Smaller Companies Dominate Festive Season IPO Boom

ICICI Prudential Mutual Funds Rs 10,000 crore IPO may hit market in late October after Sebi nod, the company has begun the roadshows, said reports. ICICI Prudential filed draft red herring prospectus with Sebi in early July, 2025. Only two large IPOs of more than Rs 5,000 crore have hit the market this year so far - HDB Financial Services( Rs 12,500 crore) and Hexaware Technologies( Rs 8750 crore).

Tata Capital and LG Electronics IPOs aiming to raise upward of Rs 10,000 crore each are also likely in October, according to reports.

Meanwhile, smaller main board IPOs are showing getting good response with four main board IPOs closing on Thursday getting subscribed over 20 times to 68 times - Seshaasai Technologies(68.13 times), Solarworld Energy Solutions(65.01 times), Anad Rathi Share & Stock Brokers(20.66 times) and Jaro Institute of Technology Management(22.06 times).

Five more main board IPOs are that are currently open and close by September 29, two have already been fully subscribed- Jinkushal Industries(2.29), Jain Resources Recycling(1.24 times) while others yet to be fully subscribed include BMW Ventures(0.22 times), Epack Prefab(0.59 times) and TruAlt Bioenergy(0.44 times).

Main board and SME IPOs that open next week( Sept. 29- Oct. 2, 2025) and close during the festive season include - Glottis(Rs 307 crore) Advance Agrolife( Rs 192 crore), Fabtech Technologies( Rs 230.35 crore), OM Freight Forwarder( Rs 122.31 crore), Infinity Infoway( Rs 24.42 crore) and Chatterbox Technologies(42.86 crore).