The Securities and Exchange Board of India (SEBI) has granted approval to 3 companies including Bonbloc Technologies, Eastman Auto and Power, and Milestone Gears to proceed with their initial public offering (IPO) plans, according to regulatory updates.
SEBI issued its observations on the draft papers of Eastman Auto and Power and Bonbloc Technologies on March 5, followed by Milestone Gears on March 6.
Under SEBI rules, once observations are issued, companies can launch their public offerings within the next 12 months.
Eastman Auto and Power had filed its draft papers through the confidential route in December 2025.
Companies using this route are required to file updated documents before launching the issue and typically have up to 18 months to complete the process.
Eastman Auto and Power is expected to raise around ₹1,800-2,000 crore through its proposed public issue, according to news reports. The IPO is likely to include both a fresh issue of shares and an offer for sale by existing shareholders.
The company is part of the JRS Eastman Group and operates in battery storage, solar technologies and power electronics. Founded in 2000, the company supplies energy solutions used in residential as well as industrial applications.
Milestone Gears plans to raise up to ₹1,100 crore through its IPO. The issue structure includes a fresh issue of ₹800 crore and an offer for sale of ₹300 crore by promoters.
The company manufactures transmission components used in sectors such as tractors, construction equipment, electric vehicles, locomotives, and windmills. Its product portfolio includes bull gears, rear axles, spindles, bevel gears, and internal ring gears.
Milestone Gears operates 9 manufacturing facilities. The company supplies components to several domestic and international original equipment manufacturers, with some customer relationships extending for more than 18 years.
Chennai-based Bonbloc Technologies filed its IPO papers in September 2025. The issue consists of a fresh equity issue worth ₹230 crore and an offer for sale of up to 3 crore shares by promoter Bonbloc Inc.
The company develops artificial intelligence-based software-as-a-service platforms and Internet of Things products. It plans to use ₹136 crore from the fresh issue proceeds for product and platform development and ₹12.9 crore for purchasing laptops.
Remaining funds will be allocated for acquisitions and general corporate purposes.
Read More: Upcoming IPO: Shreni Shares Files DRHP With SEBI to Raise Funds!
With regulatory approvals in place, the 3 companies can now move ahead with their public offering plans, adding to the list of firms preparing to enter India’s primary market.
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.
Published on: Mar 7, 2026, 10:25 AM IST
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