Sebi Approves IPO Plans of Zepto, Dhoot Transmission and 4 Other Companies

India’s IPO market continues to remain highly active as the Securities and Exchange Board of India (Sebi) has approved the public issue plans of six companies, including quick-commerce unicorn Zepto and auto components manufacturer Dhoot Transmission.

The approvals come at a time when investor interest in IPOs remains strong across startup, industrial, healthcare, logistics, and hospitality sectors.

Six Companies Receive Sebi Approval

The six companies that secured Sebi’s nod include:

Company	Sector
Zepto	Quick Commerce
Dhoot Transmission	Auto Components
Horizon Industrial Parks	Industrial & Logistics Parks
Surgiwear	Medical Devices
Crystal Crop Protection	Agrochemicals
Hotel Polo Towers	Hospitality

These companies received Sebi observations between May 4 and May 8, which is considered regulatory approval for launching IPOs.

Zepto IPO May Become One of India’s Biggest Startup Listings

Quick-commerce platform Zepto is reportedly planning to raise around ₹11,000 crore through its maiden public offering.

The company had confidentially filed its draft IPO papers with Sebi in December 2025.

If listed successfully, Zepto will join already-listed food delivery and quick-commerce rivals:

• Zomato
• Swiggy

Zepto has rapidly expanded across India’s quick-commerce market by offering ultra-fast grocery delivery services.

Dhoot Transmission Targets ₹2,258 Crore IPO

Bain Capital-backed Dhoot Transmission is aiming to raise nearly $250 million (approximately ₹2,258 crore) through its IPO.

Key IPO Details

Particulars	Details
IPO Size	₹2,258 crore
Structure	Fresh Issue + OFS
Promoter Selling	No

According to reports, promoters will not dilute their stake through the Offer For Sale (OFS) component.

The company filed its IPO papers using Sebi’s confidential pre-filing route in February 2026.

Why Companies Are Choosing the Confidential Filing Route

Both Zepto and Dhoot Transmission opted for the confidential IPO filing mechanism introduced by Sebi.

Benefits of Confidential Filing

Benefit	Purpose
Limited Public Disclosure	Protects sensitive business information
Regulatory Feedback	Allows private interaction with Sebi
Market Flexibility	Helps firms assess market timing
Reduced Public Pressure	Avoids early scrutiny

This route is increasingly becoming popular among large startups and private firms preparing for major listings.

Horizon Industrial Parks Plans ₹2,600 Crore IPO

Blackstone-backed Horizon Industrial Parks is preparing a ₹2,600 crore IPO.

Important Details

Particulars	Details
IPO Type	Fully Fresh Issue
OFS Component	None
Fund Usage	Debt Repayment

The company plans to use nearly ₹2,250 crore from IPO proceeds to repay borrowings.

Horizon Industrial Parks operates industrial and warehousing infrastructure assets across India.

Surgiwear IPO Details

Medical products company Surgiwear is also entering the public markets.

IPO Structure

Component	Amount
Fresh Issue	₹370 crore
OFS	₹370 crore

Planned Fund Utilization

• Purchase of machinery
• Debt repayment
• General corporate purposes

The Uttar Pradesh-based company manufactures surgical and healthcare products.

Crystal Crop Protection IPO Breakdown

Agrochemical company Crystal Crop Protection plans to raise funds through a mix of fresh issue and OFS.

Crystal Crop IPO Details

Particulars	Details
Fresh Issue	₹600 crore
OFS Shares	74 lakh+ shares

Investors including:

• IFC
• IFC Emerging Asia Fund

are expected to partially offload their holdings through the OFS.

Use of IPO Proceeds

The company plans to use funds for:

• Debt reduction
• Strategic acquisitions
• Expansion initiatives
• General corporate purposes

Hotel Polo Towers IPO Details

Hotel Polo Towers is also preparing for a stock market debut.

IPO Structure

Component	Details
Fresh Issue	₹300 crore
OFS	71.2 lakh shares

The company owns and operates hotels and resorts under:

• Polo brand
• Max brand

Its hospitality network spans northeast, east, and north India.

India’s IPO Market Remains Strong in 2026

The latest approvals highlight the continued strength of India’s primary market ecosystem.

Key IPO Market Drivers

• Strong retail investor participation
• Rising domestic liquidity
• Growing startup ecosystem
• Institutional demand
• Expanding capital markets

India has remained among the world’s most active IPO markets over the past few years.

Most-Watched Upcoming IPOs

Among the six approved IPOs, investor attention is expected to remain focused on:

Company	Market Theme
Zepto	Quick Commerce & Startup Growth
Dhoot Transmission	Auto Components
Horizon Industrial Parks	Warehousing & Logistics
Crystal Crop Protection	Agriculture & Chemicals

Zepto’s IPO is likely to become one of the most closely watched public issues of 2026.

Final Take

Sebi’s approval for six IPOs including Zepto and Dhoot Transmission reflects continued confidence in India’s capital markets despite global volatility.

With companies from diverse sectors preparing to raise funds, investors are expected to see an active IPO pipeline in the coming months across technology, logistics, manufacturing, healthcare, and hospitality sectors.

The market will now closely monitor issue sizes, valuations, subscription trends, and listing performances as these firms move toward their public market debut.

Which companies received Sebi approval for IPOs?

Zepto, Dhoot Transmission, Horizon Industrial Parks, Surgiwear, Crystal Crop Protection, and Hotel Polo Towers received Sebi approval.

How much is Zepto planning to raise through its IPO?

Zepto is reportedly targeting around ₹11,000 crore through its IPO.

What is the size of Dhoot Transmission’s IPO?

Dhoot Transmission plans to raise approximately ₹2,258 crore.

What is the confidential IPO filing route?

It is a mechanism that allows companies to confidentially submit IPO papers to Sebi before publicly disclosing details.

Which exchanges will these IPOs list on?

The companies are expected to list on both the BSE and NSE.