Upcoming Initial Public Offerings (IPOs) on Dalal Street: Week of June 23–28, 2025
The forthcoming week is poised to be a period of heightened activity within the Indian primary market. A significant cohort of twelve companies is scheduled to launch their Initial Public Offerings (IPOs), collectively aiming to secure approximately ₹15,800 crore in capital. This substantial surge in IPO volume, particularly for IPOs Next Week On Dalal Street, is indicative of robust investor sentiment and the prevailing buoyancy within the secondary markets, potentially positioning the first half of Fiscal Year 2026 for record fundraising through public issues. This report provides a comprehensive overview of these upcoming IPOs, detailing their structures, key financial parameters, and market relevance.
Mainboard IPOs Scheduled for Commencement Next Week
The primary market will witness the introduction of several prominent entities on the mainboard exchanges (BSE and NSE). These offerings represent diverse sectors and substantial capital-raising endeavours.
1. HDB Financial Services IPO
As a subsidiary of HDFC Bank, HDB Financial Services‘ IPO represents the largest public offering to date in the current fiscal year, commanding significant market attention.
HDB Financial Services IPO: Key Parameters
| Parameter | Specification |
|---|---|
| Issue Size | ₹12,500 crore |
| Offer Structure | Fresh issue (33.8 million equity shares / ₹2,500 crore) and Offer for Sale (135.1 million equity shares / ₹10,000 crore) |
| Price Band | ₹700 – ₹740 per share |
| Face Value | ₹10 per share |
| Lot Size | 20 shares (and multiples thereof) |
| Subscription Period | June 25 – 27, 2025 |
| Anchor Investor Allocation | June 24, 2025 |
Reservation Structure:
- Qualified Institutional Buyers (QIB): Not exceeding 50% of the net offer.
- Non-Institutional Investors (NII): Not less than 15% of the net offer.
- Retail Individual Investors (RII): Not less than 35% of the net offer.
- Employee Reservation: Equity shares aggregating up to ₹20 crore.
- HDFC Bank Shareholder Reservation: Equity shares aggregating up to ₹1,250 crore.
Also Read :-Scoda Tubes IPO Listing: Robust Debut Signals Investor Confidence
2. Kalpataru Limited IPO
Kalpataru Limited, a well-established real estate development firm with a significant presence in the Mumbai Metropolitan Region (MMR), is scheduled to open its IPO on June 24.
Kalpataru Limited IPO: Key Parameters
| Parameter | Specification |
|---|---|
| Issue Size | ₹1,590 crore (entirely fresh issue of 3.84 crore shares) |
| Price Band | ₹387 – ₹414 per share |
| Face Value | ₹10 per share |
| Lot Size | 36 shares (minimum investment of ₹14,904) |
| Subscription Period | June 24 – 26, 2025 |
| Expected Allotment Date | June 27, 2025 |
| Listing | BSE & NSE |
Reservation Structure:
- Retail: Not exceeding 10% of the net offer.
- QIB: Not exceeding 75% of the net offer.
- NII: Not exceeding 15% of the net offer.
The IPO management consortium includes ICICI Securities, JM Financial, and Nomura Financial Advisory and Securities (India) as lead managers, with Link Intime India serving as the registrar.
3. Ellenbarrie Industrial Gases IPO
Ellenbarrie Industrial Gases, primarily engaged in the production and distribution of industrial gases such as oxygen and nitrogen, is scheduled to commence its IPO on June 24.
Ellenbarrie Industrial Gases IPO: Key Parameters
| Parameter | Specification |
|---|---|
| Issue Size | ₹852.53 crore (₹8,525 million) |
| Offer Structure | Fresh issue (₹4,000 million) and Offer for Sale (₹4,525 million) |
| Price Band | ₹380 – ₹400 per share |
| Subscription Period | June 24 – 26, 2025 |
| Business Focus | Production and distribution of oxygen and nitrogen (87% of FY25 revenue) |
| FY25 Revenue | ₹312.5 crore |
| FY25 EBITDA Margin | 35.10% |
| FY25 PAT Margin | 23.90% |
| Operational Capacity | 3,861 TPD |
| Market Share (India) | 2.85% |
4. Globe Civil Projects IPO
Globe Civil Projects Limited, an integrated Engineering, Procurement, and Construction (EPC) firm, is set to launch its IPO on June 24.
Globe Civil Projects IPO: Key Parameters
| Parameter | Specification |
|---|---|
| Issue Size | ₹119 crore |
| Price Band | ₹67 – ₹71 per share |
| Lot Size | 211 shares |
| Subscription Period | June 24 – 26, 2025 |
| Company Profile | Established in 2002, with completed projects across 11 states in India. |
| Project Portfolio | 37 completed projects, 12 ongoing projects, 5 social and commercial infrastructure projects, 3 transport and logistics projects, and 1 office building project. |
Also Read :- Monolithisch India’s Listing Day Performance
5. Sambhv Steel Tubes IPO
Sambhv Steel Tubes Ltd, a manufacturer of electric resistance welded (ERW) steel pipes and structural tubes, is scheduled to open its IPO on June 25.
Sambhv Steel Tubes IPO: Key Parameters
| Parameter | Specification |
|---|---|
| Issue Size | ₹540 crore |
| Offer Structure | Fresh issue (₹440 crore) and Offer for Sale (₹100 crore by existing promoters and shareholders) |
| Price Band | ₹77 – ₹82 per share |
| Lot Size | 182 equity shares (and multiples thereof) |
| Subscription Period | June 25 – 27, 2025 |
Reservation Structure:
- QIB: 50%
- NII: 15%
- Retail: 35%
The IPO’s lead managers are Nuvama Wealth Management and Motilal Oswal Investment Advisors, with Kfin Technologies serving as the registrar.
SME IPOs Scheduled for Commencement Next Week
In addition to the aforementioned mainboard IPOs, the SME segment is set to witness the launch of seven new Initial Public Offerings, presenting diverse investment opportunities.
Upcoming SME IPOs (June 23-28, 2025)
| Company | Issue Size (₹ Cr) | Price Band (₹) | Lot Size | Subscription Period | Listing Exchange | Primary Business Focus | Lead Manager | Registrar |
|---|---|---|---|---|---|---|---|---|
| AJC Jewel Manufacturers | 14.59 | 90-95 | 1,200 | June 23-26 | BSE SME | Jewelry Manufacturing | Smart Horizon Capital Advisors Private Limited | Bigshare Services Pvt Ltd |
| Ace Alpha Tech | 47.15 | 101-107 | 1,200 | June 26-30 | BSE SME | Technology/IT Services | N/A | N/A |
| PRO FX Techs | 38.21 | 82-87 | 1,600 | June 26-30 | NSE SME | Technology/Services | N/A | N/A |
| Suntech Infra Solutions | 42.16 | 81-86 | 1,600 | June 25-27 | NSE SME | Infrastructure Solutions | GYR Capital Advisors Private Limited | Mas Services Limited |
| Abram Food | 13.29 | 98 (Fixed) | 1,200 | June 24-26 | BSE SME | Food Processing | Corporate Makers Capital Limited | Kfin Technologies Limited |
| Shri Hare-Krishna Sponge Iron | 29.91 | 56-59 | 2,000 | June 24-26 | NSE SME | Sponge Iron Manufacturing | Hem Securities Limited | Kfin Technologies Limited |
| Icon Facilitators | 18.15 | 85-91 | 1,200 | June 23-26 | BSE SME | Facilitation Services | N/A | N/A |
Current Market Sentiment and Recent IPO Performance
The Indian IPO market has recently exhibited a varied performance landscape. While several offerings have garnered substantial oversubscription, others have faced challenges in attracting significant interest, particularly from retail and high net worth investors. This divergence underscores the importance of individual issue analysis. Nonetheless, the forthcoming series of IPOs is anticipated to stimulate considerable interest, owing to the robust fundamentals of the involved companies and their diverse industry representation.
Also Read :- Oswal Pumps’ Listing Day Performance: A Muted Debut with Long-Term Promise
Recent IPO Listing Performance
A review of recent IPO listings provides context for the current market environment:
| Company | Listing Date | Listing Gains (%) | Category |
|---|---|---|---|
| Monolithisch India | June 19, 2025 | +61.92% | SME |
| Oswal Pumps | June 20, 2025 | +3.26% | Mainboard |
| Jainik Power and Cables | June 17, 2025 | -28.45% | SME |
Subscription Trends of Ongoing IPOs
Despite mixed recent listing performances, currently active IPOs are demonstrating robust subscription trends, reflecting sustained investor appetite for new public issues:
| Company | Overall Oversubscription (Times) | QIB (Times) | NII (Times) | Retail (Times) |
|---|---|---|---|---|
| Eppeltone Engineers | 296.34 | 132.23 | 627.28 | 248.04 |
| Patil Automation | 101.42 | 82.92 | 258.18 | 44.77 |
| Influx Healthtech | 25.27 | 1.69 | 32.22 | 35.75 |
These substantial oversubscription figures underscore a clear and strong demand for quality offerings within the primary market.
Conclusion
The period of June 23–28, 2025, is set to be one of the most dynamic for the Indian primary market. With twelve companies, encompassing a broad spectrum of sectors, seeking to raise approximately ₹15,800 crore, the week presents a diverse array of investment opportunities. HDB Financial Services leads this cohort with its significant ₹12,500 crore offering, complemented by other notable mainboard IPOs including Kalpataru Limited, Ellenbarrie Industrial Gases, Globe Civil Projects, and Sambhv Steel Tubes. Concurrently, the SME segment demonstrates equivalent vigor with seven companies launching their public issues.
This robust pipeline of IPOs signifies strong confidence in both the Indian economy and its capital markets. It indicates a favorable environment for companies seeking to raise capital from the public and a sustained eagerness among investors to participate in India’s growth trajectory. This period holds the potential to mark a record-setting fundraising volume through public issues for the current fiscal year.
