The IPO market is gaining momentum again, with two new mainboard initial public offerings (IPOs) scheduled to open for subscription next week. Alongside, three fresh IPOs will launch in the small and medium enterprise (SME) segment, offering more investment opportunities.
According to Vijay Kuppa, CEO of InCred Money, “After raising a record ₹1.6 lakh crore in 2024, the Indian IPO market is now facing increased volatility in early 2025.”
In addition to the new IPO launches, investors can also expect the stock market debut of two recently closed IPOs: Integrity Infrabuild Developers Limited and Accretion Pharmaceuticals Limited.
Upcoming IPOs
Next week, several IPOs will open for subscription across the mainboard and SME segments. Here are the details:
Borana Weaves Limited IPO
The Borana Weaves IPO will open for subscription on May 20 and close on May 22. It is a book-building issue worth ₹144.89 crore and consists entirely of a fresh issue of 0.67 crore shares. The price band is set between ₹205 and ₹216 per share. Beeline Capital Advisors Pvt Ltd is the book-running lead manager, while Kfin Technologies Limited serves as the registrar.
Belrise Industries Limited IPO
Belrise Industries IPO subscription starts on May 21 and ends on May 23. This book-building IPO has an issue size of ₹2,150 crore, with a fresh issue of 23.89 crore shares. The price band is ₹85 to ₹90 per share. The IPO is managed by Axis Capital Limited, HSBC Securities & Capital Markets Pvt Ltd, Jefferies India Private Limited, and SBI Capital Markets Limited. Link Intime India Private Ltd is the registrar.
Victory Electric Vehicles IPO
Victory Electric Vehicles IPO opens for subscription on May 20 and closes on May 23. This SME IPO is a fixed-price issue valued at ₹40.66 crore, comprising a fresh issue of 56.47 lakh shares. The fixed price per share is ₹72. Corpwis Advisors Private Limited is the book-running lead manager, and Maashitla Securities Private Limited is the registrar.
Dar Credit and Capital IPO
The Dar Credit and Capital IPO will be available for subscription from May 21 to May 23. This SME book-building IPO has an issue size of ₹25.66 crore, consisting of a fresh issue of 42.76 lakh shares. The price band ranges from ₹57 to ₹60 per share. GYR Capital Advisors Private Limited is the lead manager, with Kfin Technologies Limited as the registrar.
Unified Data-Tech IPO
Unified Data-Tech IPO will open for subscription on May 22 and close on May 26. It is a book-building SME IPO with an issue size of ₹144.47 crore, entirely an offer for sale of 52.92 lakh shares. The price band is set between ₹260 and ₹273 per share. Hem Securities Limited manages the issue, while Kfin Technologies Limited acts as the registrar.
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New Listings
The following are the upcoming new listings:
Virtual Galaxy Infotech IPO
The allotment for Virtual Galaxy Infotech IPO was finalized on Thursday, May 15. This IPO is set to be listed on the NSE SME platform on May 19.
Integrity Infrabuild Developers IPO
The allotment for Integrity Infrabuild Developers IPO was finalized on Friday, May 16. The IPO will be listed on NSE SME, with a tentative listing date of Tuesday, May 20.
Accretion Pharmaceuticals IPO
The allotment for Accretion Pharmaceuticals IPO is expected to be finalized on Monday, May 19. The IPO will be listed on NSE SME, with a tentative listing date scheduled for Wednesday, May 21.
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Upcoming IPOs FAQs
Q.1. When do the upcoming IPOs open for subscription?
Ans. The upcoming IPOs open for subscription between May 20 and May 26, depending on the specific company.
Q.2. What is the price band for Borana Weaves IPO?
Ans. Borana Weaves IPO price band is set between ₹205 and ₹216 per share.
Q.3. Which IPOs are launching in the SME segment next week?
Ans. Victory Electric Vehicles, Dar Credit and Capital, and Unified Data-Tech IPOs will launch in the SME segment next week.
Q.4. When will Virtual Galaxy Infotech IPO be listed on NSE SME?
Ans. Virtual Galaxy Infotech IPO is scheduled to be listed on NSE SME on May 19.
Q.5. Who are the lead managers for Belrise Industries IPO?
Ans. Axis Capital, HSBC Securities, Jefferies India, and SBI Capital Markets are the lead managers for Belrise Industries IPO.
