Upcoming IPOs This Week: SME Issues and Bagmane REIT Take Centre Stage

The primary market will remain relatively quiet in the week starting May 4, with no mainboard IPOs opening for subscription. However, investor activity will stay intact with two SME offerings and a notable Real Estate Investment Trust (REIT) issue hitting the market. Additionally, a couple of companies are set to make their stock market debut, keeping the IPO ecosystem active despite the absence of large public issues.

SME IPOs: Value 360 Communications and Recode Studios

Among the SME offerings, Value 360 Communications will open for subscription from May 4 to May 6. The IPO is priced in the range of ₹95 to ₹98 per share and comprises a fresh issue worth ₹37.53 crore along with an offer for sale (OFS) of ₹4.16 crore. 

The company plans to utilise the proceeds for working capital, debt repayment, capital expenditure, and investment in its influencer marketing platform. Investors need to apply for a minimum of 2,400 shares.

Following this, Recode Studios will launch its ₹44.59 crore IPO between May 5 and May 7, with a price band of ₹150 to ₹158 per share. The issue includes a fresh issue of ₹39.55 crore and an OFS of ₹5.04 crore. The proceeds will primarily support marketing, working capital needs, and general corporate purposes. The minimum investment stands at 1,600 shares.

Bagmane Prime Office REIT IPO Opens

The highlight of the week is the ₹3,405-crore IPO of Bagmane Prime Office REIT, backed by Blackstone. The issue will open from May 5 to May 7 with a price band of ₹95 to ₹100 per unit. The offering includes a fresh issue of ₹2,390 crore and an OFS worth ₹1,015 crore.

The REIT intends to deploy the funds toward acquiring premium office assets, including Luxor at Bagmane Capital Tech Park and a majority stake in Bagmane Rio Business Park. Its portfolio already spans 20.3 million square feet of Grade A+ office spaces across Bengaluru’s key commercial hubs, making it a significant player in India’s commercial real estate segment.

Market Debuts to Watch

On the listing front, shares of OnEMI Technology and Amba Auto Sales & Services are scheduled to debut on the exchanges this week. Their performance will be closely tracked as a sentiment indicator for the SME segment.

Read more: TCS, Infosys, HCLTech Lead 3–4% Rise in Revenue Per Employee in FY26, Signalling AI-Driven Productivity Shift.

Conclusion

While the absence of mainboard IPOs may signal a temporary pause in large-cap fundraising, the steady pipeline of SME issues and the sizeable REIT offering indicate sustained momentum in the primary market. Investors looking for diversified opportunities will find options across sectors, from communications and beauty to commercial real estate.

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.