IPO Rush Continues: 20 Public Issues to Open, 14 Companies Including NSE Set to List This Week

India’s primary market is heading into another packed week, with 20 initial public offerings scheduled to open for subscription and 14 companies preparing to make their stock market debuts. 

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The new issues follow an already busy September, during which 38 public offerings had reached the market by September 20. Of the IPOs lined up for the coming week, six are from the mainboard segment and 13 are SME issues, while Moneyview is also scheduled to launch its offering. 

Fundraising by 19 of these companies is expected to cross ₹4,200 crore. Mainboard companies account for ₹3,825 crore of that amount. Moneyview has not been included in this total as its price band was yet to be announced when the report was published. 

Six mainboard IPOs lined up 

Varmora Granito will be the first mainboard company to open its issue during the week. Its ₹708-crore IPO will begin accepting bids on September 22, with a price band of ₹140-148 per share. 

The issue consists of a fresh share sale worth ₹320 crore and an offer for sale of 2.62 crore shares valued at ₹388.02 crore. 

September 23 will see four mainboard IPOs open on the same day — Elevate Campuses, ArMee Infotech, Swastika Infra and Adroit Industries India. 

Elevate Campuses has the largest issue among them. The student accommodation operator plans to raise as much as ₹2,100 crore at the upper end of its ₹343-362 price band. The IPO consists entirely of fresh shares. 

ArMee Infotech is looking to raise up to ₹300 crore through a fresh issue, with its price band fixed at ₹350-375 per share. 

Swastika Infra’s ₹161.37-crore offering comprises a ₹129-crore fresh issue and an offer for sale of 17.5 lakh shares valued at ₹32.37 crore at the top end of the ₹175-185 price band. 

Adroit Industries India plans to raise ₹150.7 crore. Its offer includes a fresh issue of 98.97 lakh shares and an OFS of 13.5 lakh shares, with the price band set at ₹126-134. 

A-One Steels India will follow on September 24 with a ₹405-crore IPO. The issue comprises ₹355 crore in fresh shares and a ₹50-crore OFS. Its price band has been fixed at ₹385-405 per share. 

Moneyview is also scheduled to open its IPO on September 24. The digital lending platform recently reduced the size of its offering to a fresh issue of ₹750 crore alongside an OFS of 10.04 crore shares. Its price band was yet to be announced at the time of the report. 

SME calendar gets crowded 

Thirteen SME IPOs are scheduled to open during the week, together targeting more than ₹400 crore. 

FX Multitech, Vivekanand Cotspin and Robokidz Eduventures will begin accepting bids on September 21. Their respective issue sizes are more than ₹45 crore, ₹31 crore and ₹22 crore. 

Himalaya Nutravedics India and Anand Seamless will follow on September 22 with IPOs worth ₹26.5 crore and ₹25.5 crore. 

September 23 will be particularly busy. Six SME offerings — Pooja Logistics, Liqvd Digital India, Unitec Fibres, SK Offset, Coreintegra Consulting Services and Sai Urja Indo Ventures — will open that day. 

Pooja Logistics plans to raise more than ₹44 crore, while Liqvd Digital India is targeting ₹39 crore. Unitec Fibres’ issue is worth ₹34.5 crore, followed by SK Offset at ₹29 crore, Sai Urja Indo Ventures at ₹25 crore and Coreintegra Consulting Services at ₹22 crore. 

Together with the four mainboard IPOs opening on September 23, the day will see 10 public issues launch for subscription. 

Peshwa Wheat and Bench Mark Infotech will round out the SME IPO calendar, opening on September 24 and September 25, respectively. Their combined issue size is expected to be around ₹100 crore. 

NSE IPO closes on September 21 

The week will also bring the closing of some ongoing public issues. 

National Stock Exchange of India and Sonaselection India are scheduled to close their IPOs on September 21. At the time cited in the report, the issues had been subscribed 1.16 times and 90%, respectively. 

Among SME issues, SpectraA Technology Solutions and Kheria Autocomp will also close on September 21. Their IPOs had received subscriptions of 18.43 times and 45%, respectively. Axiom Gas Engineering will close its issue on September 22 and had been subscribed 58% at the time of reporting. 

NSE among 14 companies set for market debut 

Alongside the fresh issues, 14 companies are scheduled to begin trading during the week. 

Six of these are mainboard companies. Manika Plastech is scheduled to list on September 21, followed by Hero Motors, SS Retail and Jindal Supreme (India) on September 23. 

NSE and Sonaselection India are scheduled to make their stock market debuts on September 24. 

The SME segment will account for eight new listings. Century Business Media and Injecto Polymers are scheduled to debut on the BSE SME platform on September 21, followed by Vama Wovenfab and Quanto Agroworld on September 22. 

SpectraA Technology Solutions and Kheria Autocomp are due to begin trading on the NSE Emerge platform on September 24, while Axiom Gas Engineering is scheduled to list there on September 25. 

With fresh issues opening, existing offers closing and 14 companies preparing to list, the primary market calendar remains busy through the final stretch of September.