Five Upcoming IPOs Set to Shake Up Dalal Street This Week

The momentum of the initial public offerings in 2025 stands at a volume of USD 888 million as of February 2025 (year-to-date basis), which is 4% higher than 2024 for the same period. Though the IPO market went quiet for some time, the market is picking up again with five upcoming IPOs this week. Which are these IPOs? Let’s understand the details before deciding to invest in the same.

1. Borana Weaves

Offer Price	₹205-216 per share
Face Value	₹10 per share
Opening Date	20th May, 2025
Closing Date	22nd May, 2025
Total Issue Size (in Shares)	67,08,000 shares
Total Issue Size (in ₹)	₹144.89 Crore
Issue Type	Book Building IPO

Borana Weaves Ltd. is a prominent player in the textile manufacturing sector, specializing in producing microfilament woven fabrics. The company operates a fully integrated manufacturing facility with advanced water jet looms and high-speed air jet weaving technology, ensuring high-quality output across its product range. From polyester greige fabrics to advanced technical textiles, Borana Weaves serves diverse markets including apparel, home textiles, and tent fabrics.

The company has shown consistent growth with a strong production capacity of 220 million metres of greige polyester fabrics annually. Recent expansions include a high-tech weaving unit for waterproof and technical fabrics, set to launch in 2025.

(Source: Company Website)

The company is set to launch its IPO this week on the mainboard. The Grey Market Premium (GMP) for Borana Weaves IPO will start at ₹0 on 14th May and peak at ₹63 on 16th and 19th May.

Objectives of the IPO

• ₹713.48 million for establishing a new manufacturing unit in Surat, Gujarat, to expand grey fabric production.
• ₹265 million for meeting incremental working capital requirements.
• Remaining funds for general corporate purposes.

2. Belrise Industries

Offer Price	₹85-90 per share
Face Value	₹5 per share
Opening Date	21st May, 2025
Closing Date	23rd May, 2025
Total Issue Size (in Shares)	23,88,88,888 shares
Total Issue Size (in ₹)	₹2150 Crore
Issue Type	Book Building IPO

Founded in 1988 with an initial capital of ₹20,000, Belrise Industries started as an automotive fastener manufacturer. Today, the company is a major player in the automotive sector, producing sheet metal and polymer products for leading vehicle manufacturers.

With 15+ manufacturing plants across India, Belrise recorded a turnover of ₹7,484.2 crore in 2023, driven by a diversified product portfolio and strong customer relationships. As of FY2024, the company has maintained a growth rate of 16.4% CAGR over the last four years, outperforming the ACMA index average of 12%. (Source: Company website)

Belrise Industries is set to launch its IPO this week, the proceeds for which are to be utilised as follows:

• ₹1618.12 crore for repaying or pre-paying certain borrowings.
• The remaining is for general corporate purposes.

Additionally, the Grey Market Premium (GMP) for Belrise Industries IPO declined from ₹18 on 17th May to ₹10 on 19th May, indicating fluctuating market sentiment.

3. Victory Electric Vehicles International Ltd. IPO:

Offer Price	₹72 per share
Face Value	₹5 per share
Opening Date	20th May, 2025
Closing Date	23rd May, 2025
Total Issue Size (in Shares)	56,47,000 shares
Total Issue Size (in ₹)	₹40.66 Crore
Issue Type	Fixed Price IPO

Established in 2011 in Bahadurgarh, Haryana, Victory Electric Vehicles International Ltd. manufactures electric and solar battery vehicles, including rickshaws, two-wheelers, and commercial vehicles. The company also produces lithium-ion batteries and electric power grid panels, catering to domestic and international markets, including Nepal, Sri Lanka, and the Maldives.

Victory Electric Vehicles has positioned itself as a prominent player in the electric vehicle segment, leveraging advanced battery systems and custom vehicle designs to expand its market reach.

The company is launching its IPO this week and will be listed on the NSE SME platform. The proceeds of the IPO will be utilised for the following:

• ₹50 crore for capital expenditure.
• ₹220 crore for working capital requirements.
• ₹75.43 crore for general corporate purposes.

4. Dar Credit & Capital Ltd IPO

Offer Price	₹57-60 per share
Face Value	₹10 per share
Opening Date	21st May, 2025
Closing Date	23rd May, 2025
Total Issue Size (in Shares)	42,76,000 shares
Total Issue Size (in ₹)	₹25.66 Crore
Issue Type	Book Building IPO

Dar Credit & Capital Ltd. (DCCL) is an NBFC founded in 1994, headquartered in Kolkata, and has a regional office in Jaipur. It serves low-income individuals and small businesses across several states, offering personal and MSME loans.

For the year ending March 2024, DCCL reported a total income of ₹32.86 crore, up from ₹25.53 crore, and its assets under management grew to ₹171.45 crore from ₹126.36 crore. The company’s gross non-performing assets improved to 0.55%. (Source: annual report)

The company’s IPO is set to launch this week. The proceeds will strengthen the company’s capital base, along with general corporate uses and issue expenses.

5. Unified Data- Tech Solutions Ltd IPO:

Offer Price	₹260-273 per share
Face Value	₹10 per share
Opening Date	22nd May, 2025
Closing Date	26th May, 2025
Total Issue Size (in Shares)	52,92,000 shares
Total Issue Size (in ₹)	₹144.47 Crore
Issue Type	Book Building IPO

Unified Data-Tech Solutions Private Limited (UDTechs), established in 2010 and based in Mumbai, delivers customized IT services focused on data centers, virtualization, cybersecurity, and networking. The company serves over 1,000 clients across the banking, finance, and IT industries, with additional branches in Pune and Ahmedabad.

UDTechs offers technology advisory, system integration, and expert technical services to help businesses build secure, scalable, and efficient IT infrastructure tailored to their needs. It is an authorized partner of OEMs, providing products, maintenance, and subscriptions.

Bottomline:

This week’s upcoming IPOs represent a diverse range of industries, including textiles, automotive components, electric vehicles, financial services, and IT solutions. Each company brings its unique strengths and growth potential to the market, reflecting broader economic trends such as green mobility, digital transformation, and financial inclusion. Investors may consider reviewing the detailed prospectuses and financials to understand the opportunities and risks associated with these offerings.

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.