The upcoming week is set to be action-packed for the primary market, with a flurry of initial public offerings (IPOs), including both mainboard and small and medium enterprises (SMEs), lined up to hit D-Street. In the mainboard segment, IndiQube Spaces, GNG Electronics, National Securities Depository Limited (NSDL), and Brigade Hotel Ventures are set to launch their public issues, looking to collectively raise over ₹5,000 crore. While IndiQube Spaces and GNG Electronics have already announced their price bands last week, Brigade Hotel Ventures and NSDL are expected to unveil IPO details early next week.

According to reports, Shanti Gold International and PropShare Titania REIT are also planning to hit the Street next week. Besides, the Anthem Biosciences IPO is scheduled to debut on the domestic exchanges on July 21, 2025. 

In the SME space, engineering components maker Swastika Castal, real estate and infrastructure-focussed Savy Infra, Monarch Surveyors, TSC India, and Patel Chem Specialities will be launching their IPOs.  

Here’s is all you need to know about the upcoming IPOs:

IndiQube Spaces IPO

The ₹700 crore public issue of the managed workplace solutions company will open on July 23 and close on July 25, while its shares are expected to be listed on the BSE and the NSE on July 30, 2025. The IPO, having a price band of ₹225-237 per share, comprises a fresh issue of ₹650 crore and an offer for sale (OFS) of ₹50 crore by the promoters, Rishi Das and Meghna Agarwal.

Of the total fresh equity capital proceeds, ₹462.6 crore will be used for setting up new centres, repayment of debt with ₹93 crore, and the rest for general corporate purposes.

During 2018 and 2022, the company had raised ₹324 crore led by WestBridge Capital with ₹190 crore, followed by promoter investment of ₹131 crore and the remaining from angel investor Ashish Gupta.

GNG Electronics IPO

GNG Electronics, India’s largest laptop and desktop refurbisher, is set to launch its IPO on July 23, with a price band of ₹225-237 per share. The three-day IPO, which will close on July 25, comprises a fresh issue of equity shares worth ₹400 crore and an OFS of 25.5 lakh shares by the promoters.

The company aims to raise ₹460.44 crore at the upper end of the price band, while its market value is pegged at around ₹2,702 crore.

The anchor book for institutional investors will open a day earlier on July 22. The shares of GNG Electronics are expected to be listed on both the BSE and the NSE on July 30, while allotments are expected to be finalised on July 28.

NSDL IPO

NSDL, a market infrastructure institution, is likely to announce its price band on July 22, and the IPO will open between July 24 and July 28. The public offer is completely an offer for sale from key investors, including National Stock Exchange (NSE), HDFC Bank, SBI, IDBI Bank, and SUUTI. The company plans to issue up to over 5 crore equity shares of face value of ₹2 each, and is looking to raise around ₹3,400 crore, according to reports.

IDBI Bank and NSE are among the largest shareholders in NSDL, owning 26%, and 24% stakes in the company, respectively. HDFC Bank (8.95%), State Bank of India (5%), Union Bank of India (2.8%) and Canara Bank (2.3%) are other key stakeholders.

Brigade Hotel IPO

Brigade Hotel Ventures, a wholly-owned subsidiary of Brigade Enterprises (BEL), is poised to launch its IPO next week, while the price band is expected to be announced on Monday. According to the DRHP, the Brigade Hotel IPO is entirely a fresh issue of equity shares with a face value of ₹10 each, amounting to ₹900 crore. This has now reduced to ₹774 crore after it raised ₹126 crore through a pre-IPO placement round recently.

The company intends to use the IPO proceed for debt repayment, land acquisition, and business expansion. The funds will be mainly used to repay debt (₹481 crore), while ₹107.5 crore will be utilised for acquiring undivided share of land from its promoter, Brigade Enterprises. The remaining funds will be used for inorganic growth opportunities and other general corporate purposes.