India’s red-hot market for initial public offerings is set to face is biggest supply of mega share sales after the market regulator approved proposals from Hyundai Motor India Pvt., Swiggy Ltd. and Vishal Mega Mart Pvt.

Sebi has approved the IPOs of Swiggy and Hyundai Motor, allowing them to go public in the coming months. Swiggy aims to raise around Rs 10,000 crore, while Hyundai's Rs 25,000 crore issue will be the largest in India's history.

SEBI issued observation letter to Swiggy, and Hyundai Motor India on September 24; Vishal Mega Mart got it on September 25

As per Sebi, the issuance of an observation letter on the IPO draft papers implies that a company can launch its initial share sale within the next one year from the receipt of letter.