- SEBI approved IPO proposals for Advanta Enterprises, Truhome Finance, Oyo, Mehta Hitech, Veegaland Developers
- Advanta’s IPO is an offer for sale totaling 36.1 million equity shares from existing shareholders
- Truhome Finance’s Rs 3,000 crore IPO includes a fresh issue and offer for sale equally split at Rs 1,500 crore
The Securities and Exchange Board of India on Friday approved five IPO proposals including Advanta Enterprises Ltd., Truhome Finance Ltd., Oyo parent Oravel Stays Ltd., Mehta Hitech Industries Ltd., Veegaland Developers Ltd.
The market regulator issued its 'observation letter' to the draft documents of the IPOs, which means final approval in SEBI parlance.
Advanta Enterprises
KKR backed Advanta Enterprises a leading global seeds and post-harvest solutions provider and a subsidiary of UPL has received final observations from SEBI for its IPO. The proposed IPO consists entirely of an offer for sale (OFS) of up to 36,105,578 equity shares. The OFS comprises up to 28,107,578 equity shares by Promoter Selling Shareholder UPL Limited, up to 7,995,390 equity shares by Investor Selling Shareholder Melwood Holdings II Pte. Ltd. and up to 2,610 equity shares by Investor Selling Shareholder KIA EBT Scheme 2.
Truhome Finance
Truhome Finance Limited, formerly known as Shriram Housing Finance Limited has received the Securities and Exchange Board of India (SEBI) approval for its proposed IPO. The Rs 3,000 Crore IPO comprises of a fresh issue of equity shares aggregating up to Rs 1,500 Crores and an offer for sale aggregating up to Rs 1,500 Crores. The offer for sale by promoter selling shareholder, Mango Crest Investment Limited comprises of equity shares of face value of Rs 10 each aggregating up to Rs 1,500 Crores.
The Net Proceeds are proposed to be utilised towards augmenting the capital base to meet the Company's future capital requirements including general corporate purposes and onward lending, arising out of the growth of the business, and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time. The Net Proceeds are proposed to be deployed over the course of Financial Years ended March 31, 2027 and March 31, 2028.
Veegaland Developers
The Company filed its Draft Red Herring Prospectus (DRHP) in December 2025. The company operates under the brand name Veegaland Homes is a real estate development Company engaged in the planning, development and sale of multi-storied residential apartment projects in the state of Kerala, catering to mid-premium, premium, ultra-premium, luxe-series and ultra-luxury residential segments.
The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 250 crore, with no Offer for Sale (OFS) component. The proceeds from the fresh issue are proposed to be utilized towards development of their Ongoing Projects, land acquisition for future residential projects and for general corporate purposes.
Oravel Stays
Prism, the parent company of global travel-tech unicorn Oyo, plans to raise Rs 6,650 crore through its IPO. The proposed offering is expected to value the company at around $7-8 billion, according to people familiar with the development. The company had filed its draft papers through the confidential pre-filing route in December 2025.
Oyo operator Oravel Stays was rebranded as Prism in September 2025.
Mehta Hitech Industries
Ahmedabad-based Mehta Hitech Industries' proposed public issue comprises a fresh issuance of up to 62 lakh equity shares, according to the draft papers.
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