Upcoming IPO: Leela Hotels, Aegis Vopak & 4 Others to Open for Subscription
IPO Frenzy Ahead: Schloss Bangalore (Leela Hotels), Aegis Vopak Terminals, and Four Other Public Issues Open for Subscription on May 26 and 27
The Indian primary market is heading into an action-packed phase as six new Initial Public Offerings (IPOs) are set to open for subscription on May 26 and 27.
This surge in public issues follows a relatively quiet three-month period and signals renewed enthusiasm in the IPO space.
Both retail and institutional investors can look forward to a diverse mix of offerings, ranging from luxury hospitality and energy infrastructure to logistics, pharmaceuticals, and paper manufacturing.
The upcoming IPOs include three mainboard issues — Schloss Bangalore (Leela Hotels), Aegis Vopak Terminals, and Prostarm Info Systems — along with three SME IPOs from Blue Water Logistics, Astonea Labs, and Nikita Papers.
Meanwhile, ongoing mainboard IPOs from Borana Weaves and Belrise Industries are already attracting strong investor interest.
As of Day 2 of their subscription periods, Borana Weaves has been oversubscribed 29.6 times, and Belrise Industries reached 71% subscription on Day 1 — a positive indicator of the current market appetite for new listings.
Here’s a comprehensive look at the six IPOs that will open for bidding next week:
Mainboard IPOs
1. Schloss Bangalore IPO (Leela Hotels IPO)
- Subscription Window: May 26 – May 28
- Issue Size: ₹3,500 crore
- Price Band: ₹413 – ₹435 per share
- Lot Size: 34 shares
- Minimum Investment: ₹14,790
Schloss Bangalore, which operates luxury hotels under the prestigious “The Leela” brand, is launching a ₹3,500 crore IPO. This consists of a fresh issue of 5.7 crore equity shares and an offer for sale of 2.2 crore shares by existing shareholders.
Founded in 1986, The Leela is synonymous with Indian luxury hospitality, operating 13 hotels with a total of 3,553 keys.
The brand is celebrated for combining traditional Indian service with modern opulence, and the proceeds from this IPO are expected to fuel future expansions and pare down debt.
This is a marquee IPO that may attract both institutional and retail investors, given the strong brand recall and the aspirational value associated with The Leela’s hospitality experience.
2. Aegis Vopak Terminals IPO
- Subscription Window: May 26 – May 28
- Issue Size: ₹2,800 crore
- Price Band: ₹223 – ₹235 per share
- Lot Size: 63 shares
- Minimum Investment: ₹14,805
Aegis Vopak Terminals, a joint venture between Aegis Logistics and Dutch multinational Royal Vopak, is aiming to raise ₹2,800 crore through a 100% fresh issue of 11.9 crore equity shares. The company operates in the vital sector of bulk liquid storage and handling and plays a crucial role in India’s petroleum and chemical logistics chain.
The IPO proceeds will be used to expand storage capacity, improve terminal infrastructure, and meet working capital needs.
Given its strategic importance in energy logistics, this issue is likely to see solid interest from long-term investors looking for infrastructure-related exposure.
3. Prostarm Info Systems IPO
- Subscription Window: May 27 – May 29
- Issue Size: ₹168 crore
- Price Band: ₹95 – ₹105 per share
- Lot Size: 142 shares
- Minimum Investment: ₹14,910
Prostarm Info Systems is a niche player engaged in the design, assembly, and servicing of energy storage and power conditioning solutions. Incorporated in 2008, the company caters to industries such as telecom, IT, BFSI, and manufacturing.
The IPO comprises a fresh issue of 1.6 crore shares and aims to raise ₹168 crore. The funds will be deployed for product development, facility expansion, and enhanced R&D capabilities.
This mid-sized IPO offers a chance for investors to tap into the fast-growing energy efficiency and storage solutions segment.
SME IPOs
Alongside the mainboard offerings, three small and medium enterprise (SME) IPOs are also scheduled to open for bidding on May 27.
These issues typically cater to smaller businesses but can offer substantial growth potential and portfolio diversification for risk-tolerant investors.
4. Blue Water Logistics IPO
- Issue Size: ₹40.5 crore
- Price Band: ₹132 – ₹135 per share
- Lot Size: 1,000 shares
Founded in 2010, Blue Water Logistics provides freight forwarding, customs clearance, and transportation solutions. Its focus on integrated logistics services has helped it build a stable client base, especially in import-export hubs.
The ₹40.5 crore IPO is a pure fresh issue, and proceeds will be used for fleet expansion, warehouse facilities, and technological upgrades. Given the increasing demand for efficient logistics in a growing economy, this IPO may be worth watching for investors with an eye on the logistics sector.
5. Astonea Labs IPO
- Issue Size: ₹37.67 crore
- Price Band: ₹128 – ₹135 per share
- Lot Size: 1,000 shares
Astonea Labs is a Haryana-based manufacturer of pharmaceutical and cosmetic products. The company specializes in formulation, production, and marketing, serving both domestic and international markets.
The IPO consists of a fresh issue of 27 lakh shares, aimed at funding capacity expansion and boosting marketing efforts. With India’s pharmaceutical sector expected to grow significantly in the coming years, Astonea could offer a strong growth trajectory, albeit with higher risk typical of SME listings.
6. Nikita Papers IPO
- Issue Size: ₹67.54 crore
- Price Band: ₹95 – ₹104 per share
- Lot Size: 1,200 shares
Nikita Papers is a paper manufacturing company known for producing a wide range of paper grades used in industrial, commercial, and printing sectors.
With sustainability gaining focus in the paper and packaging industry, Nikita Papers aims to modernize its machinery and reduce its environmental footprint using IPO proceeds.
This is the largest among the SME IPOs in terms of size and could be a compelling option for those looking to invest in manufacturing and industrial growth stories.
Final Thoughts
With six IPOs launching within just two days, next week promises to be one of the busiest periods in recent times for the Indian primary market.
The broad mix of sectors — from luxury hospitality and logistics to pharmaceuticals and manufacturing — offers investors a range of opportunities to diversify their portfolios.
Whether you’re a conservative investor looking for blue-chip exposure like Leela Hotels or an aggressive investor scouting for hidden gems in the SME space, these upcoming IPOs provide ample choice.
As always, investors are advised to read the red herring prospectus, assess risk factors, and consult with financial advisors before making any commitments.
