Upcoming Mainboard IPOs in India – Key Details & Investment Guide

The Indian stock market continues to witness strong activity in the IPO segment. For investors who are looking for new opportunities in the equity market, mainboard IPOs are often an attractive option. These IPOs are launched by companies that plan to list on major stock exchanges such as BSE and NSE, allowing a wide range of investors to participate.

In the coming weeks, several companies are preparing to enter the market through their public issues. Among them, Rajputana Stainless Limited, Innovision Limited, and Skyways Air Services Limited are gaining attention from market participants. Each company operates in a different sector, offering investors exposure to industries such as manufacturing, manpower services, and logistics.

In this article, we will take a simple look at these upcoming mainboard IPOs, their businesses, and what investors should know before applying.

Rajputana Stainless Limited IPO

Rajputana Stainless Limited is one of the notable companies planning to launch its public issue in the mainboard segment. The company operates in the stainless-steel manufacturing industry and supplies products used across several industrial sectors.

The IPO of Rajputana Stainless is scheduled to open on March 9, 2026 and close on March 11, 2026. The company has fixed a price band of ₹116 to ₹122 per share, and investors can apply with a minimum lot size of 110 shares. At the upper price band, the minimum investment required for retail investors is around ₹13,420.

Rajputana Stainless aims to raise approximately ₹255 crore through this IPO, which includes both a fresh issue of shares and an offer for sale by existing shareholders.

Business Overview

The company manufactures various stainless steel products such as billets, forging ingots, rolled bars, flat products, and other related items. These products are widely used in industries including oil & gas, aerospace, defence, automotive, aviation, and precision engineering.

Use of IPO Proceeds

The funds raised from the fresh issue are expected to be used for:

• Setting up a new manufacturing facility for stainless steel seamless pipes
• Repayment or reduction of existing borrowings
• General corporate purposes
  

These plans aim to strengthen the company’s production capabilities and financial position.

Innovision Limited IPO

Another upcoming mainboard IPO that investors are watching closely is Innovision Limited. The company operates in the manpower services and toll plaza management sector, offering various workforce and infrastructure management solutions.

The Innovision IPO will open for subscription from March 10 to March 12, 2026. The company has fixed the price band between ₹521 and ₹548 per share, and the minimum application size is one lot of 27 shares.

The public issue aims to raise around ₹322.84 crore, including a fresh issue worth ₹255 crore and an offer for sale by existing shareholders.

Business Overview

Founded in 2007, Innovision initially started as a private security services provider. Over time, it expanded its operations into several related segments such as:

• Manpower outsourcing
• Facility management services
• Skill development programs
• Toll plaza management
  

Today, the company operates across 23 states and five union territories in India, serving multiple sectors including healthcare, logistics, retail, and government projects.

Financial Growth

Innovision has shown significant growth in recent years. The company reported revenue of ₹893 crore in FY2025, compared with ₹510 crore in the previous year, while profit increased to about ₹29 crore.

The IPO proceeds will mainly be used to repay borrowings and fund working capital requirements, helping the company support future expansion.

Skyways Air Services Limited IPO

The third company preparing for a mainboard listing is  Skyways Air Services Limited, which operates in the logistics and freight forwarding industry.

Skyways Air Services has filed draft documents with the market regulator to launch its IPO. The public issue will include a fresh issue of shares along with an offer for sale by promoters and existing investors.

Business Overview

Founded in 1984, Skyways Air Services started as a customs house agent and gradually expanded into a full-scale logistics provider. The company now offers services such as:

• Air freight forwarding
• Ocean freight forwarding
• Warehousing solutions
• Cargo transportation
• Express parcel delivery services
  

The company has built a strong presence in the logistics sector and serves thousands of clients worldwide.

Use of IPO Proceeds

The company plans to use the funds raised through the IPO for:

• Repayment of debt
• Funding working capital requirements
• Supporting general corporate activities

With the logistics sector in India growing rapidly due to e-commerce and global trade expansion, Skyways Air Services is aiming to strengthen its position through this public offering.

Final Thoughts

The upcoming mainboard IPOs of Rajputana Stainless, Innovision Limited, and Skyways Air Services highlight the diversity of companies entering the public market. These businesses operate in different sectors such as manufacturing, manpower services, and logistics, giving investors a variety of opportunities to explore.

However, before applying for any IPO, investors should always review the company’s financials, growth potential, industry position, and risks. IPO investments can be rewarding, but informed decisions are essential.

As the IPO market continues to stay active, these upcoming issues may attract strong interest from both retail and institutional investors. Keeping track of IPO dates, price bands, subscription updates, and allotment status can help investors make better decisions in the evolving market.