Upcoming IPOs: 9 IPOs Worth ₹4,400 Cr Set to Hit Market This Week

Synopsis: India’s primary market will see nine IPOs collectively aiming to raise about ₹4,400 crore this week, led by mainboard issues such as Clean Max Enviro Energy Solutions. Several SME offerings, including Mobilise App Lab, are also set to open, marking an active fundraising phase across segments.

The primary market is set for a busy week starting February 23, with nine IPOs opening for public subscription and four new companies preparing for their market debut. These nine companies aim to raise a total of Rs. 4,405 crore through their initial public offerings, including Rs. 4,173 crore via mainboard public issues.

The participants will see a total of five IPOs opening for subscription on the first day of this week, i.e., February 23, including Clean Max Enviro Energy Solutions and Shree Ram Twistex from the mainboard segment. Three SME IPOs, Mobilise App Lab, Kiaasa Retail, and Accord Transformer & Switchgear, opened for subscription on February 23, 2026, closing on February 25. Here is the list of Mainboard & SME IPO’s and their details

Clean Max Enviro Energy Limited

Clean Max Enviro is recognised as India’s largest commercial and industrial (C&I) renewable energy provider. The company’s IPO is a book-built issue valued at Rs. 3,100.00 crores. The offering comprises a fresh issue of 1.14 crore shares worth Rs. 1,200.00 crores, alongside an offer-for-sale of 1.80 crore shares aggregating to Rs. 1,900.00 crores.

Clean Max Enviro Energy Solutions IPO bidding opened for subscription on Feb 23, 2026 and will close on Feb 25, 2026. The company intends to utilize the net proceeds from the IPO primarily for the repayment or prepayment, in whole or in part, of certain outstanding borrowings of the company and its subsidiaries, amounting to Rs. 1,122.67 crore, with the remaining funds allocated for general corporate purposes.

Shree Ram Twistex Limited

Shree Ram Twistex manufactures cotton yarns, including Compact Ring Spun and Carded Yarns, both Combed and Carded. The IPO is a book build issue of Rs. 110.24 crores. The issue is entirely a fresh issue of 1.06 crore shares of Rs. 110.24 crore.

Shree Ram Twistex IPO opens for subscription on Feb 23, 2026 and closes on Feb 25, 2026. The company plans to utilise the net proceeds from the IPO, totalling Rs. 97.89 crore, for the development of a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive use, repayment or prepayment of certain borrowings of Rs. 14.89 crore, funding working capital requirements of Rs. 44.00 crore, and for general corporate purposes.

PNGS Reva Diamond Jewellery Ltd

PNGS Reva Diamond Jewellery operates in the jewellery business. Its IPO is a book-built issue of Rs. 380.00 crore, consisting entirely of a fresh issue of 0.98 crore shares. IPO opens for subscription on Feb 24, 2026 and closes on Feb 26, 2026.

The Company proposes to utilise the net proceeds of Rs. 321.96 crore from the IPO primarily towards expansion and brand-building initiatives. An amount of Rs. 286.56 crore will be used to fund the setting up of 15 new stores, while Rs. 35.40 crore will be allocated for marketing and promotional activities related to these store launches to enhance local brand awareness and visibility of its flagship brand, Reva. The remaining funds will be used for general corporate purposes.

Omnitech Engineering Limited

Omnitech Engineering is a manufacturing and engineering solutions company that specializes in providing precision-engineered components, turnkey industrial automation solutions, and customised mechanical systems for various industries. This IPO is a book-built issue aggregating to Rs. 583.00 crore.

The issue is a combination of fresh issue of 1.84 crore shares aggregating to Rs. 418.00 crores and offer for sale of 0.73 crore shares aggregating to Rs. 165.00 crores. Omnitech Engineering IPO opens for subscription on Feb 25, 2026 and closes on Feb 27, 2026.

SME IPO’s 

Three SME-segment IPOs, Mobilise App Lab, Kiaasa Retail, and Accord Transformer & Switchgear, are set to open for subscription on February 23. Ghaziabad-based women’s ethnic wear brand Kiaasa Retail aims to raise Rs. 69.72 crore through an IPO of 54.9 lakh shares, priced in the range of Rs. 121–127 per share. Software solutions provider Mobilise App Lab plans to mobilise Rs. 20.1 crore, with a price band of Rs. 75–80 per share.

Meanwhile, Accord Transformer & Switchgear, a manufacturer of electrical power and distribution transformer equipment, is looking to raise Rs. 25.59 crore through a fresh issue of 55.62 lakh shares, priced at Rs. 43–46 per share.

In addition, SME-segment company Yaap Digital, a Gurgaon-based digital content and marketing services agency, is set to raise Rs. 80.11 crore through a fresh issue of 55.25 lakh shares. The IPO has been priced in the range of ₹138–145 per share, which opens on Feb 25th. According to primary market data available up to February 23, Striders Impex will be the final IPO to open this week, opens for subscription on Feb 26, 2026 and closes on Mar 2, 2026.

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