IPO Action This Week: No Fresh Mainboard or SME IPOs, But 4 Big Listings Ahead

Introduction

 

As FY25 comes to an end, the IPO market has entered an unexpected slowdown. March 2025 has been particularly quiet, marking one of the rare dry spells on Dalal Street since May 2023. With no mainboard IPOs hitting the market, investors are left wondering whether this is just a brief pause before a wave of new public offerings.

With the arrival of FY26, expectations are high for several major companies gearing up for their IPO launches in the coming months. However, for now, the spotlight remains on the SME segment, where new listings continue to generate activity. No new IPOs are open for bidding this week, but four remain available for subscription, while four SME IPOs prepare for listing.

As the week begins on a subdued note, let's explore the ongoing IPOs and the upcoming stock market listings.

Ongoing SME IPOs: Subscription Still Open

 

Despite the slowdown in mainboard IPO activity, a few SME public issues remain open for subscription, offering investors fresh opportunities in the small-cap space.

1. Retaggio Industries IPO

 

Retaggio Industries has launched a Rs. 15.50 crore SME IPO, featuring a fresh issue of 61.98 lakh shares at a fixed price of Rs. 25 each. The subscription window opened on March 27 and closes on April 2, with allotment expected by April 3. The company's shares are scheduled for listing on the BSE SME platform on April 7.

Gretex Corporate Services is managing the issue, while Gretex Share Broking serves as the market maker. This IPO presents an investment opportunity for those interested in the SME sector.

2. Spinaroo Commercial IPO

 

Spinaroo Commercial has introduced its SME IPO to raise Rs. 10.17 crore, offering 19.94 lakh new shares at Rs. 51 each. The subscription period began on March 28 and will end on April 3, with allotment likely to be finalized by April 4. The company's shares are scheduled to ipo list on the BSE SME platform on April 8.

Finshore Management Services Limited is overseeing the IPO, with Black Fox Financial Private Limited acting as the market maker.

3. Infonative Solutions IPO

 

Infonative Solutions is opting for a book-building process for its Rs. 24.71 crore IPO instead of the traditional fixed-price SME model. The price range is set between Rs. 75 and Rs. 79 per share.

Investors can subscribe from March 28 to April 3, with allotment likely to be finalized by April 4. The company's shares are scheduled to debut on the BSE SME platform on April 8. Share India Capital Services is managing the issue, while Share India Securities acts as the market maker.

IPO Listings to Watch This Week

 

While there are no fresh IPOs opening for bidding, several SME companies that completed their subscription process earlier are preparing for their stock market debut. These upcoming ipo listings offer fresh investment prospects in the SME sector.

1. Desco Infratech (BSE SME) is set to debut on April 1, 2025.

 

Desco Infratech, which successfully closed its IPO subscription in March, will be ipo listed on the BSE SME platform on April 1. The Desco Infratech IPO comprises a total of 20,50,000 shares, with the allocation structured as follows: 3,86,000 shares (18.83%) reserved for Qualified Institutional Buyers (QIBs), 2,94,000 shares (14.34%) for Non-Institutional Investors (NIIs), 6,86,000 shares (33.46%) for Retail Individual Investors (RIIs), and 5,77,000 shares (28.15%) set aside for Anchor Investors. Investors who had participated in the issue will be closely monitoring its debut performance.

2. Shri Ahimsa Naturals will be listed on the NSE SME platform on April 2, 2025.

 

After completing its IPO last month, Shri Ahimsa Naturals is set to debut on the NSE SME platform on April 2. The Shri Ahimsa Naturals IPO consists of a total of 62,02,800 shares, distributed as follows: 11,70,000 shares (18.86%) for Qualified Institutional Buyers (QIBs), 8,84,400 shares (14.26%) for Non-Institutional Investors (NIIs), 20,82,000 shares (33.57%) for Retail Individual Investors (RIIs), and 17,54,400 shares (28.28%) allocated to Anchor Investors. Investors will be closely monitoring its performance after listing.

3. ATC Energies is scheduled to list on the NSE SME platform on April 2, 2025.

 

ATC Energies, another SME company, is set to debut on the NSE SME platform on April 2. The ATC Energies IPO consists of a total of 54,03,600 shares, distributed as follows: 6,16,800 shares (11.41%) for Qualified Institutional Buyers (QIBs), 17,96,400 shares (33.24%) for Non-Institutional Investors (NIIs), 17,96,400 shares (33.24%) for Retail Individual Investors (RIIs), and 9,22,800 shares (17.08%) designated for Anchor Investors. Investors who participated in the IPO will be observing the stock's initial trading session to gauge market response.

4. Identixweb is scheduled to list on the BSE SME platform on April 3, 2025.

 

Identixweb is set to make its debut on the BSE SME platform on April 3. The Identixweb IPO comprises a total of 30,80,000 shares, with allocations as follows: 5,84,000 shares (18.96%) for Qualified Institutional Buyers (QIBs), 4,40,000 shares (14.29%) for Non-Institutional Investors (NIIs), 10,26,000 shares (33.31%) for Retail Individual Investors (RIIs), and 8,76,000 shares (28.44%) reserved for Anchor Investors. Investors, especially those interested in the SME sector, will closely monitor its performance on the listing day.

What’s Next for the IPO Market?

 

The slowdown in IPO activity, particularly in the mainboard segment, has left investors questioning whether this is a temporary phase or a sign of changing market dynamics. However, with FY26 beginning, a lineup of promising companies is expected to hit the primary market in the coming months.

While the mainboard IPO pipeline remains inactive for now, SME IPOs continue to offer investment avenues. The ongoing and upcoming SME listings suggest that investor interest in small and mid-sized enterprises is still intact. Additionally, market sentiment will play a crucial role in determining how soon the IPO market regains momentum.

In the coming weeks, all eyes will be on SEBI’s regulatory changes, market trends, and investor appetite for new listings. If economic conditions remain stable and corporate earnings show strength, a resurgence in IPO activity could be on the horizon.

Conclusion

While the mainboard IPO segment is currently quiet, the SME IPO market remains active, offering investors fresh opportunities. With multiple SME IPOs open for subscription and upcoming ipo listings scheduled, Dalal Street continues to see action despite the temporary lull in larger public offerings.

For investors looking to capitalize on these opportunities, having the best trading app in India for beginners can make a significant difference. A platform that offers seamless IPO applications, real-time market updates, and a free demat trading account can help streamline the investment process. As the new financial year unfolds, ensuring you have the right tools to navigate upcoming IPOs will be key to making informed investment decisions.

Frequently Asked Questions (FAQs)

 

1. Are there any ongoing IPOs available for subscription?

Yes, while the mainboard IPO segment is inactive, some SME IPOs are still open for subscription. These include Retaggio Industries, Spinaroo Commercial, and Infonative Solutions. Investors can participate in these offerings before their subscription windows close in early April.

2. What are the key SME IPO listings to watch this week?

Several SME IPOs that recently completed their subscription processes are set to list on the stock exchanges this week. Notable listings include:

• Desco Infratech (BSE SME) – April 1, 2025

• Shri Ahimsa Naturals (NSE SME) – April 2, 2025

• ATC Energies (NSE SME) – April 2, 2025

• Identixweb (BSE SME) – April 3, 2025

3. When will the IPO market pick up again?

The slowdown in IPO activity is expected to be temporary. With the beginning of FY26, many companies are preparing to launch their IPOs in the coming months. A surge in IPOs could be seen once market conditions stabilize and regulatory approvals are in place.

4. How can investors apply for upcoming IPOs?

Investors can apply for IPOs through their trading and demat accounts using online platforms. Choosing the best trading app in India for beginners can provide easy access to IPO applications, real-time market data, and a seamless investment experience.

5. Is it a good time to invest in SME IPOs?

SME IPOs can offer unique investment opportunities, but they also come with risks due to lower liquidity and higher volatility. Investors should conduct thorough research on company fundamentals before making investment decisions.

6. How can I track upcoming IPOs and listings?

Investors can stay updated on upcoming IPOs and listings by following stock exchange announcements, financial news websites and using a free demat trading account that provides IPO alerts and market insights.

 

Disclaimer: This blog is dedicated exclusively for educational purposes. Please note that the securities and investments mentioned here are provided for informative purposes only and should not be construed as recommendations. Kindly ensure thorough research prior to making any investment decisions. Participation in the securities market carries inherent risks, and it's important to carefully review all associated documents before committing to investments. Please be aware that the attainment of investment objectives is not guaranteed. It's important to note that the past performance of securities and instruments does not reliably predict future performance.