Upcoming IPO: SEBI Allowed 8 Companies Including Elevate Campuses, InCred Holdings to Float IPO

The Securities and Exchange Board of India (SEBI) has cleared the initial public offerings (IPO) plans of 8companies, including Elevate Campuses, InCred Holdings, Aarvee Engineering Consultants, and Laser Power & Infra. The regulator has also issued observations on the draft papers of Armee Infotech, Ardee Industries, Shankesh Jewellers, and SEDEMAC Mechatronics.

Timeline of SEBI Observations

SEBI issued observations on Laser Power & Infra’s draft papers on February 2, followed by Ardee Industries on February 3 and Aarvee Engineering Consultants on February 4. Elevate Campuses and InCred Holdings received observations on February 5, while Armee Infotech, Shankesh Jewellers, and SEDEMAC Mechatronics were cleared on February 6.

Issuance of observations on the Draft Red Herring Prospectus (DRHP) allows companies to proceed with filing the Red Herring Prospectus (RHP) and launch their IPOs within one year. Companies opting for the confidential route have up to 18 months to launch their IPOs from the date of receiving observations.

Elevate Campuses IPO 

Mumbai-based Elevate Campuses, a professionally managed on-campus student accommodation provider backed by Singapore-headquartered Hillhouse Investment, approached SEBI in September last year to raise up to ₹2,550 crore through a completely fresh issue.

InCred Holdings’ IPO

InCred Holdings, the parent company of NBFC InCred Financial Services, has filed its DRHP via the confidential route. According to media reports, the IPO could be sized between ₹4,000 crore and ₹5,000 crore and may include both a fresh issue and an offer for sale.

Aarvee Engineering Consultants’ IPO

Telangana-based Aarvee Engineering Consultants filed its IPO papers in September 2025 to raise funds for debt reduction, investments in subsidiaries, and general corporate purposes. The issue includes a fresh share sale of ₹202.5 crore and an offer for sale of up to 67.5 lakh shares by promoter Venkatachala Chakrapani Redla.

Laser Power & Infra’s ₹1,200-Crore Issue

West Bengal-based Laser Power & Infra, a power cables and conductors manufacturer, plans to raise ₹1,200 crore via its IPO. The issue comprises a fresh issue of ₹800 crore and an offer for sale of ₹400 crore by promoters, with proceeds aimed at reducing debt. 

Armee Infotech’s Pure Fresh Issue

Armee Infotech, an IT infrastructure and managed services provider, refiled its draft papers in February to raise up to ₹300 crore. The proposed IPO is entirely a fresh issue, with no offer-for-sale component.

Ardee Industries’ Mixed Issue

Lead smelter and processor Ardee Industries submitted its draft IPO documents in September 2025. The offering consists of a fresh equity issue worth ₹320 crore and an offer for sale of 3.76 crore shares by promoters.

Shankesh Jewellers’ Public Issue

Mumbai-based Shankesh Jewellers, which manufactures handcrafted gold jewellery for major brands such as Kalyan Jewellers, Joyalukkas India, and P N Gadgil & Sons, plans an IPO of 4 crore equity shares. The issue includes a fresh issue of 3 crore shares and an offer for sale of 1 crore shares by promoters.

Also Read: India’s First Unicorn InMobi Moves Closer to Domestic IPO With $5 Billion Valuation Target

SEDEMAC Mechatronics’ OFS-Only IPO

Pune-based SEDEMAC Mechatronics, backed by Xponentia Capital Partners, A91 Partners, and 360 ONE, filed its draft documents in November last year. The IPO will be entirely an offer for sale of 80.43 lakh shares, with no fresh capital raise.

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.