New Delhi, June 5 -- The Securities and Exchange Board of India (SEBI) has cleared the listing plans of five companies including those of SoftBank-backed hospitality company Oyo, KKR-backed Advanta Enterprises Ltd and Warburg Pincus portfolio company Truhome Finance Ltd.
Together, the three companies are expected to raise in excess of Rs 15,000 crore from these offerings, signalling that the country's IPO pipeline remains strong despite a drop in the markets in recent months.
Oyo
Prism Hotels & Resorts, the SoftBank-backed parent company of Oyo, received SEBI's nod for a Rs 6,650 crore IPO consisting entirely of fresh shares. The company had filed its confidential draft red herring prospectus in late December 2025.
The proposed IPO is expected to value the company at between $7-8 billion (Rs 66,000-76,000 crore), according to media reports. Prism Hotels & Resorts will next file an updated DRHP, likely by early July.
This marks Oyo's third attempt at a public listing since 2021, when it had targeted a valuation of around $12 billion. The company has appointed multiple banks as book-running lead managers, including Axis Capital, Citibank, Goldman Sachs, ICICI Securities and SBI Capital Markets.
Advanta Enterprises
Advanta, the global seeds business of UPL Ltd in which KKR invested $300 million in 2022, also won SEBI approval for an IPO. The IPO will be an offer for sale of up to 3.61 crore shares, with no fresh issue.
Selling shareholders include promoter UPL Ltd, which holds over 64% stake. KKR, which holds an 11.07% stake, is looking to sell a quarter of its holdings. The IPO is expected to raise around $500 million and all proceeds will go to the sellers.
Advanta operates in 74 countries with a portfolio of more than 900 hybrid seed varieties across 21 crops. It filed its draft papers in January 2026.
Its book-running lead managers include JM Financial, Axis Capital, Citigroup, Goldman Sachs India and Morgan Stanley India.
Truhome Finance
Truhome, the affordable housing lender formerly known as Shriram Housing Finance and acquired by Warburg Pincus in December 2024 for Rs 4,630 crore, received approval for a Rs 3,000 crore IPO. The issue is split equally between a Rs 1,500 crore fresh issue and a Rs 1,500-crore offer for sale by Warburg Pincus.
Proceeds from the fresh portion will strengthen the company's capital base for future lending. Truhome, India's third-largest affordable housing finance company by assets, reported assets under management of Rs 21,124 crore as of December 2025 and operates 216 branches across 19 states. It posted total income of Rs 1,905 crore and net profit of Rs 286 crore in FY25.
The DRHP was filed in March 2026. JM Financial, IIFL Capital Services, Kotak Mahindra Capital and Jefferies India are managing the offering.
Published by HT Digital Content Services with permission from VC Circle.