It looks like Avanse Financial, Arunaya Organics Ltd., and JSW Cement are some of the IPOs expected to launch with amounts ā¹3,500.00 Cr.,ā¹33.99 crores, and 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 May 2025 and ready to shake the stock market in May.
Since market sentiment was not satisfactory, various IPOs were not listed as expected, whereas many IPOs were also SME and Mainline.
Here are the May IPO 2025 details. Letās find out the current Mainboard and SME IPOs that open this May and in the forthcoming weeks in one place.
| Upcoming IPO | Open Date | Close Date | Type of IPO | IPO Size | Price Band |
| Arunaya Organics | 29 April | 2nd May | SME | ā¹33.99 Cr. | ā¹55 to ā¹58 |
| Kenrik Industries | 29 April | 6 May | SME | ā¹8.75 Cr. | ā¹25 |
| Wagons Learning | 2 May | 6 May | SME | ā¹38.38 Cr. | ā¹78 to ā¹82 |
| Srigee DLM | 5 May | 7 May | SME | ā¹16.98 Cr. | ā¹94 to ā¹99 |
| Manoj Jewellers | 5 May | 7 May | SME | ā¹16.20 Cr. | ā¹54 |
| Virtual Galaxy Infotech | 9 May | 14 May | SME | ā¹93.29 Cr. | ā¹135 to ā¹142 |
| Integrity Infrabuild Developers | 13 May | 15 May | SME | ā¹12.00 Cr. | ā¹100 |
| Accretion Pharmaceuticals | 14 May | 16 May | SME | ā¹29.75 Cr. | ā¹96 to ā¹101 |
| Borana Weaves | 20 May | 22 May | Mainboard | ā¹144.89 Cr. | ā¹205 to ā¹216 |
| Dar Credit & Capital | 21 May | 23 May | SME | ā¹25.66 Cr. | ā¹57 to ā¹60 |
| Belrise Industries | 21 May | 21 May | Mainboard | ā¹2,150 Cr. | ā¹85 to ā¹90 |
| Unified Data- Tech | 21 May | 21 May | SME | ā¹144.47 Cr. | ā¹260 to ā¹273 |
| Leela Hotels | 26 May | 28 May | Mainboard | ā¹3,500 Cr. | ā¹413 to ā¹435 |
| Aegis Vopak Terminals | 26 May | 28 May | Mainboard | ā¹2,800 Cr. | ā¹223 to ā¹235 |
| Prostarm Info Systems | May 27 | 29 May | Mainboard | ā¹168.00 Cr. | ā¹95 to ā¹105 |
| Blue Water Logistics | 27 May | 29 May | SME | ā¹40.50 Cr. | ā¹132 to ā¹135 |
| Astonea Labs | 27 May | 29 May | SME | ā¹37.67 Cr. | ā¹128 to ā¹135 |
| Nikita Papers | 27 May | 29 May | SME | ā¹67.54 Cr. | ā¹95 to ā¹104 |
| Scoda tubes | 28 May | 30 May | Mainboard | ā¹220 Cr. | ā¹130 to ā¹140 |
| NR Vandana Textile | 28 May | 30 May | SME | ā¹27.89 Cr. | ā¹42 to ā¹45 |
| 3B Films | 30 May | 3 June | SME | ā¹33.75 Cr. | ā¹50 |
| Victory Electric Vehicles | TBA | TBA | SME | ā¹40.66 Cr. | ā¹72 |
| Aten Papers | TBA | TBA | SME | ā¹31.68 Cr. | ā¹91 to ā¹96 |
| Tata Capital | TBA | TBA | Mainboard | ā¹15,000 Cr | 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 | ā¹2000 Cr. | TBA |
| Vikran Engineering | TBA | TBA | Mainboard | ā¹1,000 Cr. | TBA |
| Solarworld Energy | TBA | TBA | Mainboard | ā¹600.00 Cr. | TBA |
| NSDL | TBA | TBA | Mainboard | TBA | TBA |
| Arisinfra Solutions | TBA | TBA | Mainboard | TBA | TBA |
| Paras Healthcare | TBA | TBA | Mainboard | TBA | TBA |
| Arohan Financial | TBA | TBA | Mainboard | TBA | TBA |
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 traditional Indian jewelry. They are experts in handmade gold pieces and stones like diamonds, rubies, and cubic zirconia.
Wagoans Learnings
Wagons Learning IPO is the latest IPO, May 2025, will open on May 2, 2025, and close on May 6, 2025. This is a mixture of fresh issue and OFS, wherein the fresh issue of shares is worth ā¹25.26 crores and an offer for sale (OFS) of up to 16,00,000 equity shares, each having a face value of ā¹10.
Established in 2013, Wagons Learning Limited is well-known for delivering corporate training, digital education, and skill enhancement services.
Srigee DLM
Srigee DLM IPO is an upcoming IPO May 2025 will open on May 5, 2025, and close on May 7, 2025. It is a book-built issue through which the company aims to raise approximately ā¹16.98 crores, entirely through a fresh issue of shares.
Srigee DLM IPO price band range is ā¹94 to ā¹99 per share, and Srigee DLM IPO listing date is 12 May 2025 on the BSE stock exchange.
Manoj Jewellers
The Manoj Jewellers IPO is scheduled to open on May 5, 2025, and close on May 7, 2025. This is a fixed price issue, through which the company plans to raise approximately ā¹16.20 crores, entirely through a fresh issue of shares. The offer also includes an offer for sale (OFS) of an unspecified number of equity shares, each with a face value of ā¹10.
Virtual Galaxy Infotech
Virtual Galaxy IPO is the latest IPO, which opened on 9 May 2025 and closed on 14 May 2025. It has a price band range of ā¹135 ā ā¹142. This IPO is a fresh issue with the equity shares of 65,70,000.
Virtual Galaxy Infotech is a technology company that focuses on SaaS-based solutions. It provides core banking software, IT services, ERP implementation, and custom software development.
Integrity Infrabuild Developers
Integrity Infrabuild Developers is launching its IPO from May 13 to May 15, 2025. It is a Fixed Price Issue, and the company aims to raise around ā¹12 crore through this public offering. Investors can subscribe to the IPO during these three days.
In 2024, the company generated a revenue of ā¹64.63 crores, up from ā¹45.23 crores in 2023. Its net profit also increased to ā¹0.95 crores in 2024, compared to ā¹0.29 crores in the previous year.
Accretion Pharmaceuticals
Accretion Pharmaceuticals is an SME IPO that is opening on May 14, 2025, and closes on May 16, 2025. Accretion Pharmaceuticals has decided price range of ā¹96 to ā¹101.
Jawa Capital Services Private Limited is the book-running lead manager of the Accretion Pharmaceuticals IPO, while Kfin Technologies Limited is the registrar for the issue.
Accretion Pharmaceuticals was founded in 2012 and is involved in manufacturing and selling tablets, capsules, and other healthcare products.
Borana Weaves
The upcoming Mainboard IPO is coming on 20th May 2025 and closing on 22nd May 2025. As per the sources, Borana Weaves Limited is launching 70,00,000 equity shares via Fresh Issue along with a face value of ā¹10.
Borana Weaves Ltd. is a reputable textile manufacturer, offering a streamlined process that takes materials from fibre to finished fabric all in one location.
Dar Credit & Capital
The Dar credit & credential IPO is opening on 21 May 2025, and the closing date is 23rd May 2025. Moreover, the total IPO size is ā¹ 25.66 crore, wherein 42,76,000 shares are included. Dar Credit & Capital IPO entirely consists fresh issue of ā¹ ā¹25.66 crore along with the face value of ā¹10 per share.
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.
Belrise Industries
Belrise Industries IPO is opening on 21st May and closing on 23rd May 2025. Belrise Industries’ IPO has a price and range of ā¹85 to ā¹90 per share. Moreover, this company is going to raise around ā¹2,150 crores, wherein the IPO will be an entirely fresh issue of ā¹2,150 crores.
Additionally, the Belrise Industries is the latest May 2025 IPO, and it might be an opportunity to earn a profit.
Unified Data- Tech
Unified Data Tech Solutions Ltd is one of the leading companies in IT services. It is now going to launch an IPO, opening on 22 May 2025, and the closing date is 26 May 2025. Moreover, it has set the price band ā¹260- ā¹273, and its issue size is ā¹144.47 Cr.
Founded in 2010, Unified Data-Tech Solutions Private Limited (UDTechs) is an IT services company based in Mumbai, focused on providing tailored and innovative technology solutions.
Leela Hotels
Leela Hotels IPO is opening on 26 May and will close on 28 May 2025. Leela Hotels has set a price band for its IPO is ā¹413 to ā¹435 per share. Wherein the fresh issue is 5.75 crore shares, and OFS would be 2.30 crore shares.
In 2024, the company recorded a revenue of ā¹1,226.5 crores, up from ā¹903.27 crores in 2023. The net loss also narrowed significantly to ā¹2.13 crores in 2024, compared to a loss of ā¹61.68 crores in the previous year.
It specializes in owning, operating, and developing luxury hotels and resorts, delivering premium accommodations and personalized experiences rooted in the richness of Indian hospitality.
Aegis Vopak Terminals
Aegis Vopak terminals is an upcoming May 2025 IPO, which will open on May 26 and close on May 28, 2025. Aegis Vopak company will earn around ā¹2,800 crores via a fresh issue with a face value of ā¹10 each.
This IPO is going to be listed on the BSE and NSE platforms.
The Aegis Vopak Terminals IPO is set to be listed on the BSE and NSE on June 2, 2025. The share allotment for the IPO will take place on May 29, 2025.
Aegis Vopak Terminals Limited, founded in 2013, is a company that runs storage terminals for liquefied petroleum gas (LPG) and other liquid products.
Prostarm Info Systems
Prostarm Info Systems IPO is considering the latest in May 2025, opening on May 27, 2025, and the IPO will close on May 29, 2025.
Prostarm Info Systems company is going to raise ā¹168.00 crores via a fresh issue with the face value of 10 each. This IPO price band range is ā¹95 to ā¹105 per share.
Prostarm Info Systems is one of the leading companies in terms of designing, making, and selling energy storage and power conditioning equipment.
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.
Blue Water Logistics
Blue Water Logistics is one of the leading companies in terms of Supply Chain Management and operates extensively across states in India.
Blue Water Logistics IPO is the latest Mainboard May 2025 IPO, which is opening on 27th May 2025, and it will close on 29th May 2025. This IPO has consisted of a fresh issue of ā¹40.5 crore with a face value of ā¹10 per share.
Astonea Labs
Astonea Labs IPO is opening on May 27, 2025, to May 29, 2025, intending to raise ā¹37.67 via a fresh issue. The price band range is ā¹128 to ā¹135 per share.
Founded in 2017, Astonea Labs Ltd. specializes in contract manufacturing of pharmaceutical and cosmetic products for clients in India as well as abroad.
Nikita Papers
The Nikita Papers IPO is scheduled to open on May 27, 2025, and will close on May 29, 2025. It is a Book Build Issue, aiming to raise approximately ā¹67.54 crores. The IPO includes a fresh issue worth ā¹67.54 crores with a face value of ā¹10 each.
In 2024, the company posted a revenue of ā¹346.78 crores, down from ā¹401.31 crores in 2023. However, its profit increased to ā¹16.60 crores in 2024, compared to ā¹8.65 crores in the previous year.
Scoda Tubes
Scoda Tubes IPO is opening on 28 May 2025 and it will be closed on 30 May 2025. This IPO has a band range of ā¹130 to ā¹140 per share.
It also has pre-IPO investors, Malabar India Fund Limited, and Carnelian Bharat Amritkaal Fund invested ā¹550 Million.
Neptune Petrochemical
Neptune Petrochemicals IPO is scheduled to open on May 28, 2025, and will close on May 30, 2025. The company wants to earn around ā¹73.20 crores via a fresh issue with a face value of ā¹10. The Neptune Petrochemicals IPO price band is ā¹115 to ā¹122 per share.
Neptune Petrochemicals manufactures and trades bitumen products, including bitumen emulsions, micro-surfacing emulsions, and similar materials.
NR Vandana Textile
NR Vandana Textile IPO is opening on May 28 and will close on May 30, 2025. Moreover, this company wants to earn around ā¹27.89 crores via a fresh issue of ā¹27.89 crores along with the face value of ā¹10 each. Its price band is ā¹42 to ā¹45 per share.
Marwadi Chandarana Intermediaries Brokers Pvt. Ltd is the lead manager of this IPO.
N R Vandana Textile Industries Ltd, started in 1992, is a well-known company that designs, makes, and sells cotton products in bulk.
3B Films
3B Films IPO is opening on 30 May and will close on 3 June 2025. 3B Films has set a price band of ā¹50 per share. This company has the aim to raise ā¹33.75 crores, wherein the fresh issue of ā¹17.76 crores and offer for sale up to 31,98,000 equity shares with a face value of ā¹10 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.
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 ā¹72 per share, and it consists fresh issue of ā¹40.66 Cr, wherein 56,47,000 shares.
Aten Papers
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.
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 capitalization stands at ā¹31,460.16 crore.
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 Companies).
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 quota of 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% 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 ā¹2000 and-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.
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.
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.
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
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.
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.
