SEBI Approves IPO Plans of Prism, Truhome Finance, Veegaland Developers, and More

Five companies have received SEBI's nod to go public. Prism, Truhome Finance, Veegaland Developers, Advanta Enterprises, and Mehta Hitech Industries all secured regulatory approval between 1 June and 5 June 2026, setting the stage for a busy season of public listings across sectors ranging from hospitality and housing finance to agriculture and real estate.

Prism IPO - Issue Details

• Issue Type: Book-built IPO (Fresh Issue + OFS)
• Issue Size: Approximately ₹6,650 crore
• Face Value: To be announced
• Proposed Listing: NSE and BSE
• Book Running Lead Managers: JM Financial Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities, SBI Capital Markets Limited, InCred Capital and Intensive Fiscal Services.
• Registrar: To be announced

About Prism

Prism, formerly known as Oravel Stays Limited, is the parent company of OYO, one of India's leading hospitality and travel technology platforms. The company operates a technology-driven ecosystem that enables hotels and homeowners to manage accommodations while offering travellers access to a wide network of stays across multiple countries. Through its digital platform, Prism provides services spanning hotel bookings, vacation homes, and other travel-related solutions.

Truhome Finance IPO - Issue Details

• Issue Type: Book-built IPO (Fresh Issue + OFS)
• Total Issue Size: ₹3,000 crore
• Fresh Issue: ₹1,500 crore
• Offer for Sale (OFS): ₹1,500 crore
• Face Value: To be announced
• Proposed Listing: NSE and BSE
• Book Running Lead Managers: JM Financial Limited, IIFL Capital Services Limited, Jefferies India Limited and Kotak Mahindra Capital Company Limited
• Registrar: KFin Technologies Limited

Utilisation of Truhome IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

• Augmenting the company’s capital base to meet future capital requirements, including onward lending driven by business growth.

About Truhome Finance Limited

Truhome Finance Limited is a housing finance company focused on providing home loans and related mortgage products to retail customers across India. The company caters primarily to individuals seeking residential property financing and aims to expand homeownership opportunities through its lending solutions. Backed by global private equity firm Warburg Pincus, Truhome Finance has built a presence across multiple regions through its branch network and digital capabilities.

Veegaland Developers IPO - Issue Details

• Issue Type: Book-built IPO (Fresh Issue Only)
• Fresh Issue: ₹250 crore
• Face Value: ₹10 per share
• Proposed Listing: NSE and BSE
• Book Running Lead Managers: Cumulative Capital Private Limited
• Registrar: MUFG Intime India Private Limited

Utilisation of Veegaland Developers IPO Proceeds

The company intends to utilise the net proceeds from the fresh issue towards:

• Partially funding expenses for the development of ongoing and upcoming projects.
• Acquisition of identified land parcels for the development of residential real estate projects.
• Funding for the unidentified acquisition of land.
• General corporate purposes.

About Veegaland Developers Limited

Veegaland Developers Limited is a Kerala-based real estate development company engaged in constructing residential and mixed-use projects. Part of the V-Guard Group, the company focuses on developing housing projects that cater to a wide range of homebuyers. Over the years, Veegaland Developers has established a presence in South India's real estate market by developing apartments, villas, and integrated residential communities.

Advanta Enterprises IPO - Issue Details

• Issue Type: Book-built IPO (OFS Only)
• Offer for Sale (OFS): Up to 3.61 crore equity shares
• Face Value: ₹1 per share
• Proposed Listing: NSE and BSE
• Book Running Lead Managers: JM Financial Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited and Morgan Stanley India Company Private Limited.
• Registrar: MUFG Intime India Private Limited

About Advanta Enterprises Limited

Advanta Enterprises Limited is an agricultural solutions company engaged in the research, development, production, and marketing of seeds for various crop segments. The company operates across domestic and international markets and serves farmers through a portfolio of crop genetics and agricultural technologies. Advanta is part of the UPL Group and focuses on enhancing agricultural productivity through innovation-driven seed solutions.

Mehta Hitech Industries IPO - Issue Details

• Issue Type: Book-built IPO (Fresh Issue Only)
• Fresh Issue: Up to 0.62 crore equity shares
• Face Value: ₹10 per share
• Proposed Listing: NSE and BSE
• Book Running Lead Manager: Beeline Capital Advisors Private Limited
• Registrar: KFin Technologies Limited

Utilisation of Mehta Hitech Industries IPO Proceeds

The company intends to utilise the proceeds from the fresh issue towards:

• Funding capital expenditure requirements for civil construction work and towards purchase of equipment, plant and machinery for setting up a new manufacturing facility at Sanand GIDC, Ahmedabad District, Gujarat.
• Funding long-term working capital requirements of the Company.
• General corporate purposes.

About Mehta Hitech Industries Limited

Mehta Hitech Industries Limited is an Ahmedabad-based manufacturing company engaged in industrial and engineering operations. The company focuses on producing specialised products and solutions for various industrial applications while continuously expanding its manufacturing capabilities. Through its proposed capacity expansion and new manufacturing facility, Mehta Hitech Industries aims to strengthen its operational footprint and support future business growth.

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