Nine Companies Receive SEBI Approval
Nine companies, including PlaySimple Games, Garuda Aerospace, Rediff.com India, Jakson Green and Adroit Industries, have received approval from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings.
The other companies that received the regulator’s observations are Expression 360 Services India, SNVA Traveltech, Naini Papers and Laxyo.
The companies had filed their draft IPO papers between December 2025 and April 2026 and received SEBI’s observations between August 3 and August 7. In SEBI terminology, receiving observations is equivalent to obtaining approval to proceed with a public issue.
PlaySimple Games Plans ₹3,150 Crore IPO
PlaySimple Games, described as India’s largest pure-play casual mobile games company by revenue, plans to raise ₹3,150 crore through an entirely offer-for-sale (OFS).
The shares will be sold by promoter MTGx Gaming Holding AB, which owns more than 97% of the company.
PlaySimple Games reported revenue of ₹2,259.82 crore in FY25, compared with ₹1,876.86 crore in the previous financial year.
Garuda Aerospace Targets ₹1,000 Crore
Drone startup Garuda Aerospace is looking to raise around ₹1,000 crore through its maiden public offering.
The IPO is expected to comprise a ₹750 crore fresh issue and an OFS of ₹250 crore.
The Chennai-based company manufactures and customises unmanned aerial vehicles for agriculture, defence and enterprise surveillance applications.
Rediff.com India And Jakson Green Among Approved Firms
Rediff.com India is a subsidiary of AvenuesAI, formerly known as Infibeam Avenues. The group operates digital payment platform CCAvenue and enterprise software platform BuildaBazaar.
Jakson Green, another company receiving SEBI’s approval, had used the regulator’s confidential pre-filing route, which allows companies to obtain regulatory feedback on draft offer documents before making them public.
Garuda Aerospace and SNVA Traveltech had also filed their IPO papers through this confidential route.
Adroit Industries To Raise Fresh Capital
Adroit Industries’ proposed IPO comprises a fresh issue of 98.97 lakh equity shares and an OFS of 13.5 lakh shares.
The company plans to use proceeds from the fresh issue for capital expenditure, including machinery and equipment, transportation infrastructure, investment in its subsidiary Adroit Driveshafts and repayment of debt.
Adroit Industries specialises in automotive and industrial components.
Other Companies Also Prepare For IPOs
Expression 360 Services India’s IPO will be entirely an OFS of up to 1.50 crore equity shares by its promoter.
Laxyo, a railway infrastructure and EPC services provider based in Indore, has proposed an entirely fresh issue worth ₹150 crore, without an OFS component.
SNVA Traveltech operates the Travomint online travel platform, while Naini Papers is an integrated paper manufacturer producing writing and printing paper, industrial paper and packaging paper.
The shares of all nine companies are proposed to be listed on both the BSE and NSE.
Summary
Nine companies have received SEBI approval to proceed with IPOs after filing their draft papers between December 2025 and April 2026. PlaySimple Games plans to raise ₹3,150 crore through an OFS, while Garuda Aerospace is targeting around ₹1,000 crore. Adroit Industries, Laxyo, SNVA Traveltech, Naini Papers, Rediff.com India, Jakson Green and Expression 360 Services India are also preparing public offerings.