Once the SEBI issues observations on a company's draft papers, the firm is granted a one-year window to launch its Initial Public Offering (IPO) and raise capital.

IPO Pipeline: Avaada Electro, Grand Housing, Sonaselection Prepare To Go Public

The Securities and Exchange Board of India has given approval to three new initial public offerings or IPOs, including Vishal Nirmiti Ltd. Sonaselection India Ltd., and Grand Housing Ltd. Along with this the markets regulator has also approved pre-filing of Avaada Electro Ltd.

SEBI has issued observations on the draft document of Avaada Electro which filed via confidential route, on April 15, while the observations on the preliminary papers of Sonaselection India and Grand Housing were issued by the regulator on April 16 and 17, respectively. Moreover, those of Vishal Nirmiti were approved earlier on April 9, 2026, as per the processing status of draft offer documents published on April 17.

Once the SEBI issues observations on a company's draft papers, the firm is granted a one-year window to launch its Initial Public Offering (IPO) and raise capital.

In contrast, companies utilizing the confidential filing route are afforded a longer timeline of 18 months to go public. This extended period accounts for the additional regulatory steps required: these entities must first submit an Updated Draft Red Herring Prospectus (UDRHP) to SEBI before ultimately filing the Red Herring Prospectus (RHP) with the Registrar of Companies to formalize their IPO launch dates.

About Avaada Electro IPO

Solar panels maker Avaada Electro, the wholly owned subsidiary of Brookfield-backed Avaada Group, has filed Confidential Draft Red Herring Prospectus (DRHP) with the SEBI to raise funds via initial public offering (IPO). According to reports, the IPO size could be in the Rs 9,000-10,000 crore range.

About Sonaselection India

The initial public offering of Rajasthan based cotton fabrics producer Sonaselection India (IPO) comprises entirely a fresh issue of 1.43 crore equity shares by the company with no offer-for-sale (OFS) component.

The textile company plans to utilise Rs 80 crore of IPO proceeds for repayment of partial debt. As of October 2025, its total outstanding borrowings from banks stood at Rs 233.5 crore.

About Grand Housing

Chennai-based real estate developer Grand Housing's proposed IPO will consist entirely of an offer-for-sale of 3.55 crore equity shares by the promoter, with no fresh issue component.

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