Sebi approves IPOs of Duroflex, Virupaksha Organics, Premier Industrial, and 2 others
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The Securities and Exchange Board of India (Sebi) on Friday approved five companies across consumer, pharmaceutical and industrial manufacturing segments to proceed with their initial public offerings (IPOs). The list includes Duroflex, Virupaksha Organics, Premier Industrial, Hexagon Nutrition, and Om Power Transmission.
Here’s all you need to know about these IPOs:
Duroflex IPO
The public issue of the mattress manufacturers comprises a fresh issue of equity shares aggregating up to ₹183 crore and an offer for sale (OFS) of up to 2.25 crore equity shares by promoters and existing investors.
A leading sleep and comfort solutions provider, Duroflex operates across mattresses, foam, furniture, pillows, accessories and other bedding products under brands such as Duroflex, Sleepyhead and Perfect Rest. The proposed listing is expected to strengthen the company’s brand positioning and support its next phase of growth in the organised mattress and sleep-tech segment.
The fresh IPO proceeds are intended to set up new Company-Owned Company-Operated (COCO) stores, repay lease liabilities, and fund marketing/advertising.
As of June 30, 2025, the company had a widespread distribution network comprising 73 Company Owned Company Operated (COCO) stores and over 5,576 general trade outlets, alongside a strong digital presence catering to customers across India.
Virupaksha Organics IPO
The Hyderabad-based company has secured Sebi’s approval to raise ₹740 crore through an IPO. According to its draft red herring prospectus (DRHP), the proposed issue is entirely a fresh issue of equity shares, meaning the entire proceeds will accrue to the company.
Virupaksha had filed its draft papers with Sebi in September 2025 and received the regulator’s observations on February 12, 2026. In regulatory terms, issuance of observations amounts to approval to proceed with the public issue.
The company plans to deploy ₹360 crore from the net proceeds towards capital expenditure for capacity expansion at Units 1, 2, 4 and 5. Another ₹195 crore will be used for prepayment or repayment of certain outstanding borrowings, with the balance allocated for general corporate purposes.
Premier Industrial Corporation IPO
The company, a fast-growing manufacturer in the welding consumables segment across powders and wires categories, has also received the regulator’s approval for its IPO. The offering comprises 2.79 crore equity shares of face value ₹10 each, including a fresh issue of up to 2.25 crore equity shares and an OFS of up to 0.54 crore equity shares.
The OFS includes shares being sold by Arvind Chhotalal Morzaria, Dilip Chhotalal Morzaria, Subhash Chhotalal Morzaria, Lalit Navinchandra Morzaria and Nirmala Navinchandra Morzaria.
The company intends to utilise the net proceeds from the fresh issue to finance capital expenditure for setting up a new wire manufacturing facility at Village Honad, Khalapur, Raigad, Maharashtra. It will also fund expansion at its existing Wada Unit in Palghar, Maharashtra, by increasing manufacturing capacity for certain products. Additionally, proceeds will be used to meet working capital requirements and for general corporate purposes.
Hexagon Nutrition IPO
The Mumbai-based company’s IPO is entirely an Offer for Sale of up to 3,08,59,704 equity shares with a face value of ₹1 each and will be listed on the BSE and NSE. As the issue does not include a fresh component, proceeds will go to existing shareholders.
Hexagon operates across three verticals—micronutrient premixes, clinical and therapeutic nutrition, and consumer health products—and is among India’s largest premix players as well as a leading licensed supplier of micronutrient powders under UN programmes. Its portfolio includes brands such as Pentasure, Obesigo, Pediagold and Nutrone.
The company runs four manufacturing facilities—three in India (Nashik, Chennai and Thoothukudi) and one in Tashkent, Uzbekistan—and exports to over 75 countries. Its pan-India distribution network includes 157 sales personnel and 342 distributors. The IPO will be managed by Cumulative Capital Private Limited and Catalyst Capital Partners Private Limited.
Om Power Transmission IPO
The Ahmedabad-based company’s issue comprises a fresh issue of up to 0.90 crore equity shares and an offer for sale (OFS) of up to 0.10 crore shares, aggregating to 1 crore equity shares of face value ₹10 each. The company plans to list on the BSE and NSE.
Proceeds from the fresh issue will be used for purchase of equipment, repayment of debt and meeting working capital requirements. Beeline Capital Advisors Pvt. Ltd. is the lead manager, while MUFG Intime India Pvt. Ltd. is the registrar.
In FY25, the company reported revenue of ₹279.43 crore, up 53% year-on-year, with a profit after tax of ₹22.08 crore and RoNW of 30.40%. As of August 31, 2025, it had 56 projects worth ₹776.19 crore.