Purple Style Labs, BVG India, Sify Infinit, CMR Green among 13 IPOs to receive SEBI nod

Upcoming IPOs

• SEBI clears Purple Style Labs IPO, BVG India IPO, Sify Infinit Spaces IPO
• SEBI approves CMR Green IPO, Transline Technoloies IPO, UKB Electronics IPO, Medicap Healthcare IPO
• SEBI gives thumps up to Oswal Cables IPO, Pride Hotels IPO, Sai Parenterals IPO, Commtel Networks IPO, Jay Jagdamba IPO, Hella Infra Market IPO

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Purple Style Labs, BVG India, Sify Infinit Spaces, and CMR Green Technologies are among 13 companies that have received approval for their IPO papers from the Securities and Exchange Board of India in current week. Draft papers of Transline Technologies, UKB Electronics, Medicap Healthcare, Oswal Cables, Pride Hotels, Sai Parenteral's, and Commtel Networks have also been cleared by the capital markets regulator.

Draft Red Herring Prospectus (DRHPs) filed by Jay Jagdamba, and Hella Infra Market throgh confidential route have also received thumps up from the SEBI.

The SEBI has issued observations on draft document of Pride Hotels on January 16, Oswal Cables on January 19, and Sai Parenteral's on January 21. Further, Transline Technologies, CMR Green technologies, and Commtel Networks have received observations on their draft papers on January 22, while the regulator issued observations on Jay Jagdamba, UKB Electronics, Medicap Healthcare, Purple Style Labs, BVG India, Sify Infinit Spaces, and Hella Infra Market on January 23.

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The issuance of observations means the company is allowed by the SEBI to go ahead with its IPO plans within the next one year. In case of companies that approached capital markets for IPO via confidential route, they have 18 months period to launch their offers for public subscription as with receipt of observations on pre-filed draft papers, they have to file updated DRHP with the regulator, followed by filing of Red Herring Prospectus with the Registrar of Companies for IPO launch.

Maharashtra-based stainless steel manufacturer Jay Jagdamba filed its DRHP via the confidential route in June 2025, while the pre-filed DRHP, or early-stage IPO document, was filed by construction and building materials B2B platform Hella Infra Market in October 2025.

Video surveillance and biometric solutions provider Transline Technologies filed draft papers with SEBI on August 7, 2025, to raise funds via an IPO. The public issue will comprise an entirely offer-for-sale of 1.6 crore shares by existing shareholders, including promoters.

Noida-based UKB Electronics, an electronic manufacturing services provider for home appliances and consumer electronics players, filed IPO papers on September 1 last year to raise Rs 800 crore. The IPO will be a combination of a fresh issue and an offer-for-sale of equity shares worth Rs 400 crore each.

Non-ferrous metal recycler CMR Green Technologies refiled its preliminary papers on August 29 last year for a 100 percent offer-for-sale issue of 4.28 crore equity shares, with no fresh issue component.

Vadodara-based Medicap Healthcare, a manufacturer of critical packaging products for pharmaceutical companies, filed draft papers with the markets regulator on September 22 last year to raise Rs 240 crore through an IPO. The issue will consist entirely of a fresh issue, with no offer-for-sale (OFS) component.

Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, filed its DRHP with SEBI on September 22 last year to mobilise Rs 660 crore through its maiden public issue. The proposed IPO will be solely a fresh issue of equity shares, with no OFS component.

Jaipur-based conductors and cables maker Oswal Cables approached the capital markets on September 30 last year by filing draft papers with the markets regulator for its IPO. The company has proposed to raise Rs 300 crore through a fresh issue, while promoters will sell up to 2.22 crore equity shares via an OFS.

Private equity firm 3i Group-backed BVG India, which claims to be the largest integrated facility management services provider in India, refiled its draft papers with SEBI on September 30 last year. As per the preliminary papers, the company plans to mobilise Rs 300 crore by issuing new shares, while existing shareholders, including investor Strategic Investments FM (Mauritius), will sell 2.85 crore shares via an OFS.

Mumbai-based Pride Hotels tapped the capital markets on September 30 last year by filing preliminary papers with SEBI. According to sources, the company is planning to raise approximately Rs 1,000 crore through an IPO, which will consist of a fresh issuance of shares worth Rs 260 crore and an offer-for-sale of 3.92 crore shares. The proceeds will be used for renovation of existing hotels, repayment of certain borrowings, and general corporate purposes.

Telangana-based pharmaceutical formulations company Sai Parenteral also filed its DRHP on the same day for its IPO, which will be a combination of a fresh issue of shares worth Rs 285 crore and an offer-for-sale of 35 lakh shares by existing shareholders.

Navi Mumbai-based engineering and technology company Commtel Networks approached the capital markets to raise Rs 900 crore via an IPO, with a majority offer-for-sale component. The public issue will comprise a fresh issuance of shares worth Rs 150 crore and an OFS of shares worth Rs 750 crore by promoter Shriprakash Pandey and other shareholders.

Kotak Mahindra Group-backed Sify Infinit Spaces, one of the top three providers of data centre colocation services in India in terms of built IT capacity, is planning to mobilise up to Rs 3,700 crore through an initial public offering. The Sify Technologies-promoted company has proposed to issue fresh shares worth Rs 2,500 crore, while investors Kotak Data Center Fund and Kotak Special Situations Fund will offload shares worth Rs 1,200 crore via an OFS.

The draft papers of Commtel Networks were filed with SEBI on September 29 last year, while those of Sify Infinit Spaces were filed on October 16 last year.