Upcoming IPOs: Monomark Engineering, Kay Jay Forgings, Bvishal Oil, Nityas Gems, 9 other companies file DRHPs; check full list

Upcoming IPOs: The financial year 2026-27 is set to witness a flurry of companies get listed on the stock exchanges, as at least 13 companies recently filed their draft red herring prospectuses with market regulator Securities and Exchange Board of India to raise funds via initial public offerings.

Companies that have filed draft papers include Nityas Gems and Jewellery, Gujarat Victory Forgings, Sathya Agencies, Cosmic PV Power, Absolute Project (India), Expression 360 Services India, Monomark Engineering (India) and Kay Jay Forgings.

Punjab Carbonic, Adroit Industries (India), Bvishal Oil and Energy, Sadbhav Futuretech and TC Terrytex have also filed their preliminary papers with SEBI.

Nityas Gems and Jewellery IPO

The proposed IPO of Nityas Gems and Jewellery, which is involved in the design, manufacturing and sale of lab-grown diamond-studded gold jewellery in India, is exclusively a fresh issuance of 14,456,000 shares.

The funds raised will be utilised for funding working capital requirements and general corporate purposes.

Gujarat Victory Forgings IPO

Non-ferrous metal products maker Gujarat Victory Forgings's initial share sale is a mix of 6,500,000 new equity shares and an offer for sale (OFS) of 13,200,00 shares by promoter Vijendrakumar Bishamber Gupta.

The fresh issue proceeds will be used for capital expenditure needs towards the expansion of its existing Unit III at Vadodara, debt clearance and general corporate purposes.

Sathya Agencies IPO

Consumer electronics retailer Sathya Agencies is looking to raise ₹600 crore. The proposed issue comprises a fresh issue of equity shares valued at ₹300 crore and OFS of ₹300 crore by promoters Johnson Asaria, J John Sathya and Charles Packiaraj.

The Tamil Nadu-based company proposes to use the proceeds from the fresh issue towards payment of partial purchase consideration for the acquisition of its unit, Unilet Appliances Pvt Ltd, repayment or prepayment of certain borrowings and general corporate purposes.

Cosmic PV Power IPO

The proposed ₹640 crore IPO of solar module manufacturer Cosmic PV Power Limited is a fresh issue of ₹540 crore and an OFS of ₹100 crore by promoters and existing shareholders.

The company intends to utilise the proceeds from the fresh issue towards establishing a greenfield manufacturing unit in Madhya Pradesh and general corporate purposes.

Absolute Project (India) IPO

The proposed issue of Absolute Project (India) is only a fresh issuance of 2,00,00,000 shares, without an OFS component.

The money raised will be used for funding capital expenditure towards the procurement of plant and machinery for modernisation of manufacturing facility I, procurement of plant and machinery for commencement of operations at manufacturing facility II and purchase of certain equipment and machinery for execution of Power EPC projects.

It will also be used for repayment of certain borrowings, working capital needs and general corporate purposes.

Expression 360 Services India IPO

The book-build issue of marketing communications and integrated services provider Expression 360 Services India is only an OFS of 15,000,000 shares by promoter Mohit Gupta.

Since there is no fresh issue component, the company will not get any proceeds from the issue.

Monomark Engineering IPO

Monomark Engineering, a leading comprehensive operation and maintenance provider for process plants, filed its DRHP on March 30.

The proposed IPO is just a fresh issue of 2,70,00,000 shares.

The net proceeds will be used for incremental working capital requirements and general corporate purposes.

TC Terrytex IPO

The proposed IPO of home textile manufacturer TC Terrytex is a fresh issue of shares aggregating to ₹170 crore and an OFS of 67,50,000 shares by investor Ashis Living Pvt Ltd.

The objectives of the issue include repayment of outstanding borrowings and general corporate purposes.

Adroit Industries IPO

Adroit Industries, a vertically integrated manufacturer and supplier of propeller shafts and related torque-transmission components, has filed draft papers with a fresh issuance of 9,897,000 shares and an OFS of 1,350,000 by promoter Mukesh Sangla HUF.

The net proceeds will be used towards funding capital expenditure needs, investment in subsidiaries and general corporate purposes.

Bvishal Oil and Energy IPO

Onshore oilfield services provider Bvishal Oil and Energy's initial public offering will be a mix of a fresh issuance of 1,80,00,000 shares and an OFS of 77,09,799 shares by existing investors.

The company will utilise the fresh issue proceeds for the acquisition of machinery and equipment, working capital needs and general corporate purposes.

Sadbhav Futuretech IPO

Solar EPC solutions provider Sadbhav Futuretech's proposed IPO consists of a fresh issuance of 2,55,00,000 shares and an OFS of ₹2,350 crore by promoters and a shareholder.

The net proceeds from the fresh issue will be utilised for working capital requirements and general corporate purposes.

Punjab Carbonic IPO

The proposed IPO of integrated carbon capture and utilisation and industrial gas solutions company Punjab Carbonic is a fresh issuance of 60,00,000 shares and an OFS of 35,00,000 by promoters Davinder Singh Kohli, Inder Pal Kaur Kohli, Jatinder Kaur Kohli and Amrit Paul Singh Kohli.

The money generated will be utilised for setting up two carbon dioxide recovery units, capital expenditure requirements, investment in a material subsidiary, debt repayment and general corporate purposes.

Kay Jay Forgings IPO

The ₹360 crore initial public offering is a fresh issuance of ₹300 crore and an OFS of ₹60 crore by promoters Gopal Krishan Kothari, Madhu Kothari, Amit Kothari and GK Kothari & Sons.

The fresh issue proceeds will be used for setting up new facilities in Ludhiana, establishing a power plant, debt clearance and general corporate purposes.