7 Companies Including Meesho and Shiprocket Secure Sebi Approval for Rs 7,700 Crore IPOs

In regulatory terminology, Sebi's observation represents official clearance for companies to proceed with public issues.

New Delhi:

Seven companies, including Softbank-backed e-commerce platform Meesho and Temasek-backed e-commerce enablement service Shiprocket, have received Sebi's approval to collectively raise approximately Rs 7,700 crore through initial public offerings (IPOs), according to an update from the markets regulator on Monday.

The regulatory approvals also extend to German Green Steel and Power, Allied Engineering Works, Skyways Air Services, Rajputana Stainless, and Manika Plastech.

All seven organizations, which submitted their preliminary IPO documents to Sebi between May and July, received regulatory observations during the period of October 14 to 31, as indicated in the update.

In the regulatory framework, Sebi's observation effectively constitutes clearance for launching a public issue.

This approval arrives during a significant boom in India's primary market activity. During 2025, 86 companies have already accessed the mainboard market through their maiden public offerings, with additional issues from companies like Groww and Pine Labs scheduled for this week.

Collectively, these seven approved companies aim to raise approximately Rs 7,700 crore.

Meanwhile, Bombay Coated and Special Steels withdrew its draft IPO documents on October 30, while Sebi returned the preliminary IPO papers of Vishal Nirmiti on the same date.

According to draft papers, Meesho's proposed IPO includes a fresh issue of equity shares totaling up to Rs 4,250 crore and an offer for sale (OFS) of 17.57 crore equity shares by existing shareholders.

The OFS component includes equity shares from early Meesho investors, including Elevation, Peak XV, Venture Highway, and Y Combinator, among others.

Meesho intends to utilize the net proceeds for investing in cloud infrastructure through Meesho Technologies Private Limited, compensating existing and new hires in machine learning, AI and technology teams for technological development, funding marketing and brand initiatives, supporting inorganic growth through acquisitions and strategic initiatives, and addressing general corporate requirements.

According to sources, Shiprocket is seeking to raise approximately Rs 2,000-2,500 crore through its public issue.

Both Meesho and Shiprocket filed their IPO papers through a confidential pre-filing route, which allows companies to withhold public disclosure of details under the draft red herring prospectus (DRHP) until later stages of the process.

Gujarat-based German Green Steel and Power plans to raise funds through its maiden public offering, comprising fresh issuance of equity shares worth Rs 450 crore, alongside an OFS of 20 lakh shares by promoters.

The company has indicated that funds will be allocated for expanding its manufacturing facility in Gujarat, establishing a hybrid wind and solar power plant, and repaying debt.

Smart energy meter manufacturer Allied Engineering Works aims to mobilize Rs 400 crore through fresh issuance of shares, complemented by an OFS of 75 lakh shares by the promoter.

Proceeds from the fresh issue will support the establishment of manufacturing facilities and address future working capital requirements.

Air freight forwarding and logistics company Skyways Air Services' IPO combines a fresh issue of 32.92 million equity shares with an OFS of 13.33 million equity shares from promoters and other selling shareholders.

Fresh issue funds will be directed toward debt payment, funding incremental working capital requirements, and supporting general corporate purposes.

Rajputana Stainless' proposed IPO comprises a fresh issue of up to 1.46 crore equity shares and an OFS of 62.5 lakh shares by the promoter. Capital raised from the IPO will fund capital expenditure, debt repayment, and general corporate purposes.

Mumbai-based Manika Plastech's IPO combines fresh issuance of equity shares worth Rs 115 crore with an OFS of 1.50 crore shares. Funds will be designated for capital expenditure related to plant and machinery purchases and debt repayment.