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SEBI Greenlights Trio of New IPOs, Including Vishal, Sonaselection
19 Apr
Summary
- SEBI approved three new IPOs: Vishal Nirmiti, Sonaselection India, and Grand Housing.
- Avaada Electro's pre-filing was also approved via confidential route.
- Companies get one year to launch IPOs, but confidential filings get 18 months.
The Securities and Exchange Board of India (SEBI) has authorized three new initial public offerings (IPOs). These include Vishal Nirmiti Ltd., Sonaselection India Ltd., and Grand Housing Ltd. Additionally, SEBI has approved the pre-filing of Avaada Electro Ltd.'s IPO, which utilized a confidential submission process.
SEBI issued observations on Avaada Electro's confidential draft on April 15, 2026. Observations for Sonaselection India and Grand Housing followed on April 16 and 17, 2026, respectively. Vishal Nirmiti's IPO received approval on April 9, 2026, according to information released on April 17, 2026.
Generally, SEBI's observation grants companies a one-year period to launch their IPO. However, those opting for confidential filings benefit from an 18-month window. This extended period accommodates additional regulatory steps, including the submission of an Updated Draft Red Herring Prospectus (UDRHP) before the final Red Herring Prospectus (RHP) filing.
Avaada Electro, a solar panel maker and subsidiary of Avaada Group, is expected to raise between Rs 9,000-10,000 crore through its IPO. Sonaselection India, a Rajasthan-based cotton fabrics producer, will issue 1.43 crore equity shares for its IPO, with Rs 80 crore allocated for debt repayment. Chennai-based Grand Housing's IPO will be an offer-for-sale of 3.55 crore equity shares by its promoter.
