Tea Post Files Draft Papers for IPO...
14 Jun, 2025
The Indian stock market is abuzz this week as four prominent companies- Schloss Bangalore Ltd. (The Leela Palaces, Hotels & Resorts), Aegis Vopak Terminals Ltd., Prostarm Info Systems Ltd., and Astonea Labs Ltd. have launched their initial public offerings (IPOs), signaling renewed confidence in India’s capital markets and offering investors a diverse range of opportunities.
Schloss Bangalore Ltd., the operator of the iconic Leela Palaces, Hotels & Resorts, opened its ₹3,500 crore IPO on May 26. The issue comprises a fresh issue of ₹2,500 crore and an offer for sale (OFS) of ₹1,000 crore by its promoter, Project Ballet Bangalore Holdings (DIFC) Pvt Ltd, an affiliate of Brookfield Asset Management.
The proceeds will primarily be used to repay borrowings and fund expansion, with five new luxury hotels planned in Agra, Srinagar, Bandhavgarh, Ranthambore, and Ayodhya. With 13 hotels and 3,553 rooms, Schloss Bangalore is India’s largest pure-play luxury hospitality brand.
Aegis Vopak Terminals Ltd., India’s largest independent operator of LPG and liquid storage terminals, is seeking to raise ₹2,800 crore through a fully fresh issue. Funds will be used for debt repayment, capital expenditure—including a new LPG terminal in Mangalore—and general corporate purposes. The company boasts a strong presence at major Indian ports, positioning itself as a key player in the country’s energy infrastructure.
Prostarm Info Systems, a leader in power conditioning and energy storage solutions, has launched a ₹168 crore IPO consisting entirely of a fresh issue of 1.6 crore equity shares.
The company, which manufactures UPS systems, inverters, lithium-ion battery packs, and voltage stabilizers, plans to use the proceeds for working capital, debt repayment, inorganic growth, and general corporate purposes. Prostarm serves critical sectors such as IT, healthcare, education, railways, and aviation, with a network spanning 22 branch offices and 2 depots across 17 states and one union territory.
Astonea Labs Ltd., a research-focused pharmaceutical and life sciences company, is also among this week’s IPOs, going to raise ₹37.67 Cr from the market.
Funds will support registration expenses in Bolivia, purchase and installation of new ointment production machinery for exports, and advertising and brand building. Additional allocations include investment in hardware and software, meeting working capital needs, and general corporate purposes. The company is known for its innovation in pharmaceutical formulations and life sciences products.
The simultaneous launch of these four IPOs marks one of the busiest weeks for Indian primary markets in 2025. Industry experts say the diversity of sectors—from luxury hospitality and energy infrastructure to technology and life sciences reflects broad-based confidence in India’s economic growth prospects.
All four IPOs are expected to close for subscription by May 29, with allotment results anticipated by the end of the week and listings scheduled for early June. Market watchers believe the response to these offerings will set the tone for upcoming IPOs in the second half of the year.
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