Cotec Healthcare and Deepa Jewellers Get SEBI Approval for IPO Launch; ₹545 Crore Fresh Fundraise Planned

India’s primary market pipeline has expanded further with Cotec Healthcare and Deepa Jewellers receiving final observations from the Securities and Exchange Board of India (SEBI), clearing the way for both companies to launch their initial public offerings (IPOs). SEBI issued its observations on 18 May 2026, which, in regulatory terms, amounts to approval to proceed with the public issues.

Together, the two companies are looking to raise ₹545 crore through fresh issue of shares, apart from sizeable offer-for-sale (OFS) components by existing promoters.

Cotec Healthcare IPO: ₹295 Crore Fresh Issue, 60 Lakh Shares OFS

Pharmaceutical contract manufacturer Cotec Healthcare plans to raise up to ₹295 crore through a fresh issue of equity shares. The IPO also includes an offer-for-sale of 60 lakh equity shares by promoters Harsh Tiwari and Vandana Tiwari.

The company had filed its draft red herring prospectus (DRHP) with SEBI on 19 September 2025.

As per the DRHP, Cotec Healthcare intends to deploy ₹226.25 crore from the fresh issue proceeds towards setting up a new manufacturing project, aimed at expanding its existing production capacity and adding new pharmaceutical products to its portfolio. The remaining amount will be used for general corporate purposes.

Cotec operates in India’s growing contract development and manufacturing organisation (CDMO) segment and is based in Roorkee, Uttarakhand. According to company disclosures, it has capabilities across 24 dosage forms, supplying off-patent pharmaceutical products and complex generic formulations to institutional and private clients. Pantomath Capital Advisors is the book-running lead manager for the issue.

Deepa Jewellers IPO: ₹250 Crore Fresh Issue, 1.18 Crore Shares OFS

Hyderabad-based Deepa Jewellers has also secured SEBI approval for its IPO. The proposed public issue consists of a fresh issue of ₹250 crore and an offer-for-sale of 1,18,48,340 equity shares by promoters Ashish Agarwal and Seema Agarwal.

The company filed its IPO papers in December 2025, with some reports noting the submission of draft papers in early January 2026.

Out of the fresh issue proceeds, ₹215 crore has been earmarked for long-term working capital requirements, mainly for procurement, maintenance and scaling up inventory. The balance funds will go towards general corporate purposes.

Founded in 2016, Deepa Jewellers is an organised B2B designer, processor and supplier of hallmarked gold jewellery. Its portfolio includes 22-carat traditional and contemporary jewellery, catering to organised jewellery chains and independent retailers. The company has a strong presence across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.

IPO Pipeline Gains Momentum

The approvals come amid sustained activity in India’s IPO market, with investor interest remaining firm across sectors such as pharmaceutical manufacturing and jewellery wholesale.

Both Cotec Healthcare and Deepa Jewellers are expected to list on the BSE and NSE. While the issue opening dates and price bands have yet to be announced, SEBI’s approval allows companies to move ahead with filing their red herring prospectuses and launching the offerings over the coming months.

With a combined ₹545 crore fresh fundraise planned, plus OFS of 60 lakh shares in Cotec Healthcare and 1.18 crore shares in Deepa Jewellers, the two IPOs are set to add further depth to India’s 2026 listing calendar.

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Sources:

Economic Times

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