Upcoming IPOs: Two SME Issues To Open This Week

The coming week has a subdued forecast when it comes to initial public offerings with only two small and medium enterprises opening their IPOs. There are no mainboard IPOs.

The two SME IPOs, to be launched by Accretion Pharmaceuticals Ltd. and Integrity Infrabuild Developers Ltd., will open on Tuesday and Wednesday, respectively.

The IPO market has displayed caution amid the tensions between India and Pakistan, which also caused the stock market to end in the red on Friday.

• IPO opens: May 13

• IPO closes: May 15

• Issue size: 12 lakh shares (aggregating up to Rs 12 crore)

• Fresh issue: Rs 12 crore

• Tentative allotment date: May 16

• Tentative Listing date:  May 19

• Face value: Rs 10 per share

• Lot size: 1,200 shares

• Issue type: Fixed Price IPO

• Listing platform: BSE SME

Integrity Infrabuild Developers Ltd., a class-A civil contractor licensed by the government of Gujarat, focuses on executing government construction projects within the state.

To further its reach in Gujarat's construction industry, the company frequently utilises subcontracting.

As of March 31, 2025, Integrity Infrabuild holds ongoing contracts worth a total of Rs 205.98 crore. Out of this total, Rs 42.91 crore worth of work has been completed, leaving a substantial order book valued at Rs 163.07 crore.

• IPO opens:  May 14

• IPO closes: May 16

• Issue size: 29,46,000 shares (aggregating up to Rs 29.75 Crore)

• Fresh issue: Rs 29.75 Crore

• Tentative allotment date: May 19

• Tentative Listing date: May 21

• Face value: Rs 10 per share

• Lot size: 1,200 shares

• Issue type: Book building IPO

• Listing platform: NSE SME

Accretion Pharmaceuticals Ltd. is a pharmaceutical company involved in the production and distribution of various healthcare products, including tablets and capsules.

In addition to its own product line, the company provides contract manufacturing services. Accretion Pharmaceuticals' manufacturing and marketing activities cover a broad range of pharmaceutical formulations, such as tablets, capsules, oral liquids, external preparations (ointments, creams, gels, lotions, medicated shampoos, mouthwashes, dusting powders), and oral powders (in sachet and dry syrup forms).