The primary market is going to be busy next week starting from May 26 as a total of nine initial public offerings (IPOs) worth more than Rs 6,900 crore, including four from mainboard segment, will hit the Dalal Street. In fact, this is the first time in the current year that four public issues from the mainboard segment are opening in a single week, as last this was seen in December 2024.
The improved market sentiment from the second week of April after witnessing subdued sessions since last October, and easing global concerns (geopolitical tensions and trade war) seem to be boosting the primary market mood. The Nifty 50 surged 14 percent and the Nifty Midcap 100 index gained more than 20 percent so far from April lows.
"India’s IPO market is rebounding after nearly a four-month slowdown, driven by improving market sentiment and stabilizing global cues, Mahesh M Ojha,AVP Research & BD at Hensex Securities said.
According to him, companies like Schloss Bangalore and Aegis Vopak Terminals are leading the return with sizable public issues, though most firms are opting for modest valuations and trimming their offer-for-sale portions to suit current investor appetite.
In the mainboard segment, Brookfield-backed Schloss Bangalore, which operates hotels, palaces and resorts under The Leela brand, will be the first to open its Rs 3,500 crore maiden public issue next week on May 26, with price band of Rs 413-435 per share. The Leela Hotels IPO, which consists of fresh issuance of equity shares worth Rs 2,500 crore, and an offer-for-sale of Rs 1,000 crore worth shares by promoter, will close on May 28.
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The Aegis Vopak Terminals IPO will also be opening on the same date. The company that operates storage terminals for liquefied petroleum gas plans to raise Rs 2,800 crore via solely fresh issue, at the upper end of price band of Rs 223-235 per share.
This follows the Rs 168-crore Prostarm Info Systems IPO which will open on May 27 and close on May 29. The UPS & inverter manufacturer has fixed price band at Rs 95-105 per share for its IPO that consists of entirely fresh issue.
The Scoda Tubes IPO will be the last from mainboard segment next week, opening on May 28 and closing on May 30. The stainless-steel tubes and pipes maker aims to raise Rs 220 crore via solely fresh issue, and has set price band at Rs 130-140 per share.
Experts believe if the sentiment remains positive the number of IPOs launch in the coming months could increase substantially as more than 60-65 companies including LG Electronics India, SK Finance, NSDL, Avanse Financial Services, Arisinfra Solutions, Kalpataru, Trualt Bioenergy, Vikran Engineering, Regreen, Solarworld Energy Solutions, SMPP, Brigade Hotel Ventures, Indiqube Spaces, Crizac, CIEL HR Services, Travel Food Services, Aye Finance, Anthem Biosciences, Jaro Institute, Credila Financial, Sri Lotus Developers, and Caliber Mining are ready with SEBI approval.
"Over 80 companies, including startups like Zepto, PineLabs, Lenskart, and PhonePe, are in different stages of IPO approval. SEBI is hopeful of resolving pending concerns around the long-delayed NSE IPO. If stability continues, a strong wave of listings is expected between September 2025 and February 2026," Ojha said.
According to the analyst at Bajaj Broking Research, what’s notable is the diversity in sectors — from auto components and hospitality to infrastructure and textiles — signaling broad-based corporate optimism. "If this momentum sustains, we could be looking at one of the strongest quarters for primary markets in recent years."
SME segment
The action will also be seen in the SME segment as five IPOs are slated for opening next week. Astonea Labs, Blue Water Logistics, and Nikita Papers are launching their public issues on May 27 and closing on May 29, followed by Neptune Petrochemicals, and N R Vandana Tex Industries IPOs on May 28.
Pharmaceutical and cosmetic products maker Astonea Labs, the only IPO from the BSE SME segment as the remainder are from the NSE Emerge, plans to mobilise Rs 37.67 crore via public issue at the upper end of price band of Rs 128-135 per share.
Blue Water Logistics, the supply chain solutions provider, targets to raise Rs 40.5 crore via IPO. Its price band is Rs 132-135 per share.
Nikita Papers has fixed price band for its Rs 67.5-crore IPO at Rs 95-104 per share, while the price band for Neptune Petrochemicals' Rs 73.2-crore IPO is Rs 115-122 per share. In fact, Neptune is the biggest IPO amongst them in terms of size.
Cotton textile products maker and wholesaler N R Vandana Tex Industries intends to mop up Rs 27.9 crore via maiden public issue at the upper end of price band of Rs 42-45 per share.
Meanwhile, Borana Weaves, and Belrise Industries, from the mainboard segment, will list their shares on the bourses on May 27, and May 28, respectively, while in the SME segment, Dar Credit and Capital will debut on the NSE Emerge, effective May 28.
Unified Data-Tech Solutions will close its Rs 144.5-crore IPO on May 26, and the trading in its shares will commence on the BSE SME effective May 29.
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