Mainboard IPO market stays muted next week, All eyes on SME segment

The final week of February is set to be quiet for the mainboard IPO market, with no new public offerings lined up. The only activity in this segment will be the listing of Quality Power Electrical Equipments, which is set to debut on the bourses on February 24. Meanwhile, the SME segment will see significant action with three IPOs launching and four listings scheduled.

Market Sentiment and IPO Outlook

Experts attribute the slowdown in mainboard IPO activity to market volatility, weak earnings growth, foreign institutional investor (FII) outflows, concerns over potential US tariffs, and uncertainty around the Federal Reserve’s interest rate policies. Despite this temporary lull, analysts predict that over ₹1.5 lakh crore worth of IPOs will hit the market in 2025, with momentum expected to pick up in the coming weeks.

SME IPOs Opening Next Week

Nukleus Office Solutions IPO

The New Delhi-based co-working and managed office space provider will open its public issue on February 24 and close on February 27.

The company aims to raise ₹31.7 crore by offering 13.54 lakh shares at ₹234 per share.

Shreenath Paper Products IPO

The paper products supplier will launch its ₹23.36 crore IPO on February 25, closing on February 28.

The issue consists entirely of fresh shares (53.1 lakh equity shares) at ₹44 per share.

Balaji Phosphates IPO

The phosphate fertiliser manufacturer will open its IPO on February 28, closing on March 4.

The offering includes a fresh issue of 59.4 lakh shares and an offer-for-sale (OFS) of 12.18 lakh shares by promoters Alok Gupta and Mohit Airen.

The price band is expected to be announced in the coming days.

SME IPOs Closing Next Week

HP Telecom India (mobile phone & accessories distributor) and Swasth Foodtech India (rice bran oil processor) will close their IPOs on February 24.

HP Telecom India has been subscribed 1.24 times so far.

Swasth Foodtech India has been subscribed 4 times.

Beezaasan Explotech, a manufacturer of explosives and accessories, will close its IPO on February 25.

The issue has received 42% subscription as of now.

SME Listings Next Week

February 24:

Royal Arc Electrodes and Tejas Cargo India will debut on NSE Emerge.

Quality Power Electrical Equipments will list on the mainboard segment.

February 28:

HP Telecom India will begin trading on NSE Emerge.

Swasth Foodtech India will debut on the BSE SME platform.

While the mainboard segment remains quiet next week, SME IPOs continue to drive market action, signaling strong interest in smaller, high-growth companies. Market watchers expect mainboard activity to rebound soon, once economic uncertainties stabilize.