Next week is set to be a busy period for the primary market. Starting February 23, eight new initial public offerings (IPOs) will open for subscription four in the mainboard segment and four in the small and medium enterprise (SME) segment.
Combined, the four mainboard companies, including Clean Max Enviro and Shree Ram Twistex, aim to raise over Rs 4,000 crore. While the IPO market started 2026 slowly, the pipeline remains strong. More than 200 companies are expected to raise approximately Rs 2.5 lakh crore this year, following a record-breaking 2025 where mainboard IPOs raised Rs 1.76 lakh crore.
Below are the key details and Grey Market Premiums (GMP) for the upcoming issues.
Mainboard IPOs Opening Next Week
1. Clean Max Enviro Energy Solutions IPO
Clean Max is a leading provider of renewable energy for businesses. The company aims to raise over Rs 3,000 crore. The offer includes a fresh issue of shares worth Rs 1,200 crore and an offer-for-sale (OFS) worth Rs 1,900 crore.
- Subscription Dates: Feb 23 to Feb 25
- Price Band: Rs 1,000 to Rs 1,053
- Offer Size: Rs 3,100 crore
- Lot Size: 14 shares
- Expected Listing: March 2 (NSE, BSE)
- GMP (as of Feb 20): Rs 4.5 (Expected listing at ~0.43% premium)
2. Shree Ram Twistex IPO
This company specializes in producing cotton yarn. The issue is a fresh offering of 1.06 crore shares, totaling over Rs 100 crore.
- Subscription Dates: Feb 23 to Feb 25
- Price Band: Rs 95 to Rs 104
- Offer Size: Rs 110.24 crore
- Lot Size: 144 shares
- Expected Listing: March 2 (NSE, BSE)
- GMP (as of Feb 20): Rs 5 (Expected listing at ~4.81% premium)
3. PNGS Reva Diamond Jewellery IPO
A major player in the jewellery industry, PNGS Reva plans to raise nearly Rs 400 crore through a fresh issue of 98 lakh shares.
- Subscription Dates: Feb 24 to Feb 26
- Price Band: Rs 367 to Rs 386
- Offer Size: Rs 380 crore
- Lot Size: 32 shares
- Expected Listing: March 4 (NSE, BSE)
- GMP (as of Feb 20): Rs 18.5 (Expected listing at ~4.79% premium)
4. Omnitech Engineering IPO
Omnitech manufactures high-precision components. The company seeks to raise nearly Rs 600 crore, consisting of a Rs 418 crore fresh issue and a Rs 165 crore offer-for-sale.
- Subscription Dates: Feb 25 to Feb 27
- Price Band: Rs 216 to Rs 227
- Offer Size: Rs 583 crore
- Lot Size: 66 shares
- Expected Listing: March 5 (NSE, BSE)
- GMP (as of Feb 20): Rs 13 (Expected listing at ~5.73% premium)
SME IPOs Opening Next Week
Kiaasa Retail IPO
Kiaasa is a women’s ethnic wear brand. This is a fresh issue of 55 lakh shares.
- Dates: Feb 23 to Feb 25
- Price: Rs 121 to Rs 127
- Listing: BSE SME (March 2)
- GMP: Nil (Flat listing expected)
Mobilise App Lab IPO
This IT solutions provider is raising roughly Rs 20 crore through a fresh issue of 25 lakh shares.
- Dates: Feb 23 – Feb 25
- Price: Rs 75 to Rs 80
- Listing: NSE SME (March 2)
- GMP: Nil (Flat listing expected)
Accord Transformer & Switchgear IPO
The company manufactures electrical power devices. It is offering 56 lakh fresh shares.
- Dates: Feb 23 to Feb 25
- Price: Rs 43 to Rs 46
- Listing: BSE SME (March 2)
- GMP: Rs 12 (Expected listing at ~26% premium)
Yaap Digital IPO
Yaap Digital provides digital marketing solutions and aims to raise over Rs 80 crore.
- Dates: Feb 25 to Feb 27
- Price: Rs 138 to Rs 145
- Listing: NSE SME (March 5)
- GMP: Not yet started
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