The Indian primary market is preparing for an active phase during the week of December 22 to December 26, 2025, with several initial public offerings opening across both the mainboard and SME segments. The lineup includes public issues from sectors such as healthcare, manufacturing, infrastructure, polymers, publishing, technology, and oil.
In total, 12 IPOs are slated to open during the week, presenting a diverse set of offerings across industries.
IPO Calendar for the Week
| Company | Opening Date | Price Band (₹) |
| Gujarat Kidney | December 22, 2025 | 108 – 114 |
| Sundrex Oil | December 22, 2025 | 81 – 86 |
| Shyam Dhani Industries | December 22, 2025 | 65 – 70 |
| Dachepalli Publishers | December 22, 2025 | 100 – 102 |
| EPW India | December 22, 2025 | 95 – 97 |
| Apollo Techno Industries | December 23, 2025 | 123 – 130 |
| Bai Kakaji Polymers | December 23, 2025 | 177 – 186 |
| Admach Systems | December 23, 2025 | 227 – 239 |
| Nanta Tech | December 23, 2025 | 209 – 220 |
| Dhara Rail Projects | December 23, 2025 | 120 – 126 |
| E to E Transportation Infrastructure | December 26, 2025 | 164 – 174 |
Mainboard IPO Opening This Week
Gujarat Kidney is the sole mainboard IPO scheduled to open during the week. The issue is a book-built offering aggregating ₹250.80 crore and consists entirely of a fresh issue of 2.20 crore equity shares. The subscription window opens on December 22 and closes on December 24. The allotment is expected to be finalised on December 26, with tentative listing planned for December 30 on the BSE and NSE. The price band has been fixed at ₹108–₹114 per share, with the minimum retail application amount calculated at ₹14,592 at the upper end of the band.
SME IPOs Opening on December 22
Multiple SME IPOs are set to open on December 22. Sundrex Oil will launch a ₹32.25 crore fresh issue, priced between ₹81 and ₹86 per share, and is scheduled to list on the NSE SME platform. Shyam Dhani Industries and Dachepalli Publishers will also open their IPOs on the same day, with issue sizes of ₹38.49 crore and ₹40.39 crore, respectively. EPW India will join the lineup with a ₹31.81 crore issue. These offerings are scheduled to close on December 24, with listings expected on December 30.
IPOs Opening on December 23
December 23 will witness the opening of several additional SME offerings. Apollo Techno Industries will launch a ₹47.96 crore issue, while Bai Kakaji Polymers will open a larger offering sized at ₹105.17 crore. Both IPOs will remain open until December 26 and are slated for listing on the BSE SME platform on December 31. Admach Systems, Nanta Tech, and Dhara Rail Projects will also open their IPOs on December 23, covering engineering solutions, technology services, and railway infrastructure segments.
IPO Opening Later in the Week
E to E Transportation Infrastructure will open its IPO on December 26, with the issue remaining available for subscription until December 30. The offering comprises a ₹84.22 crore fresh issue and carries a price band of ₹164–₹174 per share. The company is expected to list on the NSE SME platform on January 2, 2026.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
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