Upcoming IPOs: Two Mainboard, One SME Issues To Open; Four Listings To Watch This Week

The primary market will remain active in the coming week of March 16-20, 2026, as two companies are set to launch their mainboard initial public offerings (IPOs), while another will open its offer in the small and medium enterprise (SME) segment. The week will also see three mainboard IPO listings and one SME IPO listing.

Upcoming IPOs This Week

The following IPOs are set to open in the week of March 16-20, 2026.

GSP Crop Science IPO (Mainboard)

GSP Crop Science’s IPO will open on March 16, 2026, and close on March 18, 2026. The company aims to raise Rs 400 crore through a combination of a fresh issue of 7.50 million equity shares worth Rs 240 crore and an offer for sale (OFS) of 5 million shares aggregating to Rs 160 crore.

The price band has been fixed at Rs 304-320 per share and investors can bid in a lot size of 46 equity shares. At the upper price band, retail investors will need to commit a minimum of Rs 14,720 to apply for one lot.

Incorporated in 1985, GSP Crop Science is an agrochemical company, which manufactures insecticides, herbicides, fungicides and plant growth regulators. The company offers crop protection solutions to help farmers improve productivity, including formulations, such as active ingredients and additives, and technicals that consist of concentrated active ingredients used to control pests, weeds and diseases.

Central Mine Planning IPO (Mainboard)

Central Mine Planning & Design Institute’s IPO will open for subscription on March 20, 2026, and close on March 24, 2026. The issue is entirely an OFS of 107.10 million equity shares by existing shareholders. The price band for the issue is yet to be announced.

Incorporated in 1974, Central Mine Planning & Design Institute (CMPDI) provides consultancy and support services across coal and mineral exploration, mine planning, and design. The company also offers services in infrastructure engineering, environmental management, specialised technology solutions, and management systems for the mining sector. 

CMPDI held a 61 per cent market share in India’s coal and mineral consultancy segment in FY25 and is the preferred consultant for Coal India.

Novus Loyalty IPO (SME)

Novus Loyalty’s IPO will open for subscription on March 17, 2026, and close on March 20, 2026. 

The company plans to raise Rs 60.15 crore through a fresh issue of 3.30 million equity shares worth Rs 48.18 crore and an OFS of 0.82 million shares aggregating to Rs 11.97 crore.

The price band has been set at Rs 139-146 per share, with investors will need to bid in a lot size of 1,000 shares. Retail investors will need to apply for a minimum of two lots, translating to an investment of Rs 2.92 lakh at the upper price band.

Novus Loyalty was established in 2011 and is a technology-driven company that provides loyalty and rewards solutions for sectors including fintech, e-commerce, banking, fast moving consumer goods (FMCG) and real estate. The company offers a digital loyalty platform designed to help businesses manage reward programmes and customer engagement initiatives.

Other IPO Action To Watch This Week

In the mainboard segment, Innovision’s IPO, which opened for subscription on March 10 and was scheduled to close on March 12, has been extended till March 17 after receiving weak investor response. The firm will list on March 20.

The Rs 255-crore Rajputana Stainless IPO is scheduled to make its debut on the exchanges on March 16. In the SME segment, the Rs 36-crore Apsis Aerocom IPO is set to list on March 18.