India’s primary market is witnessing renewed momentum as the Securities and Exchange Board of India (SEBI) has approved initial public offerings (IPOs) of eight companies across diverse sectors. The approvals span financial services, infrastructure, engineering, education, IT, manufacturing, and recycling, indicating a broad-based revival in the IPO pipeline and offering investors a wide range of upcoming opportunities.
India’s capital markets regulator SEBI has granted approval to eight companies to launch their IPOs. Unlike previous cycles dominated by a single sector, this round features companies from financial services, infrastructure, engineering, education, IT systems integration, metals recycling, jewellery, and electronics manufacturing. The move signals strong depth in the IPO pipeline and growing investor choice in the coming months.
Among the approved IPOs, InCred Holdings has attracted the most attention. It is the 100% holding company of InCred Financial Services, a fast-growing new-age non-banking financial company (NBFC) in India.
The InCred Group operates across multiple lending segments, including personal loans, student loans, MSME-focused lending, secured business loans, and lending to financial institutions. Since inception, the platform has disbursed loans worth over ₹25,000 crore and has served more than 4 lakh customers.
The company operates through a network of over 140 branches and employs more than 2,600 people. As of FY25, InCred reported assets under management (AUM) of ₹12,585 crore, reflecting a strong 39% year-on-year growth. Its business model emphasises technology-driven underwriting and robust risk management systems.
SEBI has also approved the IPO of Aarvee Engineering Consultants, which will include a ₹202.5 crore fresh issue along with an offer-for-sale (OFS) of up to 67.5 lakh equity shares by promoter Venkatchala Chakrapani Redla.
The company provides infrastructure engineering and project management consultancy services across transportation, water, and urban development sectors.
Ahmedabad-based IT systems integrator ArMee Infotech has received approval for a ₹300 crore IPO, entirely comprising a fresh issue. The company operates from 14 locations and serves clients across government, BFSI, corporate, and education sectors. Its offerings include IT hardware and software deployment, managed services, and large-scale digital infrastructure projects.
Kolkata-based cable and conductor manufacturer Laser Power and Infra has also secured SEBI’s approval. The company plans to raise ₹1,200 crore through its IPO and is reportedly targeting a valuation in the range of ₹5,500 crore to ₹6,500 crore. The proceeds are expected to strengthen the balance sheet and support future expansion plans.
Another major approval is for Elevate Campus, which plans to launch a ₹2,550 crore IPO, entirely through a fresh issue. The company operates as an education infrastructure platform, focusing on the development and operation of student housing and campus infrastructure. Elevate Campus plans to list on both the NSE and BSE.
SEBI has approved the IPO of Shankesh Jewellers, which will include a ₹3 crore fresh issue and an ₹1 crore OFS. The company plans to list its shares on both NSE and BSE.
Metal recycling company ARDI Industries has also received approval. The IPO will consist of a fresh issue of up to ₹320 crore and an OFS of up to 3.77 crore shares. Established in 1995, the company is engaged in lead recycling, smelting, and refining operations.
Auto and industrial electronics company SEDEMAC Mechatronics has been cleared for an IPO that will be entirely OFS-based, offering up to 0.8 crore shares. The company will not raise fresh capital through this issue.
Conclusion
SEBI’s approval of eight IPOs across varied sectors reflects growing confidence in India’s primary markets. With a mix of large, mid-sized, and small offerings, the upcoming IPO pipeline offers investors diversified opportunities while underlining the depth and maturity of India’s capital markets.