The Securities and Exchange Board of India (SEBI) has granted observation letters to eight companies to launch IPO. These latest IPO approvals indicate a robust pipeline for the first half of 2026, spanning sectors from fintech and semiconductor to infrastructure consultancy and specialized manufacturing.
While eight players moved closer to the trading floor, draft papers of Mann Fleet Partners was returned/withdrawn on 3 February 2026. Here is a detailed look at the eight companies that received SEBI IPO approval this week:
Incred Holdings IPO Approval: Most Awaited in Latest IPO Approvals
Highlighting the week’s approvals is the fintech giant Incred Holdings, which received the go-ahead on 5 February 2026. The company had filed its DRHP via the confidential route on 13 November 2025. While the exact details remain private under the confidential filing norms, industry sources suggest the IPO size could range between INR 4,000 crore and INR 5,500 crore, comprising both a Fresh Issue and an OFS.
As the parent company of InCred Financial Services, the group operates across lending, wealth management, and asset advisory. Led by former Deutsche Bank executive Bhupinder Singh, InCred has emerged as a major technology-driven NBFC focusing on personal, SME, and education loans.
SEDEMAC Mechatronics IPO Approval
Pune-based SEDEMAC Mechatronics received its observation letter on 6 February 2026, following its DRHP filing on 18 November 2025. The IPO is an “OFS Only” issue, with existing shareholders offering up to 80,43,300 shares. Market valuation suggests the issue size will be between INR 800 crore and INR 1,000 crore.
SEDEMAC is a technology-first company specializing in advanced control systems for engines and powertrains. Their Integrated Starter-Generator (ISG) and Electronic Fuel Injection (EFI) ECUs are critical components for meeting stringent emission norms in two-wheelers and three-wheelers. The company also manufactures Motor Control Units (MCUs) for the booming EV market.
Aarvee Engineering IPO Approval
Aarvee Engineering Consultants, a veteran in the infrastructure consultancy space. The company received SEBI’s approval on 4 February 2026. The company filed its Draft Red Herring Prospectus (DRHP) on 26 September 2025. Aarvee Engineering IPO is structured as a combination of a fresh issue (INR 202.50 crore) and an offer for sale (67,50,000 shares) by the promoter, Venkatachala Chakrapani Redla.
Based in Hyderabad, Aarvee has built a multi-disciplinary reputation in providing engineering, design, and project management services for highways, railways, and water resource projects. The proceeds from the fresh issue are earmarked for expanding international operations in Australia and the United Kingdom, as well as for general corporate purposes.
Armee Infotech IPO Approval
Armee Infotech is an Ahmedabad-based IT infrastructure and managed services provider. The company received its observation letter on 6 February 2026, after filing its DRHP on 29 September 2025. Unlike many of its peers, this IPO is a “Fresh Only” issue, with the company seeking to raise INR 300 crore.
Armee Infotech has evolved from a local IT reseller to a full-service system integrator, focusing heavily on B2B and B2G (Business-to-Government) segments. Its core business involves setting up ICT labs, smart classes, and digital infrastructure for public distribution systems.
Laser Power IPO Approval
Power sector heavyweight Laser Power and Infra cleared the regulatory hurdle on 2 February 2026. The company had submitted its draft papers on 30 September 2025 for an issue size totalling INR 1,200 crore. The IPO is a mix of a Fresh Issue worth INR 800 crore and an Offer for Sale (OFS) of INR 400 crore.
Operating under the brand “LASER,” the company is a leading manufacturer of cables and conductors and a pan-India EPC (Engineering, Procurement, and Construction) solutions provider. It is recognized as one of the largest cable exporters in Eastern India, catering to marquee clients like PGCIL and NTPC. The capital infusion of INR 800 crore will be utilized to augment its manufacturing capacity and strengthen its supply chain through backward integration.
Elevate Campuses IPO Approval
In one of the most anticipated listings in the specialized real estate and education services space, Elevate Campuses (formerly Good Host Spaces) received SEBI approval on 5 February 2026. The company filed its DRHP on 30 September 2025. The issue is a pure fresh issue of INR 2,550 crore.
Elevate Campuses is India’s largest institutionalized platform for on-campus student accommodation and K-12 education assets. It manages over 66,000 beds across premier Higher Education Institutions (HEIs) and owns school assets in major educational hubs like Bengaluru, Pune, and Chennai.
Shankesh Jewellers IPO Approval
The organised jewellery retail sector continues to witness fresh entrants, with Shankesh Jewellers receiving the regulator’s nod on 6 February 2026. Having filed its DRHP on 8 October 2025, the company is planning an IPO consisting of a fresh issue of 3 crore equity shares and an Offer for Sale of 1 crore shares.
Shankesh Jewellers operates primarily on an asset-light model, managing the design and sourcing of handcrafted gold jewellery for various corporate brands and retail clients. With a presence across 21 states and 3 Union Territories, the company has demonstrated an impressive Return on Equity (ROE) of over 40%.
Ardee Industries IPO Approval
Ardee Industries is a prominent player in the lead recycling and energy storage sector. Ardee secured its IPO approval on 3 February 2026. The company filed its draft papers on 10 October 2025. The offering consists of a fresh issue worth INR 320 crore and an Offer for Sale of 3.77 crore equity shares by promoters.
Based in Andhra Pradesh, Ardee operates a massive recycling facility with a capacity of over 1,00,000 MTPA, producing pure lead and alloys for the automotive, chemical, and e-mobility sectors. The company is a crucial part of the “Circular Economy,” helping battery manufacturers like Amara Raja manage waste sustainably.
