• Source:JND
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This Week, there will be a lot of activity on the initial public offering (IPO) lane as four major companies, including Aegis Vopak Terminals and Leela Palaces Hotels & Resorts operator Schloss Bangalore Ltd, will use the primary market to raise a total of over Rs 6,600 crore. Scoda Tubes and Prostar Info Systems are the other public issues planned for this week.

Furthermore, two companies, Borana Weaves and Belrise Industries, will make their debuts on D-Street. They are anticipated to list on May 28 and May 29, respectively.

Overall, the number of new listings has slowed down, with only 12 companies having launched initial public offerings (IPOs) in 2025 thus far. This is because of the equity market's volatility, which is caused by both domestic and international factors.

This change comes after an incredible 2024, when 91 first public issues raised a total of Rs 1.6 lakh crore, propelled by strong retail participation, a strong economy, and a boom in private capital spending.

A remarkable number of documents are being filed and are awaiting the stabilization of market conditions in spite of the slowdown.

In order to float public issues, 57 companies have already received final observations from the markets regulator, and 74 more are awaiting final observations from Sebi, according to the Axis Capital IPO Market Update May 2025.

These companies are spread across a variety of industries, including manufacturing, chemicals, real estate, co-working spaces, pharma-healthcare, cable-wire-electrical, tubes-pipes, solar/renewables, Indian subsidiaries of multinational corporations, and even film entertainment.

Schloss Bangalore's Rs 3,500-crore IPO consists of an offer for sale (OFS) of stocks valued at Rs 1,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd, as well as a new issue of equity shares worth Rs 2,500 crore.

Supported by Brookfield Asset Management, Schloss Bangalore intends to use the proceeds of the new issue for general corporate purposes as well as to repay loans taken out by the company and its subsidiaries. Public subscriptions for the issue, which has a price range of Rs 413–435 per share, will be accepted from May 26–28.

By issuing new equity shares, Aegis Vopak Terminals, a division of Aegis Logistics Ltd., hopes to raise Rs 2,800 crore.

The proceeds will be used for debt repayment in the amount of Rs 2,016 crore, capital expenditures for the purchase of a cryogenic LPG terminal in Mangalore in the amount of Rs 671.30 crore, and general corporate purposes.

Public subscriptions for the IPO, which has a price range of Rs 223 to Rs 235 per share, will open on May 26 and run through May 28.

The IPO of Scoda Tubes, a manufacturer of stainless steel tubes and pipes, is a completely new issue of equity shares totalling up to Rs 220 crore without any OFS component. Public subscriptions for the IPO will begin on May 28 and run through May 30.

On May 27, the anchor investor one-day bidding will begin. For its initial public offering (IPO), the Gujarat-based company has set a price range of Rs 130–140 per share.

The IPO's proceeds will be utilised for general business purposes, working capital needs, and increasing the production capacity of seamless and welded tubes and pipes. The IPO of Prostarm Info Systems, an integrated power solution company, consists of a new issue of 1.6 crore equity shares via the book-building route, with a face value of Rs 10.

Subscriptions for the Rs 168-crore issue will go live on May 27 and run through May 29. The price range that the company has set for each share is Rs 95-105.

Of the total IPO proceeds, Prostarm Info Systems plans to use Rs 72.50 crore to fund the company's capital needs, Rs 17.95 crore to pay off debt, and the remaining funds for general corporate purposes and inorganic growth through unnamed acquisitions and other strategic initiatives.

These four companies' equity shares are traded on the BSE and NSE.

(With Inputs From PTI)