India’s IPO market is once again showing strong momentum as SEBI has issued observation letters to multiple companies during the week ending 06 February 2026. This is an important development because once SEBI issues its observation letter, the company becomes eligible to move forward with the IPO process and file its RHP (Red Herring Prospectus).
As per the latest update, 8 companies received SEBI observations (approval stage) while 1 company’s IPO draft was withdrawn/returned. This indicates that SEBI is actively clearing IPO draft papers and the primary market pipeline is becoming stronger for upcoming listings in 2026.
Below is the detailed SEBI DRHP Approved List format-wise summary of all companies that received SEBI observations, along with the one IPO that was withdrawn.
SEBI DRHP Approved List (SEBI Observations Issued – 8 IPOs)
1) Aarvee Engineering Consultants Limited IPO
SEBI DRHP Filing Date: 26-09-2025
SEBI Approval Date: 04-02-2026
Type of Issue: Fresh & OFS
Fresh Issue: 202.5 Crore
Offer for Sale (OFS): Up to 6,750,000 Equity Shares of face value of ₹10
2) Armee Infotech Limited IPO
SEBI DRHP Filing Date: 29-09-2025
SEBI Approval Date: 06-02-2026
Type of Issue: Fresh Issue
Fresh Issue: 300 Crore
Total IPO Size: 300 Crore
3) Laser Power and Infra Limited IPO
SEBI DRHP Filing Date: 30-09-2025
SEBI Approval Date: 02-02-2026
Type of Issue: Fresh & OFS
Fresh Issue: 800 Crore
Offer for Sale (OFS): 400 Crore
Total IPO Size:1200 Crore
4) Elevate Campuses Limited IPO
SEBI DRHP Filing Date: 30-09-2025
SEBI Approval Date: 05-02-2026
Type of Issue: Fresh Issue
Fresh Issue: 2550 Crore
Total IPO Size: 2550 Crore
5) Shankesh Jewellers Limited IPO
SEBI DRHP Filing Date: 08-10-2025
SEBI Approval Date: 06-02-2026
Type of Issue: Fresh & OFS
Fresh Issue: Up to 30,000,000 Equity Shares of face value of ₹ 5
Offer for Sale (OFS): Up to 10,000,000 Equity Shares of face value of ₹5
6) Ardee Industries Limited IPO
SEBI DRHP Filing Date: 10-10-2025
SEBI Approval Date: 03-02-2026
Type of Issue: Fresh & OFS
Fresh Issue: 320 Crore
Offer for Sale (OFS): Up to 37,650,000 Equity Shares of face value of ₹ 2
7) Incred Holdings Limited IPO
SEBI DRHP Filing Date: 13-11-2025
SEBI Approval Date: 05-02-2026
InCred Holdings has also filed a confidential DRHP for its IPO, targeting a fundraise of around ₹2,800 crore to ₹3,750 crore (approx. $338M–$450M) According to report.
8) SEDEMAC Mechatronics Limited IPO
SEBI DRHP Filing Date: 18-11-2025
SEBI Approval Date: 06-02-2026
Type of Issue: OFS Only
Offer for Sale (OFS): up to 8,043,300 Equity Shares of face value of ₹10
IPO Withdrawn / Returned (1 Issue)
9) Mann Fleet Partners Limited IPO
SEBI DRHP Filing Date: 29-09-2025
Withdrawn / Returned Date: 03-02-2026
Type of Issue: Fresh & OFS
Amount Not Mentioned in DRHP
Status: IPO Draft Withdrawn / Returned
SEBI Observation Mean for These IPOs?
Receiving SEBI’s observation letter is a major step in the IPO process. It generally means SEBI has completed its review and the company can now proceed with filing the final prospectus (RHP). After this, IPO timelines become clearer, and companies usually start preparing for roadshows, anchor book launches, and final price band announcements.
Investors should note that being part of the SEBI DRHP Approved List does not guarantee an immediate IPO launch, as the company may still wait for the right market conditions. However, approvals indicate the company is fully prepared and can launch its issue anytime in the coming weeks or months.
The latest update clearly shows that SEBI is actively clearing IPO draft papers. With 8 IPOs receiving observations and 1 issue being withdrawn, the overall IPO pipeline remains strong. Investors should keep an eye on these names as they may soon enter the market with fresh fund-raising plans and OFS components.
This SEBI DRHP Approved List is an important watchlist for anyone tracking upcoming IPO opportunities in 2026.
FAQ:-
Q1. What is the SEBI DRHP Approved List?
Ans: The SEBI DRHP Approved List includes companies whose IPO draft papers have received SEBI observation/approval, allowing them to move closer to launching their IPO.
Q2. What does SEBI observation letter mean for an IPO?
Ans: SEBI observation letter means SEBI has completed its review and the company can now proceed to file the RHP and plan IPO launch.
Q3. Which companies are included in the SEBI DRHP Approved List this week?
Ans: The list includes Aarvee Engineering Consultants, Armee Infotech, Laser Power and Infra, Elevate Campuses, Shankesh Jewellers, Ardee Industries, InCred Holdings, and SEDEMAC Mechatronics.
Q4. What is the next step after getting SEBI approval/observation?
Ans: After SEBI approval, the company files the RHP, announces the price band, IPO dates, and starts marketing through roadshows.
Q5. What does it mean when an IPO draft is withdrawn?
Ans: It means the company has paused or delayed its IPO plan, usually due to market conditions, internal decisions, or regulatory reasons.
Q6. When can investors expect these SEBI-approved IPOs to launch?
Ans: These IPOs may launch in the coming weeks or months, depending on market conditions and company readiness.
Also Read – SEBI Approved IPO List | Mainboard IPOs in India | Approval Status List
Also Read –DRHP Filed IPO List | DRHP Filed With SEBI Company List | Mainboard IPO
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