Muted IPO Activity This Week With Only One Launch Scheduled

Bengaluru-based Leapfrog Engineering Services will open its initial public offering (IPO) on April 22, making it the only new public issue for the week, according to exchange data. The company has fixed a price band of ₹21–₹23 per share.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

The company plans to raise ₹88.51 crore through the issue of 3.84 crore equity shares. This includes a fresh issue of 3.46 crore shares and an offer for sale of 38.76 lakh shares by promoter Prabhav Narasimha Rao. Leapfrog Engineering Services operates in engineering, procurement, construction, and commissioning (EPCC), focusing on electrical, automation, fire safety, HVAC, and modular substation solutions.

Ongoing IPOs Near Closure

Rajkot-based Mehul Telecom’s ₹27.73 crore IPO will close for subscription on April 21. The issue was subscribed to 3.38 times on April 17, the first day of bidding, as per exchange data.

Citius Transnet Investment Trust’s ₹1,105 crore public issue will also close on April 21. The IPO was subscribed 69% on April 17, according to data available on stock exchanges.

Listings Scheduled During The Week

On the listing front, two companies are set to debut on April 24. Property Share Investment Trust’s scheme Propshare Celestia will list on the BSE after its IPO closed with 1.33 times subscription on April 16.

Mehul Telecom will also list on the BSE SME platform on the same day following the closure of its public issue.

Market Context

The muted IPO activity comes even as equity markets have recorded gains in recent sessions. Benchmark indices have risen nearly 10% from their April lows, while broader markets have gained over 15% in the same period, based on publicly available market data.

Although there is an improvement in the secondary market’s performance, the number of securities offered in the primary market is still low during this week, considering that only one new issue is expected to be available, along with the few ongoing ones, which are about to conclude.

During this week, there will be no more initial public offerings except Leapfrog Engineering Services.