Ahmedabad, October 5, 2026: Valmiki Leela Capital, a SEBI-registered Category I merchant banker, today announced that five companies advised by them filed draft red herring prospectuses in September 2026, with an aggregate proposed issue size of approximately ₹1,100 crore.
The filings comprise four mainboard IPOs and one SME offering, spanning solar engineering, procurement and construction, solar power generation, pharmaceuticals, fast-moving electrical goods and wires, and packaging. The transactions bring together businesses serving energy, manufacturing and consumer markets, with different operating models and capital requirements.
The filings come amid active fundraising in India’s IPO market, with companies across sectors preparing to access public capital. The opportunity extends beyond large offerings to businesses seeking a wider shareholder base and funding for their next stage of growth.
The current calendar year has already seen mainboard IPO cumulative fundraising cross the Rs 1 lakh crore and is pegged around Rs 1.10 lakh crore. This is the third straight year that mainboard IPO fundraising has crossed the Rs 1 lakh crore mark.
Further, the SME IPO segment has also seen nearly 160 offerings till September.
CA Pankaj Agrawal, Director, Valmiki Leela Capital, said, “Every IPO journey requires preparation well before the filing stage. These transactions represent the work being done with companies across different sectors to build the right foundation for accessing the capital markets.”
The sectors represented in the September filings also showcase the diverse expertise that Valmiki Leela Capital brings to the table. Solar project contractors and power producers have distinct revenue models and project risks. Pharmaceutical, electrical goods and packaging businesses must explain their respective markets, operating costs and competitive positions. These differences make company-specific disclosures important when presenting several transactions under a common fundraising announcement.
CA Sandeep Gupta, Director, Valmiki Leela Capital, said, “September has been an active month for us, with five DRHP filings across both Mainboard and SME platforms. The diversity of sectors and the scale of these transactions reflect the range of companies we are working with as they prepare for the public markets.”
The proposed ₹1,100-crore aggregate relates to offerings at the draft filing stage. The issues remain subject to applicable approvals, market conditions and the respective companies’ timelines.
About Valmiki Leela Capital
Valmiki Leela Capital Private Limited is a SEBI-registered Category I merchant banker providing investment banking, capital markets and corporate finance advisory services. Its services include mainboard and SME IPO advisory, pre-IPO and private fundraising, qualified institutional placements, rights issues, preferential placements, mergers and acquisitions, and strategic transactions
