Four main-board IPOs to hit D-Street next week to garner Rs 6,600 crore

New Delhi: The initial public offering (IPO) lane will be busy next week, with four main-line companies, including Leela Palaces Hotels & Resorts operator Schloss Bangalore Ltd and Aegis Vopak Terminals tapping the primary market to raise over Rs 6,600 crore collectively.

Other public issues scheduled for the week are Prostar Info Systems and Scoda Tubes.

Additionally, D-Street will witness the debut of two firms, including Borana Weaves and Belrise Industries, expected to list on May 28 and May 29, respectively.

Overall, there has been a slowdown in new listings as only 12 firms came out with their IPOs in 2025 so far owing to volatility in the equity market due to a combination of global and domestic factors.

This shift followed a remarkable 2024, in which 91 maiden public issues collectively raised Rs 1.6 lakh crore, driven by robust retail participation, a resilient economy, and booming private capital expenditure.

Despite the slowdown, an impressive number of documents are getting filed and waiting for market conditions to stabilise.

According to Axis Capital IPO Market Update May 2025, 57 companies have received final observations from the markets regulator, and another 74 firms are awaiting Sebi's final observations, which is necessary to float public issues.

These companies planning to raise funds through IPOs are staggered across sectors like solar/renewables, co-working spaces, pharma-healthcare, cable-wire-electrical, tubes-pipes, manufacturing, chemicals, realty, Indian arms of global MNCs, and even film entertainment, among others.

For Schloss Bangalore, the company's Rs 3,500-crore IPO is a combination of a fresh issue of equity shares worth Rs 2,500 crore and an offer for sale (OFS) of stocks valued at Rs 1,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd.

Schloss Bangalore, which is backed by Brookfield Asset Management, plans to use the proceeds of the fresh issue to pay loans availed by the company and its subsidiaries and for general corporate purposes.

The issue, with a price band of Rs 413-435 per share, will be open for public subscription during May 26-28.

Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd, aims to raise Rs 2,800 crore from a fresh issue of equity shares.

Proceeds worth Rs 2,016 crore will be used for payment of debt, Rs 671.30 crore to fund capital expenditure for the acquisition of a cryogenic LPG terminal at Mangalore and the remaining amount will be allocated for general corporate purposes.

The IPO, with a price band of Rs 223 to Rs 235 per share, will open for public subscription on May 26 and conclude on May 28.

Stainless steel tubes and pipes manufacturer Scoda Tubes' IPO is entirely a fresh issue of equity shares aggregating up to Rs 220 crore with no OFS component.

The IPO will open for public subscription on May 28 and conclude on May 30.

The one-day bidding for anchor investors will open on May 27. The Gujarat-based company has fixed a price band of Rs 130-140 per share for its IPO.

Proceeds of the IPO will be used to expand the production capacity of seamless and welded tubes and pipes, working capital requirements and general corporate purposes.

Integrated power solution company Prostarm Info Systems' IPO comprises a fresh issue of 1.6 crore equity shares with a face value of Rs 10 through the book-building route.

The Rs 168-crore issue will open for subscription on May 27 and conclude on May 29. The company has set a price band of Rs 95-105 per share.

Prostarm Info Systems intends to utilise Rs 72.50 crore of the total IPO proceeds towards funding capital requirements of the company, Rs 17.95 crore for payment of debt and the remaining capital will be used for achieving inorganic growth through unidentified acquisitions and other strategic initiatives as well as for general corporate purposes.

The equity shares of these four companies are listed on the BSE and NSE.