The primary market is gearing up for significant activity this week, with three companies — Blackstone-backed Aadhar Housing Finance, healthcare tech firm Indegene and travel distribution firm TBO Tek — poised to float IPOs aiming to collectively raise nearly ₹6,400 crore.

Before that, JNK India garnered ₹650 crore through its initial share sale last month.

Since 2004, there hasn’t been a single IPO launch during May in the last four general election cycles. Typically, the April-to-June period during these years has been slow for the primary markets due to election uncertainty, said Mahavir Lunawat, managing director, Pantomath Capital Advisors.

However, this trend has changed now with the launch of three mainboard initial public offerings (IPOs) next week.

Samir Bahl, CEO of Anand Rathi Advisors, said the new trend is a positive sign indicating the maturing of the Indian capital markets and confidence in India’s long-term growth story irrespective of political developments.

The three-day IPO of Indegene will open for subscription on May 6, while that of Aadhar Housing Finance and TBO Tek will be launched on May 8.

The ₹3,000-crore IPO of Aadhar Housing Finance is a combination of a fresh issue of equity shares worth ₹1,000 crore and an OFS of ₹2,000. The company has set a price band of ₹300 to ₹315 a share for its IPO.

Healthcare tech firm Indegene has set the price band at ₹430 to ₹452 per share for its ₹1,842-crore initial share sale.

The IPO comprises a fresh issue of equity shares worth up to ₹760 crore and an OFS of up to 2.34 crore equity shares aggregating to ₹1,082 crore by selling shareholders. This takes the total IPO size to ₹1,842 crore.

TBO Tek’s maiden public issue is a mix of a fresh issue of equity shares aggregating up to ₹400 crore and an OFS of up to 1.25 crore equity shares worth ₹1,151 crore by promoters and investors.