The coming week is set to be one of the busiest in India’s stock market this season. Six new companies are launching their Initial Public Offerings (IPOs), while seven companies are scheduled to make their stock market debut. Together, these events mark a strong wave of activity in both the primary and secondary markets. The total fundraising through these new issues is expected to cross ₹10,000 crore, showing solid investor interest in India’s capital markets.
The companies that are opening their IPOs belong to a variety of sectors — education technology, renewable energy, automotive components, cloud services, and pharmaceuticals. This mix gives investors a range of opportunities to invest in both high-growth industries and stable, established businesses.
Among the six companies coming out with their IPOs this week, three are mainboard IPOs (large-cap listings) and three are SME IPOs (for small and medium enterprises).
The most anticipated IPO among these is PhysicsWallah Ltd, an edtech company that has become well-known for its affordable online and offline learning programs. The issue will open for subscription on November 11 and close on November 13. The price band has been fixed between ₹103 and ₹109 per share, and the total issue size is about ₹3,480 crore. The company plans to use the funds to expand its hybrid learning centers and strengthen its technology platforms.
Another major offering is from Emmvee Photovoltaic Power Ltd, a solar module and cell manufacturer. Its IPO will also open on November 11 and close on November 13. The price band is ₹206 to ₹217 per share, with an expected issue size of around ₹2,900 crore. The proceeds will be used for debt repayment, capacity expansion, and other corporate purposes. The company operates in the clean energy segment, which has been attracting strong investor attention due to government incentives and rising demand for renewable energy.
The third large-cap issue comes from Tenneco Clean Air India Ltd, a company that produces emission control systems for automobiles. This IPO will open on November 12 and close on November 14, with a price band of ₹378 to ₹397 per share. The total issue size is expected to be around ₹3,600 crore. Unlike the other two, this is a pure offer for sale, meaning no new shares will be issued; instead, existing shareholders are selling part of their holdings.
Among the SME IPOs, Workmates Core2Cloud Solutions Ltd is drawing attention. The company works in cloud infrastructure and cybersecurity services. Its IPO will open on November 11 and close on November 13, with a price band of ₹200 to ₹204 per share and a total issue size of around ₹70 crore.
Another SME issue this week is Mahamaya Lifesciences Ltd, which is involved in pharmaceutical manufacturing. It will also open on November 11 and close on November 13, with a price band of ₹108 to ₹114 per share, aiming to raise about ₹70 crore.
The sixth offering, Curis Lifesciences Ltd, is another SME company from the healthcare sector. Its IPO opened earlier on November 7 and will close on November 11, with a price band of ₹120 to ₹128 per share. The company specializes in active pharmaceutical ingredients and formulations and plans to use the funds for research expansion and working capital.
In addition to the new IPO openings, seven companies are also scheduled to list their shares on the stock exchanges this week. These listings include both mainboard and SME firms.
Among the larger names expected to list are Lenskart Solutions Ltd, Groww Online Investors Ltd, and Pine Labs Ltd — all well-known in the digital and fintech ecosystem. Their listings are likely to draw strong trading interest from institutional investors and retail traders alike.
A few SME firms are also set to list, including Shreeji Global FMCG, Finbud Financial Services, Curis Lifesciences, and Shining Tools. The performance of these new listings will give important signals about investor sentiment in the broader market.
Typically, a company’s share price on listing day reflects its demand during the IPO subscription period. Those that receive heavy oversubscription usually open at a premium, while others might see more moderate listings depending on overall market mood.
The valuations of these upcoming IPOs vary widely, reflecting the diversity of their industries. High-growth sectors like edtech, renewable energy, and fintech are being offered at premium valuations because of their strong future growth potential.
PhysicsWallah, for example, is entering the public markets at a time when the education sector is rapidly transforming with hybrid learning and digital education models. Similarly, Emmvee Photovoltaic is positioned well to benefit from India’s renewable energy expansion, as both government policy and global energy trends support solar manufacturing.
Tenneco Clean Air India represents a more traditional but essential industrial business. As stricter emission norms come into effect, the company’s products will remain in high demand among automobile manufacturers.
SME issues like Workmates Core2Cloud and Mahamaya Lifesciences also showcase the growing confidence of smaller businesses in tapping the capital market for growth funding. These firms typically have smaller issue sizes but can deliver strong post-listing performance if fundamentals are sound and growth potential is clear.
While the IPO calendar looks strong, market conditions can quickly change and affect outcomes. Volatility in equity markets, global economic uncertainty, and fluctuating interest rates could influence listing performance.
Company-specific factors also play a role. Firms with high debt, heavy competition, or limited diversification may find it challenging to sustain investor confidence. Smaller companies, especially those listed on SME platforms, often experience higher price volatility after listing due to limited liquidity.
Investors are advised to study each company’s financial performance, revenue growth, margins, and risk factors carefully before applying. The “grey market premium,” often cited before listing, can give a sense of sentiment but should not be taken as a guarantee of listing gains.
This week’s cluster of IPOs and listings highlights the strong momentum in India’s capital markets. For companies, it’s an opportunity to raise capital and strengthen balance sheets. For investors, it offers a range of new opportunities across diverse sectors.
However, the sheer number of issues also means investors need to be selective. Instead of spreading funds thin across many IPOs, it may be wiser to focus on companies with strong fundamentals, credible management, and clear growth strategies.
The success of these issues will also set the tone for upcoming IPOs in the remainder of the financial year. If the listings perform well and investor interest remains strong, more companies may bring their offerings to market in the coming months.
The week ahead will be a defining one for India’s IPO landscape, with six public issues opening for subscription and seven listings on the exchanges. The total fundraising could exceed ₹10,000 crore, making it one of the busiest weeks for the primary market this year.
The lineup reflects the growing diversity of India’s economy — from edtech and solar manufacturing to automotive components and pharmaceuticals. Strong investor appetite and the ability of the market to absorb this new supply will be key indicators of confidence.
Overall, this active period reaffirms the strength of India’s capital markets and the willingness of both investors and companies to participate in growth. If the new listings deliver positive post-market performance, the momentum is likely to continue, paving the way for more IPOs in the weeks ahead.