The Securities and Exchange Board of India (SEBI) has cleared the initial public offering (IPO) proposals of seven companies, paving the way for a fresh wave of listings in the primary market. Among the companies that have received regulatory approval are Yashoda Healthcare Services, Fusion CX and Orient Cables, as per data released on Tuesday.
The other firms granted approval include Turtlemint Fintech Solutions, RSB Retail India, SFC Environmental Technologies and Lohia Corp. With SEBI’s clearance in place, these companies can now move forward with their public issue plans.
Fundraising Plans and Regulatory Timeline
Collectively, the seven companies are expected to mobilise over ₹6,000 crore through their IPOs, according to market sources. The draft red herring prospectuses (DRHPs) were filed with SEBI between May and September 2025. Regulatory observations were issued during the period from December 8 to December 12, which, under SEBI norms, signifies approval to proceed with an IPO.
Yashoda Healthcare and Turtlemint Fintech
Yashoda Healthcare Services submitted its draft IPO papers in September using the confidential pre-filing route. Market participants estimate the issue size to be in the range of ₹3,000 crore to ₹4,000 crore.
Turtlemint Fintech Solutions, an insurtech company established in 2015, also opted for the confidential filing route. The company is backed by investors such as Amansa Capital, Jungle Ventures and Nexus Venture Partners. It has facilitated the sale of approximately 1.6 crore insurance policies through a distribution network of more than five lakh advisers.
Fusion CX and Orient Cables Offerings
Fusion CX, which operates in the customer experience services segment, plans to raise ₹1,000 crore through its IPO. The issue will comprise a fresh issue of ₹600 crore and an offer for sale (OFS) of ₹400 crore. The proceeds are proposed to be used for debt reduction, investments in subsidiaries, technology upgrades, acquisitions and general corporate purposes.
Orient Cables (India) Ltd is planning a ₹700 crore IPO, consisting of a ₹320 crore fresh issue and a ₹380 crore OFS. The company intends to utilise the funds for capacity expansion, equipment purchases, loan repayment and other corporate requirements.
Other Companies Cleared for Listing
RSB Retail India is proposing an IPO of up to ₹500 crore through a combination of fresh issue and OFS, with the proceeds earmarked for debt repayment and expansion of its retail footprint.
SFC Environmental Technologies, which provides wastewater treatment solutions, plans to raise ₹150 crore via a fresh issue, along with an OFS of 1.23 crore equity shares.
Lohia Corp, a manufacturer of textile machinery, will launch its IPO entirely through an offer for sale of 4.22 crore shares, without any fresh capital infusion.
Proposed Listings
All seven companies have indicated plans to list their equity shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Summary
SEBI has approved IPOs of seven companies, including Yashoda Healthcare, Fusion CX and Orient Cables, enabling them to proceed with public issues. The companies are collectively expected to raise over ₹6,000 crore. The offerings include a mix of fresh issues and offers for sale, with all seven firms planning dual listings on the BSE and NSE.
Disclaimer:
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