The Securities and Exchange Board of India (SEBI) has approved initial public offering plans for nine companies - Jakson Green, Rediff.com India, SNVA Traveltech, Playsimple Games, Expression 360 Services India, Adroit Industries India, Garuda Aerospace, Naini Papers, and Laxyo. According to latest reports from The Economic Times, the companies can now proceed with filing their red herring prospectuses (RHPs) with the Registrar of Companies and launch their IPOs within one year. SEBI issued its observations on the draft documents on August 3 for Laxyo, August 4 for Rediff.com India, August 5 for Garuda Aerospace, August 6 for Jakson Green, SNVA Traveltech, and Playsimple Games, and August 7 for Expression 360 Services India, Adroit Industries India, and Naini Papers.
Jakson Green, a green energy transition platform, is reportedly planning to raise around ₹2,000 crore through its IPO. The company filed its draft papers through the confidential route in December 2025, positioning itself as a significant player in India's renewable energy sector. The fundraising will comprise a fresh issue of shares worth ₹1,500 crore and an offer-for-sale (OFS) worth ₹500 crore. The company's IPO represents a strategic move into the growing green energy market, with the proceeds likely to be utilized for expanding operations and strengthening its market position in the renewable energy transition space. According to The Economic Times, Jakson Green operates across renewable energy EPC services, solar asset operations and maintenance, independent power producer projects, green hydrogen and ammonia, electrolyser manufacturing and battery energy storage systems.
Rediff.com India, a subsidiary of fintech firm AvenuesAI, is looking to raise ₹600-800 crore as it seeks to reposition itself from a legacy internet portal into an AI-led digital platform. The company filed confidential draft papers in March 2026 as part of its strategic transformation. The IPO will enable Rediff.com India to tap capital markets to fund its transition from traditional internet services to artificial intelligence-driven digital solutions, supporting its evolution into a modern technology platform in the competitive digital media landscape. According to The Economic Times, Rediff.com India is a subsidiary of AvenuesAI, formerly Infibeam Avenues, which acquired a controlling stake in the company in 2024.
SNVA Traveltech, the Travomint platform operator, filed confidential draft papers in March 2026 as it prepares to enter the public markets. The company operates in the travel technology sector, providing booking and reservation services through its platform. Playsimple Games, a Bengaluru-based mobile gaming company and part of Sweden-based Modern Times Group MTG AB, submitted its draft papers in April 2026 as it seeks to capitalize on the growing gaming industry in India. According to The Economic Times, PlaySimple Games is the largest pure-play casual mobile games company by revenue as of FY25, ranking first globally and in 78 countries in mobile word games by downloads in calendar year 2025. The company accounted for about 14% of the nearly 731 million global word game downloads in 2025, based on Sensor Tower data cited by Redseer.
Garuda Aerospace, a Chennai-based drone technology company, is reportedly planning to raise around ₹1,000 crore through its IPO. The fundraising will comprise a fresh issue of shares worth ₹750 crore and an offer-for-sale (OFS) worth ₹250 crore. The company provides Drone-as-a-Service (DaaS) solutions across precision agriculture, industrial and enterprise operations, and consumer applications, enabling data-driven decision-making and enhancing operational efficiency. According to The Economic Times, SBI Capital Markets, Axis Capital, ICICI Securities, and IIFL Capital Services are likely to act as the merchant bankers for the Garuda Aerospace IPO. The company is yet to announce the price band and launch dates.
Laxyo, an Indore-based engineering and infrastructure services company, has received SEBI approval for its IPO with an issue comprising a fresh issue of equity shares worth up to ₹150 crore. The company provides engineering and construction services across railway infrastructure, mining services, raise boring operations, dredging and reclamation, and operations and maintenance. Laxyo also rents out equipment such as dredging machines, raise boring machines and other owned equipment when these are not deployed in its own contracts. Naini Papers received final observation from SEBI on August 7, 2026, for its proposed IPO after filing draft papers confidentially in April 2026. The integrated paper manufacturer produces writing, printing, industrial and specialty paper products at its manufacturing plant in Kashipur, Uttarakhand, and is expected to be listed on both NSE and BSE.
