India's IPO Revival: Spotlight on Ather Energy and 4 SME Offerings This Week!

India’s IPO Market on the Rise: Exciting Offerings Ahead

After a period of relative inactivity, the Initial Public Offering (IPO) market in India is experiencing a rejuvenation. Investors can look forward to a vibrant week ahead, featuring a major Mainboard IPO, four SME (Small and Medium Enterprises) IPOs, and an exciting upcoming listing. This surge in activity is igniting enthusiasm among market participants as 2025 unfolds.

Current Trends in the IPO Landscape

As of now, 2025 has seen a total of 10 Mainboard IPOs and an impressive 59 SME IPOs. The SME sector has been particularly dynamic, sustaining the IPO excitement, while the Mainboard has been slower to pick up momentum. However, with notable companies preparing to enter the market, this could shift dramatically soon.

Spotlight on Mainboard IPOs: Ather Energy

Leading the charge this week is Ather Energy, a prominent player in the electric vehicle market. The company is set to launch its IPO, valued at ₹2,981.06 crore.

Subscription Dates: Opens April 28 and closes on May 3.
Price Range: Shares priced between ₹304 and ₹321 each.
Share Structure: The offering includes 8.18 crore shares, raising ₹2,626.30 crore from a fresh issue and ₹354.76 crore from an offer-for-sale of 1.11 crore shares.

Investors can expect share allotment to be finalized by May 2, with the anticipated listing date on both BSE and NSE set for May 6. Major investment banks like Axis Capital, HSBC Securities, JM Financial, and Nomura are spearheading this IPO, with Link Intime India managing the registrar duties.

SME IPOs Bringing Vibrancy

While Ather Energy takes the spotlight, the SME segment is also buzzing with four exciting IPOs scheduled this week, each distinct in its appeal.

Iware Supplychain Services IPO

Subscription Period: April 28 to April 30.
Listing Date: Expected on May 6 on the NSE SME platform.
Issue Size: Fixed-price IPO worth ₹27.13 crore, comprising 28.56 lakh shares.

GetFive Advisors is overseeing the management of this IPO, while Kfin Technologies takes on the registrar responsibilities, supported by SMC Global Securities as the market maker.

Kenrik Industries IPO

Opening Dates: April 29 to May 6.
Price Point: Shares priced at ₹25 each.
Total Offering: Fixed-price IPO valued at ₹8.75 crore, with 34.98 lakh shares up for grabs.

Turnaround Corporate Advisors leads this issue, with Skyline Financial Services as the registrar and MNM Stock Broking acting as the market maker.

Arunaya Organics IPO

Subscription Window: April 29 to May 2.
Expected Listing: May 7 on NSE SME platform.
Price Band: Shares priced between ₹55 and ₹58.

This ₹33.99 crore book-built IPO includes 52.60 lakh shares and 6 lakh shares for sale. It is managed by Unistone Capital, with Bigshare Services as the registrar and R.K. Stock Holding as the market maker.

Wagons Learning IPO

Subscription Dates: May 2 to May 6.
Listing Date: Scheduled for May 9 on BSE SME.
Issue Size: Book-built IPO worth ₹38.38 crore, with 30.80 lakh shares and 16 lakh shares for sale.

Khandwala Securities is leading this offering, while Cameo Corporate Services will manage the registrar functions, and Rikhav Securities will serve as the market maker.

Upcoming Listing to Watch: Tankup Engineers

In addition to the new IPOs, investors should keep an eye out for the listing of Tankup Engineers, which will debut on the market on April 30 following its subscription closure on April 25.

This week marks an exciting period for investors in India’s IPO market, with a mix of opportunities across both Mainboard and SME offerings. The rejuvenation of IPO activities is likely to create a more dynamic investment landscape as the year progresses.