Meesho and Shiprocket lead the pack, tapping investor interest via confidential filings, while smaller industrial and logistics firms expand manufacturing and clean energy capacities. | Photo Credit: REUTERS/Francis Mascarenhas
Others that received regulatory approval are German Green Steel and Power, Allied Engineering Works, Skyways Air Services, Rajputana Stainless and Manika Plastech.
All seven companies, which filed their preliminary IPO papers with SEBI between May and July, obtained its observations during October 14 to 31, the update showed.
In regulatory terms, SEBI’s observation is equivalent to clearance for launching a public issue.
The approval comes at a time when the Indian market is experiencing a boom in primary market activity. In 2025, a total of 86 companies have already tapped the mainboard market through maiden public offerings, and a few issues, including Groww, Pine Labs, are lined up for this week.
Together, these seven companies are aiming to garner around Rs 7,700 crore.
Meanwhile, Bombay Coated and Special Steels withdrew its draft IPO documents on October 30, while SEBI has returned the preliminary IPO papers of Vishal Nirmiti on the same day.
According to the draft papers, Meesho’s proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 4,250 crore and an offer for sale (OFS) of 17.57 crore equity shares by certain existing shareholders.
The OFS includes the sale of equity shares by some of Meesho’s early investors, including Elevation, Peak XV, Venture Highway and Y Combinator, among others.
Meesho plans to utilise the net proceeds towards investment for cloud infrastructure in Meesho Technologies Private Limited, payment of salaries of existing and replacement hires for the machine learning and AI and technology teams for AI and technology development undertaken by Meesho, expenditure towards marketing and brand initiatives and funding inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
Shiprocket, according to sources, is looking to raise around Rs 2,000-2,500 crore through the public issue.
Meesho and Shiprocket filed their IPO papers through a confidential pre-filing route. This route allows companies to withhold public disclosure of details under the draft red herring prospectus (DRHP) until later stages.
Gujarat-based German Green Steel and Power is planning to raise funds through its maiden public offering, comprising fresh issuance of equity shares worth Rs 450 crore. Along with this, there would be an OFS of 20 lakh shares by promoters.
The company stated that funds will be used for the expansion of its manufacturing facility in Gujarat and setting up a hybrid wind and solar power plant, and repayment of debt.
Smart energy meter manufacturer Allied Engineering Works is aiming to mobilise Rs 400 crore through the fresh issuance of shares, along with an OFS of 75 lakh shares by the promoter.
Proceeds from the fresh issue will be used to set up manufacturing facilities and support the company’s future working capital requirements.
Air freight forwarding and logistics company Skyways Air Services’ IPO is a mix of fresh issue of 32.92 million equity shares and OFS of 13.33 million equity shares by promoters and other selling shareholders.
Funds from the fresh issue will be used for payment of debt, funding incremental working capital requirements and general corporate purposes.
Rajputana Stainless’ proposed IPO will comprise a fresh issue of up to 1.46 crore equity shares and an OFS of 62.5 lakh shares by the promoter. Fresh capital raised from the IPO will be utilised for funding capital expenditure, debt repayment and general corporate purposes.
The IPO of Mumbai-based Manika Plastech is a combination of fresh issuance of equity shares worth Rs 115 crore and an OFS of 1.50 crore shares. Funds will be earmarked for capital expenditure towards the purchase of plant and machinery and repaying debt.
Published on November 3, 2025
