withdrawn their IPO plans.
Significance of SEBI Observation Letter
An observation letter from SEBI is a critical step in the IPO process. Once received, companies are permitted to launch their IPO within 12 months. For firms filing draft papers through the confidential route, this timeline extends to 18 months. Companies must submit an updated draft prospectus before filing the final offer document.
Timeline of Observation Letters
| Company | Date of SEBI Observation Letter |
| Molbio Diagnostics | 1 December 2025 |
| Leap India | 5 December 2025 |
| Eldorado Agritech | 5 December 2025 |
| Technocraft Ventures | Last week of November 2025 |
| Foodlink F&B Holdings | Last week of November 2025 |
Details of the IPOs
| Company | Industry / Focus | IPO Size | Components |
| Molbio Diagnostics | Molecular diagnostics (Truenat platform) | ₹200 crore fresh equity + sale of up to 1.25 crore shares | Fresh issue + OFS |
| Leap India | Pallet pooling & supply chain | ₹2,400 crore | Fresh equity ₹400 crore + OFS ₹2,000 crore |
| Foodlink F&B Holdings | Luxury catering & restaurants | ₹160 crore fresh equity + sale of up to 1.19 crore shares | Fresh issue + OFS |
| Technocraft Ventures | Sewerage & wastewater treatment | 1.19 crore shares | Large fresh issue included |
| Eldorado Agritech | Seeds & agri-inputs | ₹1,000 crore | Mix of fresh shares and promoter sale |
Companies Withdrawing IPO Plans
- Inox Clean Energy: Had planned a ₹6,000 crore IPO but withdrew draft documents.
- Sky Alloys and Power: Stepped back from its proposed public issue.
Summary:
SEBI has approved IPO plans for Molbio Diagnostics, Leap India, Foodlink F&B, Technocraft Ventures, and Eldorado Agritech, allowing them to raise capital through a combination of fresh equity and promoter share sales. Inox Clean Energy and Sky Alloys and Power have withdrawn their IPOs. The approvals mark a significant step for these companies to enter the public market and raise growth capital.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.