Upcoming IPOs: 9 companies to raise nearly ₹7,000cr this week
What's the story
India's primary market is all set for a busy week, with nine Initial Public Offerings (IPOs) scheduled to open for subscription. The offerings cover both the mainboard and SME segments. Among them, Aegis Vopak Terminals and Schloss Bangalore are the two mainboard IPOs. They together hope to raise over ₹6,300 crore. The other seven are SME IPOs aimed at retail and niche institutional investors.
Large IPOs
Aegis Vopak and Schloss Bangalore to open tomorrow
Schloss Bangalore, which runs The Leela luxury hotels, is launching a ₹3,500 crore public issue at ₹413-435 per share price band. Simultaneously, Aegis Vopak Terminals, a storage and logistics firm will also open its IPO on May 26. It plans to raise ₹2,800 crore at ₹223-235 per share price band. Both these large IPOs will close on May 28 and list on the BSE and NSE.
SME offerings
SME IPOs to dominate mid-week
The mid-week will witness a flurry of SME IPOs. Prostarm Info Systems, which offers energy storage and power conditioning equipment, is opening its IPO on May 27. It seeks to raise ₹168 crore. Blue Water Logistics with a ₹40.50 crore issue and Astonea Labs with a ₹37.67 crore issue will also open on May 27, focusing on coastal logistics and pharmaceuticals, respectively.
Sector diversification
Scoda Tubes, N R Vandana Tex Industries, and Neptune Petrochemicals
Three more SME IPOs are set to open on May 28: Scoda Tubes (₹220 crore), N R Vandana Tex Industries (₹27.89 crore), and Neptune Petrochemicals (₹73.20 crore). The offerings cover sectors including stainless steel tubes, textiles, and industrial chemicals. Nikita Papers will also open its IPO on May 27 with a target of raising ₹67.54 crore from investors keen on paper manufacturing.