Upcoming IPOs in May 2025: No Mainboard IPO Scheduled to Open

India’s Initial Public Offering (IPO) market has continued to show resilience, capturing a significant 22% share of global IPO activity in Q1 2025, according to the EY Q1 2025 IPO Trends Report. Despite global economic headwinds, India hosted 62 IPOs during the quarter, raising a total of USD 2.8 billion, underscoring the country’s ongoing appeal as a go-to destination for companies looking to go public.

However, overall IPO activity in India experienced a year-on-year decline of approximately 20%, reflecting a more cautious investor approach amid a marginal 1.1% dip in the BSE SENSEX. The slowdown is also evident in the current pipeline, with no mainboard IPOs scheduled for May 2025. Instead, the spotlight shifts to the SME segment, with three IPOs slated to open in early May.

Upcoming IPOs in May 2025

Wagons Learning IPO

Wagons Learning is launching a book-built IPO worth ₹38.38 crores. The offering consists of a fresh issue of 30.80 lakh equity shares aggregating ₹25.26 crores and an offer for sale (OFS) of 16 lakh shares amounting to ₹13.12 crores.

• Subscription Period: May 2 to May 6, 2025

• Allotment Date: May 7, 2025

• Tentative Listing: May 9, 2025, on BSE SME

• Price Band: ₹78 to ₹82 per share

• Lot Size: 1,600 shares

Manoj Jewellers IPO

Manoj Jewellers is offering a fixed price IPO of ₹16.20 crores, comprised entirely of a fresh issue of 30 lakh equity shares.

• Subscription Period: May 5 to May 7, 2025

• Allotment Date: May 8, 2025

• Tentative Listing: May 12, 2025, on BSE SME

• Price: ₹54 per share

• Lot Size: 2,000 shares

• Minimum Investment (Retail): ₹1,08,000

• Minimum Investment (HNI): ₹2,16,000 (2 lots)

Jawa Capital Services Private Limited is the lead book-running manager, with Skyline Financial Services Pvt. Ltd. serving as the registrar. Shreni Shares Limited is the market maker for this IPO.

Also Read: Ather Energy IPO Set to Open on April 28: Price Band Fixed at ₹304 to ₹321 Per Share

Srigee DLM IPO

Srigee DLM’s book-built IPO is valued at ₹16.98 crores and comprises a fresh issue of 17.15 lakh equity shares.

• Subscription Period: May 5 to May 7, 2025

• Allotment Date: May 8, 2025

• Tentative Listing: May 12, 2025, on BSE SME

• Price Band: ₹94 to ₹99 per share

• Lot Size: 1,200 shares

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.