Open & Upcoming IPOs

Dar Credit & Capital's IPO received 98.54x subscription, with bids worth over ₹1,800 crore. The ₹25.66 crore issue, priced at ₹57-60 per share, saw 30.15 crore shares bid for. Share allotment will be finalized by May 26, with trading on NSE Emerge starting May 28. Proceeds will enhance capital and fund corporate purposes.

Scoda Tubes, a Gujarat-based stainless-steel tubes and pipes manufacturer, has set a price band of Rs 130-140 per share for its Rs 220-crore IPO, opening on May 28 and closing on May 30. The fresh issue will fund production expansion, working capital, and corporate purposes. Shares will list on BSE and NSE by June 4.

Neptune Petrochemicals, a manufacturer of bitumen products and emulsions, will launch its Rs 73.2 crore IPO on May 28 with a price band of Rs 115-122 per share. The issue, closing on May 30, comprises 60 lakh fresh shares. Funds will be used for plant expansion (Rs 5.15 crore), office purchase (Rs 14.7 crore), and working capital (Rs 42 crore).

📌Leela Hotels IPO will open for public subscription on Monday, May 26, and will close on Wednesday, May 28. 📌Leela Hotels IPO price band has been set at ₹413 to ₹435 per share. 📌At the upper-end of the price band, Leela Hotels IPO size is ₹3,500 crore. 📌According to stock market observers, Leela Hotels IPO GMP today has risen to ₹15 per share.

The IPO frenzy around Borana Weaves is nearing its final act. After a 3 day bidding window between May 20 and May 22, investors are now eagerly waiting to find out if they have been allotted shares. The share allotment is expected to be finalised today, May 23, and there are three easy ways to check your allotment status, that is, through BSE, NSE, or KFin Technologies, the registrar for this IPO.

IPO of Belrise Industries continued to see strong interest from investors on Friday, May 23, the third and final day of public bidding. The ₹2,150-crore IPO of the company was subscribed nearly 6 times within the three days. NII overtook retail investors by booking their reserved portion by a whopping 20.23 times. In the grey market, shares of Belrise Industries are commanding a premium of ₹23.

Borana Weaves' ₹145-crore IPO, subscribed 149 times overall, will finalize share allotment on May 23. Retail investors subscribed 200 times, NIIs 237.42 times, and QIBs 87.2 times. Refunds and Demat transfers are set for May 26, with shares debuting on BSE and NSE on May 27. Proceeds will fund a new Surat facility and working capital.

Schloss Bangalore Ltd., operator of The Leela luxury hotels, will debut its IPO on May 26, priced at ₹413-₹435 per share, with a ₹3,500 crore issue. The IPO includes a fresh issue of ₹2,500 crore and an OFS of ₹1,000 crore. The minimum retail investment is ₹14,042 for 34 shares. The company aims to list on BSE and NSE by June 2, backed by Brookfield, with plans to expand its luxury portfolio.

Borana Weaves' IPO, open from 20 to 22 May 2025, saw a strong response with 29.46x subscription in two days. The grey market premium rose to ₹61. Retail, NII, and QIB portions were subscribed 77.16x, 53.07x, and 1.76x, respectively. Experts recommend subscribing, citing strong fundamentals, high capacity utilization, and growth in synthetic textiles.

Shiprocket has filed draft papers with SEBI for an IPO aiming to raise ₹2,000-2,500 crore, with a fresh share sale of ₹1,000-1,200 crore. Proceeds will fund product development, tech upgrades, and logistics expansion. Despite a net loss of ₹595 crore in FY24, the company reduced cash burn by 50% and saw 21% revenue growth to ₹1,316 crore, with emerging businesses contributing 20% of revenue.

IPO of the inverter maker, Prostarm Info Systems, will open for subscription next week on May 27, 2025. The public offer will close for bidding on May 29. With this, Prostarm Info Systems will be the third mainboard IPO to hit Dalal Street next week, alongside Aegis Vopak Terminals and Schloss Bangalore (The Leela). The price band for Prostarm Info Systems IPO has been fixed at ₹95-105 per share.

Aegis Vopak Terminals' ₹2,800-crore Initial Public Offering (IPO) will open on May 26 at ₹223-235 per share, valuing the company at ₹26,038 crore. Proceeds will fund debt repayment and a terminal acquisition. Revenue rose to ₹154 crore in FY24, with a net profit of ₹25.78 crore. Listing is set for June 2 on BSE and NSE.

Borana Weaves' Rs 145-crore IPO saw strong demand, subscribed over 12.65 times on Day 2, with retail investors booking 37 times their quota. The company aims to raise funds for a new manufacturing unit and working capital. The grey market premium is around 24%, indicating strong listing potential. Experts suggest it's a good short-term opportunity.

Prostarm Info Systems Ltd.'s IPO opens on May 27 with a price band of ₹95-₹105 per share, aiming to raise ₹168 crore. Proceeds will fund working capital, debt repayment, and acquisitions. The company reported a 18% rise in net profit to ₹22.8 crore and a 12% revenue increase to ₹258 crore in FY24. Listing is set for June 3, 2025.

Belrise Industries' Rs 2,150-crore IPO saw 9% subscription on Day 1, with NIIs booking 15% and retail investors 12%. The price band is Rs 85-90 per share, with the issue closing on May 23. The grey market premium is Rs 12, indicating a 13.33% premium. Brokerages recommend 'subscribe' citing strong market position and growth prospects. Listing is on May 28.

Schloss Bangalore, owner of The Leela luxury hotels, has set an IPO price band of ₹413-₹435 per share for its ₹3,500 crore offering. The IPO, reduced by 30%, will run May 26-28, with anchor bids starting May 23. Proceeds will primarily repay debt. The company operates 12 properties and has shown financial recovery. Listing is expected June 2, 2025.

The Leela, owned by Brookfield via Schloss Bangalore, has set its IPO price band at Rs 413-435 per share, valuing the company at Rs 14,527.16 crore at the upper end. The Rs 3,500-crore IPO, reduced from Rs 5,000 crore, includes a fresh issue of Rs 2,500 crore and an offer-for-sale of Rs 1,000 crore. Proceeds will primarily repay debt.

Belrise Industries' IPO opened today with a price band of ₹85-₹90 per share, aiming to raise ₹2,150 crore. The issue closes on 23 May, with allotment expected by 24 May and listing on 28 May. Shares trade at a ₹4 premium in the grey market. Analysts recommend a 'Subscribe – Long Term' rating, citing strong manufacturing and alignment with EV growth.

Aegis Vopak Terminals Ltd has set an IPO price band of Rs 223-235 per share, with the issue opening on May 26 and closing on May 28. The Rs 2,800 crore IPO will fund debt repayment and a cryogenic LPG terminal acquisition. The company reported Rs 154.02 crore revenue and Rs 25.78 crore net profit in FY24, operating 18 terminals across India.

Asset Reconstruction Company (India) Limited (ARCIL), India’s first asset reconstruction company, is preparing for an initial public offering (IPO) with a size of around Rs 1,000-1,500 crore. Backed by Avenue Capital Group (69.7% stake) and State Bank of India, ARCIL manages assets worth Rs 16,926 crore as of December 2024, focusing on acquiring SME and retail assets.

Dar Credit & Capital's IPO received 98.54x subscription, with bids worth over ₹1,800 crore. The ₹25.66 crore issue, priced at ₹57-60 per share, saw 30.15 crore shares bid for. Share allotment will be finalized by May 26, with trading on NSE Emerge starting May 28. Proceeds will enhance capital and fund corporate purposes.

Scoda Tubes, a Gujarat-based stainless-steel tubes and pipes manufacturer, has set a price band of Rs 130-140 per share for its Rs 220-crore IPO, opening on May 28 and closing on May 30. The fresh issue will fund production expansion, working capital, and corporate purposes. Shares will list on BSE and NSE by June 4.

Neptune Petrochemicals, a manufacturer of bitumen products and emulsions, will launch its Rs 73.2 crore IPO on May 28 with a price band of Rs 115-122 per share. The issue, closing on May 30, comprises 60 lakh fresh shares. Funds will be used for plant expansion (Rs 5.15 crore), office purchase (Rs 14.7 crore), and working capital (Rs 42 crore).

📌Leela Hotels IPO will open for public subscription on Monday, May 26, and will close on Wednesday, May 28. 📌Leela Hotels IPO price band has been set at ₹413 to ₹435 per share. 📌At the upper-end of the price band, Leela Hotels IPO size is ₹3,500 crore. 📌According to stock market observers, Leela Hotels IPO GMP today has risen to ₹15 per share.

The IPO frenzy around Borana Weaves is nearing its final act. After a 3 day bidding window between May 20 and May 22, investors are now eagerly waiting to find out if they have been allotted shares. The share allotment is expected to be finalised today, May 23, and there are three easy ways to check your allotment status, that is, through BSE, NSE, or KFin Technologies, the registrar for this IPO.

IPO of Belrise Industries continued to see strong interest from investors on Friday, May 23, the third and final day of public bidding. The ₹2,150-crore IPO of the company was subscribed nearly 6 times within the three days. NII overtook retail investors by booking their reserved portion by a whopping 20.23 times. In the grey market, shares of Belrise Industries are commanding a premium of ₹23.

Borana Weaves' ₹145-crore IPO, subscribed 149 times overall, will finalize share allotment on May 23. Retail investors subscribed 200 times, NIIs 237.42 times, and QIBs 87.2 times. Refunds and Demat transfers are set for May 26, with shares debuting on BSE and NSE on May 27. Proceeds will fund a new Surat facility and working capital.

Schloss Bangalore Ltd., operator of The Leela luxury hotels, will debut its IPO on May 26, priced at ₹413-₹435 per share, with a ₹3,500 crore issue. The IPO includes a fresh issue of ₹2,500 crore and an OFS of ₹1,000 crore. The minimum retail investment is ₹14,042 for 34 shares. The company aims to list on BSE and NSE by June 2, backed by Brookfield, with plans to expand its luxury portfolio.

Borana Weaves' IPO, open from 20 to 22 May 2025, saw a strong response with 29.46x subscription in two days. The grey market premium rose to ₹61. Retail, NII, and QIB portions were subscribed 77.16x, 53.07x, and 1.76x, respectively. Experts recommend subscribing, citing strong fundamentals, high capacity utilization, and growth in synthetic textiles.

Shiprocket has filed draft papers with SEBI for an IPO aiming to raise ₹2,000-2,500 crore, with a fresh share sale of ₹1,000-1,200 crore. Proceeds will fund product development, tech upgrades, and logistics expansion. Despite a net loss of ₹595 crore in FY24, the company reduced cash burn by 50% and saw 21% revenue growth to ₹1,316 crore, with emerging businesses contributing 20% of revenue.

IPO of the inverter maker, Prostarm Info Systems, will open for subscription next week on May 27, 2025. The public offer will close for bidding on May 29. With this, Prostarm Info Systems will be the third mainboard IPO to hit Dalal Street next week, alongside Aegis Vopak Terminals and Schloss Bangalore (The Leela). The price band for Prostarm Info Systems IPO has been fixed at ₹95-105 per share.

Aegis Vopak Terminals' ₹2,800-crore Initial Public Offering (IPO) will open on May 26 at ₹223-235 per share, valuing the company at ₹26,038 crore. Proceeds will fund debt repayment and a terminal acquisition. Revenue rose to ₹154 crore in FY24, with a net profit of ₹25.78 crore. Listing is set for June 2 on BSE and NSE.

Borana Weaves' Rs 145-crore IPO saw strong demand, subscribed over 12.65 times on Day 2, with retail investors booking 37 times their quota. The company aims to raise funds for a new manufacturing unit and working capital. The grey market premium is around 24%, indicating strong listing potential. Experts suggest it's a good short-term opportunity.

Prostarm Info Systems Ltd.'s IPO opens on May 27 with a price band of ₹95-₹105 per share, aiming to raise ₹168 crore. Proceeds will fund working capital, debt repayment, and acquisitions. The company reported a 18% rise in net profit to ₹22.8 crore and a 12% revenue increase to ₹258 crore in FY24. Listing is set for June 3, 2025.

Belrise Industries' Rs 2,150-crore IPO saw 9% subscription on Day 1, with NIIs booking 15% and retail investors 12%. The price band is Rs 85-90 per share, with the issue closing on May 23. The grey market premium is Rs 12, indicating a 13.33% premium. Brokerages recommend 'subscribe' citing strong market position and growth prospects. Listing is on May 28.

Schloss Bangalore, owner of The Leela luxury hotels, has set an IPO price band of ₹413-₹435 per share for its ₹3,500 crore offering. The IPO, reduced by 30%, will run May 26-28, with anchor bids starting May 23. Proceeds will primarily repay debt. The company operates 12 properties and has shown financial recovery. Listing is expected June 2, 2025.

The Leela, owned by Brookfield via Schloss Bangalore, has set its IPO price band at Rs 413-435 per share, valuing the company at Rs 14,527.16 crore at the upper end. The Rs 3,500-crore IPO, reduced from Rs 5,000 crore, includes a fresh issue of Rs 2,500 crore and an offer-for-sale of Rs 1,000 crore. Proceeds will primarily repay debt.

Belrise Industries' IPO opened today with a price band of ₹85-₹90 per share, aiming to raise ₹2,150 crore. The issue closes on 23 May, with allotment expected by 24 May and listing on 28 May. Shares trade at a ₹4 premium in the grey market. Analysts recommend a 'Subscribe – Long Term' rating, citing strong manufacturing and alignment with EV growth.

Aegis Vopak Terminals Ltd has set an IPO price band of Rs 223-235 per share, with the issue opening on May 26 and closing on May 28. The Rs 2,800 crore IPO will fund debt repayment and a cryogenic LPG terminal acquisition. The company reported Rs 154.02 crore revenue and Rs 25.78 crore net profit in FY24, operating 18 terminals across India.

Asset Reconstruction Company (India) Limited (ARCIL), India’s first asset reconstruction company, is preparing for an initial public offering (IPO) with a size of around Rs 1,000-1,500 crore. Backed by Avenue Capital Group (69.7% stake) and State Bank of India, ARCIL manages assets worth Rs 16,926 crore as of December 2024, focusing on acquiring SME and retail assets.

Integrity Infrabuild Developers' IPO listed at ₹100.80 on NSE SME, a 0.8% premium over the issue price of ₹100. The 12 crore IPO saw 2.17x subscription, with retail investors subscribing 2.26x and NIIs 2.09x. The company, a Gujarat-based civil contractor, aims to use funds for machinery and working capital.

Belrise Industries' IPO will open on May 21 and close on May 23, with a price band of ₹85-90 per share. It aims to raise ₹2,150 crore to repay debt and for general corporate purposes. Revenue grew 17.76% CAGR from FY22 to FY24, reaching ₹7,484 crore, while profit after tax was ₹311 crore in FY24. The grey market premium is ₹4.25, and Anand Rathi recommends a "Subscribe – Long Term" rating.

Belrise Industries Limited, an automotive component manufacturer, offers safety-critical systems and engineering solutions for various vehicles. Its product range includes chassis systems, polymer components, and suspension systems, catering to both electric and internal combustion engine vehicles. The company focuses on increasing content per vehicle and expanding in EVs and commercial vehicles.

Blue Water Logistics, a Hyderabad-based logistics company, will launch its SME IPO on May 27 with a price band of Rs 132-135 per share. It aims to raise Rs 40.5 crore to fund vehicle purchases, working capital, and corporate purposes. The IPO closes on May 29, with allotment by May 30 and trading starting June 3 on NSE Emerge.

Borana Weaves' IPO, priced at ₹205-216 per share, opens on May 20 and closes on May 22. The ₹145-crore issue involves 67.08 lakh shares to fund a new manufacturing unit, working capital, and corporate purposes. The company, incorporated in 2020, produces synthetic grey fabric. Listing on BSE and NSE is expected by May 27.

Victory Electric Vehicles International postponed its Rs 40.66-crore IPO, initially set to open on May 20, citing market conditions. The fixed-price issue of 56.47 lakh shares at Rs 72 each aimed to fund capital expenditures and working capital. This follows similar postponements by Wagons Learning and Rosmerta Digital Services, highlighting challenges in the current market environment.

Star Housing Finance Limited, a rural India-focused housing finance company, announced plans to list its equity shares on the National Stock Exchange (NSE), subject to regulatory approvals and eligibility criteria. Currently listed on BSE, the company aims to enhance visibility, liquidity, and investor base. CEO Kalpesh Dave emphasized the strategic goal of strengthening market presence.

Two mainboard IPOs are set to launch next week: Borana Weaves (May 20-22, price band Rs 205-216, aiming to raise Rs 144.89 crore) and Belrise Industries (May 21-23, price band Rs 85-90, targeting Rs 2,150 crore). Additionally, three SME IPOs—Victory Electric Vehicles, Dar Credit, and Unified Data-Tech—will open during the week, along with three NSE Emerge listings.

Groww, India's largest brokerage firm, has acquired wealth management startup Fisdom for $150 million in an all-cash deal. The move expands Groww's product offerings ahead of its planned IPO, for which it has raised $150 million from GIC as part of a larger pre-IPO funding round. This acquisition follows Groww's $7 billion valuation and aims to strengthen its position in a volatile market.

Integrity Infrabuild Developers IPO allotment : Integrity Infrabuild Developers' ₹12 crore SME IPO, priced at ₹100 per share, closed on May 15 with 2.17x subscription. Allotment is on May 16, listing on May 20. Proceeds will fund machinery, working capital, and corporate purposes. Grey market premium is ₹0, indicating a listing price of ₹100.

The National Stock Exchange of India (NSE) has become the largest unlisted company in India by the number of investors, surpassing 1 lakh shareholders. It reported a 7% YoY growth in net profit at Rs 2,650 crore for FY25, though revenue from operations declined 18% YoY to Rs 3,771 crore. NSE is progressing towards its IPO, having addressed SEBI's observations in its latest NOC request.

Pune-based Belrise Industries will launch its Rs 2,150-crore IPO on May 21, priced at Rs 85-90 per share. The issue, comprising a fresh issue, aims to reduce debt, with Rs 1,618.1 crore allocated for repayment. The company, a top player in the two-wheeler metal components segment, reported a 17.5% decline in profit to Rs 245.5 crore for the nine months ended December 2024.

Pune-based Belrise Industries plans to launch a Rs 2,150-crore IPO between May 21-23, with proceeds for debt reduction and corporate purposes. The company, serving major OEMs like Bajaj Auto and Hero MotoCorp, reported FY24 revenue of Rs 7,484.21 crore and PAT of Rs 310.88 crore. Axis Capital, Jefferies, HSBC, and SBI Capital Markets are advisors.

Dar Credit and Capital, a non-banking finance company, is launching its IPO on May 21, aiming to raise Rs 25.66 crore by issuing 42.76 lakh shares priced at Rs 57-60. The IPO closes on May 23. Half the shares are allocated to institutional buyers, 35% to retail investors, and the rest to non-institutional investors. The company seeks a valuation of Rs 85.66 crore.

Borana Weaves IPO price band has been fixed in the range of ₹205 to ₹216 per equity share of the face value of ₹10 for its upcoming public issue. Borana Weaves IPO date of subscription is from Tuesday, May 20 to Thursday, May 22. The allocation to anchor investors for Borana Weaves IPO is scheduled to take place on Monday, May 19. IPO floor price is 20.5 times the face value of the equity shares.

Axis Max Life Insurance plans to list its stock once the Insurance Laws Amendment Bill passes, simplifying ownership and transparency. Currently owned by Axis Bank and Max Financial, the insurer reported 20% growth in FY25 new business, targeting VNB margins of 24-25% and aiming to grow 300-400 basis points above the industry average.

Borana Weaves Ltd has set a price band of Rs 205-216 per share for its IPO, opening on May 20 and closing on May 22. The issue comprises 67.08 lakh shares, aiming to raise up to Rs 144.89 crore. Funds will be used to expand manufacturing in Gujarat and meet working capital needs. The company operates three units with a capacity of 233.28 million meters annually.

The Virtual Galaxy Infotech IPO allotment will be finalized on May 15. The subscription status reached 231.45 times. Investors can check their allotment status on the registrar's portal, Maashitla Securities. Shares will be credited to demat accounts on May 16, with listing on NSE SME set for May 19. The grey market premium is ₹87, indicating a strong listing.

The number of IPOs in 2025 has dropped 62% to 10, raising Rs 18,704 crore, compared to 27 IPOs raising Rs 24,437 crore in 2024. Average issue size has more than doubled to Rs 1,870 crore. Many 2025 IPOs are trading below issue prices, causing investor caution. Despite delays, the IPO pipeline remains strong with 80 companies filing draft prospectuses.

Tata Capital reported a 31% year-on-year surge in PAT to ₹1,000 crore for Q4 FY25, with revenues rising 50% to ₹7,478 crore. For FY25, PAT was ₹3,655 crore and revenues ₹28,313 crore. The company plans an IPO, potentially $2 billion, valuing it at $11 billion, marking India's largest financial sector IPO and complying with RBI's listing mandate for upper-layer NBFCs.

Dar Credit & Capital's IPO received 98.54x subscription, with bids worth over ₹1,800 crore. The ₹25.66 crore issue, priced at ₹57-60 per share, saw 30.15 crore shares bid for. Share allotment will be finalized by May 26, with trading on NSE Emerge starting May 28. Proceeds will enhance capital and fund corporate purposes.

Scoda Tubes, a Gujarat-based stainless-steel tubes and pipes manufacturer, has set a price band of Rs 130-140 per share for its Rs 220-crore IPO, opening on May 28 and closing on May 30. The fresh issue will fund production expansion, working capital, and corporate purposes. Shares will list on BSE and NSE by June 4.

Neptune Petrochemicals, a manufacturer of bitumen products and emulsions, will launch its Rs 73.2 crore IPO on May 28 with a price band of Rs 115-122 per share. The issue, closing on May 30, comprises 60 lakh fresh shares. Funds will be used for plant expansion (Rs 5.15 crore), office purchase (Rs 14.7 crore), and working capital (Rs 42 crore).

📌Leela Hotels IPO will open for public subscription on Monday, May 26, and will close on Wednesday, May 28. 📌Leela Hotels IPO price band has been set at ₹413 to ₹435 per share. 📌At the upper-end of the price band, Leela Hotels IPO size is ₹3,500 crore. 📌According to stock market observers, Leela Hotels IPO GMP today has risen to ₹15 per share.

The IPO frenzy around Borana Weaves is nearing its final act. After a 3 day bidding window between May 20 and May 22, investors are now eagerly waiting to find out if they have been allotted shares. The share allotment is expected to be finalised today, May 23, and there are three easy ways to check your allotment status, that is, through BSE, NSE, or KFin Technologies, the registrar for this IPO.

IPO of Belrise Industries continued to see strong interest from investors on Friday, May 23, the third and final day of public bidding. The ₹2,150-crore IPO of the company was subscribed nearly 6 times within the three days. NII overtook retail investors by booking their reserved portion by a whopping 20.23 times. In the grey market, shares of Belrise Industries are commanding a premium of ₹23.

Borana Weaves' ₹145-crore IPO, subscribed 149 times overall, will finalize share allotment on May 23. Retail investors subscribed 200 times, NIIs 237.42 times, and QIBs 87.2 times. Refunds and Demat transfers are set for May 26, with shares debuting on BSE and NSE on May 27. Proceeds will fund a new Surat facility and working capital.

Schloss Bangalore Ltd., operator of The Leela luxury hotels, will debut its IPO on May 26, priced at ₹413-₹435 per share, with a ₹3,500 crore issue. The IPO includes a fresh issue of ₹2,500 crore and an OFS of ₹1,000 crore. The minimum retail investment is ₹14,042 for 34 shares. The company aims to list on BSE and NSE by June 2, backed by Brookfield, with plans to expand its luxury portfolio.

Borana Weaves' IPO, open from 20 to 22 May 2025, saw a strong response with 29.46x subscription in two days. The grey market premium rose to ₹61. Retail, NII, and QIB portions were subscribed 77.16x, 53.07x, and 1.76x, respectively. Experts recommend subscribing, citing strong fundamentals, high capacity utilization, and growth in synthetic textiles.

Shiprocket has filed draft papers with SEBI for an IPO aiming to raise ₹2,000-2,500 crore, with a fresh share sale of ₹1,000-1,200 crore. Proceeds will fund product development, tech upgrades, and logistics expansion. Despite a net loss of ₹595 crore in FY24, the company reduced cash burn by 50% and saw 21% revenue growth to ₹1,316 crore, with emerging businesses contributing 20% of revenue.

IPO of the inverter maker, Prostarm Info Systems, will open for subscription next week on May 27, 2025. The public offer will close for bidding on May 29. With this, Prostarm Info Systems will be the third mainboard IPO to hit Dalal Street next week, alongside Aegis Vopak Terminals and Schloss Bangalore (The Leela). The price band for Prostarm Info Systems IPO has been fixed at ₹95-105 per share.

Aegis Vopak Terminals' ₹2,800-crore Initial Public Offering (IPO) will open on May 26 at ₹223-235 per share, valuing the company at ₹26,038 crore. Proceeds will fund debt repayment and a terminal acquisition. Revenue rose to ₹154 crore in FY24, with a net profit of ₹25.78 crore. Listing is set for June 2 on BSE and NSE.

Borana Weaves' Rs 145-crore IPO saw strong demand, subscribed over 12.65 times on Day 2, with retail investors booking 37 times their quota. The company aims to raise funds for a new manufacturing unit and working capital. The grey market premium is around 24%, indicating strong listing potential. Experts suggest it's a good short-term opportunity.

Prostarm Info Systems Ltd.'s IPO opens on May 27 with a price band of ₹95-₹105 per share, aiming to raise ₹168 crore. Proceeds will fund working capital, debt repayment, and acquisitions. The company reported a 18% rise in net profit to ₹22.8 crore and a 12% revenue increase to ₹258 crore in FY24. Listing is set for June 3, 2025.

Belrise Industries' Rs 2,150-crore IPO saw 9% subscription on Day 1, with NIIs booking 15% and retail investors 12%. The price band is Rs 85-90 per share, with the issue closing on May 23. The grey market premium is Rs 12, indicating a 13.33% premium. Brokerages recommend 'subscribe' citing strong market position and growth prospects. Listing is on May 28.

Schloss Bangalore, owner of The Leela luxury hotels, has set an IPO price band of ₹413-₹435 per share for its ₹3,500 crore offering. The IPO, reduced by 30%, will run May 26-28, with anchor bids starting May 23. Proceeds will primarily repay debt. The company operates 12 properties and has shown financial recovery. Listing is expected June 2, 2025.

The Leela, owned by Brookfield via Schloss Bangalore, has set its IPO price band at Rs 413-435 per share, valuing the company at Rs 14,527.16 crore at the upper end. The Rs 3,500-crore IPO, reduced from Rs 5,000 crore, includes a fresh issue of Rs 2,500 crore and an offer-for-sale of Rs 1,000 crore. Proceeds will primarily repay debt.

Belrise Industries' IPO opened today with a price band of ₹85-₹90 per share, aiming to raise ₹2,150 crore. The issue closes on 23 May, with allotment expected by 24 May and listing on 28 May. Shares trade at a ₹4 premium in the grey market. Analysts recommend a 'Subscribe – Long Term' rating, citing strong manufacturing and alignment with EV growth.

Aegis Vopak Terminals Ltd has set an IPO price band of Rs 223-235 per share, with the issue opening on May 26 and closing on May 28. The Rs 2,800 crore IPO will fund debt repayment and a cryogenic LPG terminal acquisition. The company reported Rs 154.02 crore revenue and Rs 25.78 crore net profit in FY24, operating 18 terminals across India.

Asset Reconstruction Company (India) Limited (ARCIL), India’s first asset reconstruction company, is preparing for an initial public offering (IPO) with a size of around Rs 1,000-1,500 crore. Backed by Avenue Capital Group (69.7% stake) and State Bank of India, ARCIL manages assets worth Rs 16,926 crore as of December 2024, focusing on acquiring SME and retail assets.

Integrity Infrabuild Developers' IPO listed at ₹100.80 on NSE SME, a 0.8% premium over the issue price of ₹100. The 12 crore IPO saw 2.17x subscription, with retail investors subscribing 2.26x and NIIs 2.09x. The company, a Gujarat-based civil contractor, aims to use funds for machinery and working capital.

Belrise Industries' IPO will open on May 21 and close on May 23, with a price band of ₹85-90 per share. It aims to raise ₹2,150 crore to repay debt and for general corporate purposes. Revenue grew 17.76% CAGR from FY22 to FY24, reaching ₹7,484 crore, while profit after tax was ₹311 crore in FY24. The grey market premium is ₹4.25, and Anand Rathi recommends a "Subscribe – Long Term" rating.

Belrise Industries Limited, an automotive component manufacturer, offers safety-critical systems and engineering solutions for various vehicles. Its product range includes chassis systems, polymer components, and suspension systems, catering to both electric and internal combustion engine vehicles. The company focuses on increasing content per vehicle and expanding in EVs and commercial vehicles.

Blue Water Logistics, a Hyderabad-based logistics company, will launch its SME IPO on May 27 with a price band of Rs 132-135 per share. It aims to raise Rs 40.5 crore to fund vehicle purchases, working capital, and corporate purposes. The IPO closes on May 29, with allotment by May 30 and trading starting June 3 on NSE Emerge.

Borana Weaves' IPO, priced at ₹205-216 per share, opens on May 20 and closes on May 22. The ₹145-crore issue involves 67.08 lakh shares to fund a new manufacturing unit, working capital, and corporate purposes. The company, incorporated in 2020, produces synthetic grey fabric. Listing on BSE and NSE is expected by May 27.

Victory Electric Vehicles International postponed its Rs 40.66-crore IPO, initially set to open on May 20, citing market conditions. The fixed-price issue of 56.47 lakh shares at Rs 72 each aimed to fund capital expenditures and working capital. This follows similar postponements by Wagons Learning and Rosmerta Digital Services, highlighting challenges in the current market environment.

Star Housing Finance Limited, a rural India-focused housing finance company, announced plans to list its equity shares on the National Stock Exchange (NSE), subject to regulatory approvals and eligibility criteria. Currently listed on BSE, the company aims to enhance visibility, liquidity, and investor base. CEO Kalpesh Dave emphasized the strategic goal of strengthening market presence.

Two mainboard IPOs are set to launch next week: Borana Weaves (May 20-22, price band Rs 205-216, aiming to raise Rs 144.89 crore) and Belrise Industries (May 21-23, price band Rs 85-90, targeting Rs 2,150 crore). Additionally, three SME IPOs—Victory Electric Vehicles, Dar Credit, and Unified Data-Tech—will open during the week, along with three NSE Emerge listings.

Groww, India's largest brokerage firm, has acquired wealth management startup Fisdom for $150 million in an all-cash deal. The move expands Groww's product offerings ahead of its planned IPO, for which it has raised $150 million from GIC as part of a larger pre-IPO funding round. This acquisition follows Groww's $7 billion valuation and aims to strengthen its position in a volatile market.

Integrity Infrabuild Developers IPO allotment : Integrity Infrabuild Developers' ₹12 crore SME IPO, priced at ₹100 per share, closed on May 15 with 2.17x subscription. Allotment is on May 16, listing on May 20. Proceeds will fund machinery, working capital, and corporate purposes. Grey market premium is ₹0, indicating a listing price of ₹100.

The National Stock Exchange of India (NSE) has become the largest unlisted company in India by the number of investors, surpassing 1 lakh shareholders. It reported a 7% YoY growth in net profit at Rs 2,650 crore for FY25, though revenue from operations declined 18% YoY to Rs 3,771 crore. NSE is progressing towards its IPO, having addressed SEBI's observations in its latest NOC request.

Pune-based Belrise Industries will launch its Rs 2,150-crore IPO on May 21, priced at Rs 85-90 per share. The issue, comprising a fresh issue, aims to reduce debt, with Rs 1,618.1 crore allocated for repayment. The company, a top player in the two-wheeler metal components segment, reported a 17.5% decline in profit to Rs 245.5 crore for the nine months ended December 2024.

Pune-based Belrise Industries plans to launch a Rs 2,150-crore IPO between May 21-23, with proceeds for debt reduction and corporate purposes. The company, serving major OEMs like Bajaj Auto and Hero MotoCorp, reported FY24 revenue of Rs 7,484.21 crore and PAT of Rs 310.88 crore. Axis Capital, Jefferies, HSBC, and SBI Capital Markets are advisors.

Dar Credit and Capital, a non-banking finance company, is launching its IPO on May 21, aiming to raise Rs 25.66 crore by issuing 42.76 lakh shares priced at Rs 57-60. The IPO closes on May 23. Half the shares are allocated to institutional buyers, 35% to retail investors, and the rest to non-institutional investors. The company seeks a valuation of Rs 85.66 crore.

Borana Weaves IPO price band has been fixed in the range of ₹205 to ₹216 per equity share of the face value of ₹10 for its upcoming public issue. Borana Weaves IPO date of subscription is from Tuesday, May 20 to Thursday, May 22. The allocation to anchor investors for Borana Weaves IPO is scheduled to take place on Monday, May 19. IPO floor price is 20.5 times the face value of the equity shares.

Axis Max Life Insurance plans to list its stock once the Insurance Laws Amendment Bill passes, simplifying ownership and transparency. Currently owned by Axis Bank and Max Financial, the insurer reported 20% growth in FY25 new business, targeting VNB margins of 24-25% and aiming to grow 300-400 basis points above the industry average.

Borana Weaves Ltd has set a price band of Rs 205-216 per share for its IPO, opening on May 20 and closing on May 22. The issue comprises 67.08 lakh shares, aiming to raise up to Rs 144.89 crore. Funds will be used to expand manufacturing in Gujarat and meet working capital needs. The company operates three units with a capacity of 233.28 million meters annually.

The Virtual Galaxy Infotech IPO allotment will be finalized on May 15. The subscription status reached 231.45 times. Investors can check their allotment status on the registrar's portal, Maashitla Securities. Shares will be credited to demat accounts on May 16, with listing on NSE SME set for May 19. The grey market premium is ₹87, indicating a strong listing.

The number of IPOs in 2025 has dropped 62% to 10, raising Rs 18,704 crore, compared to 27 IPOs raising Rs 24,437 crore in 2024. Average issue size has more than doubled to Rs 1,870 crore. Many 2025 IPOs are trading below issue prices, causing investor caution. Despite delays, the IPO pipeline remains strong with 80 companies filing draft prospectuses.

Tata Capital reported a 31% year-on-year surge in PAT to ₹1,000 crore for Q4 FY25, with revenues rising 50% to ₹7,478 crore. For FY25, PAT was ₹3,655 crore and revenues ₹28,313 crore. The company plans an IPO, potentially $2 billion, valuing it at $11 billion, marking India's largest financial sector IPO and complying with RBI's listing mandate for upper-layer NBFCs.