The Indian IPO market is set to get busier, with nine companies receiving approval from SEBI to move ahead with their initial public offerings (IPOs).
The companies include PlaySimple Games, Garuda Aerospace, Rediff.com India, Jakson Green and Adroit Industries.
The other companies are Expression 360 Services India, SNVA Traveltech, Naini Papers and Laxyo.
These companies had submitted their draft IPO documents between December 2025 and April 2026. SEBI issued its observations between August 3 and August 7.
In SEBI’s process, receiving these observations means the companies have received the regulatory clearance needed to proceed with their proposed public issues.
PlaySimple Games Plans ₹3,150 Crore IPO
PlaySimple Games is planning one of the biggest IPOs among the nine companies.
The casual mobile gaming company plans to raise around ₹3,150 crore, entirely through an Offer for Sale (OFS).
Under an OFS, existing shareholders sell their shares to investors, rather than the company issuing new shares to raise fresh capital.
The shares will be sold by promoter MTGx Gaming Holding AB, which owns more than 97% of PlaySimple Games.
The company reported revenue of ₹2,259.82 crore in FY25, compared with ₹1,876.86 crore in the previous financial year.
Garuda Aerospace Eyes ₹1,000 Crore IPO
Chennai-based drone company Garuda Aerospace is preparing for its first public offering.
The company plans to raise around ₹1,000 crore through the IPO.
The proposed issue is expected to include a ₹750 crore fresh issue and an OFS of ₹250 crore.
Garuda Aerospace manufactures and customises unmanned aerial vehicles, commonly known as drones.
Its drones are used across areas such as agriculture, defence and enterprise surveillance.
Rediff.com India and Jakson Green Also Get SEBI Clearance
Rediff.com India is among the companies that have received SEBI’s observations.
It is a subsidiary of AvenuesAI, which was earlier known as Infibeam Avenues.
The group operates businesses including the CCAvenue digital payment platform and BuildaBazaar enterprise software platform.
Another company to receive approval is Jakson Green.
Jakson Green had used SEBI’s confidential pre-filing route, which allows companies to receive regulatory feedback on their draft IPO documents before making them public.
Garuda Aerospace and SNVA Traveltech had also used this route.
Adroit Industries to Raise Fresh Funds
Automotive and industrial components maker Adroit Industries is also preparing to launch its IPO.
Its proposed issue includes a fresh issue of 98.97 lakh equity shares and an OFS of 13.5 lakh shares.
The company plans to use the money raised through the fresh issue for several purposes.
These include buying machinery and equipment, improving transportation infrastructure, investing in its subsidiary Adroit Driveshafts and repaying debt.
What Are the Other IPOs in the Pipeline?
Several other companies have also received SEBI’s observations.
Expression 360 Services India is planning an IPO consisting entirely of an OFS of up to 1.50 crore equity shares by its promoter.
Laxyo, an Indore-based railway infrastructure and EPC services company, plans to raise ₹150 crore through a fresh issue. It will not have an OFS component.
SNVA Traveltech operates the online travel platform Travomint.
Meanwhile, Naini Papers is an integrated paper manufacturer producing writing and printing paper, industrial paper and packaging paper.
All Nine Companies Plan to List on BSE and NSE
The nine companies that have received SEBI’s observations are:
PlaySimple Games
Garuda Aerospace
Rediff.com India
Jakson Green
Adroit Industries
Expression 360 Services India
SNVA Traveltech
Naini Papers
Laxyo
The shares of all nine companies are proposed to be listed on both the BSE and NSE.
However, receiving SEBI’s observations does not mean investors can subscribe immediately.
The companies will still need to complete the remaining steps and announce their IPO dates, price bands and other issue details before opening their offerings to the public.
With several companies now moving closer to the market, investors could see a busy IPO pipeline in the coming months.
