IPO rush continues: Anarock, BS Sponge, Kataline, Sunil Gold among 7 companies file DRHPs with SEBI

India’s IPO pipeline continued to expand, with six companies across real estate advisory, manufacturing, road safety, gold jewellery, infrastructure engineering and steel filing draft red herring prospectuses (DRHPs) with SEBI for proposed public issues.  

Anarock Property Consultants Mumbai-based Anarock Property Consultants has filed DRHP for a Rs 1,000-crore IPO, comprising a fresh issue of up to Rs 550 crore and an offer for sale of up to Rs 450 crore. It may also consider a Rs 110-crore pre-IPO placement. The fresh proceeds will fund AI and technology investments, business expansion, talent augmentation, the Rs 148-crore DSP Design acquisition and other strategic initiatives.

Incorporated in 2011, Anarock provides transaction advisory, leasing and investment advisory, management and technology solutions across India and the Middle East. FY26 revenue stood at Rs 881.8 crore and net profit at Rs 93.2 crore. ICICI Securities, IIFL Capital Services and 360 ONE WAM are the lead managers, while KFin Technologies is the registrar.

Sarva Foam Industries Bhopal-based Sarva Foam Industries has filed DRHP for an IPO comprising a fresh issue of up to 54 lakh shares and an OFS of up to 13.5 lakh shares by promoter Kunal Giani. A pre-IPO placement may also be considered. The company plans to use Rs 90 crore from the fresh issue to set up a rebonded polyurethane foam facility and Rs 30 crore to repay borrowings and for general corporate purposes.

Incorporated in 2018, Sarva Foam converts PU foam trims and off-cuts into rebonded foam sheets, blocks and carpet underlays. Its four plants had combined capacity of 15,500 tonnes per annum as of March 2026. FY26 revenue rose to Rs 206.12 crore from Rs 174.84 crore. Beeline Capital Advisors is the lead manager and Bigshare Services is the registrar.  

Kataline Nagpur-based Kataline has filed DRHP for an IPO comprising a fresh issue of up to 43 lakh shares and an OFS of up to 43 lakh shares by promoters Amit Arvind Thatte and Ketaki Amit Thatte. It may also consider a pre-IPO placement of up to 6.7 lakh shares. The fresh proceeds will fund working capital, manufacturing upgrades, project execution equipment and general corporate purposes.

Incorporated in 2008, Kataline manufactures road safety marking products and components and undertakes project execution. Hot-applied thermoplastics contributed 84.82% of FY26 revenue. FY26 revenue rose 38.79% to Rs 220.58 crore, while net profit increased 61.15% to Rs 26.83 crore. InCred Capital Financial Services and Ashika Capital are the lead managers.  

Sunil Gold India B2B jewellery supplier Sunil Gold India has filed DRHP for a fresh issue of 2.1 crore shares and an OFS of up to 50 lakh shares by promoters Anil Jain and Shrenik Jain. It plans to use around Rs 220 crore of fresh proceeds for working capital and general corporate purposes.

Incorporated in 2012, Sunil Gold supplies handcrafted 22-karat gold jewellery to organised retail chains through supervised third-party karigars. Gold processing more than doubled to 1,029.5 kg in FY26 from 504.58 kg in FY25, while revenue jumped 155.64% to Rs 1,332.27 crore. Choice Capital Advisors is the sole lead manager.

BS Sponge Raigarh-based BS Sponge has filed DRHP for a Rs 1,000-crore IPO, comprising a fresh issue of up to Rs 800 crore and an OFS of up to Rs 200 crore. It plans to use Rs 650 crore of fresh proceeds to repay or pre-pay borrowings, with the balance for general corporate purposes.

Incorporated in 2005, BS Sponge manufactures sponge iron, billets, slabs, TMT bars, wire rods, HR coils, ERW pipes and ferro alloys. Its aggregate capacity across semi-finished and value-added steel products stood at 16.28 lakh tonnes per annum as of March 2026. FY26 revenue rose to Rs 2,592.52 crore and profit to Rs 171.11 crore. ICICI Securities and Motilal Oswal Investment Advisors are the lead managers.

Pioneer Fabricators New Delhi-based Pioneer Fabricators has filed DRHP for a Rs 190-crore IPO comprising entirely of a fresh issue. The company plans to use Rs 63 crore for working capital, Rs 4.69 crore for its existing facility and Rs 58.6 crore for a proposed manufacturing unit. Incorporated in 1988, Pioneer Fabricators undertakes infrastructure engineering, fabrication and construction projects across railways, metros, roads, highways and industrial infrastructure.

Its order book stood at Rs 320.3 crore as of March 2026. The proposed Meerut facility is expected to add around 36,000 tonnes of capacity, taking aggregate capacity to about 52,000 tonnes. FY26 revenue stood at Rs 186.27 crore and net profit at Rs 25.6 crore. Corporate Professionals Capital is the lead manager and Bigshare Services is the registrar.

INOX Air Products INOX Air Products has filed its DRHP with SEBI for an IPO comprising of entirely an offer-for-sale (OFS) of up to 7.72 crore equity shares by existing shareholders. Established in 1963, the company is an integrated industrial, medical, electronic and specialty gases producer, serving more than 3,000 customers across 57 locations in 15 states and one Union Territory

It held a 22.4 per cent market share in India by revenue in FY26 and was the country’s largest integrated gases company by revenue. The company has on-site gas capacity of 16,074 TPD and merchant liquid gas capacity of 5,106 TPD, with both expected to increase through upcoming capacity. It also operates 739 cryogenic tankers and about 140,000 cylinders. Kotak Mahindra Capital, Citi, ICICI Securities and JPMorgan are the book running lead managers to the issue.