Activity is surging in the Indian IPO market this week as companies across different verticals attract investors’ attention. During this week, many IPOs are opening for subscription, listing, or making new announcements, which shows the strong primary market sentiment.
Virtual Galaxy Infotech IPO Overwhelming Response
Virtual Galaxy Infotech, an IT services and consulting company from Maharashtra, captured the market’s attention with its IPO, which closed with overwhelming response. The issue was subscribed to over two hundred times, and demand was well over anticipated. This company intended to issue 65.7 lakh shares at the rate of ₹135-142 per share with an expected raise of ₹93.29 crore. The grey market premium currently stands at an impressive 53%, indicating high expectations for listing gains. Shares will reportedly debut on the NSE SME platform on May 19.
Borana Weaves IPO Scheduled To Open
Sewn product manufacturer, Borana Weaves, will open its IPO worth ₹145 crores for public subscription on May 20. The share price is set to range between ₹205 and ₹216, and the anchor portion will be opened for bidding on May 19. There seems to be some hype surrounding the IPO in the grey market, where the premium suggests possible listing gains of around 27%. The proceeds are to be used for business expansion and working capital.
Belrise Industries Ltd Initiates Big IPO
Belrise Industries, an auto parts manufacturer, will execute its IPO of ₹2,150 crores between May 21 and May 23. The share price is set to a range of ₹85-90 per share. From the total proceeds, ₹1,618 crores will be allocated for repaying debts, which will improve the balance sheet. The IPO will be listed on May 28, and the investor response to the big offer will be critical for the market watchers.
Dar Credit and Capital IPO Targets SME Investors
A financial service company, Dar Credit and Capital, is set to open its IPO worth ₹26 crores on May 21, selling 42.76 lakh shares to the public. The issue has already created a buzz in the grey market, boasting a 20% premium on the listing. They want to place the stock on the NSE SME platform on May 28.
Accretion Pharmaceuticals IPO Allocation and Listing
Healthcare firm Accretion Pharmaceuticals recently closed its IPO on May 16, collecting ₹29.75 crores. The allotment process is expected to be completed by May 19, with shares projected to trade on the NSE Emerge from the 21st. The capital will be used towards capex, working capital, and debt servicing.
Some Significant Filings and Approvals Still Pending
Greaves Electric Mobility has received SEBI approval for its IPO, including a fresh issue of ₹1,000 crores and an offer-for-sale of 18.9 crores shares. The funds will be used for technology development and expansion of manufacturing capabilities.
More Retail, sponsored by Amazon and Samara Capital, intends to issue its primary offer on More Retail’s equities for ₹2,000 crores in 2026. This will fund expansion plans while also reducing debt.
Ravi Infrabuild Projects has submitted a draft for an IPO of ₹1,100 crores, which is planned to be used for equipment funding and debt servicing.
Market Outlook
The surge in IPO activity showcases the strong demand and confidence investors have in India’s growth story. Considering the healthy oversubscription and diverse set of companies lined up, we expect the coming weeks to be very active for primary market investors. We urge investors to remain vigilant and watchful in this further expanding IPO pipeline.
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