After weeks of muted activity in the primary market, the mainboard IPO space is slowly showing signs of life. Investor participation had cooled in recent listings, but the coming week could bring back some action.
Four companies are set to open their public issues between February 20 and February 24, signalling a fresh round of fundraising in the mainboard segment.
Together, these four IPOs aim to raise Rs 3,755.24 crore from the market.
GAUDIUM IVF IPO OPENS FEBRUARY 20
Gaudium IVF is launching a book-built issue worth Rs 165 crore. The issue includes a fresh issue of 1.14 crore shares worth Rs 90 crore and an offer for sale of 0.95 crore shares worth Rs 75 crore.
The IPO will open on February 20, 2026 and close on February 24, 2026. The allotment is expected on February 25 and listing is likely on February 27.
The price band is fixed at Rs 75 to Rs 79 per share. The lot size is 189 shares. Retail investors will need to invest at least Rs 14,931 at the upper price band. For sNII investors, the minimum investment is Rs 2,09,034, while for bNII investors it is Rs 10,00,377.
Sarthi Capital Advisors Pvt. Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar.
The last grey market premium was Rs 12 as of February 19 morning. Based on the upper price of Rs 79, the estimated listing price is Rs 91, which indicates a possible gain of around 15.19 percent per share.
SHREE RAM TWISTEX IPO TO OPEN FEBRUARY 23
Shree Ram Twistex is planning to raise Rs 110.24 crore through a fresh issue of 1.06 crore shares.
The IPO will open on February 23 and close on February 25. Allotment is expected on February 26 and listing is scheduled for March 2.
The price band is Rs 95 to Rs 104 per share. The lot size is 144 shares. Retail investors will need to invest at least Rs 14,976 at the upper price. For sNII, the minimum investment is Rs 2,09,664 and for bNII it is Rs 10,03,392.
Interactive Financial Services Ltd. is the lead manager and Bigshare Services Pvt. Ltd. is the registrar.
The last GMP stood at Rs 5. At the upper band of Rs 104, the estimated listing price is Rs 109, suggesting a possible gain of about 4.81 percent.
CLEAN MAX ENVIRO ENERGY SOLUTIONS IPO IS THE LARGEST ISSUE
Clean Max Enviro Energy Solutions is launching a Rs 3,100 crore IPO. The issue includes a fresh issue of Rs 1,200 crore and an offer for sale of Rs 1,900 crore.
The issue will open on February 23 and close on February 25. The allotment is expected on February 26 and listing on March 2.
The price band is Rs 1,000 to Rs 1,053 per share. The lot size is 14 shares. Retail investors will need to invest at least Rs 14,742 at the upper price band. The minimum investment for sNII investors is Rs 2,06,388 and for bNII investors it is Rs 10,02,456.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the registrar.
The last GMP was Rs 9. Based on the upper price of Rs 1,053, the estimated listing price is Rs 1,062, which shows a possible gain of about 0.85 percent.
PNGS REVA DIAMOND JEWELLERY IPO OPENS FEBRUARY 24
PNGS Reva Diamond Jewellery is looking to raise Rs 380 crore through a fresh issue of 0.98 crore shares.
The IPO will open on February 24 and close on February 26. Allotment is likely on February 27 and listing is expected on March 4.
The price band is Rs 367 to Rs 386 per share. The lot size is 32 shares. Retail investors will need to invest at least Rs 12,352 at the upper price band. For sNII investors, the minimum investment is Rs 2,09,984 and for bNII investors it is Rs 10,00,512.
Smart Horizon Capital Advisors Pvt. Ltd. is the lead manager and Bigshare Services Pvt. Ltd. is the registrar.
The last GMP stood at Rs 21. At the upper price of Rs 386, the estimated listing price is Rs 407, which indicates a possible gain of around 5.44 percent.
Investors should note that grey market premium is unofficial and can change quickly. Subscription response and overall market conditions will also play a key role in listing performance.
