Chennai to Erode: Tamil Nadu companies lead IPO rush in 2026

Chennai: Several relatively newer Tamil Nadu-based business houses are shedding their conservative tag and knocking on SEBI’s doors to tap the IPO market.

Two companies — Milky Mist, headquartered in Erode, and Chennai-based Lalithaa Jewellery — have already gone public this year and witnessed strong subscription.

A few more are expected to join the queue in the coming months. Chennai-headquartered drone technology company Garuda Aerospace and consumer durables company Sathya Agencies are expected to join the IPO queue.

“Each year, around three to four companies from Tamil Nadu are getting listed,” said an analyst tracking the markets. Over the last three years, several Tamil Nadu-based companies including Avalon Technologies Ltd., R.K. Swamy Ltd., Northern Arc Capital Ltd., Dr. Agarwal’s Healthcare Ltd. and Glottis Ltd., have tapped the IPO market.