SEBI has cleared the IPOs of Prism (OYO parent), Truhome Finance, Veegaland Developers, Advanta Enterprises and Mehta Hitech Industries between June 1 and June 5, 2026. The five issues together could raise nearly Rs 10,000 crore.
The Securities and Exchange Board of India has issued observations on the draft papers of five companies between June 1 and June 5, 2026, effectively giving them the green light to launch their public issues. Together the five could raise close to Rs 10,000 crore.
The cleared list is: Prism (parent of OYO), Truhome Finance, Veegaland Developers, Advanta Enterprises and Mehta Hitech Industries. These companies had filed their draft IPO papers with SEBI between January and March 2026, so the approvals are coming through in line with the regulator's stated 2-3 month processing target.
Prism: the biggest of the lot
OYO parent Prism is the headline name in this batch. The company is targeting a Rs 6,650 crore fundraise at a USD 7-8 billion valuation. It filed via the confidential pre-filing route in December 2025. The book running lead managers include Axis Capital, Citibank, Goldman Sachs, ICICI Securities, SBI Capital Markets, JM Financial, InCred Capital and Intensive Fiscal Services.
This is OYO's second attempt at going public, having withdrawn its earlier filing in 2022 at a USD 12 billion target. The current valuation is roughly a third lower.
Truhome Finance: Warburg Pincus-backed housing financier
Truhome Finance is looking to raise Rs 3,000 crore through a mix of fresh issue worth Rs 1,500 crore and an OFS of Rs 1,500 crore by promoter Mango Crest Investment Ltd. The fresh issue proceeds will go towards strengthening its capital base, supporting future lending growth and meeting RBI capital requirements.
Veegaland Developers: small but interesting
Veegaland Developers, part of the V-Guard Group, is raising Rs 250 crore. The entire issue is a fresh issue with no OFS component. Proceeds will fund ongoing and future real estate projects and land acquisitions. This is a much smaller issue than the others but worth tracking because of the V-Guard pedigree.
Advanta Enterprises: pure OFS from UPL
Agricultural seeds company Advanta Enterprises will run a pure offer for sale of 3.61 crore equity shares. Promoter UPL Ltd will offload about 2.81 crore shares, while investors Melwood Holdings II and KIA EBT Scheme 2 will sell the rest. Advanta itself will not receive any proceeds. The lead manager is JM Financial, with MUFG Intime as registrar.
Mehta Hitech Industries: the manufacturing pick
Mehta Hitech is setting up a new manufacturing facility at Sanand GIDC, Ahmedabad. The issue is a book-built fresh issue of up to 62 lakh equity shares of Rs 10 face value. Proceeds will go towards civil construction, equipment and machinery for the new plant, plus long-term working capital.
What this means for the IPO market
After a relatively quiet first five months of 2026, where mainboard activity was thin and the action was largely in SME issues, this batch of approvals signals the mainboard pipeline opening up again. Prism in particular will be a closely watched issue given its scale and the high-profile OYO brand. Whether the actual launches happen in Q3 or get pushed to Q4 depends on how the secondary market behaves over the next few weeks.