SEBI Approves Eight IPOs: Signalling Strong Momentum into 2026

The number of IPO registrations in India continues to grow with approvals granted by SEBI to eight companies from December 26th 2025, to January 2, 2026. The companies listed (Indira IVF, RKCPL, Chartered Speed, Shriram Food Industry, Tempsens Instruments (India), Jerai Fitness, Glass Wall Systems (India), and Rays of Belief submitted their DRHP's (Draft Red Herring Prospectuses) between July to October 2021, demonstrating the continuing healthy demand for funding from both healthcare, infrastructure, fitness, and manufacturers, as seen in the robust primary market.

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Jerai Fitness: Pure Offer for Sale Structure

Jerai Fitness, which sells and manufactures fitness equipment, included in the Offer for Sale Structure a total of 43.92 lakh shares being sold by their Promoters (Rajesh Ramsukh Rai/Rinku Rajesh Rai). There will not be a new issuance of shares, and proceeds will go directly to the selling shareholders. Jerai Fitness provides gymnasiums, hotels, real estate projects and corporates within India, and has a significant export business, taking advantage of emerging global wellness trends.

Indira IVF and Rays of Belief: Confidential Filings in Healthcare

Indira IVF, a specialist in Fertility Services, filed a confidential pre-filing on their proposed Main Board IPO to maintain the confidentiality of the details until later stage(s), and Rays of Belief, who operates under the name Mom's Belief and specialises in Autism/Developmental Care, chose to go through this route to highlight the demand for specialised services as indicated by the IPO registrations in the Health Care sector.

RKCPL: Infrastructure Play with ₹1,250 Crore Ambition

The construction and infrastructure services company RKCPL offers a fresh issue to raise ₹1,250 crore (700 crore fresh issue) through its IPO and invites eligible stockholders a chance to sell up to ₹550 crore (OFS) to qualify for listing when it eventually completes the listing procedures next year. Proceeds from the IPO will fund working capital, purchase of machinery and equipment, repay debt, and address corporate requirements.

Chartered Speed: Mobility Shift with ₹855 Crore Raise

Ride-sharing company Chartered Speed intends to raise ₹855 crore through a non-public offering of ₹655 crore in shares and a ₹200 crore OFS to enable its founding promoter, Alka Pankaj Gandhi and Pankaj Gandhi. Proceeds will be used to buy electric buses, pay down existing debt, and for working capital requirements.

Glass Wall Systems and Tempsens: Manufacturing Focus

Glass Wall Systems (India) manufactures façade systems, while Tempsens Instruments, one of India's leading manufacturers of thermal solutions, is planning to issue ₹118 crore of common stock and ₹1.79 crore offer for sale to fund capital projects in heating and cabling solutions, as well as the repayment of long-term debt.

Shriram Food Industry: Export-Oriented Agri-IPO

Founded in 2014, Shriram Food Industry is an export Indonesian rice producer with an IPO of 2.12 crore shares and ₹52 lakh OFS from its promoters, Greta Industries Pte Ltd, and Orient Dealtrade Pvt Ltd. Proceeds will be used to repay debt, support revenue and operating expenses.

Research Insights: 2026 IPO Trends and Market Impact

Major new issue approvals after approximately ₹1.5 lakh crore raised in 2025 point to an active primary market area, spurred by local liquidity and interest from retail investors. However, with concern in secondary markets, continuing to scrutinise valuations will limit growth through public market participation. The large number of new issue listings is expected to assist the growth of mid-cap indices by providing small-to-medium enterprises access to capital during a time of economic development.