Four major IPOs worth ₹6,688 cr to hit D-Street this week; Belrise Industries to make debut

This week is going to be action-packed for the primary market as four mainboard companies, including Leela Palaces Hotels & Resorts operator Schloss Bangalore and Aegis Vopak Terminals will hit Dalal Street to raise collectively ₹6,688 crore by public listing of shares on domestic bourses. The initial public offerings (IPOs) of Prostar Info Systems and Scoda Tubes will open for subscription this week. The market will also see the listing of Belrise Industries on the BSE and NSE on May 29, which received 41.3 times bidding for its ₹2,150 crore issue size.

Here’s all you need to know about these IPOs:

Schloss Bangalore IPO

The three-day IPO of Schloss Bangalore, which owns luxury hospitality brand 'The Leela' Palaces, Hotels and Resorts, will open for subscription today and the issue will close on May 28. The allotment of shares to eligible applicants is expected to be finalised on May 29, while shares are slated to be listed on the BSE, NSE on June 2, 2025.

The company has set price band at ₹413-435 per share for the public issue, looking to raise ₹3,500 crore at the upper end of the issue price, valuing the company at around ₹10,155 crore. The IPO is a combination of fresh issue of 5.75 crore shares amounting to ₹2,500 crore and offer for sale of 2.30 crore shares worth ₹1,000 crore by selling shareholders.

Ahead of opening of the IPO, Brookfield-backed luxury hotel chain operator last week raised ₹1,575 crore from anchor investors, including domestic and global investors, at upper end of the price band at ₹435 per share.

Aegis Vopak Terminals IPO

The chemicals and oil storage and logistics solutions provider, a joint venture between Aegis Logistics of India and Royal Vopak of the Netherlands, proposes to raise ₹2,800 crore via IPO route, which is entirely a fresh issue of 11.91 crore shares. The public issue will open for subscription on May 26 and closes on May 28, 2025. The allotment of shares is expected to be finalised on May 29, while tentative date for listing of stocks on the BSE and NSE is June 2, 2025.

The IPO price band has been fixed at ₹223 to ₹235 per share and the minimum lot size for an application is 63. The company is valued at around ₹26,000 crore at the upper end of the price band.

A subsidiary of Aegis Logistics, the company last week raised ₹1,260 crore from anchor investors by allotting 5,36,17,021 equity shares to 32 funds at the upper price band of ₹235 per equity share.

Scoda Tubes IPO

The IPO of stainless-steel tubes and pipes manufacturer will open for public subscription on May 28 and conclude on May 30, while the shares are expected to make their debut on the BSE and NSE on June 4, 2025.

The Gujarat-based company has fixed a price band of ₹130-140 per share for its ₹220 crore IPO, which is entirely a fresh issue of equity shares with no offer for sale (OFS) component.

The company intends to use IPO proceeds to expand the production capacity of seamless and welded tubes and pipes, working capital requirements and general corporate purposes.

Prostar Info Systems IPO

The IPO of Maharashtra-based power solutions products manufacturing company will open for subscription on May 27 and close on May 29. The shares of Prostarm Info Systems are expected to be listed on the BSE and NSE on June 3, 2025.

The company looks to raise ₹168 crore via IPO, which is entirely a fresh issue of 1.60 crore shares. It has set price band at ₹95 to ₹105 per share, and the minimum lot size for an application is 142.

Prostar Info Systems proposes to utilise the net proceeds from the issue for funding working capital requirements; prepayment certain outstanding borrowings; achieving inorganic growth through unidentified acquisitions; and general corporate purposes.

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