The Iran-Israel war has created turmoil in global markets, and the Indian market is no exception. Benchmark indices Nifty and Sensex are plummeting daily. Nevertheless, market sentiment remains optimistic as the Securities and Exchange Board of India (SEBI) has issued observation letters to three major companies. SEBI has given the green light to Bonbloc Technologies, Milestone Gears, and Eastman Auto & Power. All these observations were issued between March 4 and 6, 2026. Let’s learn more about the latest IPO approvals this week.
Eastman Auto IPO Approval
Leading the charge in the renewable energy and power electronics space, Eastman Auto & Power received its observation letter on 4 March 2026. The Gurugram-based company is a prominent player in Indiaās energy transition, offering a diversified portfolio spanning battery storage, solar technologies, and last-mile e-mobility solutions. Notably, Eastman Auto commands more than half of the market share in the Electric 3-Wheeler (E3W) battery segment in India, making it a critical beneficiary of the nation’s shift toward green mobility.
Eastman Auto opted for the confidential “Pre-Filing” route and submitted its draft documents on 9 December 2025. This strategic approach allowed the company to interact with the regulator privately before making its plans public. The estimated IPO size is substantial, ranging fromĀ INR 1,800 Crore toINR 2,000 Crore.
Bonbloc Technologies IPO Approval
Bonbloc Technologies is a Chennai-based enterprise technology firm. The company has received its SEBI observation letter on 5 March 2026. Specializing in AI-native SaaS solutions, the company focuses on digital transformation by integrating Blockchain, the Internet of Things (IoT), and Data Science. Its platforms are designed to provide global enterprises with real-time decision-making capabilities and predictive analytics, catering to industries where transparency and automated supply chain management are paramount.
The company formally submitted its Draft Red Herring Prospectus (DRHP) on 8 October 2025. The proposed initial public offering is structured as a combination of a fresh issue (INR 230 crore) and an Offer for Sale (3 crore equity shares).
Milestone Gears IPO Approval
From the industrial sector, Milestone Gears obtained its IPO approval from SEBI on 6 March 2026. The company was established in 1984 in Haryana. Milestone Gears has evolved into a leading manufacturer of high-precision, complex engineered transmission components. The company serves a marquee list of global and domestic Original Equipment Manufacturers (OEMs) across the tractor, construction equipment, and electric vehicle (EV) segments. With a dominant market presenceāsupplying to all of the top nine tractor OEMs in Indiaāthe company is a vital link in the agricultural and heavy industry supply chain. Milestone Gears had filed its preliminary IPO papers with the regulator on 27 November 2025. Milestone Gears IPO is a combination of Fresh+OFS & the total issue size is estimated at approximately INR 1,100 crore.