Upcoming IPOs This Week: Ather Energy IPO Set to Open on April 28

The Indian IPO market is gearing up for a comeback, with a new mainboard initial public offering (IPO) set to open for subscription this week—marking the first such listing in over a month.

In addition to the mainboard IPOs, 4 IPOs from the small and medium enterprise (SME) segment are also scheduled to open.

As per reports, Q1FY25 saw a notable slump in IPO activity, reflecting subdued public market sentiment. Compared to previous periods, IPO volumes dropped by 41% and total capital raised declined by 77%. Only 16 IPOs were launched during the quarter, raising a cumulative USD 2.6 billion—the second-lowest volume recorded in the last seven quarters.

Here is a list of upcoming IPOs this week:

Mainboard IPO

Ather Energy IPO

• Subscription period: April 28 to April 30

• Issue size: ₹2,981.06 crore (₹2,626.30 crore via fresh issue of 8.18 crore shares + ₹354.76 crore via offer for sale of 1.11 crore shares)

• Price band: ₹304 to ₹321 per share

• Lead Managers: Axis Capital, HSBC Securities, JM Financial, Nomura

• Registrar: Link Intime India Pvt Ltd

SME IPOs

Iware Supplychain Services IPO

• Subscription period: April 28 to April 30

• Issue size: ₹27.13 crore (entirely fresh issue of 28.56 lakh shares)

• Price: ₹95 per share (fixed price)

• Lead Manager: GetFive Advisors Pvt Ltd

• Registrar: KFin Technologies Ltd

• Market Maker: SMC Global Securities Ltd

Arunaya Organics IPO

• Subscription period: April 29 to May 2

• Issue size: ₹33.99 crore (₹30.51 crore via fresh issue of 52.60 lakh shares + ₹3.48 crore via offer for sale of 6 lakh shares)

• Price band: ₹55 to ₹58 per share

• Lead Manager: Unistone Capital Pvt Ltd

• Registrar: Bigshare Services Pvt Ltd

• Market Maker: R.K. Stock Holding Pvt Ltd

Kenrik Industries IPO

• Subscription period: April 29 to May 6

• Issue size: ₹8.75 crore (entirely fresh issue of 34.98 lakh shares)

• Price: ₹25 per share (fixed price)

• Lead Manager: Turnaround Corporate Advisors Pvt Ltd

• Registrar: Skyline Financial Services Pvt Ltd

• Market Maker: MNM Stock Broking Pvt Ltd

Wagons Learning IPO

• Subscription period: May 2 to May 6

• Issue size: ₹38.38 crore (₹25.26 crore via fresh issue of 30.80 lakh shares + ₹13.12 crore via offer for sale of 16 lakh shares)

• Price band: ₹78 to ₹82 per share

• Lead Manager: Khandwala Securities Ltd

• Registrar: Cameo Corporate Services Ltd

• Market Maker: Rikhav Securities Ltd

Also Read: Marriott Hotel Operator Prestige Hospitality Files DRHP; ₹1,000-Crore Stake Sale by Prestige Estates on Cards

Conclusion

The primary market is set for a comeback with launch of Ather Energy IPO on mainboard and 4 other public offerings of SME platform.

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.