IPO calendar: Primary market momentum takes a break and only SME issuances scheduled for next week

After nearly four months of back-to-back public offerings that have helped Indian companies raise record capital in the primary market, the week ahead will be noticeably quieter. No new motherboard IPOs are planned, marking a brief pause in what has been one of the busiest listing cycles in recent years. Instead, three SME issues will be open for subscription, keeping the broader pipeline active even as major issues take a breather.The slowdown follows a period when several high-profile companies, including Lenskart, Groww, Pine Labs and PhysicsWallah, attracted investors. Strong institutional flows and increased consumer participation had sharply increased subscription numbers across many motherboard offerings. But as the year draws to a close and markets become selective, the short-term schedule at the top end of the market is thinning.

SME IPOs to look forward to

SSMD Agrotech India will be the first to open its books on November 25. The company, which operates under brands such as Manohar Agro, Super SS, Delhi Special and Shri Dhanlaxmi, has roots that go back decades to the merger of existing flour mills. It is involved in manufacturing, trading and repackaging of agri-food products and is looking to raise Rs 34.09 crore at a price range of Rs 114-121 per share. The issue closes on November 27.

Two more offerings will hit the market starting November 26. Mother Nutri Foods, a young company founded in 2022, plans to raise Rs 39.59 crore. It produces peanut butter for B2B customers and sells flavored variants under the Spread and Eat brand in markets such as Libya, Dubai and, more recently, Japan. The offer closes on November 28.

The third SME to open next week is KK Silk Mills, founded in 1991 and engaged in the production of fabrics and garments. The range includes men’s and women’s clothing, children’s clothing and special fabrics such as sherwani and burkha materials.

The company will raise Rs 28.5 crore through a price band of Rs 36-38 per share, with subscriptions also ending on November 28.

While motherboard activity is subdued for now, market participants expect a busy December and an even heavier pipeline in 2026. Several major issuers, including names from the consumer internet, manufacturing and financial sectors, are preparing or have already filed filings in the coming weeks.

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