Nine Indian companies have received regulatory approval from SEBI to proceed with their initial public offerings, signalling a busy phase in India’s IPO pipeline with notable firms like PlaySimple Games and Garuda Aerospace prepping for market debuts.
Nine Indian companies have cleared a key Securities and Exchange Board of India hurdle and are now free to press ahead with initial public offerings, according to the latest filings and market reports. The group includes PlaySimple Games, Garuda Aerospace, Rediff.com India, Jakson Green and Adroit Industries, alongside Expression 360 Services India, SNVA Traveltech, Naini Papers and Laxyo. Their draft papers were filed between December 2025 and April 2026, and SEBI issued its observations between August 3 and August 7, a step that effectively allows a public issue to proceed.
Among the most closely watched deals is PlaySimple Games, which plans to raise ₹3,150 crore entirely through an offer for sale by promoter MTGx Gaming Holding AB, according to Moneycontrol. The Bengaluru-based mobile games company, which has been described as India’s largest pure-play casual gaming business by revenue, reported ₹2,259.82 crore in revenue in FY25, up from ₹1,876.86 crore the year before. Its IPO will not bring fresh capital into the company; instead, existing shareholders will sell down their stakes.
Garuda Aerospace is also moving towards a public debut, with plans for a roughly ₹1,000 crore issue that would include a ₹750 crore fresh issue and a ₹250 crore offer for sale. Reports from IPO market trackers and business publications say the Chennai-based drone maker, which serves agriculture, defence and enterprise surveillance clients, had pre-filed its offer documents and is preparing for a listing that could value the company in the ₹4,000 crore to ₹5,000 crore range. Outlook Business also reported that the company approved a 1:5 stock split as it advanced towards the market.
The remaining approvals cover a broad mix of businesses. Rediff.com India is part of the AvenuesAI group, which also operates CCAvenue and BuildaBazaar. Jakson Green used SEBI’s confidential pre-filing route, while Garuda Aerospace and SNVA Traveltech also chose that route before moving ahead. Adroit Industries plans to raise money through both a fresh issue and a secondary sale, with proceeds earmarked for machinery, transport infrastructure, its subsidiary Adroit Driveshafts and debt repayment. Expression 360 Services India’s offer will be entirely an offer for sale, while Laxyo is planning a fresh issue of ₹150 crore, and SNVA Traveltech and Naini Papers are also lining up listings on both the BSE and NSE.
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