SEBI Approves 4 IPOs – Alpine Texworld, Anjali Labtech & More Ready to Launch

In early 2026, the Indian primary market saw a fresh wave of activity as four promising companies – Alpine Texworld Limited, Anjali Labtech Limited, APPL Containers Limited and Integris Medtech Limited – moved a step closer to going public by filing their IPO documents and receiving observations from the Securities and Exchange Board of India (SEBI). Being listed on a stock exchange allows companies to raise capital from the public for expansion, debt repayment, acquisitions, and other corporate objectives.

In the week of February 2026, all four companies had their Draft Red Herring Prospectuses (DRHP) or draft offer documents filed with SEBI, which means that the regulator has issued preliminary observations on their prospectuses and they can proceed towards final prospectus filing (RHP) and subsequently launch their IPO (subject to conditions).

Below is a detailed look at each company, their business, promoters, proposed issue details, promoter selling shareholders (if applicable), and quota for retail investors.

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What Does SEBI Approval Mean?

Before diving into the companies, it’s important to understand what it means when a company gets SEBI approval or observations on its IPO:

• SEBI (Securities and Exchange Board of India) is the regulatory body that governs securities markets in India.

• Every company that wants to launch an IPO must first file a Draft Red Herring Prospectus (DRHP) with SEBI.

• SEBI reviews the DRHP to ensure the information is complete, transparent, and complies with regulatory norms.

• An observation/approval from SEBI on the DRHP means the regulator has reviewed the document and given feedback or clearance to proceed further.

• After clearing SEBI observations, a company can file the Red Herring Prospectus (RHP) with the Registrar of Companies and launch the IPO on stock exchanges.

• This process ensures investor protection and transparency in the IPO process.

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1. Integris Medtech Limited

Business Overview

Integris Medtech Limited is a diversified medical technology platform engaged in developing, manufacturing, commercialising and selling a broad portfolio of medical devices and laboratory solutions. The company operates globally with manufacturing facilities in India, Germany, and the Netherlands, serving medical institutions with products in cardiovascular devices, clinical diagnostics, and scientific laboratory solutions. As of mid‑2025, the company’s products were marketed in more than 65 countries.

Promoters

• Evercure Holdings Pte. Ltd.

• Medicore Holdings Pte. Ltd.

• Gurmit Singh Chugh

• Punita Sharma

Type of Issue

The IPO for Integris Medtech is a combination of Fresh Issue + Offer for Sale (OFS).

Issue Size

• Fresh Issue: Up to ₹925 crore through the issuance of new equity shares of face value ₹1 each.

• Offer for Sale (Promoter Shareholders): Up to 21,674,531 equity shares aggregating up to an unspecified amount.

• Total Offer Size: Approximately ₹3,500‑4,000 crore (estimated based on media reports).

Selling Shareholders

Promoter selling shareholders will participate in the OFS component, providing partial exit opportunities.

Allocation & Quotas

Specific quota percentages are pending final prospectus, but typically:

• QIB (Qualified Institutional Buyers): Not less than 75%

• NIB (Non‑Institutional Bidders): Up to 15%

• Retail Individual Bidders (RIBs): Up to 10%

Key Objectives

Proceeds from the fresh issue will primarily be used for repayment/prepayment of debt and general corporate purposes.

Integris Medtech Limited DRHP LINK 

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2. APPL Containers Limited

Business Overview

APPL Containers Limited is a container solutions provider engaged in manufacturing packaging products – primarily drums and intermediate bulk containers used across pharmaceuticals, chemicals, agrochemicals and other industries. The company caters to domestic and international markets.

Promoters

• Hasmukhbhai Meghjibhai Viradiya

• Vallabhbhai Meghjibhai Viradiya

• Vaibhav Vallabhbhai Viradiya

• Manishaben Viradiya

• Saritaben Viradiya

• Ektaben Vaibhavbhai Viradiya

• Tejasbhai Vallabhbhai Viradiya

• Tirthraj Hasmukhbhai Viradiya

Type of Issue

Fresh Issue + Offer for Sale.

Issue Size

• Fresh Issue: Up to 12,50,000 equity shares of ₹10 each

• Offer for Sale: Up to 25,60,000 equity shares of ₹10 each

• Total Offer Size: Up to 38,10,000 equity shares

(Exact amount in ₹ is subject to final pricing in the RHP).

Selling Shareholders 

Multiple promoter shareholders are offering shares in the OFS

• Hasmukhbhai Meghjibhai Viradiya: Up to 5,30,000 shares

• Vallabhbhai Meghjibhai Viradiya: Up to 2,60,000 shares

• Others with similar offer quantities in the OFS portion

Allocation & Quotas

• QIBs: Not more than 50%

• Non‑Institutional Bidders: Not less than 15%

• Retail Individual Bidders: Not less than 35%

APPL Containers Limited DRHP Link

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3. Alpine Texworld Limited

Business Overview

Alpine Texworld Limited is a textile manufacturer focused on weaving and fabric production. The company’s business typically includes production of grey fabrics and value‑added textile products for different industries.

Promoters

• Sumit Champalal Agarwal

• Sandeep Santkumar Agrawal

• Sachinkumar Santkumar Agrawal

Type of Issue

Fresh Issue

Issue Size

• Fresh Issue: Up to 1,50,00,000 equity shares of ₹10 each

Details such as price band and final amount will be decided later and included in the Red Herring Prospectus.

Allocation & Quotas

• QIBs: Not more than 50%

• Non‑Institutional Bidders: Not less than 15%

• Retail Individual Bidders: Not less than 35%

Alpine Texworld Limited DRHP Link

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4. Anjali Labtech Limited

Business Overview

Incorporated in 2021 and headquartered in Surat, Gujarat, Anjali LabTech has swiftly emerged as a global leader in lab-grown diamonds, lab-grown diamond jewellery, diamond semiconductor materials and MPCVD systems. With a mission to revolutionize the diamond industry through innovation and ethical practices, we provide our clients with sustainable, conflict-free diamonds and exquisite jewellery that meet the highest standards of quality and craftsmanship.

Pre‑filing

Anjali Labtech Limited is entering the public issue space via a Pre‑filing IPO process (Confidential Route), which means the company has filed confidential documents with SEBI ahead of a public DRHP filing. This is an increasingly common route for smaller enterprises preparing for a future IPO.

The company likely operates in the diagnostics, healthcare or laboratory services sector

Type of Issue

Pre‑filing IPO. SEBI observed DRHP status in October 2025

Issue Size & Other Details

IPO estimated to be around ₹1,200 crore

Further details such as issue size, price band, and quota splits will be revealed when the company files its UDRHP

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Summary of SEBI Observations (Feb 2026)

In the week ending February 20, 2026, SEBI issued observations on the DRHP/draft offers of all four companies:

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Conclusion

The IPO pipeline in India remains strong in 2025‑26 as companies across diverse sectors – from medical technology to manufacturing – seek public capital. Integris Medtech, APPL Containers, Alpine Texworld and Anjali Labtech are now positioned to take the next step towards public listing following SEBI observations on their IPO filings.

As these companies progress, investors should review their Red Herring Prospectus once filed to understand investment prospects, risks, financials, and subscription timelines.

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Frequently Asked Questions (FAQs)

1. What does SEBI observation or approval mean?

SEBI observation is a regulatory feedback/clearance on a company’s IPO draft filing (DRHP). It means SEBI has reviewed the document for completeness and compliance. After clearing observations, the company can file the RHP and later launch its IPO.

2. Is IPO approval same as listing approval?

No. SEBI observations allow the company to launch the IPO. Listing on stock exchanges (BSE/NSE) happens after the IPO is completed and the shares are allotted.

3. What is a Draft Red Herring Prospectus (DRHP)?

DRHP is the first public filing that contains essential details of the company’s business, finances, risk factors, objectives of the IPO, and share allocation plans. SEBI reviews this draft before granting observations.

4. What is Fresh Issue vs Offer for Sale (OFS)?

• Fresh Issue: New shares are created and sold, raising capital for the company.

• OFS: Existing shareholders sell their shares to the public; the company does not receive funds directly from OFS.

5. What portion is reserved for retail investors?

Retail Individual Bidders usually get a fixed percentage (e.g., 10‑35%) as per SEBI ICDR norms. Exact quotas vary by issue and will be specified in the Red Herring Prospectus.

Also Read – InsuranceDekho IPO: Girnar Insurance Brokers Plans $250 Million Public Issue in India

Also Read- Lotte Wellfood Eyes IPO for Havmor Ice Cream India Unit After Merger

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