NEW DELHI: As many as five companies, including Oyo‘s parent entity Prism, Warburg Pincus-backed Truhome Finance, and real estate developer Veegaland Developers, have secured approval from Sebi to launch their initial public offerings (IPOs), an update available with the capital market regulator showed on Friday.
The other firms that secured the approval from the Securities and Exchange Board of India (Sebi) are agricultural solutions company Advanta Enterprises and Mehta Hitech Industries.
According to the update, the regulator issued its observations on the draft IPO papers of these companies between June 1 and June 5. Sebi’s observations are necessary for companies to proceed with their public issues.
The regulator received the preliminary IPO papers of all five companies between January and March.
Collectively, the five companies are estimated to raise about Rs 10,000 crore, merchant bankers said.
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 USD 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.
Truhome Finance’s proposed IPO comprises a fresh issue of equity shares worth Rs 1,500 crore and an offer-for-sale (OFS) aggregating to Rs 1,500 crore by promoter Mango Crest Investment Ltd.
The company intends to utilise proceeds from the fresh issue to strengthen its capital base, support future lending requirements, meet capital adequacy norms prescribed by the Reserve Bank of India and for general corporate purposes.
Veegaland Developers, a part of the V-Guard Group, plans to raise Rs 250 crore through an entirely fresh issue of shares. There is no OFS component in the proposed issue.
The company proposes to use the proceeds for funding ongoing and upcoming real estate projects and acquiring identified land parcels for residential developments.
Advanta Enterprises’ IPO will be entirely an OFS of 3.61 crore equity shares by promoter UPL Ltd and investor shareholders Melwood Holdings II Pte Ltd and KIA EBT Scheme 2.
Ahmedabad-based Mehta Hitech Industries’ proposed public issue comprises a fresh issuance of up to 62 lakh equity shares, according to the draft papers.
