India’s primary market continues to witness strong momentum, with several companies moving closer to their public listing plans. In a significant development, Truhome Finance and Veegaland Developers have received approval from the Securities and Exchange Board of India (SEBI) to proceed with their initial public offerings (IPOs).
According to updates from the market regulator, five companies secured SEBI’s observations between June 1 and June 5, 2026. Alongside Truhome Finance and Veegaland Developers, approvals were also granted to Prism, the parent company of hospitality and travel technology platform Oyo, agricultural solutions firm Advanta Enterprises, and Mehta Hitech Industries.
SEBI’s observations represent a crucial regulatory milestone that allows companies to move ahead with their proposed public issues. The draft papers for these offerings were submitted between January and March this year.
Collectively, the five companies are expected to raise nearly ₹10,000 crore through their respective IPOs, reflecting sustained investor interest in India’s capital markets.
Among the approved offerings, Truhome Finance is planning one of the largest public issues. The company’s proposed IPO comprises a fresh issue of equity shares worth ₹1,500 crore and an offer for sale worth ₹1,500 crore by promoter Mango Crest Investment Limited. The total issue size is expected to be ₹3,000 crore.
The housing finance company intends to use the proceeds from the fresh issue to strengthen its capital base, support future lending growth, maintain regulatory capital adequacy requirements, and meet general corporate funding needs. The capital infusion is expected to enhance the company’s ability to expand its lending portfolio amid growing demand for housing finance across India.
Meanwhile, Kerala-based Veegaland Developers, a part of the V-Guard Group, has received approval for an IPO comprising an entirely fresh issue of shares worth ₹250 crore. Unlike many recent public offerings, the proposed issue does not include an offer for sale component.
The real estate developer plans to utilise the funds raised through the IPO for ongoing and upcoming residential projects, as well as for acquiring identified land parcels to support future development activities. The fundraising is expected to strengthen the company’s project pipeline and support expansion in key residential markets.
Another notable approval is for Prism, the parent entity of Oyo, which aims to raise approximately ₹6,650 crore through its public issue. Market sources indicate that the offering could value the company between USD 7 billion and USD 8 billion.
The latest approvals highlight the continued confidence of businesses in India’s public markets as a source of capital for expansion, growth, and long-term development. With a strong pipeline of IPOs across sectors including finance, real estate, hospitality, agriculture, and manufacturing, India’s capital market activity is expected to remain robust in the coming months.
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