SEBI Clears IPOs for Lenskart, Wakefit, and Four Other Companies

The Securities and Exchange Board of India (SEBI) has given the green light to six companies to move ahead with their initial public offerings (IPOs), signalling a boost for the Indian capital markets. Lenskart Solutions, Wakefit Innovations, Waterways Leisure Tourism, Tenneco Clean Air India, Shree Ram Twistex, and Lamtuf have all received observation letters, allowing them to launch their IPOs within the next year.

The regulator had earlier issued observation letters to Waterways Leisure Tourism, Shree Ram Twistex, and Lamtuf on September 26. Lenskart Solutions, Wakefit Innovations, and Tenneco Clean Air India received theirs on October 3, according to SEBI’s draft offer document processing update released on October 6.

Lenskart Solutions

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The Gurugram-based omnichannel eyewear retailer, backed by SoftBank and Kedaara Capital, filed its draft papers with SEBI in July. Lenskart IPO plans to raise ₹2,150 crore via a fresh issue while promoters and investors, including SoftBank-owned SVF II Lightbulb (Cayman), Schroders Capital, Azim Premji-backed PI Opportunities Fund, Macritchie Investments, Kedaara Capital, and Alpha Wave Ventures, will sell 13.22 crore shares through an offer-for-sale (OFS). Additionally, the company may raise up to ₹430 crore in a pre-IPO round as part of the fresh issue.

Wakefit Innovations

Bengaluru-based direct-to-consumer (D2C) startup Wakefit Innovations, which specialises in sleep and home solutions and is backed by Peak XV Partners, filed its draft red herring prospectus (DRHP) in June. It plans to raise ₹468.2 crore through a fresh issue, while promoters Ankit Garg and Chaitanya Ramalingegowda, alongside investors such as Peak XV Partners, Redwood Trust, Verlinvest SA, Investcorp, SAI Global Fund, and Paramark, will offload up to 5.8 crore shares via OFS. Wakefit may also secure an additional ₹93.64 crore before the IPO launch.

Waterways Leisure Tourism

The Mumbai-based operator of Cordelia Cruises aims to raise ₹727 crore entirely through a fresh issue. The company filed its IPO papers with SEBI in June and does not plan any OFS component.

Tenneco Clean Air India

Automotive component maker Tenneco Clean Air India, a subsidiary of U.S.-based Tenneco Group, intends to raise ₹3,000 crore through an IPO consisting solely of OFS shares from promoter Tenneco Mauritius Holdings. There will be no fresh issue of shares.

Shree Ram Twistex

Gujarat-based cotton yarn manufacturer Shree Ram Twistex is set to issue up to 1.06 crore fresh shares through its IPO, following the filing of draft papers in June.

Lamtuf

Hyderabad-based laminates manufacturer Lamtuf filed its DRHP in July. The IPO will include both fresh and OFS components, with 1 crore fresh shares being issued and promoters selling up to 20 lakh shares via OFS.

Meanwhile, SEBI has deferred its observation on Kanodia Cement’s IPO, which would have been entirely an OFS of 1.49 crore shares.

The approval of these IPOs reflects growing investor interest and confidence in India’s diversified sectors, from consumer goods and home solutions to automotive components and textiles. Market participants are now closely monitoring these offerings for subscription trends and potential listing gains.

Conclusion

SEBI’s clearance of six diverse IPOs signals a positive momentum for India’s equity markets. With companies spanning eyewear, home solutions, cruises, automotive components, and textiles, investors have a range of options to consider in the coming months