Among the approved companies, Avaada Electro is expected to be the largest offering, with the solar manufacturing firm planning to raise around Rs 9,000-10,000 crore, according to PTI. The Brookfield-backed company is likely to launch a mix of fresh issue and offer-for-sale.
The proceeds will primarily be used to expand manufacturing capacity, including a 5.1 GW integrated solar facility in Uttar Pradesh and additional capacity at its Maharashtra plant. Avaada Electro operates as part of the broader Avaada Group, which has a diversified clean energy presence across solar manufacturing, renewable power, green hydrogen and storage solutions.
The IPO could value the company in the range of Rs 1.1 lakh crore to Rs 1.3 lakh crore, positioning it as one of the largest renewable energy listings in India.
Chennai-based real estate developer Grand Housing is looking to launch a public issue entirely through an offer-for-sale of up to 3.55 crore shares, with no fresh capital being raised.
The company focuses on plotted developments and has a strong presence in Tamil Nadu, particularly around Chennai. Its portfolio includes residential plots as well as industrial land parcels, catering to both individual buyers and institutional demand.
As of March 2025, Grand Housing has completed 39 projects, with 13 ongoing and 7 upcoming developments, reflecting a steady pipeline in a region witnessing strong real estate and industrial activity.Textile-focused Sonaselection India will come out with a pure fresh issue of 1.43 crore equity shares, with proceeds earmarked for debt reduction, capacity expansion and general corporate purposes.
The company plans to utilise around Rs 80 crore for debt repayment and Rs 47.55 crore towards plant and machinery, indicating a focus on strengthening its balance sheet and operational capabilities.
Infrastructure player Vishal Nirmiti will raise funds through a combination of a Rs 125 crore fresh issue and a small offer-for-sale component.
The company operates in civil engineering and construction, with a focus on pre-stressed concrete products, railway infrastructure and irrigation projects. It also manufactures specialised components such as PSC sleepers and steel pipes for large infrastructure applications.