Upcoming IPO: SEBI Approved DRHP of 4 Companies Including Shivalaya Construction, and Varmora Granito

The capital markets regulator, the Securities and Exchange Board of India (SEBI), has given approval to the draft red herring prospectuses (DRHPs) of Knack Packaging, Shivalaya Construction, Varmora Granito and Behari Lal Engineering. This means that the market regulator has cleared the way for their initial public offerings (IPOs) of these four companies. Collectively, the four companies are looking to raise around ₹1,400 crore through their IPOs.

Knack Packaging IPO

Knack Packaging’s proposed IPO includes a fresh issue of shares aggregating ₹475 crore and an OFS of 70 lakh shares by promoters and an existing shareholder. The company is a leading integrated packaging solutions provider with a strong focus on innovation, exports and sustainability, offering printed and laminated woven polypropylene bags and PLWPP pinch-bottom bags. 

Of the funds raised, ₹435 crore will be utilised to establish a new manufacturing facility at Borisana in Kadi, Mehsana district of Gujarat, while the balance will be used for general corporate purposes. Systematix Corporate Services, IDBI Capital Markets & Securities and Pantomath Capital Advisors are the book-running lead managers.

Varmora Granito IPO

Rajkot-based Varmora Granito plans to launch an IPO comprising a fresh issue of shares worth ₹400 crore, along with an offer for sale (OFS) of 5.24 crore shares by its promoters and investor Kastura Investments. The proceeds from the fresh issue will be used primarily to repay or prepay borrowings, with the remainder allocated for general corporate purposes. JM Financial, Goldman Sachs (India) Securities and SBI Capital Markets have been appointed as the book-running lead managers for the issue.

Shivalaya Construction IPO

Shivalaya Construction’s IPO will consist of a fresh issue worth ₹450 crore and an OFS of 2.48 crore shares by its promoters. The company plans to deploy ₹340 crore from the fresh issue towards debt repayment, with the remaining funds earmarked for general corporate requirements. The New Delhi-based firm may also consider a pre-IPO placement of up to ₹90 crore in consultation with its lead managers, which would reduce the size of the fresh issue if completed.

Also Read: Upcoming IPOs This Week (Dec 29, 2025 – Jan 2, 2026): SME Issues in Focus 

Behari Lal Engineering IPO

Punjab-based Behari Lal Engineering has proposed an IPO comprising a fresh issue of shares worth ₹110 crore and an OFS of 78.54 lakh shares by promoters and investor SG Tech Engineering. The fresh issue proceeds will be used to fund capital expenditure, repay or prepay borrowings, and meet general corporate expenses.

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.