Upcoming IPOs: PhysicsWallah, Emmvee, and Tenneco Opening This Week (Nov 10–14)

After a quiet Diwali period, the primary market is set to regain momentum with multiple new issues lined up in mid-November 2025. 

In the upcoming IPOs this week, five mainboard IPOs and two SME IPOs are scheduled to open, offering investors a diverse mix of opportunities across education technology, renewable energy, automotive components, and SaaS segments.

IPO Calendar: Mainboard and SME Issues (Nov 11–18, 2025)

Note: The data above is sorted in chronological order based on the IPO opening dates.

Listing Details of Upcoming Mainboard IPOs

1. PhysicsWallah Ltd. IPO

• Open: November 11, 2025  
• Close: November 13, 2025
• Price Band: ₹103 – ₹109 per share
• Issue Size: ₹3,480 crore
• Listing: BSE, NSE
• Lead Manager: Kotak Mahindra Capital

PhysicsWallah, India’s leading edtech company, plans to raise ₹3,480 crore through a mix of fresh issue and offer-for-sale. The proceeds will go toward platform expansion, acquisitions in the test-prep segment, and strengthening its offline learning centers.

2. Emmvee Photovoltaic Power Ltd. IPO

• Open: November 11, 2025  
• Close: November 13, 2025
• Price Band: ₹206 – ₹217 per share
• Issue Size: ₹2,900 crore
• Listing: BSE, NSE
• Lead Manager: JM Financial

Bengaluru-based solar manufacturer Emmvee Photovoltaic Power aims to use IPO funds for scaling up its cell and module manufacturing capacity, renewable technology R&D, and debt repayment.

3. Tenneco Clean Air India Ltd. IPO

• Open: November 12, 2025  
• Close: November 14, 2025
• Price Band: ₹378 – ₹397 per share
• Issue Size: ₹3,600 crore
• Listing: BSE, NSE
• Lead Manager: JM Financial

Tenneco Clean Air India Ltd, an automotive emission control systems manufacturer is raising ₹3,600 crore to strengthen its India operations, set up a new plant in Gujarat, and reduce borrowings.

4. Fujiyama Power Systems Ltd. IPO

• Open: November 13, 2025  
• Close: November 17, 2025
• Price Band: ₹216 – ₹228 per share
• Issue Size: ₹228 crore
• Listing: BSE, NSE
• Lead Manager: Motilal Oswal Investment

Fujiyama Power Systems Ltd, an electric vehicle component maker Fujiyama Power Systems will utilize the IPO proceeds to expand its EV battery plant, fund working capital needs, and for general corporate purposes.

5. Capillary Technologies India Ltd. IPO

• Open: November 14, 2025  
• Close: November 18, 2025
• Price Band: To be announced
• Issue Size: To be announced
• Listing: BSE, NSE
• Lead Manager: JM Financial

Capillary Technologies, a SaaS-based customer engagement platform, is expected to announce its price band and issue size soon. Funds are likely to be used for product innovation, international expansion, and inorganic growth through acquisitions.

SME IPOs

Following SME IPOs are also opening this week, offering investors opportunities in niche segments such as lifesciences and cloud-based solutions.

1. Mahamaya Lifesciences Ltd. IPO

Open: November 11, 2025   
Close: November 13, 2025 
Price Band: ₹108 – ₹114 per share 
Issue Size: ₹70.44 crore 
Listing: BSE SME 
Lead Manager: Oneview Corporate

Mahamaya Lifesciences operates in the pharmaceutical and biotechnology domain, specializing in formulation development and research-driven products. The IPO proceeds are expected to fund capacity expansion, working capital, and R&D enhancement.

2. Workmates Core2Cloud Solution Ltd. IPO

Open: November 11, 2025   
Close: November 13, 2025 
Price Band: ₹200 – ₹204 per share 
Issue Size: ₹69.84 crore 
Listing: BSE SME 
Lead Manager: Horizon Management

Workmates Core2Cloud Solutions provides cloud infrastructure, cybersecurity, and managed IT services. Funds raised through the issue will be utilized for technology upgrades, new data center infrastructure, and general corporate purposes.

Read More: Key Trends To Watch In November 2025.

Conclusion

The week of November 11–18, 2025, brings a diverse lineup of IPOs across both mainboard and SME platforms. With companies from sectors such as education technology, renewable energy, automotive components, and cloud services entering the market, investors have a wide range of choices. The upcoming listings highlight the continued momentum in India’s primary market following the festive season.

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.