IPO rush next week: 7 public offers worth over Rs 2,000 crore to open for subscription

Synopsis

Three mainboard IPOs and four SME offerings open this week, aiming to raise over Rs 1,900 crore. Powerica leads the pack, with all issues open March 24–27 amid cautious investor sentiment and volatile markets.

Primary markets are set for a busy week ahead, with three mainboard IPOs collectively targeting to raise over Rs 1,900 crore, led by power solutions player Powerica. Along with the mainboard segment, four other SME companies are also planning their offerings.

The busy rush comes at a time when investor sentiment remains selective, with markets closely tracking geopolitical scenario and volatility. All three mainboard issues -- Powerica, Amir Chand Jagdish Kumar (Exports), and Sai Parenteral's -- will open for subscription on March 24 and close on March 27, setting up a packed four-day window for investors.

Powerica IPO: Largest issue in the lot

Powerica's Rs 1,100 crore IPO is the biggest among the upcoming offerings. The issue comprises a fresh issue of Rs 700 crore and an offer for sale of Rs 400 crore. The company has fixed a price band of Rs 375-395 per share. At the upper end, the IPO values the company at a pre-issue market cap of around Rs 4,998 crore.

Powerica operates in the power solutions space, manufacturing diesel generator sets across a wide capacity range and also running wind power projects. The company plans to utilise Rs 525 crore from the fresh issue towards debt repayment.

Financially, the company reported revenue of Rs 2,711 crore and profit after tax of Rs 176 crore in FY25, indicating stable operating performance, though return ratios have moderated compared to earlier periods.

Amir Chand Jagdish Kumar IPO: Export-led FMCG play

The Rs 440 crore IPO of Amir Chand Jagdish Kumar (Exports) is entirely a fresh issue, with a price band of Rs 201–212 per share. The company operates a fully integrated basmati rice processing and export business, with additional FMCG offerings under the "Aeroplane" brand. It exports to over 38 countries and has built a diversified product portfolio spanning staple foods.

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The company plans to use the IPO proceeds primarily for working capital requirements, which is typical for agri-processing and export-driven businesses.

For FY25, the company reported revenue of Rs 2,004 crore and profit after tax of Rs 61 crore, reflecting steady growth driven by both domestic and export demand.

Sai Parenteral's IPO: Pharma manufacturing and CDMO exposure

Sai Parenteral's IPO, sized at Rs 409 crore, comprises a fresh issue of Rs 285 crore and an OFS of Rs 124 crore. The price band has been set at Rs 372-392 per share.

The company is a pharmaceutical formulations player with capabilities across branded generics and contract development and manufacturing (CDMO). It has a diversified product portfolio and exports to regulated and semi-regulated markets.

Proceeds from the fresh issue will be used for capacity expansion, R&D, debt repayment and working capital requirements.

SME segment also active

Alongside mainboard activity, the SME segment will also see four listings from Vivid Electromech, Emiac Technologies, Highness Microelectronics and Tipco Engineering. While SME IPOs have seen mixed participation in recent months, listing performance has been muted, mirroring the broader trend of increasing scrutiny on valuations and business fundamentals.

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(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

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