- Four mainboard IPOs open for subscription from Feb 23 to 27 in sectors like renewable energy and engineering
- Clean Max Enviro targets Rs 3,100 crore with a price band of Rs 1,000-1,053 and listing on March 2
- Shree Ram Twistex aims to raise Rs 110 crore with a price band of Rs 95-104, listing scheduled for March 2
Primary market investors are expected to see hectic activity with four mainboard IPOs opening for subscription next week, starting Feb. 23. Four initial public offerings (IPO) are also slated to be launched during the week in the small and medium enterprise (SME) segment.
Clean Max Enviro Energy Solutions, Shree Ram Twistex, PNGS Reva Diamond Jewellery and Omnitech Engineering are among the companies scheduled to launch their public offers in the mainboard segment.
The IPO market has witnessed subdued activity so far this year, with the launch of only a few mainboard and SME issues. However, the IPO pipeline in 2026 seems robust, with more than 200 companies gearing up to raise an estimated Rs 2.5 lakh crore. In 2025, the mainboard IPOs mobilised a record Rs 1.76 lakh crore from the primary market.
Here's a look at the latest GMP and key details of the IPOs set to be launched next week.
Mainboard IPOs Next Week
Clean Max Enviro Energy Solutions IPO
The Clean Max Enviro Energy Solutions IPO will remain open for subscription from Feb. 23 to Feb. 25. It is one of India's leading providers of renewable energy solutions for commercial and industrial clients.
It aims to raise over Rs 3,000 crore from the IPO. The IPO comprises a fresh issue of 1.14 crore shares worth Rs 1,200 crore and an offer-for-sale (OFS) of 1.8 crore shares, amounting to Rs 1,900 crore.
According to InvestorGain, the GMP for the Clean Max Enviro Energy Solutions IPO stood at Rs 4 on Feb. 22. It indicates a listing price of Rs 1,057 apiece at a premium of 0.38% on the upper limit of the price band.
- Offer Size: Rs 3,100 crore
- Price Band: Rs 1,000 to Rs 1,053
- Listing on: NSE, BSE
- Lot Size: 14 shares
- Listing Date: March 2
ALSO READ: Clean Max Enviro Energy Solutions IPO Opens On Feb. 23: Check GMP, Offer Size, Price Band And More
Shree Ram Twistex IPO
The Shree Ram Twistex IPO is a book-built issue of over Rs 100 crore. Investors can bid for shares during the IPO subscription window from Feb. 23 to Feb. 25. Shree Ram Twistex specialises in cotton yarn production.
The IPO entirely comprises a fresh issue of 1.06 crore shares.
The GMP for the Shree Ram Twistex IPO stood at Rs 5 per share as on Feb. 22, according to InvestorGain. The latest GMP indicates a listing price of Rs 109 apiece, at a premium of 4.81% compared to the upper limit of the issue price.
- Offer Size: Rs 110.24 crore
- Price Band: Rs 95 to Rs 104
- Listing on: NSE, BSE
- Lot Size: 144 shares
- Listing Date: March 2
ALSO READ: Shree Ram Twistex IPO: GMP Signals 5% Listing Gain Ahead of Feb. 23 Opening
PNGS Reva Diamond Jewellery IPO
PNGS Reva Diamond Jewellery aims to raise nearly Rs 400 crore through its IPO. The mainboard issue consists of only a fresh issuance of 98 lakh shares. The IPO will remain open for subscription from Feb. 24-26.
The company is primarily involved in the jewellery business.
According to InvestorGain, the GMP for the PNGS Reva Diamond Jewellery IPO stood at Rs 17 on Feb. 22. The latest GMP indicates a listing price of Rs 403 apiece at a premium of 4.40% over the upper limit of the IPO price band.
- Offer Size: Rs 380 crore
- Price Band: Rs 367 to Rs 386
- Listing On: NSE, BSE
- Lot Size: 32 shares
- Listing Date: March 4
ALSO READ: Gaudium IVF IPO GMP Signals 11% Listing Gain
Omnitech Engineering IPO
Omnitech Engineering is a manufacturer of high-precision engineered components and assemblies. The company is set to raise nearly Rs 600 crore through its public offer.
The IPO comprises a fresh issue of 1.84 crore shares, worth Rs 418 crore, and an offer-for-sale (OFS) of 73 lakh shares, amounting to Rs 165 crore.
Investors can participate in the IPO subscription from Feb.25 to Feb. 27.
The GMP for the Omnitech Engineering IPO stood at Rs 15 per share on Feb. 22, as per InvestorGain. The latest GMP indicates a listing price of Rs 242 apiece, at a premium of 6.61% compared to the upper limit of the issue price.
- Offer Size: Rs 583 crore
- Price Band: Rs 216 to Rs 227
- Listing On: NSE, BSE
- Lot Size: 66 shares
- Listing Date: March 5
SME IPOs Next Week
Kiaasa Retail IPO
The subscription window for Kiaasa Retail IPO will remain open from Feb. 23 to Feb. 25. It will be a book-built issue worth nearly Rs 70 crore. The SME issue comprises entirely a fresh issue of 55 lakh shares.
Kiaasa Retail is a women's ethnic wear brand based out of Ghaziabad, Uttar Pradesh.
According to InvestorGain, the GMP for the Kiaasa Retail IPO was nil on Feb. 22. It indicates a flat listing for the offer.
- Offer Size: Rs 69.72 crore
- Price Band: Rs 121 to Rs 127
- Listing On: BSE SME
- Lot Size: 1,000 shares
- Listing Date: March 2
Mobilise App Lab IPO
Investors can participate in the Mobilise App IPO bidding from Feb. 23 to Feb. 25. The company is set to raise Rs 20 crore through an entirely fresh issue of 25 lakh shares.
The company is a provider of IT solutions.
According to InvestorGain, the GMP for the Mobilise App Lab IPO was nil on Feb. 22. It indicates a flat listing for the offer.
- Offer Size: Rs 20.10 crore
- Price Band: Rs 75 to Rs 80
- Listing On: NSE SME
- Lot Size: 1,600 shares
- Listing Date: March 2
Accord Transformer & Switchgear IPO
The subscription window for the Accord Transformer & Switchgear IPO will remain open from Feb. 23 to Feb. 25.
It will be a book-built issue of over Rs 25 crore, comprising a fresh issue of 56 lakh shares. The company designs and manufactures electrical power and distribution devices.
The GMP for the Accord Transformer & Switchgear IPO stood at Rs 17 per share on Feb. 22, as per InvestorGain. The latest GMP indicates a listing price of Rs 63 apiece, at a premium of 36.96% compared to the upper limit of the issue price.
- Offer Size: Rs 25.59 crore
- Price Band: Rs 43 to Rs 46
- Listing On: BSE SME
- Lot Size: 3,000 shares
- Listing Date: March 2
Yaap Digital IPO
The Yaap Digital IPO will remain open for subscription from Feb. 25 to Feb. 27. The company is gearing up to raise over Rs 80 crore through an entirely fresh issue.
Yaap Digital is a provider of digital marketing solutions. According to InvestorGain, the GMP for the Yaap Digital IPO was nil on Feb. 22. It indicates a flat listing for the offer.
Offer Size: Rs 80.11 crore
- Price Band: Rs 138 to Rs 145
- Listing On: NSE SME
- Listing Date: March 5
Note: GMP does not represent official data and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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