Mumbai, July 27, 2025 – The Indian primary market is bracing for its busiest week in months, with 14 initial public offerings (IPOs) set to open for subscription starting July 28. These offerings — five from the mainboard and nine from the SME segment — aim to raise over ₹7,300 crore, including ₹7,008 crore from the mainboard.
Mainboard Highlights:
Among the key mainboard IPOs, Laxmi India Finance, a non-banking financial company, will open its ₹254-crore issue on July 29 with a price band of ₹150–158 per share. On the same day, security and surveillance firm Aditya Infotech (CP Plus brand) will launch its ₹1,300-crore IPO in the ₹640–675 range.
Other mainboard entrants include:
- National Securities Depository Ltd (NSDL), launching a ₹4,011.6 crore offer-for-sale on July 30
- Sri Lotus Developers & Realty, targeting ₹792 crore
- M&B Engineering, opening a ₹650-crore issue with a ₹366–385 price band on July 30
SME Segment:
Nine SME IPOs are scheduled to open this week. Rajkot-based Umiya Mobile and Repono will kick off the segment on July 28, seeking to raise ₹24.88 crore and ₹26.68 crore, respectively. Kaytex Fabrics opens on July 29 with a ₹69.81-crore issue.
On July 30, Takyon Networks (₹20.5 crore), Mehul Colours (₹21.66 crore), and B D Industries Pune (₹45.36 crore) will open for subscription. Renol Polychem and Cash Ur Drive Marketing follow on July 31, raising ₹25.77 crore and ₹60.79 crore. The final SME IPO of the week, Flysbs Aviation, opens on August 1.
All 14 IPOs will have a standard three-day subscription window.
Ongoing and Closing IPOs:
Brigade Hotel Ventures and Shanti Gold International, both launched last week, will close on July 28 and 29, respectively. SME IPOs from Patel Chem Specialities, Shree Refrigerations, and Sellowrap Industries remain open until July 29.
Upcoming Listings:
Twelve companies are scheduled for market debut next week. Among the mainboard listings, Indiqube Spaces and GNG Electronics will list on July 30, followed by Brigade Hotel Ventures on July 31 and Shanti Gold International on August 1.
In the SME segment, Savy Infra & Logistics and Swastika Castal will debut on July 28, Monarch Surveyors & Engineering Consultants on July 29, and TSC India on July 30. Patel Chem Specialities, Shree Refrigerations, and Sellowrap Industries will be listed on August 1.
Grey Market Trends:
According to market observers, GNG Electronics is trading at a 40% premium and Shanti Gold at around 19% in the unofficial grey market. Indiqube Spaces and Brigade Hotel Ventures saw modest premiums of 2% and 4–5%, respectively.
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