SEBI Clears 5 IPOs Including OYO Parent Oravel Stays and Advanta Enterprises

The Securities and Exchange Board of India (SEBI), a capital markets regulator, approved five initial public offerings (IPOs), including Oravel Stays, the parent company of OYO, and Advanta Enterprises during the week ended June 5. The SEBI also cleared three additional public issues: Truhome Finance, Mehta Hitech Industries, and Veegaland Developers.

On June 1, the SEBI released observations about Veegaland Developers’ and Truhome Finance’s preliminary documents. On June 2, OYO IPO also received observations. On June 3 and June 5, the regulator issued observations on the IPO documents of Advanta Enterprises and Mehta Hitech Industries.

When observations are issued, the firm is allowed to file the Red Herring Prospectus (RHP) with the Registrar of Companies and begin its initial public offering (IPO) within a year of obtaining the observation letter.

The Securities and Exchange Board of India (SEBI) approved OYO parent Prism Hotels and Resorts’ proposed initial public offering (IPO) last week. The OYO parent company secretly submitted draft documents for a potential Rs 6,650-crore initial public offering (IPO) through a new share sale in December 2025.

The business was aiming for a valuation of about $7–8 billion, which was in contrast to the roughly $12 billion valuation it had sought during its prior listing effort in 2021.

Advanta Enterprises filed preliminary papers for an IPO with the capital markets on January 19, 2026 while Veegaland Developers and Mehta Hitech Industries submitted their draft papers with SEBI on December 30, 2025. Truhome Finance submitted its draft papers on March 9, 2026.

Veegaland Developers, a real estate development business based in Kerala, intends to collect Rs 250 crore through its first public offering, which consists of a completely new share issuance.

The business plans to use the IPO proceeds for general corporate objectives, the development of its current and future projects, the purchase of an identified land parcel for residential real estate development, and the financing of future purchases of unidentified land parcels.

Warburg Pincus backed TruHome Finance, an affordable housing loan company with a retail focus, plans to raise Rs 3,000 crore through its IPO. The IPO will comprise of a fresh issue and an offer-for-sale (OFS) component, each aggregating Rs 1,500 crore. Mango Crest Investment, a promoter and affiliate of Warburg Pincus, the US-based private equity firm, will be the selling stakeholder in the OFS.

TruHome Finance intends to use the net proceeds from the new issuance to supplement its capital base and cover future capital needs, such as potential loan requirements brought on by the expansion of its business.

The whole offer-for-sale (OFS) of 3.61 crore shares by promoter UPL and investors Melwood Holdings II and KIA EBT Scheme 2 comprises the initial public offering (IPO) of UPL subsidiary and Hyderabad-based agricultural solutions company Advanta Enterprises. There is no new issue component to the public issue.

Mehta Hitech Industries, a Gujarat-based manufacturer of CO2 laser equipment, fiber laser equipment, CNC routers and digital printers is planning to come out with a public offer with only a fresh issue of 62 lakh shares without any OFS component.

The business plans to use the proceeds from the new issue for general corporate objectives, long-term working capital requirements, and the establishment of a new manufacturing plant at Sanand GIDC in Gujarat.