New IPOs Alert: Zepto, Dhoot Transmission, 4 others get SEBI's approval for public offer

New IPOs Alert: Markets regulator Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) plans of six companies. They include quick commerce unicorn Zepto, auto components manufacturer Dhoot Transmission, Grade A industrial and logistics parks developer Horizon Industrial Parks, medical device manufacturer Surgiwear, crop solution company Crystal Crop Protection and hospitality solution provider Hotel Polo Towers.

These companies had filed their draft red herring prospectuses (DRHPs) between October 2025 and February 2026 and received SEBI's observations during May 4-8.

In SEBI's terminology, receiving an observation means approval to float a public offering.

Zepto IPO

Zepto had filed its preliminary papers with SEBI in December via a confidential route.

Post listing, Zepto will join its competitors Swiggy and Zomato, both of which are already listed on the stock exchanges.

The confidential pre-filing route allows companies to engage with SEBI for initial feedback on its draft document without disclosing the details.

Dhoot Transmission IPO

Dhoot Transmission had also filed a confidential DRHP.

Private equity major Bain Capital-backed Dhoot Transmission Limited is seeking to raise USD 250 million (about ₹2,258 crore) through its IPO.

The proposed initial public offering will consist of a fresh issuance of shares and an offer for sale (OFS) component by existing investors.

Horizon Industrial Parks IPO

Global private equity firm Blackstone-backed Horizon Industrial Parks seeks to raise ₹2,600 crore through its IPO, which is exclusively a fresh offer of equity shares, with no OFS component.

Funds to the tune of ₹2,250 crore will be used to clear debt and rest for general corporate purposes.

Surgiwear

Uttar Pradesh-based Surgiwear's proposed public offer is a mix of a fresh issue of shares valued at ₹370 crore and an OFS of up to ₹370 crore by promoter Ghanshyam Das Agarwal.

Funds will be utilised to buy machinery, debt repayment and general corporate purposes.

Crystal Crop Protection IPO

Crop solutions firm Crystal Crop Protection plans to mobilise funds through an IPO comprising a fresh issue of shares valued at ₹600 crore. Apart from fresh issues, there will be an OFS of 74,05,387 shares by promoters and investors, according to the draft papers.

As a part of the OFS, existing investors -- International Finance Corporation and IFC Emerging Asia Fund LP -- would offload shares.

Proceeds from the fresh issue would be used for debt payment of the company as well as its subsidiary, Saffire Crop Science, funding inorganic growth through unidentified acquisitions and strategic initiatives and general corporate purposes, draft papers showed.

Hotel Polo Towers IPO

Hotel Polo Towers' proposed IPO is a combination of a fresh issue of shares worth ₹300 crore and an OFS of 71.2 lakh shares by promoters, draft papers showed.

Hotel Polo Towers develops, owns, operates and manages a chain of upscale and midscale hotels and resorts in northeast, east and north India under the 'Polo' and 'Max' brands.

Shares of these six companies will be listed on the BSE and NSE.