India’s primary market continues to buzz with excitement as the Securities and Exchange Board of India (SEBI) granted approvals to three promising mainboard IPOs between November 11 and 12, 2025. AceVector Limited (the parent company of Snapdeal), Silver Consumer Electricals Limited, and Steel Infra Solutions Company Limited have cleared the regulatory hurdle, paving the way for their public debuts in the coming months. These approvals highlight the robust confidence in India’s capital markets, where 92 mainboard IPOs have already hit the street in 2025 alone.
For retail investors, these are classic mainboard offerings with a minimum application amount of just ₹15,000 – making them accessible to a wide audience. With SEBI’s observation letters in hand, these companies can now launch their IPOs anytime within the next 12 months. Investors should start preparing demat accounts, monitor grey market premiums (GMP), and analyze the Red Herring Prospectuses (RHPs) once filed.
Understanding the IPO Approval Process in India
Companies planning to go public follow a structured path regulated by SEBI. The journey begins when a company appoints merchant bankers (lead managers) to handle the issue. These bankers prepare the Draft Red Herring Prospectus (DRHP), a detailed document outlining the company’s business model, financials, risks, and fund utilization plans.
The DRHP is filed with SEBI for scrutiny. The regulator reviews disclosures, ensures compliance, and typically issues observations (approval) within 1-3 months, though complex cases can take longer. Some companies opt for confidential pre-filing to keep early details private before updating the DRHP publicly.
Once SEBI clears the draft (via an observation letter), the company files the final Red Herring Prospectus (RHP) with the Registrar of Companies (RoC), sets the price band, and opens the IPO for subscription – usually for three days. Post-subscription comes allotment, followed by listing on BSE and NSE.
This efficient process has kept India’s IPO pipeline strong, attracting diverse sectors from e-commerce to manufacturing.
Why These Three IPOs Are Generating Buzz in November 2025
The latest SEBI nods come at a time when investor appetite for quality mainboard issues remains high. These three companies span high-growth sectors: value e-commerce, consumer durables, and infrastructure – all aligned with India’s consumption and capex themes.
Retail participation in mainboard IPOs has surged, thanks to digital platforms and UPI-based applications. Each of these IPOs requires only ₹15,000 for one lot, allowing investors to apply from multiple family demat accounts to boost allotment chances.
AceVector Limited IPO: Snapdeal’s Parent Makes a Comeback
AceVector, the holding company behind the iconic e-commerce platform Snapdeal, received SEBI approval for its confidential pre-filing DRHP on November 11, 2025. Founded by Kunal Bahl and Rohit Bansal, AceVector also owns Unicommerce (already listed) and Stellaro Brands.
After withdrawing a planned IPO in 2022 amid tough market conditions, AceVector is reviving its public listing ambitions. The company has repositioned Snapdeal as a value-focused marketplace targeting price-sensitive consumers in tier-2/3+ cities. Over 80% of its orders are under ₹599, and festive sales in September-October 2025 jumped 60% year-on-year.
Key IPO Highlights:
- Filing Route: Confidential pre-filing (July 2025)
- Expected Issue Size: ₹1,200-1,500 crore (fresh issue + OFS; final details post updated DRHP)
- Use of Proceeds: Likely expansion of supply chain, tech upgrades, and general corporate purposes
- Strengths: Strong focus on non-metro India, profitable growth trajectory, and proven founder track record
AceVector’s IPO could appeal to investors betting on the resurgence of value e-commerce amid rising rural and semi-urban digital adoption.
Silver Consumer Electricals IPO: A ₹1,400 Crore Consumer Durables Powerhouse
Rajkot-based Silver Consumer Electricals (SCEL) secured SEBI approval on November 12, 2025, for its much-anticipated ₹1,400 crore mainboard IPO. One of India’s fastest-growing consumer electrical brands, Silver manufactures pumps, motors, fans, lighting, solar products, and agricultural equipment.
The company boasts massive installed capacity: 24 lakh pumps/motors, 72 lakh fans, and 2.19 crore lighting units annually. Backed by strong distribution and OEM tie-ups, Silver has consistently delivered revenue growth and healthy margins.
IPO Structure and Objectives:
- Total Issue: ₹1,400 crore
- Fresh Issue: ₹1,000 crore
- Offer for Sale (OFS): ₹400 crore
- Fund Allocation: ₹865 crore for debt repayment/prepayment, ₹35 crore to clear subsidiary BAPL’s borrowings, balance for general corporate purposes
- Lead Managers: Motilal Oswal, ICICI Securities, JM Financial, Choice Capital
Debt reduction will strengthen the balance sheet, lower interest costs, and free up cash for expansion. With India’s rising rural electrification and housing boom, Silver is well-positioned in the fast-moving electrical goods (FMEG) segment.
Steel Infra Solutions Company IPO: Riding India’s Infrastructure Wave
Steel Infra Solutions Company (SISCOL), a Delhi-based integrated structural steel fabricator, also received SEBI clearance on November 11, 2025. The company designs, engineers, fabricates, and erects heavy steel structures for bridges, metros, power plants, and industrial projects.
Clients include blue-chips like Tata Steel, L&T, Adani Power, and ArcelorMittal Nippon Steel. With six manufacturing units (total capacity 100,000 MT/year) and an order book of over ₹800 crore as of March 2025, SISCOL benefits directly from India’s ₹111 lakh crore National Infrastructure Pipeline.
IPO Details:
- Fresh Issue: ₹96 crore
- OFS: 1.42 crore shares
- Proceeds Utilization: Expand facilities in Vadodara, Hyderabad, and Bhilai; invest in automation, working capital, and debt reduction
- Lead Manager: DAM Capital Advisors
Infrastructure remains a top sectoral theme, and SISCOL’s specialized capabilities make it a pure-play bet on capex revival.
How Retail Investors Can Maximize Allotment Chances in These IPOs
Mainboard IPOs often see massive oversubscription in the retail category (reserved 35%). To improve odds:
- Apply Early: Bid on Day 1 via UPI for faster processing.
- Use Multiple Demat Accounts: Apply one lot from each family member’s account (ensure separate PAN and bank linkage).
- Bid at Cut-Off Price: Increases chances in proportionate allotment.
- Avoid Last-Minute Rush: Technical glitches peak on Day 3.
- Track HNI Leverage: High NII subscription can trigger retailer quotas under SEBI rules.
Open demat accounts well in advance – many brokers offer zero-balance options now.
Grey Market Premium (GMP): Early Indicator of Listing Pop
As of November 19, 2025, GMP data is emerging but remains fluid since RHPs are pending:
- AceVector: Early unofficial GMP hints at moderate premium reflecting value-ecommerce revival.
- Silver Consumer Electricals: Strong brand pull suggests healthy GMP once price band is announced.
- Steel Infra Solutions: Infra theme typically commands solid pre-listing interest.
GMP is unofficial and speculative – use it only as sentiment gauge, not investment advice.
Preparation Checklist Before These IPOs Open
Savvy investors start homework early:
- Study Updated DRHP/RHP when filed (focus on risks, valuations, peer comparison)
- Analyze Financials: Revenue growth, margins, debt levels, RoCE
- Check Promoter Background and Lock-In Periods
- Monitor Market Conditions: Broader indices influence listing gains
- Set Realistic Expectations: Not every IPO delivers bumper listings
Join reliable IPO communities or follow trusted analysts for real-time updates on price bands, subscription trends, and allotment strategies.
The Bigger Picture: Why 2025 Remains a Blockbuster Year for Indian IPOs
With over 90 mainboard listings already in 2025 and a pipeline bursting with names like Groww, PhysicsWallah, boAt, and ICICI Prudential AMC, India’s primary market shows no signs of slowing. Retail participation has democratized wealth creation, while strong domestic liquidity cushions global volatility.
The SEBI approvals for AceVector, Silver Consumer Electricals, and Steel Infra Solutions add three high-quality, sector-diverse options to the menu. Whether you’re a listing-gain hunter or long-term believer in India’s growth story, these upcoming mainboard IPOs deserve a spot on your watchlist.
Stay prepared, bid wisely, and keep multiple demat accounts ready. The next wave of wealth-creation opportunities is just around the corner.