It looks like Avanse Financial, Ather Energy and JSW Cement are some of the IPOs expected to launch with amounts ā¹3,500.00 Cr., ā¹4,000 crores, and major IPO are yet to be announced with the price band and issue size, however, these could have happened in the April 2025 and ready to shake the stock market in April.
Since market sentiment was not satisfactory, various IPOs were not listed as expected, whereas many IPOs were also SME and Mainline.
Here is the list of upcoming IPOs in April 2025. Letās find out the current Mainline and SME IPOs that open this April and in the forthcoming weeks in one place.
| Upcoming IPO | Opening Date | Closing Date | Type of IPO | IPO Size | Price Band |
| Retaggio Industries | 27 March | 2 April | SME | ā¹15.50 Cr. | ā¹25 |
| Spinaroo Commercial | 28 March | 3 April | SME | ā¹10.17 Cr. | ā¹51 |
| Infonative Solutions | 28 March | 3 April | SME | ā¹24.71 Cr. | ā¹75 to ā¹79 |
| Tankup Engineers | 23 April | 25 April | SME | ā¹19.53 Cr. | ā¹133 to ā¹140 |
| Ather Energy | 28 April | 30 April | Mainboard | ā¹2,980.73 Cr. | ā¹304 to ā¹321 |
| Iware Supplychain Services | 28 April | 30 April | SME | ā¹27.13 Cr. | ā¹95 |
| Arunaya Organics | 29 April | 2 May | SME | ā¹33.99 Cr. | ā¹55 to ā¹58 |
| Kenrik Industries | 29 April | 6 May | SME | ā¹8.75 Cr. | ā¹25 |
| Arisinfra Solutions | TBA | TBA | Mainboard | TBA | TBA |
| Aten Papers | TBA | TBA | SME | ā¹31.68 Cr. | ā¹91-96 |
| NSDL | TBA | TBA | Mainboard | TBA | TBA |
| Tata Capital | TBA | TBA | Mainboard | ā¹15,000 Cr | TBA |
| Dar Credit & Capital | TBA | TBA | SME | TBA | TBA |
| Belstar Microfinance | TBA | TBA | Mainboard | ā¹1300 Cr. | TBA |
| Avanse Financial | TBA | TBA | Mainboard | ā¹3,500.00 Cr. | TBA |
| Rosmerta Digital Services | TBA | TBA | SME | ā¹206.33 Cr. | ā¹140 to ā¹147 |
| Solar91 Cleantech | TBA | TBA | SME | ā¹106 Cr. | ā¹185 to ā¹195 |
| Vikram Solar | TBA | TBA | Mainboard | – Cr. | TBA |
| JSW Cement | TBA | TBA | Mainboard | ā¹4000 Cr. | TBA |
| BoAt | TBA | TBA | Mainboard | ā¹2000Cr | TBA |
| Vikran Engineering | TBA | TBA | Mainboard | ā¹1,000 Cr. | TBA |
| Leela Hotels | TBA | TBA | Mainboard | ā¹5,000 Cr. | TBA |
| Solarworld Energy | TBA | TBA | Mainboard | ā¹600 Cr. | TBA |
| Paras Healthcare | TBA | TBA | Mainboard | TBA | TBA |
| Prostarm Info Systems | TBA | TBA | Mainboard | TBA | TBA |
| Arohan Financial | TBA | TBA | Mainboard | TBA | TBA |
Retaggio Industries
Retaggio Industries IPO is opening on March 27, 2025, and closing on April 2, 2025. Whereas, the Retaggio Industries IPO price band set is ā¹25 per share. Retaggio Industries IPO consists fully fresh issue of ā¹15.50 crores along with a face value of ā¹10 for each share.
The retail quota is 50%, the QIB (Qualified Institutional Buyer) quota is 0%, and the HNI (High Net-Worth Individual) quota is 50%.
This firm has a good reputation and is known as one of the leading sectors in jewelry manufacturing. Financially, Retaggio Industries has a 19.74% ROE and a 7.01 PE ratio. Retaggio Industries IPO EPS(Earning Per Share) is 3.57.
Spinaroo Commercial
Spinaroo Commercial IPO is coming on 28th March 2025 and closing on 3 April 2025. This IPO is going to be listed on the BSE Platform. According to sources, Spinaroo Commercial IPO consists total, fresh issue of ā¹19,94,000 shares ā¹10.17 crore. As it has fresh issues from the public, all the IPO money would be gone for the companyās purpose.
One of the growing companies, Spinaroo Commercial, founded on August 17, 2012, is involved in the business of manufacturing Aluminium Foil Container, Aluminium Home Foil, Paper Cups, Paper Plates, Paper Bowls, Semi Processed Materials for Paper Cups viz. paper coating, printing, blanking, etc.
Financially, Spinaroo Commercialās ROE is 23.23%, and P/E Ratio is 3.64. An Earning Per Share is ā¹2.80 (Basic).
Infonative Solutions
Infonative Solutions IPO starts on March 28, 2025, and the IPO will close on April 3, 2025. This IPO only consists of a fresh issue of ā¹24.71 crores with a face value of ā¹1 each. Infonative Solutions IPO price band is ā¹75 to ā¹79 per share.
Infonative Solutions Limited was founded in 1998 and is a private firm that creates custom learning solutions for clients in various industries.
Financially, it has a revenue portion of ā¹18.08 crores in 2024 compared to ā¹20.95 crores in 2023.
Tankup Engineers
As per the sources, the Tankup Engineers IPO is coming on 23rd April 2025, and it will be closing on 25th April 2025. Moreover, it might have an approximate ā¹18 Crores issue size. The price band is set up at ā¹133 to 140 per share. Further, there might be 1000 Shares of a lot size.
Tankup Engineers Limited, incorporated on 3rd December 2020, is one of the well-known companies that specializes in the business of manufacturing custom vehicle superstructure designed to handle complex mobility and storage solutions.
Ather Energy
As per the sources, Ather Energy IPO is opening on 28th April, 2025 and it will be closed on 30th April, 2025. Moreover, a fresh issue would be ā¹2626 Crores Approx, and OFS will be 1.1 Crores Shares. In this IPO, retailers’ quota would be 10%.
Financially, it has a revenue of ā¹17,836 million in 2023. This firm has 116 experience centers across 92 cities.
However, as per sources, the Ather Energy IPO is likely to open in 2025.
Iware Supplychain
Iware Supplychain IPO is opening on 28th April 2025 and closing on 30th April 2025. As per the source, this IPO set the price at ā¹95 per share. Iware Supplychain IPO issue size is approximately ā¹27.13 crore.
Iware Supplychain is a leading company that offers a range of services, including warehousing (with 3PL and C&F operations), transportation, rake handling, business support services, and rental solutions.
Arunaya Organics
Arunaya Organics Ltd IPO is coming on April 29, 2025, and closes on May 2, 2025. As per the sources, it has set the price band of ā¹55 to ā¹58 per share.
Arunaya Organics Ltd is one of the top companies in terms of manufacturing dyes; in addition, they are experts in the manufacture of salt-free dyes. The reason behind one of the leading companies due make sure about quality, safety, and environmental responsibilities.
Kenrik Industries
Kenrik Industries IPO is opening on 29th April and May 6, 2025. This IPO consists only fresh issue of 34,98,000 shares with a face value of ā¹10 per share. This IPO is going to launch a platform on the BSE stock exchange.
Kenrik Industries is one of the top companies in terms of traditional indian. They are experts in handmade gold pieces, along with stones like diamonds, rubies, and cubic zirconia.
Arisinfra Solutions
Arisinfra Solutions IPO is to surge around ā¹600 crores in fresh issues with a face value of ā¹2 each, and a retail quota is 10%, QIB is 75%, and HNI is 15%.
Arisinfra Solutions is one of the leading firms in terms of making the process of buying construction materials simpler and faster by using digital tools. Although it has a good financial background, such as assets of ā¹492.83 crore and revenue of ā¹702.36 crore for the financial year ending March 31, 2024.
Aten Papers and Foam
The Aten Papers and Foam IPO opening and closing dates are yet to be announced. This IPO has set a price band of ā¹91-96 per share.
Further, Swastika Investment Limited is assigned as the lead manager of this IPO. In the Aten Papers and Foam IPO, 50% allocation is for QIB.
Aten Papers and Foam Limited plays a key role in the paper product supply chain. This is from various mills and is being it to clients in the packaging industry.
NSDL
Depository firm NSDL makes a plan to launch an IPO. This IPO would be entirely OFS, promoters will offload positions by selling their shares.
National Securities Depository Limited (NSDL) is a premier market infrastructure entity in India, registered with the Securities and Exchange Board of India (SEBI).
Financially, NSDL jumped around 29.8% in net profit, Additionally, net profit was ā¹66.09 cr and increased by ā¹85.80 Cr, respectively, in just the third quarter.
Tata Capital
Tata Capital is one of the major companies in the Tata Group. It has announced an IPO to increase the company’s capital. This has had a substantial impact on the Tata Group, as Tata Investmentās share price was ā¹5,760.00 on 24 February 2025. After the Tata Capital IPO approval, this share jumped ā¹6,213.40 on 25 February 2025, respectively. Theācompanyās market capitalisation stands at ā¹31,460.16 crore.
Dar Credit & Capital
Dar Credit & Capital is one of the growing companies providing three primary types of financial products: Personal Loans, Unsecured MSME Loans, and Secured MSME Loans. The company offers loans and other loan-related solutions to low-income and Class 4 employees, such as cleaners, sweepers, and peons working in municipalities.
Belstar Microfinance
Belstrat Microfinance is backed by Muthoot Finance and plans to increase funds via an IPO of ā¹1,300 crore, consisting of a fresh issue of ā¹1000 crore and OFS ā¹ 300 crore. Belstrat Microfinance is one of the leading firms in terms of financial services. It is famous as the nine largest NBFCs (Non-banking Finance Company).
Within 9 years, this company made substantial growth in business, portfolio, and operations. Backed by Muthoot Finance and with a strong track record, the IPO presents an attractive opportunity for investors looking to enter the microfinance sector.
Avanse Financial Services
Avanse Financial Services IPO is a book-built issue and is likely to generate around ā¹3,500.00 crores through IPO, which is a combination of fresh issues of ā¹1,000.00 crores and OFS with a face value of ā¹5 each.
The Avanse Financial Services IPO price band is yet to be announced, while quotas have been announced. The retail quota is 35%, QIB is 50%, and HNI is 15%. Avanse Financial Services IPO is going to be listed on the BSE & NSE.
Rosmerta Digital Services
Rosmerta Digital Services IPO has an aim to raise ā¹206.33 crores, which is an entirely fresh issue of ā¹206.33 crores with a face value of ā¹2 each.
The Rosmerta Digital Services IPO price band is ā¹140 to ā¹147 per share. An IPO has 3 main quotas, such as a retail quota is 35%, a QIB quota of 50%, and an HNI is 15%. This IPO is proposed to be listed on the BSE.
Solar91 Cleantech
Solar91 Cleantech’s IPO goal is to increase ā¹106 crores via IPO, has a fresh issue of ā¹106 crores with a face value of ā¹10 each. Solar91 Cleantech IPO price band is ā¹185 to ā¹195 per share.
This firm has a goal to provide national and international solar transitions. Moreover, it is giving the best in PM KUSUM with the engineering, procurement, and construction services for solar projects.
Vikram Solar
Vikram Solar IPO is a Book Built Issue, and Vikram Solar IPO issue size is yet to be announced, however, it will be declared soon. The offering includes a fresh issue of ā¹1,500 crores and an offer for sale of up to 17,450,882 equity shares, each with a face value of ā¹10. Significantly, in this IPO, retailers accounted for 35%, while QIB had 50% and 15% for high-net-worth individuals (HNIs). Moreover, it has the purpose of getting positions on the NSE and BSE stock exchanges.
JSW Cement
JSW Cement IPO has the aim of surging financial condition via IPO, which is a fully fresh issue of ā¹2,000 crores with a face value of ā¹10 each.
Moreover, in the JSW Cement IPO, 35% places have been reserved for retailers, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). An IPO share will be listed on the NSE and BSE stock exchanges.
BoAt
BoAt has received approval from its shareholders to proceed with its IPO. The brand will soon submit its draft papers to SEBI to initiate the process. Currently, the company is looking to raise between ā¹2000-2500 crore through the IPO.
In 2022, this company submitted a DRHP to launch an IPO for ā¹2000 crores, in which they planned to raise ā¹900 crores as a fresh issue and ā¹1100 crores as an offer-for-sale by the private equity firm Warburg Pincus.
Vikran Engineering
Vikran Engineering, an Engineering, Procurement, and Construction (EPC) firm, is set to raise ā¹1,000 crore through an IPO, which is a combination of a fresh issue of Rs 900 crore and an offer for sale worth ā¹100 crore by the promoter. IPO details are yet to be announced.
In order to expand its business, this firm has a presence in various sectors. preparing to venture into the solar EPC industry by managing turnkey projects for solar PV systems up to 100MWp and a balance of system projects for solar power plants up to 300MWp.
Leela Hotels
The Leela Hotels IPO will consist of a ā¹5000 crore issue size, wherein a fresh issue of ā¹3,000.00 crores and an offer for sale of Rs 2,000.00 crores. Leela Hotels’ opening date has not been announced yet, but it might be announced soon.
It specializes in owning, operating, and developing luxury hotels and resorts, delivering premium accommodations and personalized experiences rooted in the richness of Indian hospitality.
Solarworld Energy
Solarworld Energy’s IPO is a main-board public offering of equity shares with a face value of ā¹5 each, totaling up to ā¹600 crore. Wherein, the fresh issue would be ā¹550 crore, and OFS would be ā¹50 crore.
SolarWorld Energy Solutions Limited, founded in 2013, provides solar energy solutions and specializes in engineering, buying equipment, and building solar power projects.
Paras Healthcare
Paras Healthcare IPO might be coming soon, this IPO ā¹400.00 crore and offer for sale of 1.50 crore shares. IPO opening -closing date and price band will be coming soon, as per the sources.
Founded in 1987, Paras Health is a healthcare organization that runs a network of hospitals across North India, including Bihar and Jharkhand.
Prostarm Info Systems
Itās an announcement that Prostarm Info Systems’ IPO might launch in 2025 and will also be closed in 2025. Moreover, this IPO is going to be listed on the BSE and NSE stock exchanges.
Prostarm Info Systems is one of the top firms, as it has top-notch power conditioning equipment for creating, assembling, selling, and servicing. Education to healthcare, railways to aviation, research to defense and security, all are benefited by this company, as they have expertise and knowledge.
Financially, the revenue of this company has also increased by ā¹259.23 crores in 2024, which is higher than in 2023, which was ā¹232.35 crores.
Arohan Financial
Arohan Financial Services, a microfinance company based in Kolkata, has submitted a draft prospectus to SEBI to obtain approval for launching its IPO. The company primarily targets underserved and unserved states across India. Market sources indicate that the IPO will raise approximately ā¹1,750 crore.
