SEBI's latest status report, dated 9 November 2026, shows 66 draft IPO documents under review. The previous report, on 30 October, showed 77. Here is the SEBI IPO approval status, and who has waited the longest.
What changed since the last report?
SEBI publishes a weekly list of draft offer documents (DRHPs), the draft papers a company files before an IPO. Every draft sits in one of a few stages. The table compares the two latest reports.
| Stage | 30 October | 9 November |
|---|---|---|
| Under review at SEBI | 77 | 66 |
| Awaiting lead manager reply | 28 | 36 |
| Awaiting exchange | 4 | 4 |
| On hold | 1 | 1 |
| Approved | 3 | 6 |
The typical draft still under review has waited about 48 days. Approved drafts wait for SEBI's observations, the go-ahead needed before a company can launch its IPO.
Which IPOs got SEBI's nod?
Six names are in the approved section. Three of them were cleared on 4 November.
| Company | Approved on | Days from filing | Lead manager |
|---|---|---|---|
| Arjun Jewellers | 4 November | 95 | Saffron Capital Advisors |
| Encube Ethicals | 4 November | 93 | JM Financial |
| Sagar Defence Engineering | 4 November | 90 | JM Financial |
| IFL Finance | 21 October | 84 | Aryaman Financial Services |
| Veritas Finance | 19 October | 81 | ICICI Securities |
| Mahanadi Coalfields | 15 October | 42 | SBI Capital Markets |
We covered two of these earlier: Veritas Finance and Encube Ethicals. Mahanadi Coalfields moved fastest, in 42 days.
Who has waited the longest?
The table lists the ten drafts that have been pending the longest, counted from the filing date.
| Company | Filed | Days pending | Lead manager |
|---|---|---|---|
| T.C. Terrytex | 9 April | 214 | Sobhagya Capital Options |
| Gaurik Fashions | 11 May | 182 | Credora Partners |
| Arohan Financial Services | 18 May | 175 | DAM Capital Advisors |
| Razorpay Software | 13 June | 149 | Axis Capital |
| Sky Alloys and Power | 24 June | 138 | Gretex Corporate Services |
| Innoterra | 29 June | 133 | InCred Capital |
| Course5 Intelligence | 29 June | 133 | ICICI Securities |
| Stalwart People Services India | 30 June | 132 | Bajaj Capital Securities |
| Renfra Energy India | 1 July | 131 | Unistone Capital |
| Pristine Logistics & Infraprojects | 6 July | 126 | Axis Capital |
Razorpay, Course5 and Pristine Logistics filed under the pre-filing route. A long wait is not a rejection. SEBI may be waiting on replies to its questions.
Which new filings joined the list?
The latest report adds these names. Five are in the stage where SEBI waits for the lead manager, and one is under review.
| Company | Type | Filed | Lead manager |
|---|---|---|---|
| South Eastern Coalfields | OFS only | 4 November | SBI Capital Markets |
| Shreejikrupa Project | Fresh + OFS | 5 October | Anand Rathi Advisors |
| Grace Renewable Energy | Fresh + OFS | 1 October | Marwadi Chandarana |
| Soleos Energy | Fresh + OFS | 1 October | Beeline Capital Advisors |
| Baanganga Gold & Diamond | Fresh + OFS | 29 September | DAM Capital Advisors |
| Wadhwagroup Holding | Pre-filing | 28 September | ICICI Securities |
Three names dropped off the approved section since 30 October: Punjab Carbonic, Ratnadeep Retail and Atomberg Technologies. WOG Technologies, listed as withdrawn last time, is gone too. The report does not say why, so we do not.
Which lead managers are busiest?
Axis Capital has 10 drafts in the queue. ICICI Securities and Beeline Capital Advisors have 6 each. Motilal Oswal Investment Advisors has 4 and Systematix Corporate Services has 3.
What happens next
SEBI updates the report every week, and we will refresh this tracker with the next one. An approval is valid for 12 months, so a company can launch when it chooses within that time. Names that are close to launch appear on our upcoming mainboard IPO page. You can read the official list on SEBI's processing status page.
