New Delhi, 10 June (H.S.): India’s primary market appears to be regaining momentum as the Securities and Exchange Board of India (SEBI) has issued observation letters to five companies across diverse sectors, effectively granting them approval to proceed with their proposed initial public offerings (IPOs).

The companies receiving regulatory clearance operate in the industrial equipment, agriculture, hospitality, real estate, and housing finance sectors. They include OYO’s parent company Oravel Stays, real estate developer Vignaland Developers, affordable housing finance firm True Home Finance, agricultural solutions provider Advanta Enterprises, and industrial equipment manufacturer Mehta Hitech Industries.

Among them, OYO parent company Oravel Stays has received SEBI’s approval for a proposed IPO worth ₹6,650 crore. The hospitality technology platform operates across hotels, vacation homes, and other accommodation services and has established a significant presence in the sector. The company plans to use the proceeds to support business expansion and aims to achieve a valuation of approximately ₹66,000 crore through the offering. After facing losses for several years, the company has recently moved onto a profitable growth path, generating considerable investor interest ahead of its public listing.

SEBI has also issued an observation letter to Vignaland Developers, a Kerala-based real estate developer seeking to raise ₹250 crore through its IPO. The issue will consist entirely of a fresh equity issuance, with no Offer for Sale (OFS) component. The company intends to utilise the proceeds for advancing residential projects, acquiring new land parcels, and meeting general corporate requirements.

Affordable housing finance company True Home Finance has likewise secured regulatory approval for an IPO aimed at raising ₹3,000 crore. The offering will comprise ₹1,500 crore in fresh equity shares and ₹1,500 crore through an Offer for Sale. Existing shareholder Mango Crest Investment plans to reduce its stake through the OFS component. Funds raised from the fresh issue will be used to strengthen the company's capital base and support working capital requirements.

Agricultural solutions provider Advanta Enterprises has also received SEBI’s clearance. Its IPO will be conducted entirely through an Offer for Sale, under which existing shareholders will sell 36.1 million equity shares. The company is engaged in hybrid seed development and provides post-harvest crop processing solutions.

Industrial equipment manufacturer Mehta Hitech Industries has been approved to proceed with its public issue as well. The company plans to issue 6.2 million fresh equity shares through the IPO. The proceeds will be utilised for capital expenditure, working capital requirements, and other corporate purposes. Mehta Hitech Industries manufactures a range of industrial equipment, including carbon dioxide laser systems, CNC routers, fiber laser machines, and digital printers.

The approvals reflect renewed activity in India’s IPO market and signal growing investor interest across a wide range of sectors, from technology and real estate to financial services, agriculture, and industrial manufacturing.

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Hindusthan Samachar / Jun Sarkar