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  1. New IPOs Alert: Prism, Veegaland Developers, Truhome Finance, 2 others get SEBI's approval to launch issues

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New IPOs Alert: Prism, Veegaland Developers, Truhome Finance, 2 others get SEBI's approval to launch issues

Journalist Kamal Joshi, former Republic TV and latestly editor, now associated with Upstox

2 min read | Updated on June 08, 2026, 08:50 IST

SUMMARY

Global travel-tech unicorn Oyo's parent company, Prism, intends to raise ₹6,650 crore through its public offer. The company had filed its preliminary papers through the confidential pre-filing route in December 2025.

 The proposed IPO of Veegaland Developers, a part of the V-Guard Group, is solely a fresh issuance of ₹250 crore with no OFS component. | Image: Shutterstock

The proposed IPO of Veegaland Developers, a part of the V-Guard Group, is solely a fresh issuance of ₹250 crore with no OFS component. | Image: Shutterstock

Upcoming IPOs: Capital markets regulator Securities and Exchange Board of India (SEBI) has given its nod to five companies to launch their initial public offerings. They include Oyo's parent entity Prism, real estate developer Veegaland Developers, Warburg Pincus-backed Truhome Finance, CO2 laser equipment manufacturer Mehta Hitech Industries and agricultural solutions company Advanta Enterprises.

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The five companies, which had filed their draft papers between January and March, received SEBI's observations from June 1 to June 5. In SEBI's terminology, receiving market regulator's observation means its approval to proceed with IPO.

Prism IPO

Global travel-tech unicorn Oyo's parent company, Prism, intends to raise ₹6,650 crore through its public offer.

The company had filed its preliminary papers through the confidential pre-filing route in December 2025.

As the next step, the firm will now file an updated-draft red herring prospectus, which will open for public comments for three weeks. People familiar with the development told PTI that Prism could file UDRHP by early July.

Truhome Finance

The proposed initial share sale of Truhome Finance consists of a fresh issue of shares aggregating to ₹1,500 crore and an offer-for-sale (OFS) worth ₹1,500 crore by promoter Mango Crest Investment Ltd.

The money raised will be used to strengthen its capital base, meet capital adequacy norms prescribed by the Reserve Bank of India (RBI), support future lending needs and for general corporate purposes.

Veegaland Developers IPO

The proposed IPO of Veegaland Developers, a part of the V-Guard Group, is solely a fresh issuance of ₹250 crore with no OFS component.

The net issue proceeds will be used for acquiring identified land parcels for residential developments and funding ongoing and upcoming real estate projects.

Advanta Enterprises IPO

Advanta Enterprises' IPO will be only an OFS of 3.61 crore shares by promoter UPL and investor shareholders Melwood Holdings II and KIA EBT Scheme 2.

Advanta Enterprises is a global aquricultural-solutions company, offering advanced hybrid seeds and post-harvest solutions.

Mehta Hitech Industries IPO

Ahmedabad-based Mehta Hitech Industries' issue is only a fresh issuance of 62 lakh shares.

The funds raised will be used for capital expenditure requirements, working capital needs and general corporate purposes.

The company is engaged in manufacturing CO2 laser equipment, fibre laser equipment, CNC routers and digital printers.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly editor, now associated with Upstox
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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