Upcoming IPOs: PhysicsWallah, Tenneco Clean Air, Emmvee Photovoltaic, 2 other issues to open next week; 7 listings scheduled; check list

Upcoming IPOs next week: At least five companies will launch their initial public offerings next week. They include three mainboard issues of Emmvee Photovoltaic Power, PhysicsWallah and Tenneco Clean Air India and two SME IPOs of Workmates Core2Cloud Solution and Mahamaya Lifesciences.

The listings that are scheduled for next week include Lenskart Solutions, Groww, Pine Labs, Shreeji Global FMCG, Finbud Financial, Curis Lifesciences and Shining Tools.

Emmvee Photovoltaic IPO

Solar photovoltaic module maker Emmvee Photovoltaic Power's ₹2,900 crore initial share sale will be open from November 11 to November 13. The company has set a price band of ₹206 to ₹217 per share.

The IPO comprises a fresh issue of shares aggregating to ₹2,143.86 crore and an offer for sale (OFS) of shares worth ₹756.14 crore by promoters.

Fresh issue proceeds to the tune of ₹1,621.29 crore will be used for repayment or prepayment of loans and interest taken by the company and its subsidiary, and the rest for corporate general purposes.

Emmvee Photovoltaic Power is the leading pure-play integrated solar photovoltaic system module and solar cell manufacturing company. It has a solar PV module production capacity of 7.80 gigawatt (GW) and a solar cell production capacity of 2.94 GW as of May 31, 2025.

PhysicsWallah IPO

The initial public offering of edtech unicorn PhysicsWallah, which will be live from November 11 to November 13, has fixed a price band of ₹103 to ₹109 per share for its upcoming initial public offering (IPO).

The company's ₹3,480 crore is a mix of a fresh issuance of shares worth ₹3,100 crore and an offer for sale (OFS) of shares of ₹380 crore by promoters.

Promoters Alakh Pandey and Prateek Boob will each divest shares worth ₹190 crore through the OFS. The fresh issue proceeds will be used for the company's expansion and growth initiatives.

A lot consists of 137 shares.

PhysicsWallah offers test preparation courses for competitive exams focusing on NEET, GATE, JEE and UPSC, along with upskilling programmes, delivered through online platforms (YouTube, website, and apps), tech-enabled offline centres, and hybrid centres that combine online teaching with in-person support.

Tenneco Clean Air IPO

Tenneco Clean Air India Ltd, part of the US-headquartered Tenneco Group, will float its ₹3,600 crore initial public offering (IPO) on November 12. The issue, which will conclude on November 14, has set a price band of ₹378 to ₹397 per share, and a lot consists of 37 shares.

The initial share sale is exclusively an offer for sale (OFS) by the promoter, Tenneco Mauritius Holdings Ltd, with no fresh equity issuance, according to the red herring prospectus (RHP).

Since the issue is entirely an OFS, the firm will not get any proceeds from the IPO. The funds raised will go directly to the selling shareholder.

Tenneco Clean Air India manufactures critical, highly engineered and technology-intensive clean air, powertrain and suspension solutions for Indian OEMs and export markets.

Workmates Core2Cloud Solution IPO

• Issue size: ₹69.84 crore (fresh issue and OFS)
• Price band: ₹200 to ₹204 per share
• Subscription period: Opens November 11, closes November 13
• Listing on BSE SME: November 18
• Lot size for individual investors: 1,200 shares

Mahamaya Lifesciences IPO

• Issue size: ₹70.44 crore (fresh issue and OFS)
• Price band: ₹108 to ₹114 per share
• Subscription period: Opens November 11, closes November 13
• Listing on BSE SME: November 18
• Lot size for individual investors: 2,400 shares