Next week, the Indian primary market is set to witness a significant influx of activity, with four main-board Initial Public Offerings (IPOs) collectively aiming to raise over ₹6,600 crore. Here's a detailed overview of these upcoming IPOs:

Schloss Bangalore Ltd (Operator of Leela Palaces Hotels & Resorts)
 

Schloss Bangalore Limited, operating under the renowned "The Leela" brand, is a luxury hospitality company in India. As of May 31, 2024, the company operates 12 hotels and resorts comprising 3,382 keys across various business and leisure destinations in India. Its portfolio includes five owned hotels, six managed properties under hotel management agreements, and one franchised hotel. 

1. IPO Dates: May 26–28, 2025
2. Price Band: ₹413–₹435 per share
3. Issue Size: ₹3,500 crore
4. Fresh Issue: ₹2,500 crore
5. Offer for Sale (OFS): ₹1,000 crore
6. Lot Size: 34 shares
7. Minimum Investment (Retail): ₹14,042
8. Listing Date: June 2, 2025
9. Exchanges: BSE and NSE
10. Face Value: ₹10 per share
11. IPO Type: Book Building

Utilization of Proceeds
 

Repayment or prepayment of borrowings: The company plans to utilize the net issue proceeds for the repayment or prepayment or redemption of certain outstanding borrowings availed by it and certain of its subsidiaries, namely, Schloss Chanakya, Schloss Chennai, Schloss Udaipur, and TPRPL, through investment in such subsidiaries.

COMPANY'S FINANCES

Aegis Vopak Terminals (Subsidiary of Aegis Logistics Ltd)
 

Aegis Vopak Terminals Limited (AVTL) is a joint venture between Aegis Logistics (50.1%) and Netherlands-based Vopak (47.4%). The company specializes in storage solutions for liquefied petroleum gas (LPG) and various liquid products. AVTL operates storage tank terminals across major Indian ports, providing infrastructure for petroleum, vegetable oils, lubricants, chemicals, and gases like propane and butane.

1. IPO Dates: May 26–28, 2025
2. Price Band: ₹223–₹235 per share
3. Issue Size: ₹2,800 crore (entirely a fresh issue of 11.91 crore shares)
4. Lot Size: 63 shares
5. Minimum Investment: ₹14,805
6. Listing Date: Expected on June 2, 2025
7. Exchanges: BSE and NSE
8. Face Value: ₹10 per share
9. IPO Type: Book Built Issue

COMPANY'S FINANCES

Utilization of Proceeds would include ₹2,016 crore for debt repayment, ₹671.3 crore for capital expenditure, including acquisition of a cryogenic LPG terminal at Mangalore and the remaining for general corporate purposes

Prostar Info Systems

1. IPO Dates: May 27–29, 2025
2. Price Band: ₹95–₹105 per share
3. Issue Size: ₹168 crore
4. Offer Type: 100% Fresh Issue (1.60 crore equity shares)
5. Lot Size: 142 shares
6. Minimum Investment: ₹13,490 (at ₹95) to ₹14,910 (at ₹105)
7. Listing Date: June 3, 2025
8. Exchanges: BSE and NSE
9. Registrar: KFin Technologies

Prostarm Info Systems Ltd, established in 2008 and headquartered in Pune, specializes in designing, manufacturing, and selling power conditioning and energy storage equipment. Their product portfolio includes:

1. Uninterruptible Power Supply (UPS) systems
2. Inverter systems
3. Solar hybrid inverter systems
4. Lithium-ion battery packs
5. Voltage stabilizers

The company serves a diverse clientele across sectors such as healthcare, aviation, BFSI, railways, defense, education, and renewable energy. Notable clients include the Airports Authority of India, Railtel Corporation, and various state public works departments. 

Utilization of IPO Proceeds : The net proceeds from the IPO are planned to be used for:

1. Working Capital Requirements: ₹72.5 crore
2. Repayment of Borrowings: ₹17.95 crore
3. Inorganic Growth Initiatives: Unspecified acquisitions and strategic initiatives
4. General Corporate Purposes

FINANCIAL RESULTS

ISSUES 

1. Negative Cash Flows: The company has reported negative cash flows from operating and investing activities in recent periods.
2. Customer Concentration: A significant portion of revenue is derived from a limited number of clients, posing a risk if major clients are lost.
3. Working Capital Intensity: The business requires substantial working capital, which may affect liquidity.
4. Dependence on Government Contracts: A considerable part of the business comes from government contracts, which can be subject to policy changes.

Scoda Tubes
 

1. IPO Dates: May 28–30, 2025
2. Price Band: ₹130–₹140 per share
3. Issue Size: ₹220 crore (entirely a fresh issue)
4. Lot Size: 100 shares
5. Minimum Investment: ₹14,000
6. Listing Date: June 4, 2025
7. Exchanges: BSE and NSE

​​​​​​​FINANCIAL RESULTS

SUMMARY TABLE​​​​​​​

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Company Profile
 

Scoda Tubes Limited, incorporated in 2008 and based in Gujarat, is a manufacturer of stainless-steel seamless and welded tubes and pipes. The company caters to various sectors, including oil and gas, chemicals, fertilizers, power, pharmaceuticals, automobiles, EPC, and railways. Scoda Tubes exports to 16 countries and serves 49 stockists globally. The company holds certifications such as ISO 9001:2015, PED 2014/68/EU, and DNV.
 

Utilization of IPO Proceeds
 

Capital Expenditure: ₹76.99 crore for expanding production capacity of seamless tubes and pipes by 10,000 MTPA and welded tubes and pipes by 12,130 MTPA. Working Capital Requirements: ₹110 crore and the remaining funds for General Corporate Purposes. 

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Despite a slowdown in new listings in 2025, with only 12 firms launching IPOs so far due to market volatility, the pipeline remains robust. In 2024, the market saw 91 IPOs raising a total of ₹1.6 lakh crore. Currently, 57 companies have received final observations from the Securities and Exchange Board of India (SEBI), and 74 more are awaiting approval, indicating a strong upcoming lineup across various sectors, including renewables, healthcare, manufacturing, and entertainment.