estimate that the five companies could collectively raise approximately Rs 10,000 crore.
Prism, the parent company of global travel-tech unicorn Oyo, aims to raise Rs 6,650 crore through its IPO, which is expected to value the company between USD 7-8 billion, based on insider information.
The company’s draft IPO papers were confidentially filed in December 2025, and Oyo’s operator, Oravel Stays, was rebranded to Prism in September 2025.
Truhome Finance’s IPO will consist of a fresh issue of equity shares amounting to Rs 1,500 crore, along with an offer-for-sale (OFS) worth Rs 1,500 crore by its promoter, Mango Crest Investment Ltd. The company plans to use the proceeds from the fresh issue to enhance its capital base, support lending requirements, adhere to capital adequacy norms set by the Reserve Bank of India, and for general corporate purposes.
Veegaland Developers, part of the V-Guard Group, seeks to raise Rs 250 crore entirely through new share issuance, with no OFS segment included. The funds will be directed towards ongoing and new real estate projects as well as acquiring land for residential development.
Advanta Enterprises will execute its IPO entirely as an OFS of 3.61 crore equity shares by its promoter, UPL Ltd, together with investor shareholders Melwood Holdings II Pte Ltd and KIA EBT Scheme 2.
Ahmedabad’s Mehta Hitech Industries’ proposed public offering comprises a fresh issue of up to 62 lakh equity shares, according to its draft IPO documents.
