Q-Line Biotech NSE SME IPO review

The company is engaged in the business of developing, manufacturing and marketing of diverse range of reagents and consumables.
It posted growth in its top lines for the reported periods, but suffered a setback for FY25 in bottom line following accounting adjustments.
As the company has no listed peers, it is trying to extract fancy price for its IPO.
Based on its overall financial data, the issue appears fully priced.
Well-informed investors may park moderate funds for long term.

About Company

Q-Line Biotech Ltd. (QBL) is engaged in the business of developing, manufacturing and marketing of diverse range of reagents (including kits and POC devices) & consumables and manufacturing, importing, distribution/supply of diagnostic equipment for different diagnostic healthcare needs. The company supplies diagnostic equipment and IVD products for different diagnostic healthcare needs since 2013 directly or through its distributor/s majorly to diagnostic service providers, hospitals and medical colleges.

The company has established its brands over a period of 12 years through its experience, R & D, manufacturing capabilities and quality assurance. The core segments of operations of the Company in IVD Industry include Clinical Chemistry, Haematology, Immunodiagnostics, Molecular Diagnostics and Others (POC Devices & Rapids).

QBL’s key manufacturing segments include indigenous manufacturing of reagents including Clinical Chemistry, Haematology, Immunodiagnostics, Molecular Diagnostics and Others (POC Devices & Rapids) and supplying/ manufacturing of in-vitro diagnostics (IVD), Pathology equipment’s & devices. Further during the Covid-19 pandemic, the company diversified its focus and with the technical collaboration of third-party institutes and through its own R&D team developed a range of Covid testing kits viz. RT-PCR Kits, RNA Extraction Kits, VTM Kits etc.

It is research driven company engaged in developing and manufacturing a wide range of reagents formulations used across various IVD and diagnostic needs. The company leverages its R&D capabilities to develop and manufacture a portfolio of differentiated reagent formulations /products. Further, for its certain Class of Reagent & equipment’s and devices manufacturing business, the company has entered into technical collaboration with certain international companies. Under the agreement terms, it undertakes the manufacturing of these Reagent and equipment’s and devices as per the technical collaboration and specifications provided by the partners or companies.

With the help of these collaborations the equipment and devices adhere to strict quality control, international standards and certifications. As of March 31, 2026, the company employed 19 personnel at R&D laboratories, which constituted 5.25% of its total permanent employee strength. As of March 31, 2026, it had 362 employees on its payroll and additional 223 contract employees in various departments.

Issue Details / Capital History

The company is coming out with its maiden book building route IPO of 6253200 equity shares of Rs. 10 each to mobilize Rs. 214.48 cr. at the upper cap. The company has announced a price band of Rs. 326 - Rs. 343 per share. The minimum application to be made is for 800 shares and in multiples of 400 shares thereon, thereafter. The IPO opens for subscription on May 21, 2026, and will close on May 25, 2026. The IPO constitute 26.81% of the post-IPO paid-up capital of the company. The shares will be listed on NSE SME Emerge. From the net proceeds of the IPO, it will utilize Rs. 93.50 cr. for working capital, Rs. 90.00 cr. for repayment/prepayment of certain borrowings, and the rest for general corporate purposes.

The company raised Rs. 27.44 cr. in a pre-IPO placement of 800000 shares in May 2026, at Rs. 343 per share.

The IPO is jointly lead managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd., Purva Sharegistry (India) Pvt. Ltd., is the registrar to the issue. HEM group’s Hem Finlease Pvt. Ltd., is the market maker as well as a syndicate member.

The company has issued initial equity capital at par value. It raised further equity shares in the price range of Rs. 125 – Rs. 417 between March 2019 and May 2026. It has also issued bonus shares in the ratio of 2 for 1 in March 2016, and 9 for 1 in August 2025. The average cost of acquisition of shares by the promoters is Rs. 0.00, Rs. 0.04, and Rs. 18.34 per share.

Post-IPO, company’s current paid-up equity capital of Rs. 17.07 cr. will stand enhanced to Rs. 23.33 cr. Based on the upper band of the IPO pricing, the company is looking for a market cap of Rs. 800.16 cr.

IPO Lead Managers & Registrar

Financial Performance

On the financial performance front, for the last three fiscals, the company has (on a consolidated basis) posted total income/ net profit, of Rs. 184.81 cr. / Rs. 32.10 cr. (FY23), Rs. 206.45 cr. / Rs. 34.44 cr. (FY24), Rs. 322.58 cr. / Rs. 28.13 cr. (FY25). For 9M of FY26 ended on December 31, 2025, it earned a net profit of Rs. 38.69 cr. on a total income of Rs. 236.50 cr. Though it posted growth in its top lines for the reported periods, its bottom line posted inconsistency. For FY25, it posted lower net profit of Rs. 28.13 cr., and for 9M-FY26, though the top line is Rs, 236.50 cr. it posted bumper profit of Rs. 38.69 cr. in a pre-IPO period, that not only raise eyebrows, but also concern over its sustainability going forward. Despite higher other income for FY25, it marked lower net following extra-ordinary item of Rs. 16.97 cr. Its contingent liability stood at Rs. 61.64 cr. as of December 31, 2025, that raises alarm. Its overall borrowings of Rs. 242.57 cr. as of December 31, 2025, raise concern.

For the last two fiscals, the company has reported an average EPS of Rs. 25.00, and an average RoNW of 23.17%. The issue is priced at a P/BV of 2.44 based on its NAV of Rs. 140.81 per share as of December 31, 2025, but its post-IPO NAV data is missing from the offer documents.

If we attribute FY26 super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 15.51, and based on FY25 earnings, the P/E stands at 28.44. The issue appears fully priced, based on its bumper earnings for 9M-FY26, which may not be sustained.

For the reported periods, the company has posted PAT margins of 17.56% (FY23), 16.92% (FY24), 8.97% (FY25), 16.65% (9M-FY26), and RoCE margins of 22.14%, 19.25%, 17.66%, 13.32%, respectively, for referred periods.

All amounts in Indian Rupees crores

Period Ended	Revenue	Expense	PAT	Assets
2023	₹184.81	₹154.97	₹32.10	₹251.58
2024	₹206.45	₹175.85	₹34.44	₹339.25
2025	₹322.58	₹261.43	₹28.13	₹455.49
Dec 2025	₹236.50	₹186.96	₹38.69	₹561.34

Dividend Policy

The company has not paid any dividends for the reported periods of the offer document. It will adopt a prudent dividend policy, based on its financial performance and future prospects.

Comparison with Listed Peers - for Fiscal 2025

As per the offer document, the company has no listed peers to compare with.

Name of the Company	Face Value (₹)	EPS basic (₹)	EPS Diluted (₹)	RONW (%)	P/E Ratio	NAV (₹)
Powerica Limited	5	15.26	15.26	15.37 %	24.45	99.76
Listed Peers
Cummins India Limited	2	72.15	72.15	26.45%	64.13	272.78
Kirloskar Oil Engines Limited	2	33.71	33.60	15.85%	43.24	212.60
NTPC Green Energy Limited	10	0.67	0.67	2.58%	129.40	21.88
Acme Solar Holdings Limited	2	4.55	4.53	5.59%	50.74	74.54
Adani Green Energy Limited	10	8.37	8.37	11.90%	101.53	76.62

Disclaimer: Above table shows earnings and P/E ratio as of 2025-26

Merchant Banker's Track Record

The two merchant bankers associated with this issue have handled 79 issues in the past three years, out of which 8 issues closed below the issue price on listing date.

Conclusion - Apply for medium to long term

QBL is engaged in the business of developing, manufacturing and marketing of diverse range of reagents and consumables. It posted growth in its top lines for the reported periods, but suffered a setback for FY25 in bottom line following accounting adjustments. As the company has no listed peers, it is trying to extract fancy price for its IPO. Based on its overall financial data, the issue appears fully priced. Well-informed investors may park moderate funds for long term.

Dilip Davda is a veteran financial journalist associated with the Indian stock market since 1978. He has been contributing to print and electronic media on capital markets, insurance, and finance since 1985.

He is widely recognized for reviewing public issues and non-convertible debentures (NCDs) in the primary market. Drawing on over three decades of market experience and close interaction with merchant bankers, his reviews focus on detailed fundamental and financial analysis of companies, with a special emphasis on SME public issues.

Disclaimer: The information provided herein is solely for educational and informational purposes and does not constitute an offer, solicitation, or recommendation to buy or sell any securities. Readers are advised to consult a qualified financial advisor before making any investment decisions. Investments in the securities market are subject to market risks. The author does not intend to invest in the securities discussed.

FAQ Accordion

Q-Line Biotech IPO FAQs

1. What is Q-Line Biotech IPO? ⌄

Q-Line Biotech IPO is SME IPO. The company is going to raise ₹214 Crores via IPO. The issue is priced at ₹326 to ₹343 per equity share. The IPO is to be listed on NSE SME.

2. When Q-Line Biotech IPO will open for subscription? ⌄

The IPO is to open on May 21, 2026 for QIB, NII, and Retail Investors. The IPO will close on May 25,2026.

3. What is Q-Line Biotech IPO Investors Portion? ⌄

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

4. How to Apply the Q-Line Biotech IPO? ⌄

You can apply for Q-Line Biotech IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

5. What is Q-Line Biotech IPO Issue Size? ⌄

Q-Line Biotech IPO issue size is ₹214 crores.

6. What is Q-Line Biotech IPO Price Band? ⌄

Q-Line Biotech IPO Price Band is ₹326 to ₹343.

7. What is Q-Line Biotech IPO Lot Size? ⌄

The minimum bid is 800 Shares with ₹2,74,400 amount.

8. What is the Q-Line Biotech IPO Allotment Date? ⌄

Q-Line Biotech IPO allotment date is May 26,2026.

9. What is the Q-Line Biotech IPO Listing Date? ⌄

Q-Line Biotech IPO listing date is May 29, 2026. The IPO is to list on NSE SME.

Upcoming IPO in July 2025 with Date, Size, Price Band

By Jagat Joshi
July 30, 2025

Good News for eagerly waiting investors! We are about to enter June 2025 with various companies ready to step into the stock exchange and are expected to raise maximum amounts through an Initial Public Offering (IPO). If you are looking for the latest IPO in June 2025, you are at the right place. Below is the list of various companies that have filed for DRHP and got approval as RHP, which are expected to hit the primary market in June 2025.

It looks like Avanse Financial,., and JSW Cement are some of the IPOs expected to launch with amounts ₹3,500.00 Cr,. and ₹4,000 crores, and major IPO are yet to be announced with the price band and issue size, however, these could have happened in the July 2025 and ready to shake the stock market in July.

Since market sentiment was not satisfactory, various IPOs were not listed as expected, whereas many IPOs were also SME and Mainboard.

Here are the July IPO 2025 details. In one place, let’s find out about the current Mainline and SME IPOs that open this July and in the forthcoming weeks.

Upcoming IPO	Open Date	Close Date	IPO Type	IPO Size	Price Band
Neetu Yoshi	June 27	July 1	SME	₹77.04 Cr.	₹71 to ₹75
Adcounty Media India	June 27	July 1	SME	₹50.69 Cr.	₹80 to ₹85
Marc Loire	June 30	July 2	SME	₹21.00 Cr.	₹100
Cedaar Textile	June 30	July 2	SME	₹60.90 Cr.	₹130 to ₹140
Pushpa Jewellers	June 30	July 2	SME	₹98.65 Cr.	₹143 to ₹147
Silky Overseas	June 30	July 2	SME	₹30.68 Cr.	₹153 to ₹161
Vandan Foods	June 30	July 2	SME	₹30.36 Cr.	₹115
Crizac	July 2	July 4	Mainboard	₹860 Cr.	₹233 to ₹245
White Force	July 3	July 7	SME	₹24.25 Cr.	₹72 to ₹76
Cryogenic OGS	July 3	July 7	SME	₹17.77 Cr.	₹44 to ₹47
Meta Infotech	July 4	July 8	SME	₹80.18 Cr.	₹153 to ₹161
Chemkart India	July 7	July 9	SME	₹80.08 Cr.	₹236 to ₹248
Travel Food Services	July 7	July 9	Mainboard	₹2000 Cr.	₹1045 to ₹1100
Smarten Power Systems	July 7	July 9	SME	₹50.00 Cr.	₹100
GLEN Industries	July 8	July 10	SME	₹63.02 Cr.	₹92 to ₹97
CFF Fluid Control FPO	July 9	July 11	SME	₹87.75 Cr.	₹585
Asston Pharmaceuticals	July 9	July 11	SME	₹27.56 Cr.	₹115 to ₹123
Smartworks Coworking	July 10	July 14	Mainboard	₹582.56 Cr.	₹387 to ₹407
Spunweb Nonwoven	July 14	July 16	SME	₹60.98 Cr.	₹90 to ₹96
Anthem Biosciences	July 14	July 16	Mainboard	₹3,395 Cr.	₹540 to ₹570
Monika Alcobev	July 16	July 18	SME	₹165.63 Cr.	₹271 to ₹286
Savy Infra	July 21	July 23	SME	₹69.98 Cr.	₹114 to ₹120
PropShare Titania	July 21	July 25	Mainboard	₹473 Cr.	₹1000000 to ₹1060000
Swastika Castal	July 21	July 23	SME	₹14.07 Cr.	₹65
Monarch Surveyors	July 22	July 24	SME	₹93.75 Cr.	₹237 to ₹250
Indiqube Spaces	July 23	July 25	Mainboard	₹700 Cr.	₹225 to ₹237
GNG Electronics	July 23	July 25	Mainboard	₹460.43 Cr.	₹225 to ₹237
TSC India	July 23	July 25	SME	₹25.89 Cr.	₹68 to ₹70
Brigade Hotel Ventures	July 24	July 28	Mainboard	₹759.60 Cr.	₹86 to ₹90
Shanti Gold	July 25	July 29	Mainboard	₹360.11 Cr.	₹189 to ₹199
Patel Chem Specialities	July 25	July 29	SME	₹58.80 Cr.	₹82 to ₹84
Sellowrap Industries	July 25	July 29	SME	₹30.28 Cr.	₹79 to ₹83
Shree Refrigerations	July 25	July 29	SME	₹117.33 Cr.	₹119 to ₹125
Umiya Mobile	July 28	July 30	SME	₹24.88 Cr.	₹66
Repono	July 28	July 30	SME	₹26.68 Cr.	₹91 to ₹96
Laxmi India Finance	July 29	July 31	Mainboard	₹1,300 Cr.	₹640 to ₹675
Aditya Infotech	July 29	July 31	Mainboard	₹254.26 Cr.	₹150 to ₹158
Kaytex Fabrics	July 29	July 31	SME	₹69.81 Cr.	₹171 to ₹180
Sri Lotus Developers	July 30	Aug 1	Mainboard	₹792 Cr.	₹140 to ₹150
M&B Engineering	July 30	Aug 1	Mainboard	₹650 Cr.	₹366 to ₹385
NSDL	July 30	Aug 1	Mainboard	₹4011.60 Cr.	₹760 to ₹800
B.D.Industries (Pune)	July 30	Aug 1	SME	₹45.36 Cr.	₹102 to ₹108
Mehul Colours	July 30	Aug 1	SME	₹21.66 Cr.	₹68 to ₹72
Takyon Networks	July 30	Aug 1	SME	₹20.48 Cr.	₹51 to ₹54
Cash Ur Drive Marketing	July 31	Aug 4	SME	₹60.79 Cr.	₹123 to ₹130
Renol Polychem	July 31	Aug 4	SME	₹25.77 Cr.	₹100 to ₹105
Hero Fincorp	TBA	TBA	Mainboard	– Cr.	TBA
Tea Post	TBA	TBA	Mainboard	– Cr.	TBA
Victory Electric Vehicles	TBA	TBA	SME	₹40.66 Cr.	₹72
Tata Capital	TBA	TBA	Mainboard	₹15,000 Cr.	TBA
Avanse Financial	TBA	TBA	Mainboard	₹3,500 Cr.	TBA
Rosmerta Digital Services	TBA	TBA	SME	₹206.33 Cr.	₹140 to ₹147
Solar91 Cleantech	TBA	TBA	SME	₹106 Cr.	₹185 to ₹195
Vikram Solar	TBA	TBA	Mainboard	– Cr.	TBA
JSW Cement	TBA	TBA	Mainboard	₹4000 Cr.	TBA
BoAt	TBA	TBA	Mainboard	₹2000 Cr.	TBA
Vikran Engineering	TBA	TBA	Mainboard	₹1,000 Cr.	TBA
Solarworld Energy	TBA	TBA	Mainboard	₹600.00 Cr.	TBA
Paras Healthcare	TBA	TBA	Mainboard	– Cr.	TBA
Arohan Financial	TBA	TBA	Mainboard	– Cr.	TBA
SMPP	TBA	TBA	Mainboard	₹4,000 Cr.	TBA
Omnitech Engineering	TBA	TBA	Mainboard	₹850 Cr.	TBA
Pine Labs	TBA	TBA	Mainboard	– Cr.	TBA

Neetu Yoshi

Neetu Yoshi IPO is opening on June 27, 2025, and will close on July 1, 2025. Moreover, the company is going to raise around ₹77.04 crores, wherein the fresh issue is ₹77.04 crores with the face value of ₹5 each. Further, its IPO price band is ₹71 to ₹75 per share.

Founded in January 2020, Neetu Yoshi Limited is one of the leading companies involved in the business of manufacturing customised products in different grades of ferrous metallurgical products.

Adcounty Media India

Adcounty Media India IPO is opening on June 27, 2025, and will close on July 1, 2025. Further, the company has decided to raise a fresh issue of ₹50.69 crores with the face value of ₹10 each. The price band selected is between ₹80 to ₹85 Per Share.

The IPO proceeds will be utilised for the Capital Expenditure requirements of the Company. A portion will also be allocated for the Working Capital requirements of the Company.

Moreover, a portion will be used to cover the costs of an unspecified company acquisition and general corporate needs, and some of the money will be used for general purposes.

Marc Loire

Marc Loire IPO is opening on June 30, 2025, and will close on July 2, 2025. Moreover, it is going to rise around ₹21.00 crores, wherein the fresh issue is ₹21.00 crores with a face value of ₹10 each.

In this IPO, the price band is ₹100 Per Share. Moreover, 1200 shares in 1 lot size for retail minimum and maximum investors. For S-HNI minimum of 2400 shares consists of 2 shares.

Cedaar Textile

Cedaar textile IPO is going to open on June 30, 2025, and will close on July 2, 2025. Moreover, it has decided to earn ₹60.90 crores, wherein the fresh issue is ₹60.90 crores with a face value of ₹10 each. The price band is set at ₹130 to ₹140 per share.

In this IPO, the Retail Minimum and Maximum investors will receive 1000 shares in a 1 lot size, and S-HNI 2000 shares in 2 lot sizes.

Pushpa Jewellers

Pushpa Jewellers IPO is opening on June 30, 2025, and will close on July 2, 2025. Moreover, the company is to earn ₹98.65 crores, of which the fresh issue is ₹74.00 crores and OFS sale up to 13,41,000 equity shares with a face value of ₹10 each. Pushpa Jewellers’ IPO price band is ₹143 to ₹147 per share.

Affinity Global Capital Market Private Limited is the lead manager of the IPO.

Silky Overseas

The Silky Overseas IPO is set to open on June 30, 2025, and will close on July 2, 2025. This is a Book Built Issue through which the company aims to raise approximately ₹30.68 crores. The IPO includes a fresh issue worth ₹30.68 crores and each having a face value of ₹10.

Gretex Corporate Services Limited is a lead manager, and Skyline Financial Services Private Limited is an IPO registrar.

Vandan Foods

Vandan Foods IPO will open on June 30, 2025, and close on July 2, 2025. plans to raise approximately ₹30.36 crores. The IPO consists of a fresh issue amounting to ₹30.36 crores with a face value of ₹10.

The company recorded a revenue of ₹48.73 crores in 2024, a significant increase from ₹11.59 crores in 2023. Its profit also rose to ₹2.64 crores in 2024, up from ₹0.64 crores in the previous year.

Crizac

Crizac’s IPO will open on July 2, 2025, and close on July 4, 2025. It is a Book Built Issue through which the company aims to raise approximately ₹860 crores. This includes an OFS of shares worth ₹860 crores with a face value of ₹2 each. The price band for the IPO is set between ₹233 and ₹245 per share.

White Force

White Force IPO is opening on July 3, 2025, and will close on July 7, 2025. Moreover, the IPO has an issue size of ₹24.25 Cr. The company plans to raise around ₹24.25 crores through an IPO, which includes a fresh issue of ₹24.25 crores with a face value of ₹10 each. The White Force IPO price band is between ₹72 to ₹76 per share.

Cryogenic OGS

The Cryogenic OGS IPO will open on July 3, 2025, and close on July 7, 2025. The company aims to raise around ₹17.77 crores through the IPO, which includes a fresh issue of ₹17.77 crores with a face value of ₹10 each. Cryogenic OGS IPO price band is ₹44 to ₹47 per share.

Cryogenic OGS Limited is one of the growing companies that are involved in the manufacturing and assembly of high-quality measurement and filtration equipment for industries that include oil, gas, chemicals, and related fluid sectors.

Chemkart India

Chemkart India IPO will open on July 7, 2025, and close on July 9, 2025. The company plans to raise about ₹80.08 crores through the IPO, which includes a fresh issue of ₹64.48 crores and an offer for sale of up to 6,29,200 equity shares with a face value of ₹10 each.

The company recorded a revenue of ₹205.46 crores in 2025, up from ₹132.83 crores in 2024. Its profit also rose to ₹24.26 crores in 2025, compared to ₹14.52 crores in 2024.

Travel Food Services

As per the sources, Travel Food Services IPO issue size is estimated at ₹2,000 crore, wherein the fresh issue will not be and the IPO money will be taken by the selling shareholders. Travel Food Services IPO will open on July 7, 2025, and close on July 9, 2025. The price band of the Travel Food Services is set at ₹1045 to ₹1100 per equity shares.

Travel Food Services is a leading operator of food and beverage outlets at airports and travel hubs across India.

Smarten Power Systems

Smarten Power Systems’ IPO will be open for subscription from July 7 to July 9, 2025. Moreover, the IPO has an issue size of around ₹50.00 crores along with a price band of ₹100. In this IPO, fresh issue will be of ₹40 crores and offer for sale up to 9,99,600 equity shares with face value of ₹10 each.

Smarten Power Systems Limited, established in 2014, specializes in designing and assembling power backup and solar products such as Home UPS systems, solar inverters, power conditioning units, and charge controllers. The company also deals in solar panels and batteries.

GLEN Industries

GLEN Industries’ IPO will open on July 8, 2025, and close on July 10, 2025. The company has aiming to raise about ₹63.02 crores. This includes a fresh issue worth ₹63.02 crores with a face value of ₹10 each.

Mr. Lalit Agrawal, Mrs. Lata Agrawal, Mr. Nikhil Agrawal, and Mrs. Niyati Seksaria are the promoters of this company.

CFF Fluid Control’s FPO

CFF Fluid Control’s FPO will open on July 9, 2025, and close on July 11, 2025. It has an aim to raise around ₹87.75 crores. This includes a fresh issue of ₹87.75 crores with a face value of ₹10 each.

CFF Fluid Control Limited is a leading company that caters to the growing needs of the country’s defence sector.

Asston Pharmaceuticals

Asston Pharmaceuticals’ IPO will open on July 9, 2025, and close on July 11, 2025. The company aims to raise around ₹27.56 crores. This includes a fresh issue worth ₹27.56 crores, along with a face value of ₹10 each.

The company recorded a revenue of ₹25.61 crores in 2025, up from ₹15.84 crores in 2024. Its profit also increased to ₹4.33 crores in 2025, compared to ₹1.36 crores in 2024.

Smartworks Coworking

Smartworks Coworking IPO is opening on July 10, 2025, and will close on July 14, 2025. Moreover, the company’s IPO issue size is ₹582.56 crores. In this IPO, the fresh issue of ₹445 crores and an offer for sale of up to 3,379,740 equity shares, each with a face value of ₹10. Smartworks Coworking IPO price band is ₹387 to ₹407 per share.

Smartworks Coworking Limited is a top company known for providing office space solutions and managing campus-style workspaces.

Spunweb Nonwoven

Spunweb Nonwoven IPO opening schedule is July 14, 2025, and will close on July 16, 2025. Moreover, the company is going to earn around ₹60.98 crores via IPO. Moreover, in this IPO fresh issue will be ₹60.98 crores with the face value of ₹10 each. Its price band is ₹90 to ₹96 per share.

Financially, the revenue of this firm in 2025 was reported as ₹227.14 crores, in contrast to ₹154.24 crores in 2024. The company posted a profit of ₹10.79 crores in 2025, up from ₹5.44 crores in 2024.

Anthem Biosciences

Anthem Biosciences’ IPO will open on July 14, 2025, and close on July 16, 2025. The company has an aim to earn around ₹3,395 crores.

The company posted a revenue of ₹1,483.07 crores in 2024, up from ₹1,133.99 crores in 2023. Its profit stood at ₹367.31 crores in 2024, slightly lower than ₹385.19 crores in 2023. Based on the financials, the IPO appears suitable for long-term investment.

Monika Alcobev

Monika Alcobev IPO will open on July 16, 2025, and close on July 18, 2025. It is a Book Built Issue through which the company aims to raise approximately ₹153.68 crore. This includes a fresh issue of ₹125.08 crore and an offer for sale of up to 10,00,000 equity shares with a face value of ₹10 each. The IPO price band has been set between ₹271 and ₹286 per share.

Monika Alcobev company is a prominent name in the imported liquor industry, providing a wide range of premium and luxury alcoholic drinks.

Savy Infra & Logistics

The Savy Infra IPO will open on July 21, 2025, and close on July 23, 2025. The company aims to raise approximately ₹69.98 crores. This includes a fresh issue worth ₹69.98 crores, along with a face value of ₹10. Savy Infra IPO price band is ₹114 to ₹120 per share.

Swastika Castal

Swastika Castal IPO open date is July 21, 2025, and the IPO will close on July 23, 2025. Swastika Castal IPO is a Fixed Price Issue. The company plans to raise around ₹14.07 crores via IPO which comprises a fresh issue of ₹14.07 crores with a face value of ₹10 each. The Swastika Castal IPO price band is ₹65 per share.

PropShare Titania

PropShare Titania’s IPO will open on July 21, 2025, and close on July 25, 2025. The company plans to raise approximately ₹473 crores through the offering, which includes a fresh issue of ₹473 crores, along with an offer for sale of an unspecified number of equity shares with a face value of ₹0 each.

Monarch Surveyors

Monarch Surveyors IPO is opening is July 22, 2025, and will close on July 24, 2025. The company is going to launch around ₹93.75 crores, wherein the fresh issue is ₹93.75 crores with face value of ₹10 each.

TSC India

TSC India IPO is opening on July 23, 2025, and will close on July 25, 2025. Moreover, the company has intend to raise around ₹25.89 crores. The IPO includes a fresh issue worth ₹25.89 crores, along with a face value of ₹10. The price band of the IPO is between ₹68 to ₹70 per share.

GNG Electronics

GNG Electronics IPO is opening on July 23, 2025 and will close on July 25, 2025. Moreover, it has issue size around ₹460.43 crores, wherein fresh issue of ₹400 crores and an offer for sale up to 25,50,000 equity shares with face value of ₹2 each. Further, GNG Electronics IPO price band is ₹225 to ₹237 per share.

Indiqube Spaces

Indiqube Spaces IPO is scheduled to open on July 23, 2025, and will close on July 25, 2025. Further, the company is aiming to raise approximately ₹700 crores. This includes a fresh issue amounting to ₹650 crores and an offer for sale of up to 21,09,704 equity shares, each with a face value of ₹1.

Brigade Hotel Ventures

Brigade Hotel Ventures IPO is opening on July 24, 2025 and will close on July 28, 2025. Moreover, the company is going to around ₹759.60 crores, inwhich fresh issue of ₹759.60 crores along with face value of ₹10 each. Brigade Hotel Ventures IPO price band is ₹85 to ₹90 per share.

Brigade Hotel Ventures Limited is a prominent hotel owner and developer with operations across multiple cities in India.

Shanti Gold International

Shanti Gold International IPO is scheduled to open from July 25, 2025, to July 29, 2025. Moreover, the IPO has an issue size of ₹360.11 crores, in which a fresh issue of ₹360.11 crores is made with a face value of ₹10 each. Moreover, Shanti Gold International IPO price band is ₹189 to ₹199 per share.

Patel Chem Specialities

Patel Chem Specialities IPO is scheduled to open on July 25, 2025, and will close on July 29, 2025. The company is aiming to raise approximately ₹58.80 crores. The offering consists entirely of a fresh issue amounting to ₹58.80 crores, with each equity share carries a face value of ₹10.

Sellowrap Industries

The Sellowrap Industries IPO is scheduled to open on July 25, 2025, and will close on July 29, 2025. It has a issue size around ₹30.28 crores. This amount includes a fresh issue worth ₹30.28 crores with the face value of ₹10 each share.

The price band for the IPO has been set at ₹79 to ₹83 per share, with each equity share having a face value of ₹10.

Shree Refrigerations

The Shree Refrigerations IPO will open on July 25, 2025, and close on July 29, 2025. The company is planning to raise approximately ₹117.33 crores through the offering. This includes a fresh issue of ₹94.51 crores and an offer for sale of up to 18,25,000 equity shares, each having a face value of ₹2.

The price band for the IPO is set between ₹119 and ₹125 per share.

Repono

The Repono IPO is set to open on July 28, 2025, and will close on July 30, 2025. Its issue size is around ₹26.68 crores. This includes a fresh issue worth ₹26.68 crores with the each equity share has a face value of ₹10.

The price band for the IPO is fixed at ₹91 to ₹96 per share.

Umiya Mobile

The Umiya Mobile IPO is set to open on July 28, 2025, and will close on July 30, 2025. This is a Fixed Price Issue, with the company aiming to raise approximately ₹24.88 crores, entirely through a fresh issue. The offering includes equity shares with a face value of ₹10 each.

Laxmi India Finance

The Laxmi India Finance IPO will open on July 29, 2025, and close on July 31, 2025. The company is aiming to raise approximately ₹254.26 crores. The IPO includes a fresh issue of ₹165.17 crores and an offer for sale of up to 56,38,620 equity shares, each having a face value of ₹5.

The price band for the IPO is set between ₹150 and ₹158 per share.

Laxmi India Finance is a non-banking financial company (NBFC) specializing in vehicle and SME loans. The capital will help strengthen its lending portfolio and support growth.

Aditya Infotech

Aditya Infotech’s IPO will open on July 29, 2025, and close on July 31, 2025. The company aims to raise approximately ₹1,300 crores. This includes a fresh issue worth ₹500 crores and an offer for sale of up to 1,18,51,851 equity shares, each with a face value of ₹1.

Kaytex Fabrics

Kaytex Fabrics IPO is scheduled to open on July 29, 2025, and will close on July 31, 2025. The company has a plan to raise approximately ₹69.81 crores. This includes a fresh issue worth ₹57.59 crores and an offer for sale of up to 6,79,200 equity shares, each having a face value of ₹10. The price band for the IPO is set between ₹171 and ₹180 per share.

Sri Lotus Developers & Realty

Sri Lotus Developers & Realty IPO is coming on July 30 and will close on August 1st, 2025. This IPO consists of ₹792 crores issue size, a fresh issue of ₹792 crores, with a face value of ₹1 each. The price band is around ₹140 to ₹150 per share.

Sri Lotus Developers & Realty operates in real estate development, which has a focus on residential and commercial projects. The company plans to raise money through its IPO. Funds utilised would be for project development and general corporate purposes.

B.D. Industries

The B.D. Industries IPO will open on July 30, 2025, and close on August 1, 2025. It’s ₹45.36 crores entirely via a fresh issue. The offer includes equity shares with a face value of ₹10 each. The price band for the IPO is set between ₹102 and ₹108 per share.

NSDL

Here is the biggest news for people as the NSDL IPO is opening from July 30 to August 1st, 2025. The IPO price band has been set between ₹760 to ₹800 per share. The IPO consists of ₹4011.60 issue size, in which the offer for sale up to 5,01,45,001 equity shares with a face value of ₹2 each.

Depository firm NSDL makes a plan to launch an IPO. This IPO would be entirely OFS. Promoters will offload positions by selling their shares.

NSDL, one of the world’s largest depositories, was set up in August 1996. It has built a modern system that manages most of the securities in the Indian capital market in electronic (dematerialized) form.

Mehul Colours

Mehul Colours’ IPO will open on July 30, 2025, and close on August 1, 2025. The company plans to raise about ₹21.66 crores through this IPO. The entire amount will come from a fresh issue, while details of the offer for sale are yet to be disclosed. Each share has a face value of ₹10.

Takyon Networks

Takyon Networks IPO is on the list of July Month IPO, as it is opening on July 30, and will close on August 1, 2025. The company has a plan for the issue size of ₹20.48 crores, wherein the fresh issue is ₹20.48 crores along with the face value of ₹10 each. Takyon Networks’ IPO has set the price band ₹51 to ₹54 per share.

Cash Ur Drive Marketing

The latest July month IPO is Cash Ur Drive Marketing which is opening on July 31, 2025, and will close on August 04, 2025. In this IPO, the issue size of the IPO is ₹60.79 crores by combining fresh issue of ₹58.10 crores and offer for sale up to 2,07,000 equity shares with a face value of ₹10 each.

Renol Polychem

Renol Polychem IPO is scheduled to open on July 31, 2025, and will close on August 4, 2025. The company aims to raise approximately ₹25.77 crores. This includes a fresh issue worth ₹25.77 crores, along with a face value of ₹10 each.

Hero Fincorp

Hero Fiincorp IPO will be coming soon, along with all the details.

Hero Fincorp is one of the leading companies in terms of financial products and services. The company was founded in 1991.

Tea Post

The Tea Post IPO will open soon, along with the proper details of the IPO.

Founded in 2015 and starting its operations in 2016, Tea Post Limited is one of the largest players in the cafe market. Moreover, the company was founded in 2015, and after that year, operations started in 2016.

Victory Electric Vehicles

Founded in October 2018, Victory Electric Vehicles International Limited specializes in the design, production, and distribution of electric vehicles.

This IPO price range is ₹72 per share, and it consists fresh issue of ₹40.66 Cr, wherein 56,47,000 shares.

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 Investment’s share price was ₹5,760.00 on 24 February 2025.

After the Tata Capital IPO approval, this share jumped ₹6,213.40 on 25 February 2025, respectively. The company’s market capitalization stands at ₹31,460.16 crore.

Avanse Financial Services

Avanse Financial Services IPO is a book-built issue and is likely to generate around ₹3,500.00 crores through IPO, which is a combination of fresh issues of ₹1,000.00 crores and OFS ₹2,500.00 Cr with a face value of ₹5 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 ₹206.33 crores, which is an entirely fresh issue of ₹206.33 crores with a face value of ₹2 each.

The Rosmerta Digital Services IPO price band is ₹140 to ₹147 per share. An IPO has 3 main quotas, such as a retail quota is 35%, a QIB quota of 50%, and an HNI quota of 15%. This IPO is proposed to be listed on the BSE.

Solar91 Cleantech

Solar91 Cleantech’s IPO goal is to increase ₹106 crores via IPO, has a fresh issue of ₹106 crores with a face value of ₹10 each. Solar91 Cleantech IPO price band is ₹185 to ₹195 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 ₹1,500 crores and an offer for sale of up to 17,450,882 equity shares, each with a face value of ₹10.

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 ₹2,000 crores with a face value of ₹10 each.

Moreover, in the JSW Cement IPO, 35% of 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 ₹2000 and-2500 crore through the IPO.

In 2022, this company submitted a DRHP to launch an IPO for ₹2000 crores, in which they planned to raise ₹900 crores as a fresh issue and ₹1100 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 ₹1,000 crore through an IPO, which is a combination of a fresh issue of Rs 900 crore and an offer for sale worth ₹100 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.

Solarworld Energy

Solarworld Energy’s IPO is a main-board public offering of equity shares with a face value of ₹5 each, totaling up to ₹600 crore. Wherein, the fresh issue would be ₹550 crore, and OFS would be ₹50 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 ₹400.00 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.

Financially, the revenue of this company has also increased by ₹259.23 crores in 2024, which is higher than in 2023, which was ₹232.35 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 ₹1,750 crore.

SMPP

The SMPP IPO is a book-built issue totaling ₹4,000 crore. The IPO dates have not been announced yet, and the allotment date will also be announced soon.

SMPP Limited specializes in designing and producing defence equipment. The company makes ammunition parts, personal protective gear, and protection kits for use across land, air, and sea platforms.

Pine Labs

Pine Labs’ IPO is scheduled to open and close in 2025. The IPO includes a fresh issue of shares worth ₹2,600 crores and an offer for sale of up to 14,78,22,225 equity shares with a face value of ₹1 each.

Pine Lab’s revenue in 2024 was ₹1,382.63 crores, in contrast to 2023, it was ₹1,327.59 crores. The company reported a loss of ₹187.17 crores in 2024 against a loss of ₹56.24 crores in 2023.

Jagat Joshi

Founder of IPOWatch, brings nearly 15 years of experience in IPO analysis and market research. He provides complete coverage of upcoming IPOs, subscription trends, grey market premiums (GMP), and post-listing performance, along with easy-to-understand reviews, insights, and analysis. In his working journey, he has worked with various platforms and received expertise in stock market analysis and primary markets.