Upcoming IPOs This Week (17–21 Nov, 2025): Check Full List Here!

The IPO market is expected to stay calm next week with only two new issues opening for subscription. After several busy weeks filled with mainboard and SME offerings, activity in the primary market has eased. However, multiple listings from recently closed issues will keep investors engaged.

Mainboard IPO: Excelsoft Technologies

Excelsoft Technologies, a global vertical SaaS company, will launch its ₹500-crore IPO on 19 November. The price band is set at ₹114–₹120 per share, and the issue will close on 21 November. Anchor bidding will open on 18 November.

The IPO includes a fresh issue of ₹180 crore and an offer for sale of ₹320 crore by Pedanta Technologies Pvt Ltd.

 Funds raised will be used for:

• Buying land and constructing a new building at the Mysore property
• Upgrading existing facilities and electrical systems
• Improving IT infrastructure
• General corporate purposes

With over 20 years of experience, Excelsoft provides technology-led learning and assessment solutions. The company also develops AI-based tools, including proprietary LLMs and AI agents. Its major clients include Pearson Education, AQA Education and several global educational institutions.

In FY25, Excelsoft reported ₹233.29 crore in revenue and ₹34.69 crore in profit. The shares will be listed on both the BSE and NSE.

SME IPO: Gallard Steel

Gallard Steel’s SME IPO will also open on 19 November and close on 21 November. The allotment result will be announced on 24 November.

Key details include:

• Issue size: ₹37.50 crore
• Type: Entirely fresh issue
• Price band: ₹142–₹150 per share
• Retail minimum investment: ₹3,00,000 (2,000 shares)
• HNI minimum investment: ₹4,50,000 (3,000 shares)

Gallard Steel manufactures ready-to-use engineering components for Indian Railways, defence, power generation and other industrial sectors. It operates a foundry unit in Pithampur and a machining facility through its subsidiary Sleeploop India. The company also has an entity in the Netherlands for future export plans.

Proceeds will fund capacity expansion, office construction, debt repayment and general corporate needs.

IPO Listings to Watch Next Week

While new openings are limited, 8 IPOs are set to list on the stock exchanges. Key listings include:

• Fujiyama Power
• PhysicsWallah
• Capillary Technologies
• Emmvee Photovoltaic
• Tenneco Clean Air
• Workmates Core2Cloud
• Mahamaya Lifesciences

These debuts will keep D-street active despite a light IPO schedule.

Read more: Dividends & Bonus Issue This Week (November 17–21, 2025): Ashok Leyland, Asian Paints, IRCTC & More.

Conclusion

Next week will see a quieter primary market with only two new IPOs—one mainboard and one SME issue. However, with eight listings lined up, investors will still have plenty to track. The spotlight will be on Excelsoft Technologies and Gallard Steel as they open for subscription during the week.

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.