After a sluggish start to 2025, the IPO market is regaining momentum, with six main-board companies planning to launch their initial share sales in May. These companies are collectively aiming to raise over Rs 11,000 crore. Investment banking sources indicate that Schloss Bangalore Ltd, the owner of the luxury hotel chain The Leela, is among those preparing for an IPO.

In addition to Schloss Bangalore, the companies include Borana Weaves, Belrise Industries, Aegis Vopak Terminals, ArisInfra Solutions Ltd, and Scoda Tubes. Borana Weaves is set to launch its Rs 144-crore IPO on May 20, while Belrise Industries, based in Pune, will launch its Rs 2,150-crore IPO on May 21. The remaining four companies are expected to file their IPO documents the following week, with price bands to be announced this week. Together, these six IPOs intend to raise Rs 11,669 crore.

The resurgence in IPO activity follows a slowdown earlier in 2025, during which only 10 companies launched IPOs, primarily due to market volatility caused by global and domestic uncertainties. This contrasts with the robust IPO performance in 2024, when 91 companies went public, raising a total of Rs 1.6 lakh crore, driven by strong retail participation, a resilient economy, and significant private capital expenditure.

Despite the recent moderation, the IPO pipeline remains strong. According to the Axis Capital IPO Market Update for May 2025, 57 companies have received final observations from the Securities and Exchange Board of India (SEBI), while an additional 74 are awaiting final approval. The upcoming IPOs cover various sectors, including solar and renewables, co-working spaces, pharmaceuticals and healthcare, electrical and cable products, manufacturing, chemicals, real estate, Indian subsidiaries of global MNCs, and the film and entertainment industry.

Specifically, Schloss Bangalore’s IPO will include a fresh issue of shares worth Rs 3,000 crore and an offer-for-sale (OFS) of Rs 2,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd, according to draft documents. Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd, plans to raise Rs 3,500 crore through a fresh equity issue. ArisInfra Solutions Ltd, a provider of technology-driven construction materials, aims to raise Rs 600 crore from its IPO, while Gujarat-based Scoda Tubes will issue entirely fresh shares worth Rs 275 crore.