Indira IVF Refiles DRHP to Launch ₹3,500 Crore IPO...
16 Jul, 2025
The week ahead promises to be one of the most action-packed for India's flagship market in 2025, with nine new initial public offerings (IPOs) aggregating over Rs 6,900 crore to open for subscription. This spurt, featuring four mainboard IPOs and five from the SME segment, represents a sharp bounceback in investor interest and market mood after a subdued one since the latter part of 2024.
Four major board IPOs are opening during the same week for the first time this year- a last witnessed in December 2024. The biggest among these is Brookfield-backed Schloss Bangalore, which has luxury hotels operating under Leela. It is opening its Rs 3,500 crore IPO, consisting of a new issue of Rs 2,500 crore and an offer for sale of Rs 1,000 crore, on May 26 at a price band of Rs 413-435 per share and will close on May 28.
Aegis Vopak Terminals, a major operator of LPG storage terminals, would also roll out its Rs 2,800 crore IPO on May 26, all through a new issue at a price band of Rs 223-235 a share. Prostarm Info Systems, an inverter and UPS manufacturer, rounds out the mainboard offerings, opening its Rs 168-crore IPO on May 27 at a price band of Rs 95-105 a share. Scoda Tubes, a manufacturer of stainless-steel tubes and pipes, completes the mainboard offerings, seeking to raise Rs 220 crore on May 28 to May 30 at a price band of Rs 130-140 a share.
The SME segment is also equally busy, with five IPOs opening for launch. Astonea Labs, Blue Water Logistics, and Nikita Papers will open their issues on May 27, while Neptune Petrochemicals and N R Vandana Tex Industries will do it on May 28. Astonea Labs, the lone BSE SME IPO, is aiming to raise Rs 37.67 crore. Blue Water Logistics will raise Rs 40.5 crore, while Nikita Papers will raise Rs 67.5 crore. Neptune Petrochemicals, the largest among the SME IPOs, aims to mop up Rs 73.2 crore, while N R Vandana Tex Industries will raise Rs 27.9 crore.
The renewed interest in the primary market has been caused by enhanced market sentiment since April, after a difficult period filled with global uncertainties. The Nifty 50 has registered a 14 percent and the Nifty Midcap 100 has over 20 percent increase since April lows, a sign of increasing investor confidence.
Philip Capital's AVP & KMP Research, Jayesh Demarchi, comments, "Increased RBI intervention has been a major support. This has led to some stability in the dollar/rupee rate. The easing of the dollar shortage has helped the bond market to come back to life. We expect a pick-up in the calendar over the next quarter.
Analysts cite the broad range of sectors participating in the latest wave of IPOs, ranging from the hospitality to the infrastructure, auto component, and textile sectors. This diversified participation, as seen by Bajaj Broking Research, implies brisk corporate confidence and paves the way for potentially one of the strongest quarters for primary markets in recent times.
Looking forward, the IPO queue is healthy. There are over 60-65 firms, including industry leaders like LG Electronics India, NSDL, Avanse Financial Services, and SK Finance, already been cleared by SEBI. Moreover, over 80 firms, including prominent startup firms Zepto, PineLabs, Lenskart, and PhonePe, are at various stages of clearance. If stability at current levels prevails, experts see a robust wave of launches between September 2025 and February 2026.
Apart from the new IPOs, shares of Borana Weaves and Belrise Industries in the mainboard segment will be listed on May 27 and May 28, respectively. Dar Credit and Capital will list on the NSE Emerge in the SME segment on May 28, while Unified Data-Tech Solutions will complete its Rs 144.5-crore IPO on May 26, and trading will start on May 29.
With a crowded calendar and increasing hopes, next week promises to be a turning point for India’s primary market, with a wide choice of opportunities available to investors across segments and sectors.
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