Capital markets regulator on Friday, 08 May approved initial public offerings (IPOs) of several companies, including quick commerce platform Zepto, Bain Capital-backed Dhoot Transmission, Crystal Crop Protection, Hotel Polo Towers, Surgiwear and Horizon Industrial Parks.
The companies had filed their draft IPO papers between October 2025 and February 2026 and received Sebi’s observations between 04 May and 08 May. In regulatory terms, the observations amount to approval for launching public issues.
Among the prominent names, Zepto’s IPO is expected to include a combination of fresh issue of shares and an offer-for-sale by existing investors. The proceeds from the fresh issue are likely to be used towards business expansion and scaling operations.
The quick commerce startup, valued at around USD 7 billion, has raised nearly USD 1.8 billion, or around Rs 16,000 crore, since inception from global marquee investors.
In October 2025, Zepto raised USD 450 million in a funding round led by the California Public Employees’ Retirement System (CalPERS), valuing the company at USD 7 billion.
Founded by Aadit Palicha and Kaivalya Vohra, Zepto became a unicorn in August 2023 after raising $200 million in its Series E round at a valuation of USD 1.4 billion. The company rapidly expanded its 10-minute grocery delivery model across major Indian cities.
Meanwhile, auto components maker Dhoot Transmission, backed by Bain Capital, is also set to hit the primary market. Founded by Rahul Dhoot over two decades ago, the company supplies products to automotive and consumer durable original equipment manufacturers (OEMs).
Dhoot Transmission manufactures wiring harnesses, automotive switches, electronic sensors and controllers, connectors and terminals, automotive cables, power cords and battery packs. |
