Upcoming IPOs Next Week Including Clean Max and Shree Ram Twistex to Raise ₹4,173 Crore; Full Issue Dates, Listings and Subscription Details
The primary market is preparing for one of its busiest weeks of the year, with nine new initial public offerings scheduled to open for subscription. Among these, four mainboard IPOs collectively aim to raise more than ₹4,173 crore, while five SME IPOs are also set to attract investor participation. In addition to the fresh issues, four companies are expected to list on the stock exchanges during the week.
This wave of offerings reflects sustained momentum in the equity markets, supported by stable domestic liquidity, improving corporate earnings in select sectors, and steady retail participation.
Mainboard IPOs Opening Next Week
Clean Max Enviro Energy Solutions IPO will open for subscription on February 23 and close on February 25. The issue is structured as a book-built offering worth ₹3,100 crore. It consists of a fresh issue of 1.14 crore shares aggregating to ₹1,200 crore and an offer for sale of 1.80 crore shares aggregating to ₹1,900 crore. The company operates in the renewable energy solutions segment, focusing on providing clean energy to commercial and industrial clients. Proceeds from the fresh issue are expected to be used for capacity expansion, repayment of borrowings, and general corporate purposes.
Shree Ram Twistex IPO will also open on February 23 and close on February 25. This mainboard issue is a book-built offering of ₹110.24 crore and is entirely a fresh issue of 1.06 crore shares. The company is engaged in textile manufacturing and plans to use the proceeds to strengthen working capital, expand production capacity, and support operational growth.
PNGS Reva Diamond Jewellery IPO will open for subscription on February 24 and close on February 26. The IPO is a book-built issue of ₹380 crore and is entirely a fresh issue of 0.98 crore shares. The company operates in the organized jewellery retail segment and intends to use the funds for store expansion, inventory management, and brand development initiatives.
Omnitech Engineering IPO will open on February 25 and close on February 27. The total issue size is ₹583 crore, comprising a fresh issue of 1.84 crore shares aggregating to ₹418 crore and an offer for sale of 0.73 crore shares aggregating to ₹165 crore. The company provides engineering and industrial solutions and aims to deploy the proceeds for capital expenditure, technology upgrades, and strengthening its balance sheet.
SME IPOs Scheduled
The SME segment will also witness strong activity.
Mobilise App Lab IPO, Kiaasa Retail IPO, and Accord Transformer & Switchgear IPO will open for subscription on February 23 and close on February 25.
Yaap Digital IPO will open on February 25 and close on February 27.
Striders Impex IPO will open for bidding on February 26.
SME IPOs have seen rising investor interest in recent months, driven by strong listing gains in select counters and increased participation from retail and high-net-worth investors.
Upcoming Listings
Alongside new offerings, the market will see four companies making their debut.
Gaudium IVF & Women Health IPO is expected to list on BSE and NSE on February 27.
Fractal Industries IPO is likely to list on BSE SME on February 24.
Yashhtej Industries (India) IPO may list on BSE SME on February 25.
Manilam Industries India IPO is expected to list on NSE SME on February 27.
Listing performance will be closely tracked as it often sets the tone for investor appetite toward subsequent offerings.
Gaudium IVF & Women Health IPO in Focus
The IPO of Gaudium IVF & Women Health Ltd has entered its second day of subscription and has witnessed encouraging demand.
The issue opened on February 20 and will close on February 24. The allotment is likely to be finalized on February 25, and listing is expected on February 27.
The price band is set at ₹75 to ₹79 per share, and the lot size is 189 shares. At the upper end of the price band, the company aims to raise ₹165 crore. The issue comprises a fresh issue of 1.14 crore equity shares worth ₹90 crore and an offer for sale of 94.93 lakh shares worth ₹75 crore.
The company intends to utilize the net proceeds for establishing new IVF centers, repayment or prepayment of certain outstanding loans, and general corporate purposes.
As per subscription data available on the second day, the IPO has been subscribed 1.67 times overall. The retail investor category has been subscribed 2.41 times, while the non-institutional investor category has been subscribed 2.18 times. The qualified institutional buyer segment has seen limited participation so far.
What Investors Should Consider
With a diverse set of offerings across renewable energy, textiles, jewellery, engineering, digital services, retail, and healthcare, investors have multiple opportunities to diversify portfolios.
However, investment decisions should be based on company fundamentals, revenue growth, profitability trends, sector outlook, valuation metrics, and risk disclosures mentioned in the offer documents.
While short-term listing gains may be attractive, long-term wealth creation depends on business sustainability and management execution.
Conclusion
The upcoming week marks a significant phase for the primary market, with nine IPOs opening and four companies listing. Large issues such as Clean Max Enviro Energy Solutions and sector-focused offerings like PNGS Reva Diamond Jewellery and Gaudium IVF & Women Health are expected to draw considerable investor attention.
Investors are advised to carefully review financial details and consult investment professionals before participating in any public offering.
