IPOs in pipeline: Inox Clean Energy, Royal Chain, Technopaints among companies filing DRHP with SEBI
Five companies have filed or pre-filed IPO papers with SEBI, including Inox Clean Energy, Royal Chain, Technopaints and Shreejikrupa Project.
- Sep 30, 2026,
- Updated Sep 30, 2026 1:10 PM IST
Five companies across multiple sectors have have filed or pre-filed draft red herring prospectuses with the Securities and Exchange Board of India (SEBI) for proposed initial public offerings (IPO). The planned issues range from Rs 500 crore to Rs 10,000 crore, with proceeds proposed to be used for expansion, debt repayment, equipment purchases, working capital and general corporate purposes.
The filings cover Technopaints and Chemicals, Wadhwa Group Holdings, Shreejikrupa Project, Inox Clean Energy and Royal Chain. While most have disclosed the size and structure of their offers, Wadhwa Group Holdings has not shared those details in the available information. Merchant bankers and registrars have been named for most of the proposed issues.
Technopaints and Chemicals Technopaints and Chemicals has filed papers for a Rs 500 crore IPO comprising a fresh issue of up to Rs 325 crore and an offer for sale of up to Rs 175 crore. The company said fresh proceeds will go towards a greenfield paints manufacturing and innovation facility, incremental working capital and general corporate purposes.
The paints and coatings maker, which also offers end-to-end application services under its supply and apply model, had more than 1,200 SKUs as of July 31, 2026, two manufacturing facilities with a combined installed capacity of 126,095 KL/MT a year, and an order book of Rs 994.69 crore. Its revenue rose to Rs 350 crore in FY26 from Rs 135 crore in FY24. Anand Rathi Advisors is the book running lead manager and KFin Technologies is the registrar.
Wadhwa Group Holdings The holding company of Mumbai-based real estate developer The Wadhwa Group, has pre-filed its DRHP with SEBI for a proposed IPO, though the issue size and structure were not disclosed in the available information. The group has operated for more than five decades and has undertaken over 250 projects across residential, commercial and township segments.
Its completed, ongoing and future developments span around 45 million sq. ft. across the Mumbai Metropolitan Region. The group serves more than 35,000 customers and has over 150 multinational corporations among its clientele. Wadhwa Wise City in Panvel is among its flagship developments.
Shreejikrupa Project Infrastructure developer Shreejikrupa Project has filed its DRHP for a Rs 500 crore IPO, comprising a fresh issue of up to Rs 410 crore and an offer for sale of up to Rs 90 crore. The company undertakes projects across academic and healthcare infrastructure, residential and office buildings, and other specialised works, mainly for government and government-related entities.
As of June 30, 2026, it had 228 projects across 11 states and two Union Territories, with an order book of Rs 3,700.80 crore. Revenue grew at a 59.79 per cent CAGR between FY24 and FY26 to Rs 1,385.68 crore, while profit rose to Rs 79.34 crore. The fresh issue proceeds are proposed to be used for equipment, machinery and working capital. Anand Rathi Advisors and Intensive Fiscal Services are the book running lead managers.
Inox Clean Energy Inox Clean Energy has filed for a Rs 10,000 crore IPO comprising a fresh issue of up to Rs 8,000 crore and an offer for sale of up to Rs 2,000 crore. The company said the fresh proceeds will primarily go towards repayment or prepayment of outstanding borrowings and general corporate purposes. Part of the INOXGFL Group, it operates renewable power generation and solar manufacturing businesses.
As of August 31, 2026, its renewable independent power producer portfolio stood at 9.29 GW, while operational solar module manufacturing capacity stood at 6 GW. The book running lead managers are Nuvama Wealth Management, CLSA India, Emirates NBD Capital India, HSBC Securities, ICICI Securities, IIFL Capital Services, JM Financial, Motilal Oswal Investment Advisors and UBS Securities India.
Royal Chain The gold jewellery manufacturer has filed its DRHP for a Rs 1,000 crore IPO comprising a fresh issue of up to Rs 850 crore and an offer for sale of up to Rs 150 crore by promoter selling shareholders. The company is a vertically integrated original design manufacturer of gold chains and jewellery and serves organised retailers including Titan, Kalyan Jewellers, PNG Jewellers and Senco Gold. As of June 30, 2026, it had more than 27,000 designs.
Its Mahape facility has an annual installed capacity of 12,000 kg of gold jewellery and is supported by more than 700 specialised machines. The fresh issue proceeds will be used to repay or prepay debt and for general corporate purposes. JM Financial and 360 ONE WAM are the book running lead managers, while MUFG Intime India is the registrar.
Five companies across multiple sectors have have filed or pre-filed draft red herring prospectuses with the Securities and Exchange Board of India (SEBI) for proposed initial public offerings (IPO). The planned issues range from Rs 500 crore to Rs 10,000 crore, with proceeds proposed to be used for expansion, debt repayment, equipment purchases, working capital and general corporate purposes.
The filings cover Technopaints and Chemicals, Wadhwa Group Holdings, Shreejikrupa Project, Inox Clean Energy and Royal Chain. While most have disclosed the size and structure of their offers, Wadhwa Group Holdings has not shared those details in the available information. Merchant bankers and registrars have been named for most of the proposed issues.
Technopaints and Chemicals Technopaints and Chemicals has filed papers for a Rs 500 crore IPO comprising a fresh issue of up to Rs 325 crore and an offer for sale of up to Rs 175 crore. The company said fresh proceeds will go towards a greenfield paints manufacturing and innovation facility, incremental working capital and general corporate purposes.
The paints and coatings maker, which also offers end-to-end application services under its supply and apply model, had more than 1,200 SKUs as of July 31, 2026, two manufacturing facilities with a combined installed capacity of 126,095 KL/MT a year, and an order book of Rs 994.69 crore. Its revenue rose to Rs 350 crore in FY26 from Rs 135 crore in FY24. Anand Rathi Advisors is the book running lead manager and KFin Technologies is the registrar.
Wadhwa Group Holdings The holding company of Mumbai-based real estate developer The Wadhwa Group, has pre-filed its DRHP with SEBI for a proposed IPO, though the issue size and structure were not disclosed in the available information. The group has operated for more than five decades and has undertaken over 250 projects across residential, commercial and township segments.
Its completed, ongoing and future developments span around 45 million sq. ft. across the Mumbai Metropolitan Region. The group serves more than 35,000 customers and has over 150 multinational corporations among its clientele. Wadhwa Wise City in Panvel is among its flagship developments.
Shreejikrupa Project Infrastructure developer Shreejikrupa Project has filed its DRHP for a Rs 500 crore IPO, comprising a fresh issue of up to Rs 410 crore and an offer for sale of up to Rs 90 crore. The company undertakes projects across academic and healthcare infrastructure, residential and office buildings, and other specialised works, mainly for government and government-related entities.
As of June 30, 2026, it had 228 projects across 11 states and two Union Territories, with an order book of Rs 3,700.80 crore. Revenue grew at a 59.79 per cent CAGR between FY24 and FY26 to Rs 1,385.68 crore, while profit rose to Rs 79.34 crore. The fresh issue proceeds are proposed to be used for equipment, machinery and working capital. Anand Rathi Advisors and Intensive Fiscal Services are the book running lead managers.
Inox Clean Energy Inox Clean Energy has filed for a Rs 10,000 crore IPO comprising a fresh issue of up to Rs 8,000 crore and an offer for sale of up to Rs 2,000 crore. The company said the fresh proceeds will primarily go towards repayment or prepayment of outstanding borrowings and general corporate purposes. Part of the INOXGFL Group, it operates renewable power generation and solar manufacturing businesses.
As of August 31, 2026, its renewable independent power producer portfolio stood at 9.29 GW, while operational solar module manufacturing capacity stood at 6 GW. The book running lead managers are Nuvama Wealth Management, CLSA India, Emirates NBD Capital India, HSBC Securities, ICICI Securities, IIFL Capital Services, JM Financial, Motilal Oswal Investment Advisors and UBS Securities India.
Royal Chain The gold jewellery manufacturer has filed its DRHP for a Rs 1,000 crore IPO comprising a fresh issue of up to Rs 850 crore and an offer for sale of up to Rs 150 crore by promoter selling shareholders. The company is a vertically integrated original design manufacturer of gold chains and jewellery and serves organised retailers including Titan, Kalyan Jewellers, PNG Jewellers and Senco Gold. As of June 30, 2026, it had more than 27,000 designs.
Its Mahape facility has an annual installed capacity of 12,000 kg of gold jewellery and is supported by more than 700 specialised machines. The fresh issue proceeds will be used to repay or prepay debt and for general corporate purposes. JM Financial and 360 ONE WAM are the book running lead managers, while MUFG Intime India is the registrar.