New Delhi, As many as nine companies, including PlaySimple Games, drone startup Garuda Aerospace, Rediff.com India, Jakson Green and Adroit Industries, have received markets regulator Sebi’s approval to raise funds through initial public offerings (IPOs).
The other companies that secured the regulator’s nod are Expression 360 Services India Ltd, SNVA Traveltech, Naini Papers Ltd and railway infrastructure and EPC services provider Laxyo, an update with the Securities and Exchange Board of India (Sebi) showed on Friday.
These companies, which had filed their draft papers between December 2025 and April 2026, obtained Sebi’s observations during August 3-7.
In Sebi’s parlance, obtaining observations is equivalent to securing approval to float a public issue.
Jakson Green Ltd, Rediff.com India, SNVA Traveltech, and Garuda Aerospace had filed their IPO papers through Sebi’s confidential pre-filing route, which enables companies to obtain regulatory feedback on their draft offer documents before they are made public.
PlaySimple Games, India’s largest pure-play casual mobile games company by revenue, plans to raise Rs 3,150 crore through an entirely offer-for-sale (OFS) by promoter, MTGx Gaming Holding AB, which owns more than a 97 per cent stake in the company.
PlaySimple Games reported revenue of Rs 2,259.82 crore in FY25 against Rs 1,876.86 crore in the preceding fiscal.
Garuda Aerospace is looking to raise around Rs 1,000 crore through a fresh issue of shares worth Rs 750 crore and an OFS of Rs 250 crore through its maiden public offering, according to people familiar with the development.
The Chennai-based drone startup manufactures and customises unmanned aerial vehicles (UAVs) for agriculture, defence and enterprise surveillance applications.
Rediff.com India Ltd is a subsidiary of AvenuesAI Ltd, formerly known as Infibeam Avenues, which operates digital payment platform CCAvenue and enterprise software platform BuildaBazaar.
Adroit Industries IPO comprises a fresh issue of 98.97 lakh equity shares and an OFS of 13.5 lakh shares, according to the DRHP.
The net proceeds from the fresh issue will be used by the company towards capital expenditure, including procuring machinery and equipment, transportation infrastructure, investing in its subsidiary Adroit Driveshafts and repaying debt.
Adroit is an engineering and manufacturing company specialising in automotive and industrial components.
Expression 360 Services India, a Kolkata-based media and advertising firm, proposed IPO is entirely an OFS of up to 1.50 crore equity shares by promoter, according to the draft red herring prospectus (DRHP).
The Indore-headquartered Laxyo proposed IPO is entirely a fresh issue of equity shares worth Rs 150 crore with no OFS component.
SNVA Traveltech operates online travel platform Travomint, which offers technology-driven travel booking services, including flights, hotels, car rentals, airport transfers and travel insurance through its website and mobile applications.
Naini Papers is an integrated paper manufacturer producing writing and printing paper, industrial paper and packaging paper products from its manufacturing facility in Kashipur, Uttarakhand.
Shares of these nine companies are proposed to be listed on the BSE and NSE.
