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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.
Dilip Davda

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.

Q-Line Biotech IPO

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 June 2025 | IPO Watch List 

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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.
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Upcoming IPO 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 June 2025 and ready to shake the stock market in June. 

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

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

Upcoming IPO Open DateClose DateType of IPOIPO SizePrice Band
3B FilmsMay 30June 3SME₹33.75 Cr.₹50
Ganga Bath FittingsJune 4June 6SME₹32.65 Cr.₹46 to ₹49 
SacheeromeJune 9June 11SME ₹61.62 Cr.₹96 to ₹102
Jainik Power and CablesJune 10June 12SME₹51.30 Cr.₹100 to ₹110
Oswal PumpsJune 13June 17Mainboard₹1,387.34 Cr.₹584 to ₹614
Aten PapersJune 13June 17SME₹31.68 Cr.₹91 to ₹96
Samay Project ServicesJune 16June 18SME₹14.69 Cr.₹32 to ₹34
Patil AutomationJune 16June 18SME₹69.61 Cr.₹114 to ₹120
Eppeltone EngineersJune 17June 19SME₹43.96 Cr.₹125 to ₹128
Influx HealthtechJune 18June 20SME₹58.57 Cr.₹91 to ₹96
Arisinfra SolutionsJune 18June 20Mainboard₹499.60 Cr.₹210 to ₹222
Safe Enterprises Retail FixturesJune 20June 24SME₹169.74 Cr.₹131 to ₹138
Mayasheel VenturesJune 20June 24SME₹27.28 Cr.₹44 to ₹47
Aakaar Medical TechnologiesJune 20June 24SME₹27 Cr.₹68 to ₹72
AJC JewelJune 23June 26SME₹14.59 Cr.₹90 to ₹95
KalpataruJune 24June 26Mainboard₹1,590 Cr.₹387 to ₹414
Globe Civil ProjectsJune 24June 26Mainboard₹119 Cr.₹67 to ₹71
Ellenbarrie Industrial GasesJune 24June 26Mainboard₹852.53 Cr.₹380 to ₹400
Icon FacilitatorsJune 24June 26SME₹18.15 Cr.₹85 to ₹91
Shri Hare-Krishna Sponge IronJune 24June 26SME₹29.91 Cr.₹56 to ₹59
Abram FoodJune 24June 26SME₹13.29 Cr.₹98
HDB FinancialJune 25June 27Mainboard₹12,500 Cr.₹700- ₹740
Sambhv Steel TubesJune 25June 27Mainboard₹540 Cr.₹77 to ₹82
Suntech Infra SolutionsJune 25June 27SME₹42.16 Cr.₹81 to ₹86
Supertech EVJune 25June 27SME₹29.90 Cr.₹87 to ₹92
Rama TelecomJune 25June 27SME₹25.13 Cr.₹65 to ₹68
Valencia IndiaJune 26June 30SME₹48.95 Cr.₹95 to ₹110
Moving Media EntertainmentJune 26June 30SME₹43.40 Cr.₹66 to ₹70
Indogulf CropsciencesJune 26June 30Mainboard₹200 Cr.₹105 to ₹110
Ace Alpha TechJune 26June 30SME₹47.15 Cr.₹101 to ₹107
PRO FX TechsJune 26June 30SME₹38.21 Cr.₹82 to ₹87
Neetu YoshiJune 27July 1SME₹77.04 Cr.₹71 to ₹75
Adcounty Media IndiaJune 27July 1SME₹50.69 Cr.₹80 to ₹85
Marc LoireJune 30July 2SME₹21.00 Cr.₹100
Cedaar TextileJune 30July 2SME₹60.90 Cr.₹130 to ₹140
Pushpa JewellersJune 30July 2SME₹98.65 Cr.₹143 to ₹147
Silky OverseasJune 30July 2SME₹30.68 Cr.₹153 to ₹161
Vandan FoodsJune 30July 2SME₹30.36 Cr.₹115
CrizacJuly 2July 4Mainboard₹860 Cr.TBA
Omnitech EngineeringTBATBAMainboard₹850 Cr.TBA
Hero FincorpTBATBAMainboardTBATBA
Tea PostTBATBAMainboardTBATBA
NSDL TBATBAMainboard₹3500 Cr. (Approx)TBA
Sri Lotus DevelopersTBATBAMainboardTBA TBA
Travel Food ServicesTBATBAMainboard₹2000 Cr.TBA
Laxmi India FinanceTBATBAMainboardTBATBA
Victory Electric VehiclesTBATBASME ₹40.66 Cr.₹72
Tata Capital  TBATBAMainboard₹15,000 Cr.TBA
Avanse FinancialTBATBAMainboard₹3,500.00 Cr.TBA
Rosmerta Digital ServicesTBATBASME₹206.33 Cr.₹140 to ₹147
Solar91 CleantechTBATBASME₹106 Cr.₹185 to ₹195
Vikram SolarTBATBAMainboard₹- Cr.TBA
JSW Cement TBATBAMainboard₹4000 Cr.TBA
BoAtTBATBAMainboard₹2000 Cr.TBA
Vikran EngineeringTBATBAMainboard₹1,000 Cr.TBA
Solarworld EnergyTBATBAMainboard₹600.00 Cr.TBA
Paras Healthcare  TBATBAMainboard₹- Cr.TBA
Arohan Financial TBATBAMainboard₹- Cr.TBA
SMPPTBATBAMainboard₹4,000 Cr.TBA

3B Films

3B Films IPO is opening on 30 May, 2025 and will close on 3 June, 2025. 3B Films has set a price band of ₹50 per share. This company has the aim to raise ₹33.75 crores, wherein the fresh issue of ₹17.76 crores and offer for sale up to 31,98,000 equity shares with a face value of ₹10 each. 

3B Films Private Limited is a private company that was set up on September 3, 2014, and began with the goal of improving the CPP films industry by using advanced technology and focusing on producing high-quality Cast Polypropylene (CPP) and Cast Polyethylene (CPE) films. 

Ganga Bath Fittings

Ganga Bath Fiittins IPO is opening on June 4, 2025, and closes on June 6, 2025. Moreover, it has a plan to raise around ₹32.65 crores, wherein a fresh issue of ₹32.65 crores with a face value of 10 each. 

Ganga Bath Fitting Limited, established in 2018, is a leading manufacturer and exporter of bathroom accessories. The products are CP taps and their parts, showers, bath accessories, Sanitary wear, ABS Shower, ABS Health faucet, ABS Taps, ABS Accessories, PTMT Taps, Door Handles, Bathroom Vanities, Bathroom Sinks, SS Showers, Shower Drains, SS Channel Drainer. 

Sacheerome

Sacheerome IPO is opening on June 9, 2025, and will close on June 11, 2025. Moreover, it has a plan to earn around ₹61.62 crores via IPO. Wherein, a fresh issue is 60,40,800 shares aggregating up to ₹61.62 Cr with the face value of ₹10 per share. This is an SME IPO and will be listed on the NSE platform. 

This was founded by promoter Mr Manoj Arora with the experience of 40 years in the Fragrance & Flavour industry. 

Jainik Power and Cables

Jainik Power and Cables IPO is opening on June 10 and will close on June 12, 2025. The IPO issue size is 46,63,200 shares with the face value of ₹10 per share. Wherein the fresh issue consists of 46,63,200 shares. The IPO will be listed on the NSE platform. 

Since 2023, Jainik Enterprises has been manufacturing aluminum wire roads with quality practices and compliance with Environmental, Health, and Safety (EHS) standards in the manufacturing industry. They were also engaged in the metal industry. 

Oswal Pumps

According to the RHP, the Oswal Pumps IPO is scheduled to open for bidding on June 13 and will close on June 17, 2025. However, the Price band and total issue size are yet to be announced. June 12, 2025, has been selected for anchor investors. 

Further, IIFL Capital Services Limited, Axis Capital Limited, CLSA India Private Limited, JM Financial Limited, and Nuvama Wealth Management Limited are the lead managers for the IPO. MUFG Intime India Private Limited is assigned as the IPO registrar. 

Oswal Pumps stands among the top companies in pump manufacturing and distribution. The company provides a wide variety of products for home, farming, and industrial use, such as solar pumps, submersible pumps, monoblock pumps, pressure pumps, sewage pumps, electric motors, submersible wires and cables, and electric panels.

Monolithisch India 

Monolithisch India IPO is opening from June 12 to June 16, 2025. Moreover, this IPO has a total issue size of ₹82.02 crore, comprising a fresh issue of ₹82.02 crore with a face value of ₹10 per share. The price band of Monolithisch India is ₹135 to ₹143 per share. 

Established in August 2018, Monolithisch India Limited is engaged in the production and distribution of specialized “ramming mass,” a heat-insulating refractory material utilized in induction furnaces within the iron and steel industry.

Aten Papers and Foam 

The Aten Papers and Foam IPO will open on June 13 and will close on June 17, 2025. Further, Swastika Investment Limited is assigned as the lead manager of this IPO. In the Aten Papers and the 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.

Samay Project Services

Samay Project Services IPO is opening on June 16 and will close on June 18, 2025. Moreover, the price band range is ₹32 to ₹34 per share. The total issue size is ₹14.69 Cr. Wherein, a fresh issue is ₹14.69 Cr with the face value of ₹10 per share. 

Samay Project Services Limited is one of the top firms in terms of offering Engineering, Procurement, and Construction (EPC) services.

Patil Automation

Patil Automation IPO is opening from June 16 to June 18, 2025. The IPO has a total issue size of ₹69.61 Cr, wherein the fresh issue is ₹69.61 Cr, with a face value of 10 per share. The price band of the Patil Automation is ₹114 to ₹120 per share. The IPO is going to list on the NSE platform. 

Founded in 2015, Patil Automation Limited focuses on providing welding and line automation solutions.

Eppeltone Engineers 

Eppeltone Engineers Limited IPO is opening from June 17 to June 19, 2025, and the total issue size is ₹43.96 Cr, consisting of a fresh issue of ₹43.96 Cr with a face value of ₹10 per share. 

Eppeltone Engineers Limited specializes in manufacturing electronic energy meters, and it was established in 1977.

Influx Healthtech

Influx Healthtech is going to launch an SME IPO, which is opening on June 18 and will close on June 20, 2025. The price band of the Influx Healthtech IPO is ₹91 – ₹96 per share. 

Moreover, Influx Healthtech IPO’s total issue size is ₹58.57 crore, wherein the fresh issue is 48 crore, and OFS is ₹10.56 crore. 

One of the premier companies, Influx Healthtech, which is based in Mumbai, is going to launch an IPO. It makes healthcare-related products; it manufactures products for other companies.

ArisInfra Solutions

Arisinfra Solution IPO is opening on 18th June and will close on 20th June 2025. Arisinfra Solutions’ IPO price band is ₹210 to ₹222 per share. Further, ArisInfra Solutions’ IPO’s total issue size is ₹499.60 crores. Moreover, Arisinfra Solutions’ IPO listing will be on June 25, 2025. 

ArisInfra Solutions Limited is one of the growing companies focused on operating a construction materials market business.

Safe Enterprises Retail Fixtures

Safe Enterprises Retail Fixtures IPO is opening on June 20, 2025, and will close on June 24, 2025. Moreover, Safe Enterprises has aimed to raise around ₹169.74 crores in a fresh issue of ₹169.74 crores with the face value of ₹5 each. 

The company reported revenue of ₹101.38 crores in 2024. The company reported a profit of ₹23.09 crores in 2024. As per the financials, the IPO investors should apply for the IPO for the long term.

Mayasheel Ventures

Mayasheel Ventures IPO is scheduled to open on June 20, 2025, and will close on June 24, 2025. It has goal is to raise approximately ₹27.28 crores. This amount will be raised entirely through a fresh issue of shares worth ₹27.28 crores with a face value of ₹10. 

Maysheel Ventures is one of the leading companies for the construction of roads and highways for the National Highways and Infrastructure Development Corporation and various government departments.

Aakaar Medical Technologies

The latest SME IPO, Aakaar Medical Technologies, is opening from June 20 to June 24, 2025. Moreover, the company wants to raise around 27 crores through the fresh issue of ₹27 crores with a face value of 10 each. Aakaar Medical Technologies’ IPO price band is ₹68 to ₹72 per share. 

Aakaar Medical Technologies Ltd. was founded in 2013 to provide cosmetic and medical devices.

Safe Enterprises Retail Fixtures

Safe Enterprises Retail Fixtures IPO is opening on June 20, 2025, and will close on June 24, 2025. Moreover, Safe Enterprises has aimed to raise around ₹169.74 crores in a fresh issue of ₹169.74 crores with the face value of ₹5 each. 

The company reported revenue of ₹101.38 crores in 2024. The company reported a profit of ₹23.09 crores in 2024. As per the financials, the IPO investors should apply for the IPO for the long term.

Mayasheel Ventures

Mayasheel Ventures IPO is scheduled to open on June 20, 2025, and will close on June 24, 2025. It has goal is to raise approximately ₹27.28 crores. This amount will be raised entirely through a fresh issue of shares worth ₹27.28 crores with a face value of ₹10. 

Maysheel Ventures is one of the leading companies for the construction of roads and highways for the National Highways and Infrastructure Development Corporation and various government departments.

AJC Jewel

AJC Jewel IPO will open on June 23 and will close on June 26, 2025. Moreover, the company is running with the intention of raising around ₹14.59 crore, of which the fresh issue is ₹14.59 crore with the face value of ₹10 per share. The price band of this IPO is ₹90 to ₹95 Per Share. 

AJC Jewel Ltd was started by its founder, Mr. Kunhimohamed Perinkadakkat, in 1999. Building on this foundation, the business saw significant growth in 2018, rebranding as ‘AJC Jewel Manufacturers Ltd.

Icon Facilitators

Icon Facilitators IPO is opening on June 24, 2025, and will close on June 26, 2025. Moreover, the company needs to raise around ₹18.15 crores through a fresh issue of ₹18.15 crores with a face value of ₹10 each.

Icon Facilitators is one of the leading companies in terms of delivering technical facilities management services to its clients. 

The promoters of the company are Mr. Dinesh Makhija and Ms. Pooja Makhija.

Shri Hare-Krishna Sponge Iron

Shri Hare-Krishna Sponge Iron IPO opening is June 24, 2025, and will close on June 26, 2025. Moreover, the company is to raise around  ₹29.91 crores, wherein a fresh issue of ₹29.91 crores with a face value of ₹10 each. The price band range is ₹56 to ₹59 per share with the face value of ₹10 per share. 

Shri Hare-Krishna Sponge Iron Limited, founded in 2003, is a prominent company involved in the manufacturing and selling of Sponge Iron.

Kalpataru

The Kalpataru IPO opens on approximately June 24, 2025, and will close on June 26, 2025. The company aims to raise approximately ₹1,590 crore. The IPO consists entirely of a fresh issue totaling ₹1,590 crore, along with a face value of ₹10. 

Established in 1988 in Mumbai, Maharashtra, Kalpataru Limited is a rapidly expanding real estate development company. 

Globe Civil Projects

Globe Civil Projects IPO is coming from June 24, 2025, to June 26, 2025. However, the company’s issue size has not been declared yet. The IPO is going to list on both the NSE and the BSE stock exchanges. 

Financial background of Globe Civil Projects, wherein revenue ₹334.81 crores in 2024 in comparison to ₹235.17 crores in 2023. The profit of ₹15.38 crores in 2024 is in contrast to ₹4.85 crores in 2023.

Ellenbarrie Industrial

Ellenbarrie Industrial IPO is opening on June 24 and will close on June 26, 2025. The IPO is listed on the main board as it is going to be listed on both the BSE and the NSE stock exchanges. Moreover, the IPO has an issue size of around ₹852.53 Cr (Approx). The price band range is ₹380 – ₹400 per share. 

Ellenbarrie Industrial Gases is launching an IPO soon, and it will be a mainboard IPO listed on both stock exchanges. 

Ellenbarrie Industrial Gases Limited was founded in 1973 and has now become one of the top companies in terms of  Industrial, medical, and specialty gases.

HDB Finance

HDB Financial IPO opening on June 25, 2025 and the IPO will close on June 27, 2025. Further, the company plans to raise around ₹12,500 crores via IPO that comprises a fresh issue of ₹2,500 crores and offer for sale up to [.] equity shares with a face value of ₹10 each. 

HDB Financial Services, established in 2007, is a rapidly growing, diversified, retail-focused Non-Banking Financial Company (NBFC) classified under the Upper Layer category in India.

Sambhv Steel Tubes

Sambhv Steel Tubes IPO is opening on June 25, 2025, and will close on June 27, 2025. Moreover, it is going to raise around ₹540 crores, wherein a fresh issue of ₹440 crores and offer for sale of up to 1,21,95,121 equity shares with a face value of ₹10 each. 

In this IPO, the retail minimum category investor would receive 182 shares in one lot size. While the retail maximum of 2366 shares in a 13-lot size. Moreover, 2,548 shares will be available in 14 lots of size, while 12,376 shares in 68 lot sizes.

Suntech Infra Solutions

Suntech Infra Solutions IPO is opening from June 25 to June 27, 2025, with the IPO issue size of ₹42.16 Cr, wherein the fresh issue is ₹31.95 Cr and OFS is ₹10.21 Cr. 

Suntech Infra Solutions’ IPO price band is set at ₹81 to ₹86 per share.

Suntech Infra Solutions Limited, started in April 2009, is a B2B (business-to-business) construction company. It offers civil construction services like building foundations and structures. The company works by taking direct contracts, giving work to subcontractors, and also renting out construction equipment.

Supertech EV

Supertech EV IPO is opening on June 25, 2025, and will close on June 27, 2025. Moreover, the company has decided to raise around 29.90 crores through wherein fresh issue of ₹29.90 crores with a face value of ₹10 each. 

Rama Telecom

Rama Telecom IPO is opening on June 25, 2025 will close on June 27, 2025. Moreover, the company has decided to raise around ₹25.13 crores through a fresh issue of ₹25.13 crores with the face value of ₹10 each. The price band is set around ₹65 to ₹68 per share. 

Rama Telecom Limited, founded in July 2004, is a prominent company to offers customized E2E networking solutions in the Telecom & Datacom forefront.

Ace Alpha Tech

Ace Alpha Tech IPO is opening on June 26 and will close on June 30, 2025. The IPO is coming with the aim of raising around  ₹47.15 crores, wherein a fresh issue of ₹35.14 crores and an offer for sale up to 11,22,000 equity shares with a face value of ₹10 each. Further, the price band range is ₹101 to ₹107 per share.

Moving Media Entertainment

Moving Media Entertainment IPO is opening on June 26, 2025, and will close on June 30, 2025. The company is going to raise around ₹43.40 crores, wherein the fresh issue is ₹43.40 crores with a face value of ₹10 each. 

Moving Media Entertainment Limited is one of the leading companies in terms of renting camera and lens equipment to the media and entertainment industry. 

PRO FX Techs 

PRO FX Tech IPO is opening on June 26, 2025, and will close on June 30, 2025. Further, it has set to raise around ₹38.21 crores, wherein the fresh issue is ₹38.21 crores with the face value of ₹10 each.  

The company earned ₹130.05 crores in revenue in 2025, up from ₹110.94 crores in 2024. Its profit also increased to ₹12.24 crores in 2025 from ₹9.44 crores in 2024.

Valencia India

Valencia India IPO is opening on June 26, 2025, and will close on June 30, 2025. The company will raise around ₹48.95 crores, wherein the fresh issue is ₹41.54 crores and offer for sale up to 4,50,000 equity shares with a face value of ₹10 each. 

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.

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. 

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. 

As per the sources, the offering only includes the OFS of 5.01 crore 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. 

Sri Lotus Developers & Realty

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. 

As per the sources, the Sri Lotus Developers & Realty IPO date has yet to be announced. 

Travel Food Services 

AS per the sources, Travel Food Services IPO issue size is estimated at ₹2,000 crore, wherein fresh issue will not be and the IPO money will be taken by the selling shareholders. 

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

Laxmi India Finance

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

Laxmi India Finance IPO consists of 1,04,53,575 shares of the fresh issue, and OFS would be 56,38,620 shares with a face value of ₹5. 

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. 

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.

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. 

Ellenbarrie Industrial Gases

Ellenbarrie Industrial Gases is launching an IPO soon, and it will be a mainboard IPO listed on both stock exchanges. 

Ellenbarrie Industrial Gases Limited was founded in 1973 and has now become one of the top companies in terms of  Industrial, medical, and specialty gases.





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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.
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Jagat Joshi

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