SBI Mutual Fund, AGS Health, PGP Glass and 2 Other Companies Receive SEBI Approval for IPOs

5 companies secured approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings (IPOs). The list includes SBI Mutual Fund, AGS Health, PGP Glass, Shreni Shares, and SRIT India.

With regulatory approval in place, these companies can now move forward with their plans to raise funds from public investors.

SBI Mutual Fund IPO Expected to Be One of the Largest

SBI Mutual Fund, the country's largest asset management company, has received SEBI's approval for an IPO that is estimated to be worth around ₹13,000 crore.

According to the draft red herring prospectus (DRHP), the issue will be entirely an offer for sale (OFS). Existing shareholders, including State Bank of India (SBI) and Amundi India Holding, will sell up to 20.37 crore shares through the public issue.

The IPO is expected to hit the market next month. Once listed, SBI Mutual Fund will join other listed asset management companies such as HDFC AMC, ICICI Prudential AMC, UTI AMC, Nippon Life India Asset Management, Aditya Birla Sun Life AMC, and Shriram AMC.

AGS Health and PGP Glass Plan Multi-Crore Public Issues

AGS Health and PGP Glass have also received approval from SEBI after filing their IPO documents through the confidential filing route.

AGS Health is expected to raise around ₹4,500 crore through its IPO, while PGP Glass may raise approximately ₹4,100 crore.

SEBI received the confidential draft documents from both companies between February and March 2026 and issued its observations during June. In regulatory terms, an observation from SEBI indicates that a company can proceed with its public issue.

Shreni Shares IPO to Include Fresh Issue and OFS

The proposed IPO of Shreni Shares will consist of a fresh issue of up to 69 lakh equity shares along with an offer for sale of up to 82 lakh shares by existing shareholders.

The company plans to use the proceeds from the fresh issue to meet working capital requirements, repay or prepay certain borrowings, and support general corporate purposes.

SRIT India Plans Fresh Share Issue

IT and software solutions provider SRIT India has also received SEBI's approval for its IPO.

As per the draft papers, the company plans to issue 1.68 crore fresh equity shares. The funds raised will be used for product modernisation and redevelopment, working capital needs, potential acquisitions, and other corporate purposes.

Read More: Jio Platforms IPO: Board Approves DRHP Filing for Fresh Issue of Up to 27 Crore Shares!

Conclusion

SEBI's approval for the IPOs of SBI Mutual Fund, AGS Health, PGP Glass, Shreni Shares, and SRIT India marks another significant development in India's active primary market. 

Want to read stock market updates in Hindi? Angel One News gives comprehensive share market news in Hindi.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.