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India’s IPO market is set for a busy week with seven new issues, including Sai Parenteral and Powerica, along with four upcoming listings. This week’s calendar features three mainboard IPOs and four small and medium enterprise (SME) issues. Observing the grey market may provide insights into investor sentiment and interest.
Seven companies are opening their IPOs between March 23 and 27, 2026. From a rice exporter to a pharma firm and a power solutions provider, investors will have plenty to follow.
In the mainboard space, three IPOs will open for bidding. This includes:
Sai Parenteral, a company focused on pharmaceutical formulations, has a price band between Rs. 372 and Rs. 392 per share.
The company aims to raise a total of Rs. 408.79 crore, with Rs. 285 crore from fresh shares and Rs. 123.79 crore from an offer-for-sale by existing shareholders.
The funds from the IPO are allocated to several purposes, including expanding and upgrading manufacturing facilities, paying down debt, establishing a new R&D centre, meeting working capital needs, and general corporate use.
This offering is purely a fresh issue of 2.08 crore shares, amounting to roughly Rs. 440 crore. The price band is Rs. 201-212 per share, with a lot size of 70 shares.
The proceeds are primarily aimed at funding working capital requirements and other general corporate expenses.
The company is looking to raise Rs. 1,100 crore, divided into a Rs. 700 crore fresh issue and a Rs. 400 crore offer-for-sale by promoter trusts. The price per share is set at Rs. 375–395.
Of the fresh issue proceeds, around Rs. 525 crore will reduce the company’s debt, while the remaining will support general corporate activities.
4 SME IPOs are scheduled alongside the mainboard issues.
Tipco Engineering India will open its Rs 60.55 crore issue with a lot size of 3,200 shares. It will be available from March 23-25, 2026.
Highness Microelectronics will be available from March 24-27, 2026, with 2,400 shares per lot.
Vivid Electromech plans its subscription from March 25-30, 2026.
Emiac Technologies will open its fresh issue on March 27, 2026, and close on April 8, 2026. Its final price band and lot size are yet to be announced.
Also Read: CMPDI IPO Day 1 Update: Coal India Arm Sees Slow Start With 4% Subscription
Innovision will list on March 23, 2026, GSP Crop Science on March 24, 2026, and both Raajmarg Infra Investment Trust and Novus Loyalty are expected to list on March 25, 2026.
Mohit Gulati, CIO and managing partner of ITI Growth Opportunities Fund, said, “The market is telling us something important: good businesses don’t need aggressive marketing to get listed. If the IPO pipeline continues to be dominated by OFS-heavy issues at stretched valuations, subscription fatigue will only deepen. Quality will find its buyers; just not at any price.”
