SEBI gives thumbs up to Bonbloc Technolgies, Milestone Gears, Eastman Auto IPOs

Upcoming IPOs

• SEBI issues observations on draft papers of Eastman Auto & Power on March 5
• Bonbloc Technolgies IPO papers get SEBI observations on March 5
• Regulator issues observations on Milestone Gears draft document on March 6

Did our AI summary help?

Bonbloc Technolgies, and Milestone Gears have received approval from the Securities and Exchange Board of India to go ahead with their IPO plans, while the confidentially filed draft document of Eastman Auto & Power was also cleared by the capital markets regulator.

As per the processing status of draft offer documents published on March 6, the SEBI has issued observations on the draft papers of Eastman Auto & Power on March 5, followed by Bonbloc Technolgies on March 5, and Milestone Gears on March 6.

In SEBI parlance, the issuance of observations on the preliminary papers allows the company to launch its initial public offering within the next one year. Meanwhile, the company that privately files draft papers with the SEBI and stock exchanges gets 18 months period to float IPO as now it has to file Updated DRHP with SEBI, followed by RHP filing with the Registrar of Companies.

Click Here To Read All IPO News

Energy-transition and power-electronics company Eastman Auto & Power filed its IPO papers via confidential route with SEBI in December 2025. According to media reports, the company is expected to raise around Rs 1,800-2,000 crore via public issue, which is likely to a combination of fresh issue and an offer-for-sale.

Chennai-based technology services and software solutions provider Bonbloc Technolgies filed its IPO document in September 2025 to raise funds via maiden public issue.

The IPO comprises of fresh issuance of equity shares worth Rs 230 crore, and an offer-for-sale of 3 crore shares by promoter Bonbloc Inc which is owned by founders Durai Appadurai, and Sourirajan.

Bonbloc that builds AI-powered SaaS solutions and Internet of Things products proposed to invest Rs 136 crore of proceeds from the fresh issue for the development of products and platforms, and Rs 12.9 crore for purchase of laptops. And the remainder funds will be utilised for inorganic growth through unidentified acquisitions and general corporate purposes.

Haryana-based Milestone Gears, which manufactures transmission components for tractor, construction equipment, electric vehicles, and heavy industries, filed IPO papers in November 2025, planning to raise up to Rs 1,100 crore via initial share sale.

The company proposed to mobilise Rs 800 crore by issuing fresh shares, while existing shareholders including promoters will be selling up to Rs 300 crore worth shares. Of the fresh issue component, it may consider raising up to Rs 160 crore in pre-IPO round.

Milestone Gears will utilise Rs 356.8 crore of fresh issue proceeds for cutting down certain outstanding debt, Rs 296.4 crore for setting up of a new manufacturing facility at Solan, and the remainder funds for general corporate purposes.