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PROCESSING STATUS OF DRAFT OFFER DOCUMENTS
As on April 10, 2026
SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 require every issuer, being an
unlisted company desirous of making an initial public offer, to file a draft offer document with SEBI through
a merchant banker(s). The merchant banker(s) correspond with SEBI on behalf of the issuer.
Given below is the processing status of draft offer documents filed with SEBI on which observations are yet
to be issued. The report is being updated on a weekly basis.
In case the draft offer document has remained unattended or there is an inordinate delay, the LM/Issuer
should not hesitate to write to the Chief General Manager, Shri Deep Mani Shah (deepmanis@sebi.gov.in)
or the Executive Director, Shri Jeevan Sonparote (jeevans@sebi.gov.in).
I. Draft Offer Document under process in SEBI:
S.No Name of the Issue Coordinating LM Type of Issue Date of Receipt Last Date of Communication
Equirus Capital Private
1 Hotel Polo Towers Limited IPO (Fresh + OFS) 08 October 2025 09 April 2026
Limited
2 Avaada Electro Limited ICICI Securities Limited Pre-filing 20 October 2025 08 April 2026
Motilal Oswal
3 Aspri Spirits Limited IPO (Fresh + OFS) 12 December 2025 24 March 2026
Investment Advisors Ltd.
Sonaselection India Choice Capital Advisors
4 IPO (Fresh Only) 17 December 2025 08 April 2026
Limited Private Limited
Pantomath Capital
5 RENNY STRIPS LIMITED IPO (Fresh + OFS) 17 December 2025 02 April 2026
Advisors Private Limited
Crystal Crop Protection
6 IIFL Capital Services Ltd IPO (Fresh + OFS) 18 December 2025 30 March 2026
Limited
SHIVGANGA DRILLERS Aryaman Financial
7 IPO (Fresh Only) 19 December 2025 06 April 2026
LIMITED Services Limited
WOG Technologies Unistone Capital Pvt.
8 IPO (Fresh + OFS) 29 December 2025 07 April 2026
Limited Ltd.
Yatayat Corporation India Unistone Capital Private
9 IPO (Fresh + OFS) 29 December 2025 16 March 2026
Limited Limited
Motilal Oswal
Casagrand Premier
10 Investment Advisors IPO (Fresh + OFS) 30 December 2025 06 March 2026
Builder Limited
Limited
Motilal Oswal
11 Surgiwear Limited Investment Advisors IPO (Fresh + OFS) 30 December 2025 30 March 2026
Limited
Horizon Industrial Parks
12 JM Financial Limited IPO (Fresh Only) 01 January 2026 02 March 2026
Limited
MEHTA HITECH Beeline Capital Advisors
13 IPO (Fresh Only) 02 January 2026 08 April 2026
INDUSTRIES LIMITED Private Limited
NEOLITE ZKW Anand Rathi Advisors
14 IPO (Fresh + OFS) 02 January 2026 09 April 2026
LIGHTINGS LIMITED Limited
Krishna Buildspace Mefcom Capital Markets
15 IPO (Fresh + OFS) 02 January 2026 17 March 2026
Limited Ltd
Hindustan Laboratories Choice Capital Advisors
16 IPO (Fresh + OFS) 06 January 2026 23 March 2026
Limited Private Limited
Veegaland Developers Cumulative Capital
17 IPO (Fresh Only) 09 January 2026 09 April 2026
Limited Private Limited
Kanohar Electricals Nuvama Wealth
18 IPO (Fresh + OFS) 27 January 2026 25 March 2026
Limited Management Ltd.
Bombay Coated and
19 Smart Horizon IPO (Fresh Only) 30 January 2026 10 April 2026
Speicla Steels Limited
Choice Capital Advisors
20 SRIT India Limited IPO (Fresh) 02 February 2026 14 March 2026
Private Limited
Nuvama Wealth
21 MARRI RETAIL LIMITED Management IPO (Fresh + OFS) 03 February 2026 30 March 2026
Limited
Bonfiglioli Transmissions
22 Axis Capital Limited IPO (OFS Only) 11 February 2026 02 April 2026
Limited
23 Moneyview Limited Axis Capital Ltd IPO (Fresh + OFS) 09 March 2026 02 April 2026
Swaraj Green Power and
24 Centrum Capital Limited IPO (Fresh + OFS) 16 March 2026 16 March 2026
Fuel LimitedSBI Funds Management Kotak Mahindra Capital
25 IPO (OFS Only) 19 March 2026 19 March 2026
Limited Company Limited
Aryaman Financial
26 RKB Global Limited IPO (Fresh + OFS) 20 March 2026 20 March 2026
Services Limited
27 Trenzet Infra Limited Unistone Capital Limited IPO (Fresh + OFS) 23 March 2026 23 March 2026
Arihant Capital Markets
28 Polite Powertech Limited IPO (Fresh + OFS) 23 March 2026 25 March 2026
Limited
Equirus Capital (P)
29 Bharat PET Limited IPO (Fresh + OFS) 25 March 2026 25 March 2026
Limited
Manipal Health Kotak Mahindra Capital
30 IPO (Fresh + OFS) 25 March 2026 25 March 2026
Enterprises Company Limited
31 Torrent Gas Ltd. Axis Capital Ltd. Pre-filing 25 March 2026 09 April 2026
Anand Rathi Advisors
32 Sathya Agencies Limited IPO (Fresh + OFS) 30 March 2026 08 April 2026
Limited
Indorient Financial
33 Laxyo Limited IPO (Fresh Only) 30 March 2026 30 March 2026
Services Limited
Sohan Lal Commodity Pantomath Capital
34 Pre-filing 31 March 2026 31 March 2026
Management Limited Advisors Private Limited
35 AGS Health Limited ICICI Securities Limited IPO (Fresh + OFS) 31 March 2026 07 April 2026
Keynote Financial
36 Rediff.com India Limited IPO (Fresh Only) 31 March 2026 31 March 2026
Services Limited
Bvishal Oil and Energy Unistone Capital Private
37 IPO (Fresh + OFS) 31 March 2026 08 April 2026
Limited Limited
Synergy Advanced Metals
38 Ambit Pvt. Ltd. Pre-filing 01 April 2026 01 April 2026
Limited
Expression 360 Services Smart Horizon Capital
39 IPO (OFS Only) 01 April 2026 01 April 2026
India Limited Advisors Pvt Ltd
Motilal Oswal
40 Rentomojo Investment Advisors IPO (Fresh + OFS) 01 April 2026 01 April 2026
Limited
SNVA Traveltech Limited Equirus Capital Private
41 Pre-filing 02 April 2026 02 April 2026
(Confidential) Limited
Chandan Steel Limited Motilal Oswal
42 Pre-filing 02 April 2026 02 April 2026
(Confidential) Investment Advisors Ltd.
COSMIC PV POWER Systematix Corporate
43 IPO (Fresh + OFS) 02 April 2026 02 April 2026
LIMITED Services Limited
Nuvama Investment
44 Pioneer Fil-med Ltd. IPO (Fresh + OFS) 02 April 2026 02 April 2026
Banking
Sadbhav Futuretech Beeline Capital Advisors
45 IPO (Fresh + OFS) 07 April 2026 07 April 2026
Limited Pvt. Ltd.
46 Intellius Recode Limited Inga Ventures Pvt. Ltd. IPO (Fresh + OFS) 07 April 2026 07 April 2026
GARUDA AEROSPACE
47 IIFL Capital Pre-filing 07 April 2026 09 April 2026
LIMITED
Nityas Gems and Choice Capital Advisors
48 IPO (Fresh Only) 07 April 2026 06 April 2026
Jewellery Limited Private Limited
Gujarat Victory Forgings Monarch Networth
49 IPO (Fresh + OFS) 07 April 2026 06 April 2026
Limited Capital Limited
Sobhagya Capital
50 T.C. Terrytex Limited IPO (Fresh + OFS) 09 April 2026 09 April 2026
Options Private Limited
II. Clarifications are sought by SEBI and response from LM is awaited:
S.No Name of the Issue Coordinating LM Type of Issue Date of Receipt Last Date of Communication
Pantomath Capital
1 Cotec Healthcare Limited IPO (Fresh + OFS) 19 September 2025 09 April 2026
Advisors Private Limited
RK Steel Manufacturing
2 GYR Capital Advisors IPO (Fresh Only) 01 October 2025 24 March 2026
Company Limited
3 Sterlite Electric Limited Axis Capital Limited IPO (Fresh + OFS) 03 October 2025 09 April 2026
Smart Horizon Capital
4 Grand Housing Limited IPO (OFS Only) 08 October 2025 10 April 2026
Advisors Private Ltd
Sundae Capital Advisors
5 MV Electrosystems Ltd. IPO (Fresh Only) 10 December 2025 07 April 2026
Pvt. Ltd.
Nuvama Wealth
6 Jakson Green Limited Pre-filing 26 December 2025 08 April 2026
Management Limited
Tonbo Imaging India
7 JM Financial Limited IPO (OFS Only) 30 December 2025 10 April 2026
Limited
8 Oravel Stays Limited Axis Capital Limited Pre-filing 01 January 2026 09 April 20269 Zepto Limited Axis Capital Ltd. Pre-filing 02 January 2026 18 February 2026
Emkay Global Financial
10 Deepa Jewellers Ltd. IPO (Fresh + OFS) 02 January 2026 09 April 2026
Services Ltd.
Anand Rathi Advisors
11 SS Retail Limited IPO (Fresh + OFS) 05 January 2026 09 April 2026
Limited
Khambatta Securities
12 Rodec Pharma Ltd. IPO (OFS Only) 20 January 2026 10 April 2026
Ltd.
Dhoot Transmission
13 Axis Capital Limited IPO (Fresh + OFS) 02 February 2026 07 April 2026
Limited
Aryaman Financial
14 Shreni Shares Limited IPO (Fresh + OFS) 04 March 2026 09 April 2026
Services Limited
Unistone Capital Private
15 Sunil Gold India Limited IPO (Fresh + OFS) 09 March 2026 10 April 2026
Limited
16 PGP Glass Limited Axis Capital Ltd Pre-filing 18 March 2026 10 April 2026
17 Truhome Finance Ltd. JM Financial Ltd. IPO (Fresh + OFS) 24 March 2026 10 April 2026
Monomark Engineering Holani Consultants
18 IPO (Fresh Only) 01 April 2026 10 April 2026
(India) Limited Private Ltd.
Zetwerk Manufacturing Kotak Mahindra Capital
19 Pre-filing 01 April 2026 10 April 2026
Business Ltd. Company Limited
III) In-principle approval from Exchanges are awaited:
S.No Name of the Issue Coordinating LM Type of Issue Date of Receipt Last Date of Communication
Intensive Financial
1 Jainam Broking Limited Pre-filing 07 October 2025 09 March 2026
Services Limited
IV) Comments sought from other regulators / Government agencies and
S.No Name of the Issue Coordinating LM Type of Issue Date of Receipt Last Date of Communication
EAAA India Alternatives
1 Axis Capital Limited IPO (OFS Only) 21 January 2026 20 March 2026
Limited
Advanta Enterprises
2 JM Financial Limited IPO (OFS Only) 22 January 2026 04 March 2026
Limited
V) Issuance of observations kept in abeyance:
S.No Name of the Issue Coordinating LM Type of Issue Date of Receipt Last Date of Communication
VI) Observations issued / withdrawn / returned during the week:
Observation letter issued /
S.No Name of the Issue Coordinating LM Type of Issue Date of Receipt
withdrawn / returned
Saffron Capital Advisors Observations issued during the Week
1 Vishal Nirmiti Limited IPO (Fresh + OFS) 08 January 2026
Private Limited on 09-04-2026
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