The wait is over for IPO enthusiasts! After a period of relative quiet, the scene is set to heat up, along with the soaring temperature, with 10 upcoming IPOs in May vying for investor attention. The list includes confirmed participants such as Indegene, Aadhar Housing Finance, and TBO Tek, while Awfis Space Solutions, Go Digit, and others are also planning for IPO launch in May.
Here’s a breakdown of what to expect, from established players on the mainboard to exciting newcomers in the SME segment.
Mainboard: 3 Upcoming IPOs in May
Three mainboard IPOs lead the pack: Indegene, Aadhar Housing Finance, and TBO Tek. Here’s a closer look at each:
| Company | Price Band | IPO Dates | Issue Size (in shares) | Issue Size (in ₹ Cr.) |
| Indegene Ltd. | ₹430 – ₹452 | May 6 – May 8 | 40,746,891 | ₹1,824 Cr. |
| Aadhar Housing Finance | ₹300 – ₹315 | May 8 – May 10 | 95,238,095 | ₹3,000 Cr. |
| TBO Tek | ₹53 – ₹56 | May 8 – May 10 | To be announced | ₹400 Cr. |
Indegene (May 6): This Bangalore-based healthcare technology company is a hotshot in the industry. They’re looking to raise ₹1,842 crore through a combination of fresh issue (new shares) and offers for sale (existing shareholders selling shares). Their price band of ₹430-452 per share gives you an idea of the valuation they’re targeting. Keep an eye out for their IPO document for details on how much of the offering is a fresh issue vs existing shareholders selling.
Aadhar Housing Finance (May 8): This mortgage lender backed by private equity giant Blackstone aims for a big splash with a ₹3,000 crore public offering. This could be an interesting option for investors looking to tap into the growing Indian housing market. Their price band is set at ₹300 – ₹315, and the issue size is 95,238,095 shares.
TBO Tek (May 8):
Calling all travel enthusiasts! This leading travel distribution platform is seeking to raise ₹400 crore. They’ll offer both fresh issues and shares from promoters and investors. With the travel industry showing signs of recovery, TBO Tek could be a potential growth play. Stay tuned to gauge their valuation.
SME: 7 Upcoming IPOs in May
Adding to the excitement are seven SME (small and medium enterprise) IPOs scheduled for May. These companies offer interesting opportunities for investors seeking diversification:
| Company | Price Band | IPO Dates | Issue Size (in shares) | Issue Size (in ₹ Cr.) |
| Slone Infosystems | ₹79 | May 3 – May 7 | 1,400,000 | ₹11.06 Cr. |
| Refractory Shapes | ₹27 – ₹31 | May 6 – May 9 | 6,000,000 | ₹18.60 Cr. |
| Winsol Engineers | ₹71 – ₹75 | May 6 – May 9 | 3,115,200 | ₹23.36 Cr |
| Finelistings Technologies | ₹123 | May 7 – May 9 | 1,100,000 | ₹13.53 Cr. |
| Silkflex Polymers | ₹52 | May 7 – May 10 | 3,482,000 | ₹18.11 Cr. |
| TGIF Agribusiness | ₹93 | May 8 – May 10 | 687,600 | ₹6.39 Cr. |
| Energy Mission Machineries | ₹131- ₹138 | May 9 – May 13 | 2,982,000 | ₹41.15 Cr. |
Slone Infosystems (May 3-7):
This IT services company offers a relatively smaller IPO size of ₹11.06 crore. Their fixed price of ₹79 per share could appeal to budget-conscious investors looking for a potential diversification play. However, conduct thorough research on their specific service offerings before investing.
Refractory Shapes (May 6-9):
This manufacturer of industrial furnaces and related products caters to a niche market. Their ₹18.60 crore IPO could interest investors seeking exposure to specialized industrial segments. The price band of ₹27-₹31 per share allows for some flexibility in investment size.
Winsol Engineers (May 6-9)
Winsol Engineers, a company that provides integrated engineering, procurement, construction, and commissioning services for Balance of Plant (BoP) Solutions, is offering a fresh issue of 31.15 lakh equity shares to raise ₹23.36 crore. They’ve set a price band of ₹71-₹75 per share, making it a potentially accessible option for investors. The minimum investment amount comes in at ₹11,360 (for a lot size of 1,600 shares). Keep an eye out for the allotment announcement on May 10th, with a tentative listing date on the NSE SME exchange set for May 14th.
Finelistings Technologies (May 7-9):
This company focuses on online real estate listings. Their fixed price of ₹123 per share for their ₹13.53 crore IPO might be suitable for investors interested in the prop-tech (property technology) space. However, a detailed understanding of their business model is crucial.
Silkflex Polymers (May 7-10):
This manufacturer of polymers used in various industries is offering a fixed price of ₹52 per share for their ₹18.11 crore IPO. Investors seeking exposure to the materials sector could consider this option, but understanding their specific product applications is essential.
TGIF Agribusiness (May 8-10):
This agribusiness company’s fixed price of ₹93 per share for their ₹6.39 crore IPO could appeal to investors interested in the agricultural sector. However, given the smaller size of the offering, conducting thorough research on their specific operations is necessary.
Energy Mission Machineries (May 9-13):
This industrial machinery manufacturer wants to raise ₹41.15 crore through a book-built issue with a price band of ₹131-₹138 per share. This offering could be attractive to investors interested in the capital goods sector. However, understanding the specific machinery they manufacture and their target markets is vital.
Conclusion
May promises to be an action-packed month for IPOs, offering various options for investors. Whether you’re interested in healthcare tech, travel services, or industrial machinery, there might be a new company on the block that piques your interest. Do your research, understand the risks and potential rewards, and make informed decisions before investing.
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I’m Archana R. Chettiar, an experienced content creator with
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