Oyo Parent Prism Leads ₹10,000 Crore IPO Wave as Sebi Approves Five Companies

India’s primary market is set for renewed momentum as Sebi clears IPO proposals of five companies, led by Oyo’s parent firm Prism, which plans the largest public issue among them.

SEBI approved the IPO plans of five companies, Prism’s ₹6,650 Crore Issue Takes Centre Stage

Fresh Momentum in India’s Primary Market

India’s capital markets are gearing up for a fresh round of public offerings after the Securities and Exchange Board of India (Sebi) approved initial public offering (IPO) proposals from five companies. These firms—Prism, Truhome Finance, Veegaland Developers, Advanta Enterprises, and Mehta Hitech Industries—are collectively expected to raise close to ₹10,000 crore.

Sebi issued its observations on the draft IPO documents between June 1 and June 5, which is a critical step before companies can proceed with launching their public issues. The approvals indicate growing confidence in the market and signal increased fundraising activity in the coming months.

Prism’s IPO Emerges as the Largest Offering

Among the approved companies, Prism, the parent entity of travel-tech platform Oyo, is set to dominate the IPO landscape. The company plans to raise ₹6,650 crore, making it the largest issue in the current batch.

Market sources suggest that Prism could achieve a valuation of approximately USD 7–8 billion post-listing. The company had submitted its draft IPO papers via Sebi’s confidential pre-filing route in December 2025, reflecting a strategic approach to entering the public markets.

Notably, Oyo’s operating entity, Oravel Stays, was rebranded as Prism in September 2025 as part of its corporate restructuring ahead of the IPO.

Truhome Finance Plans ₹3,000 Crore Fundraise

Truhome Finance, backed by global investment firm Warburg Pincus, is preparing for a ₹3,000 crore IPO. The offering will consist of both a fresh issue of shares worth ₹1,500 crore and an offer-for-sale (OFS) of an equal amount by promoter Mango Crest Investment Ltd.

The company intends to use the proceeds from the fresh issue to strengthen its capital base, support expansion in lending operations, comply with Reserve Bank of India (RBI) capital requirements, and meet general corporate expenses.

This IPO reflects continued investor interest in India’s financial services sector, particularly housing finance and lending businesses.

Veegaland Developers to Focus on Real Estate Expansion

Veegaland Developers, a part of the V-Guard Group, has also received Sebi’s approval to launch its IPO. The company plans to raise ₹250 crore through a completely fresh issue of equity shares.

The funds will be utilized to support ongoing and upcoming real estate projects, as well as for acquiring land for future development. The move highlights growing opportunities in India’s real estate sector, driven by urbanisation and increasing housing demand.

Advanta Enterprises and Mehta Hitech Industries Join IPO List

Advanta Enterprises’ IPO will be structured entirely as an offer-for-sale, involving the sale of 3.61 crore shares by promoter UPL Ltd and other investor shareholders. Since the issue does not include a fresh component, the proceeds will go directly to the selling shareholders rather than the company.

Meanwhile, Ahmedabad-based Mehta Hitech Industries plans to raise capital through a fresh issue of up to 62 lakh equity shares. The company aims to use the funds for business expansion and operational growth.

Combined Fundraising Expected to Touch ₹10,000 Crore

Merchant bankers estimate that the five IPOs together could mobilise nearly ₹10,000 crore from the market. This influx of capital is expected to boost liquidity and provide growth opportunities for the companies involved.

The IPO wave also reflects a broader trend of companies tapping public markets to fund expansion, reduce debt, and enhance visibility among investors.

Strong Pipeline Reflects Investor Confidence

The fact that these companies filed their draft IPO documents between January and March and received approvals within a few months indicates a streamlined regulatory process and positive market sentiment.

India’s IPO market has remained resilient despite global economic uncertainties, supported by strong domestic investor participation and a growing appetite for equity investments.

Strategic Importance of Sebi’s Approval Process

Sebi’s observations on draft IPO documents are a crucial regulatory requirement. These observations ensure that companies meet disclosure norms and provide investors with adequate information to make informed decisions.

Once these observations are issued, companies can proceed with finalising their IPO structure, determining pricing, and launching their public offerings.

Outlook for Upcoming IPO Launches

With regulatory approvals now secured, all five companies are expected to move forward with their IPO launches in the coming months. The timing of these issues will depend on market conditions and investor sentiment.

If successful, these IPOs could pave the way for more companies to enter the primary market, further strengthening India’s position as a key destination for capital raising.

Conclusion: A Promising Phase for India’s Capital Markets

The approval of IPO plans for five companies marks the beginning of an active phase in India’s primary market. With Prism leading the pack, followed by strong offerings from Truhome Finance and others, the coming months are expected to witness significant fundraising activity.

As companies seek to capitalise on favourable market conditions, investors will have diverse opportunities to participate in India’s growth story through equity markets.