Hella Infra, Sify Infinit Space: IPO pipeline builds as SEBI approves 13 issues across infrastructure, tech, FMCG
The 13 companies span a wide range of sectors. Others that received SEBI’s approval include Pride Hotels, Oswal Cables, Sai Parenterals, Commtel Networks, Transline Technologies, UKB Electronics, Medicap Healthcare, Jay Jagdamba and Hella Infra. Among these, Jay Jagdamba and Hella Infra had submitted their IPO documents through the confidential filing route.
- Jan 23, 2026,
- Updated Jan 23, 2026 9:45 PM IST
The Securities and Exchange Board of India (SEBI) has granted approval for 13 companies to proceed with their initial public offerings (IPOs), including major issues from Hella Infra Market Ltd. and Sify Infinit Spaces Ltd. Hella Infra Market’s offering is set at Rs 5,000 crore, while Sify Infinit Spaces will see a Rs 3,700-crore book-building issue split between fresh equity and offer for sale (OFS) components. These approvals mark a significant step for the Indian IPO landscape as companies across several sectors prepare to list on the NSE and BSE.
The SEBI issued observations on Pride Hotels’ draft documents on January 16, followed by Oswal Cables on January 19 and Sai Parenterals on January 21. The regulator cleared draft papers of Transline Technologies, CMR Green Technologies and Commtel Networks on January 22, and issued observations for Jay Jagdamba, UKB Electronics, Medicap Healthcare, Purple Style Labs, BVG India, Sify Infinit Spaces and Hella Infra Market on January 23.
Sify Infinit Spaces
Sify Infinit Spaces’ IPO consists of a fresh issue of Rs 2,500 crore and an OFS of Rs 1,200 crore by existing shareholders. The company has appointed JM Financial Ltd. as the book running lead manager and Kfin Technologies Ltd. as registrar. Hella Infra Market, which filed its confidential draft red herring prospectus with SEBI in September 2025, will also list its equity shares on both the NSE and BSE upon completion of the process.
Other IPOs
Other notable IPOs receiving SEBI’s greenlight include Oswal Cables, UKB Electronics, CMR Green Technologies, Medicap Healthcare, Purple Style Labs, BVG India, Pride Hotels, Sai Parenteral’s, and Commtel Networks. Transline Technologies Ltd. is also among the companies approved to move forward with their public offerings. Each company has outlined distinct structures for their issues, ranging from fresh equity to offers for sale, reflecting a diverse capital-raising landscape.
Purple Style Labs
Purple Style Labs, which owns luxury fashion platform Pernia’s Pop-Up Shop, plans to raise ₹660 crore through a purely fresh issue, according to its draft red herring prospectus. Of the proceeds, about Rs 363.3 crore will be invested in its wholly owned subsidiary, PSL Retail, to meet lease liabilities for experience centres and back-end offices in India, Rs 128 crore will be allocated to sales and marketing, and the remainder will be used for general corporate purposes.
UKB Electronics
UKB Electronics will offer a mix of Rs 800 crore in fresh shares and a Rs 400-crore OFS, with Motilal Oswal Investment Advisors as the lead manager and Kfin Technologies as registrar. Oswal Cables’ issue includes a Rs 300-crore fresh issue and an OFS of up to 2.22 crore equity shares, managed by Pantomath Capital Advisors and with MUFG Intime India as registrar.
Pride Hotels
Pride Hotels plans a fresh issue of Rs 260 crore and an OFS of up to 3.92 crore equity shares. Motilal Oswal is the coordinating lead manager, and Kfin Technologies will serve as the registrar. BVG India’s IPO, managed by MUFG Intime, will follow a book-building format, with a Rs 300-crore fresh issue and an OFS of up to 2.85 crore equity shares.
Sai Parenteral
Sai Parenteral’s will bring a Rs 285-crore fresh issue and an OFS of up to 0.35 crore equity shares to the market, with Arihant Capital Markets as lead manager. Commtel Networks will proceed with a Rs 900-crore book-building issue comprising a Rs 150-crore fresh issue and a Rs 750-crore OFS, managed by Equirus Capital and MUFG Intime India as registrar.
CMR Green Technologies
CMR Green Technologies’ public issue is entirely OFS, amounting to 4.29 crore shares, with Equirus Capital as lead manager and Kfin Technologies as registrar. Purple Style Labs will offer a fresh issue of Rs 660 crore, continuing the trend of larger companies choosing to raise capital through equity offerings rather than OFS.
SEBI has also approved pre-filing for Jay Jagdamba Ltd., with Elara Capital (India) as book running lead manager. Most companies have yet to announce details such as IPO dates, price bands and lot sizes. All approved issues are expected to list on both major Indian exchanges, underscoring the regulator’s continued support for IPO activity in the country.
The Securities and Exchange Board of India (SEBI) has granted approval for 13 companies to proceed with their initial public offerings (IPOs), including major issues from Hella Infra Market Ltd. and Sify Infinit Spaces Ltd. Hella Infra Market’s offering is set at Rs 5,000 crore, while Sify Infinit Spaces will see a Rs 3,700-crore book-building issue split between fresh equity and offer for sale (OFS) components. These approvals mark a significant step for the Indian IPO landscape as companies across several sectors prepare to list on the NSE and BSE.
The SEBI issued observations on Pride Hotels’ draft documents on January 16, followed by Oswal Cables on January 19 and Sai Parenterals on January 21. The regulator cleared draft papers of Transline Technologies, CMR Green Technologies and Commtel Networks on January 22, and issued observations for Jay Jagdamba, UKB Electronics, Medicap Healthcare, Purple Style Labs, BVG India, Sify Infinit Spaces and Hella Infra Market on January 23.
Sify Infinit Spaces
Sify Infinit Spaces’ IPO consists of a fresh issue of Rs 2,500 crore and an OFS of Rs 1,200 crore by existing shareholders. The company has appointed JM Financial Ltd. as the book running lead manager and Kfin Technologies Ltd. as registrar. Hella Infra Market, which filed its confidential draft red herring prospectus with SEBI in September 2025, will also list its equity shares on both the NSE and BSE upon completion of the process.
Other IPOs
Other notable IPOs receiving SEBI’s greenlight include Oswal Cables, UKB Electronics, CMR Green Technologies, Medicap Healthcare, Purple Style Labs, BVG India, Pride Hotels, Sai Parenteral’s, and Commtel Networks. Transline Technologies Ltd. is also among the companies approved to move forward with their public offerings. Each company has outlined distinct structures for their issues, ranging from fresh equity to offers for sale, reflecting a diverse capital-raising landscape.
Purple Style Labs
Purple Style Labs, which owns luxury fashion platform Pernia’s Pop-Up Shop, plans to raise ₹660 crore through a purely fresh issue, according to its draft red herring prospectus. Of the proceeds, about Rs 363.3 crore will be invested in its wholly owned subsidiary, PSL Retail, to meet lease liabilities for experience centres and back-end offices in India, Rs 128 crore will be allocated to sales and marketing, and the remainder will be used for general corporate purposes.
UKB Electronics
UKB Electronics will offer a mix of Rs 800 crore in fresh shares and a Rs 400-crore OFS, with Motilal Oswal Investment Advisors as the lead manager and Kfin Technologies as registrar. Oswal Cables’ issue includes a Rs 300-crore fresh issue and an OFS of up to 2.22 crore equity shares, managed by Pantomath Capital Advisors and with MUFG Intime India as registrar.
Pride Hotels
Pride Hotels plans a fresh issue of Rs 260 crore and an OFS of up to 3.92 crore equity shares. Motilal Oswal is the coordinating lead manager, and Kfin Technologies will serve as the registrar. BVG India’s IPO, managed by MUFG Intime, will follow a book-building format, with a Rs 300-crore fresh issue and an OFS of up to 2.85 crore equity shares.
Sai Parenteral
Sai Parenteral’s will bring a Rs 285-crore fresh issue and an OFS of up to 0.35 crore equity shares to the market, with Arihant Capital Markets as lead manager. Commtel Networks will proceed with a Rs 900-crore book-building issue comprising a Rs 150-crore fresh issue and a Rs 750-crore OFS, managed by Equirus Capital and MUFG Intime India as registrar.
CMR Green Technologies
CMR Green Technologies’ public issue is entirely OFS, amounting to 4.29 crore shares, with Equirus Capital as lead manager and Kfin Technologies as registrar. Purple Style Labs will offer a fresh issue of Rs 660 crore, continuing the trend of larger companies choosing to raise capital through equity offerings rather than OFS.
SEBI has also approved pre-filing for Jay Jagdamba Ltd., with Elara Capital (India) as book running lead manager. Most companies have yet to announce details such as IPO dates, price bands and lot sizes. All approved issues are expected to list on both major Indian exchanges, underscoring the regulator’s continued support for IPO activity in the country.