India’s IPO Market Set for Busy Week as Powerica, Varmora Granito, BlueStone Jewellery & Regaal Resources File for IPO

India’s primary market is poised for tons of activity this week. A number of companies have filed documents with the Securities and Exchange Board of India (SEBI), while several have opened their initial public offerings (IPOs), offering investors a variety of opportunities across sectors.

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Powerica Moves Fast with ₹1,400‑Crore IPO Filing

On August 8, Powerica, a Mumbai‑based provider of diesel generator solutions and Cummins OEM, submitted its draft red herring prospectus (DRHP) to SEBI for a ₹1,400‑crore IPO. The offering will be evenly split between a fresh equity issue and an offer-for-sale (OFS), each at ₹700 crore. Proceeds include ₹525 crore allocated to repay debt, while the remainder will support general corporate purposes. In fiscal year 2025, Powerica reported ₹2,653.3 crore in revenue (up 20% year-on-year) and a net profit of ₹166.8 crore (down 26.3%).

Varmora Granito Seeks ₹400‑Crore via Fresh Issue

Rajkot-based Varmora Granito Ltd has filed its DRHP with SEBI, proposing an IPO comprising a fresh issue of ₹400 crore and OFS of 5.24 crore equity shares by promoters and an investor. Of the funds, ₹320 crore will repay its debts, ₹280 crore will clear subsidiary debts, and ₹40 crore is earmarked for general corporate needs. Varmora Granito produces over 3,500 tile and bathware SKUs across 20 surface types, sold via 286 exclusive stores, over 2,000 multi‑brand outlets, and B2B channels; it operates nine manufacturing units in Gujarat’s Morbi cluster.

BlueStone Jewellery Opens IPO Amid Mixed Reception

Meanwhile, BlueStone Jewellery & Lifestyle has launched its IPO this week. The book‑built issue is set between August 11 and 13, with a price band of ₹492–₹517 per share, targeting a total ₹1,540.65 crore. The structure includes ₹820 crore raised via fresh issue and ₹720.6 crore via OFS, which will dilute promoter stake from 18.3% to 16.4%. The issue values the company at around ₹7,800 crore. 

Despite healthy metrics—such as a 22% annual rise in average order value and revenue more than doubling between FY23 and FY25—the company also reported widening net losses (₹167 crore to ₹222 crore), along with growing inventory levels.

By late morning on August 11, BlueStone’s IPO had received a tepid response, with only 4% subscription and a modest grey market premium of around 1.74%.

Regaal Resources to Follow with ₹306‑Crore IPO

Regaal Resources Ltd IPO will launch its IPO from August 12 to 14. The price band has been fixed at ₹96–₹102 per share, aiming to raise ₹306 crore via book-building. Retail investors must bid for a minimum of 144 shares, with the issue split between a fresh issue and OFS.

Overview of Upcoming IPOs and Listings

This week, six IPOs will hit the market across the mainboard and SME segments, raising approximately ₹1,938 crore in total. Besides BlueStone and Regaal, two SME offerings— Icodex Publishing Solutions and Mahendra Realtors & Infrastructure—will open between August 11–14 as well.

Additionally, a wave of listings is scheduled: Highway Infrastructure will debut on August 12, followed by JSW Cement and All Time Plastics on August 14; multiple companies—such as Essex Marine, BLT Logistics, Aaradhya Disposal Industries, Jyoti Global Plast, Parth Engineering Electricals, and Bhadore Industries—will begin trading on SME platforms throughout this week.

Conclusion

This week’s IPO schedule marks a busy stretch for India’s primary market. With filings from debt‑repaying firms like Powerica and Varmora and fresh launches from BlueStone and Regaal, investors have diverse options across sectors and market caps. While strong business metrics bolster some offerings, others come amid rising losses—requiring investors to weigh risks carefully. The unfolding subscription outcomes and upcoming listings will offer clearer direction.