Virupaksha Organics, Duroflex, Hexagon Nutrition among 5 companies receive SEBI approval to go ahead with IPO plans

Upcoming IPOs list

• SEBI issues observations on draft documents of Premier Industrial Corporation, and Hexagon Nutrition on February 10
• SEBI issues observations on draft papers of Virupaksha Organics, and Duroflex on February 12
• SEBI issues observations on IPO papers of Om Power Transmission on February 13

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Virupaksha Organics, Duroflex, and Hexagon Nutrition are among five companies that have received approval from the Securities and Exchange Board of India (SEBI) in the current week, setting the stage for floating their IPOs. The capital markets regulator also cleared the draft papers of Premier Industrial Corporation, and Om Power Transmission.

As per the processing status of draft offer documents published on February 13, the SEBI has issued observations on draft documents of Premier Industrial Corporation, and Hexagon Nutrition on February 10, Virupaksha Organics, and Duroflex on February 12, and Om Power Transmission on February 13.

The issuance of observations on draft papers by the capital market regulator means the company is allowed to go ahead with its fund raising plan by launching initial public offering (IPO) within the next one year.

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Telangana-based pharmaceutical firm Virupaksha Organics filed its draft red herring prospectus (DRHP) with SEBI in September 2025 to raise Rs 740 crore through initial share sale for capacity expansion and repaying debt. The IPO comprises of entirely fresh issue with no fresh issue component.

Mattress maker Duroflex has approached capital markets by filing draft papers in October 2025, planning to raise funds via IPO which is a combination of fresh issuance of equity shares worth Rs 183.6 crore, and an offer-for-sale (OFS) of 2.25 crore shares by promoters, and investor Lighthouse India.

Duroflex, among the top three mattress companies in India by market share, intends to utilize fresh issue proceeds for setting up 120 new company-owned company-operated (COCO) stores; meeting lease, sub-lease rent, and license fee obligations for existing COCO stores and the manufacturing facility; and funding marketing and advertising initiatives.

Mumbai-based nutrition company Hexagon Nutrition has refiled its draft document with SEBI in September 2025 for fund raising via IPO. It is pure OFS of 3.08 crore equity shares by promoters.

Earlier, Hexagon Nutrition that offers customised vitamin and mineral premixes to leading Indian and multinational FMCG companies had tapped capital markets by filing DRHP in December 2021 to raise Rs 600 crore via IPO. Subsequently the markets regulator cleared the said draft papers in March 2022 but the company did not launch its IPO.

Another Mumbai-based firm Premier Industrial Corporation, which operates in powders and wires categories of welding consumables industry, filed IPO papers in September 2025 for 2.79-crore shares IPO.

The public issue is a mix of fresh issue of 2.25 crore equity shares, and an offer-for-sale of 54 lakh shares by promoters.

Ahmedabad-based power transmission infrastructure EPC company Om Power Transmission also approached capital markets in September 2025 to raise funds via maiden public issue of 1 crore equity shares. The IPO comprises of fresh issue of 90 lakh shares, and an OFS of 10 lakh shares by promoters.