Four mainboard companies got SEBI observations on their draft IPO papers this week, and four more put their drafts in front of the regulator. Here are the IPO filings this week, 11 to 17 October 2026, checked against SEBI's own pages and at least two news reports.
Observations are SEBI's clearance. They let a company file its final prospectus and launch an IPO within 12 months, or 18 months for the confidential route.
Which companies got SEBI approval this week?
| Company | Observations on | Structure | Filed |
|---|---|---|---|
| Cult.fit | 12 October | ₹950 crore fresh issue plus 17.86 crore shares on offer | July 2026 |
| Indian Gas Exchange | 12 October | Offer for sale of 1.67 crore shares by IEX | July 2026 |
| Eswari Global Metal Industries | 13 October | ₹500 crore fresh issue plus 1.32 crore shares on offer | July 2026 |
| Sohan Lal Commodity Management | 13 October | Not public (confidential route) | March 2026 |
Cult.fit's sellers include Temasek-backed MacRitchie Investments, Tata Digital and Accel. Indian Gas Exchange is an all-sale issue, so the money goes to IEX, which holds 47.28% of the exchange, and not to the company. We covered Eswari's clearance earlier this week.
Sohan Lal filed through the confidential route, so its issue size has not been disclosed. It must now file an updated draft with full details.
Who filed draft papers this week?
| Company | Fresh issue | Offer for sale | What the money is for |
|---|---|---|---|
| Paramotor Digital Technology | Updated draft, ₹1,000 crore issue | See our post | See our post |
| Soleos Energy | Up to 1.10 crore shares | Up to 90 lakh shares, all promoters | Price not yet set |
| Grace Renewable Energy | Up to 84.15 lakh shares | Up to 27.85 lakh shares, two promoters | ₹79.31 crore for working capital |
| Vinir Engineering | Up to 7.1 crore shares, 100% fresh | None | ₹149.85 crore for plant and machinery, ₹35 crore for working capital |
Paramotor filed an updated draft after SEBI approval, which we reported on 14 October.
Soleos Energy's draft is dated 30 September and is on SEBI's filings page. It offers up to 2 crore shares of ₹5 face value in total, with 1.10 crore fresh and up to 90 lakh sold by five promoters. The price is blank for now.
Grace Renewable Energy is an Ahmedabad solar EPC firm, a company that designs and installs solar projects. It has commissioned 56.52 MW across more than 2,132 sites, as per Mercom. Vinir Engineering announced its filing on 9 October. It makes forged and machined parts for energy, defence, railways and aerospace, and GYR Capital Advisors is the lead manager.
What our data shows
SEBI's weekly report of 16 October lists 64 drafts under review, down from 77 a week earlier. Cult.fit took 97 days from filing to observations and Indian Gas Exchange took 80, and Axis Capital manages both. The report also shows 41 drafts still waiting for a lead manager and 7 waiting for an exchange.
What happens next
Cleared companies file an updated draft, then a final prospectus, before dates and a price band are announced. Approval does not set a launch date. Track the pipeline on our upcoming mainboard IPO page.
