Capital markets regulator SEBI has approved five initial public offerings (IPOs) aimed at raising approximately ₹2,100 crore from the market. However, the IPO proposal from Sterlite Electric, a company under the Vedanta Group, has been put on hold. Sterlite Electric submitted its draft red herring prospectus (DRHP) to SEBI in September, seeking to raise funds through an IPO of 1.55 crore equity shares. This plan includes a fresh issue of 77.93 lakh shares and an offer-for-sale (OFS) of 77.95 lakh shares by promoter Twin Star Overseas and other stakeholders.
In a notable move within the dairy sector, Milky Mist Dairy Food plans to raise ₹2,035 crore. This will involve the issuance of new equity shares valued at ₹1,785 crore and an OFS worth ₹250 crore, as outlined in its draft red herring prospectus. The funds acquired will be allocated for various purposes: approximately ₹750 crore for debt repayment, ₹415 crore for the expansion and modernization of the Perundurai manufacturing facility, ₹129 crore for the deployment of visi coolers, ice cream freezers, and chocolate coolers, with the remainder designated for general corporate expenses.
Additionally, Gaja Alternative Asset Management is seeking to raise ₹500-600 crore through what would be the first IPO by a private equity firm in India, having filed its DRHP through a confidential route earlier. Earlier this year, Gaja Capital appointed former SEBI Chairman UK Sinha as its Non-Executive Chairman and raised ₹125 crore in a pre-IPO placement, achieving a valuation of ₹1,625 crore.
Steamhouse India, a pioneering firm that specializes in centralized steam supply for industrial clients, is also in the IPO pipeline, with plans to raise between ₹500 and ₹700 crore. Although the size of this issue was not publicly disclosed following its Confidential DRHP filing with SEBI, reports suggest it will fall within the aforementioned range.
Curefoods, a Bengaluru-based cloud kitchen operator managing brands such as EatFit, CakeZone, and Krispy Kreme, has received SEBI’s approval for an ₹800 crore IPO. This offering will consist of both a fresh issue and an OFS, allowing several early investors the chance to exit partially or completely. Founder and CEO Ankit Nagori will not be selling any shares in this public offering. Of the ₹800 crore raised, ₹152 crore is earmarked for establishing new cloud kitchens and enhancing infrastructure, while ₹127 crore will be used for repaying debts.
Published on October 27, 2025.
