After a dry spell at the start to 2025, the bustle is back in the primary market as the six mainboard companies are set to open offerings this month.
This includes Schloss Bangalore, the owner of luxury hotel chain The Leela, along with others that are set to float their IPOs this month to collectively raise over Rs 11,000 crore, investment banking sources said on Monday.
Among the six entities preparing for their IPOs, Borana Weaves and Belrise Industries are scheduled to launch their respective public issues this week. Borana Weaves is set to float its Rs 144-crore IPO on May 20, while Belrise Industries, based in Pune, will open its Rs 2,150-crore IPO on May 21.
The remaining four companies — Schloss Bangalore Ltd, which operates the Leela Palaces Hotels & Resorts, Aegis Vopak Terminals, Arisinfra Solutions Ltd, and Scoda Tubes — are anticipated to file their IPO prospectuses in the upcoming week. Furthermore, the investment banking sources indicated that these firms would announce their price bands within this week. The six companies are expected to raise a substantial amount of Rs 11,669 crore from the market.
The rush of new listings had experienced a slowdown, with only 10 firms having launched their IPOs in 2025 so far. This moderation is largely attributed to the volatility observed in the equity market, influenced by a combination of both global and domestic economic factors. This dip in the number of launches follows a remarkable year in 2024, during which 91 initial public issues collectively raised Rs 1.6 lakh crore. This significant activity was propelled by robust participation from retail investors, a resilient domestic economy, and a surge in private capital expenditure.
Despite the recent deceleration in IPO launches, a considerable number of companies have filed their draft documents and are awaiting more stable market conditions to proceed with their public offerings. According to the Axis Capital IPO Market Update for May 2025, 57 companies have already received final observations from the SEBI, while an additional 74 firms are awaiting SEBI's final observations, a prerequisite for floating their public issues.
Companies that are planning to raise funds through IPOs spans across a wide array of sectors, including solar and renewable energy, co-working spaces, pharmaceuticals and healthcare, cable, wire, and electrical products, tubes and pipes, manufacturing, chemicals, real estate, Indian subsidiaries of global multinational corporations, and even film entertainment, among others.
Specifically regarding Schloss Bangalore, the company's proposed IPO is structured as a combination of a fresh issue of equity shares valued at Rs 3,000 crore and an offer for sale of existing shares worth Rs 2,000 crore by its promoter, Project Ballet Bangalore Holdings Ltd.
Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd., aims to raise Rs 3,500 crore through a fresh issue of equity shares. ArisInfra Solutions Ltd, a technology-driven provider of construction materials, plans to raise Rs 600 crore through its initial share sale.
Lastly, Scoda Tubes, based in Gujarat, will have an IPO entirely comprising a fresh issue of equity shares aggregating up to Rs 275 crore.
(With PTI inputs)
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