Indian primary markets are gearing up for a significant rush of activity next week, with a total of eleven Initial Public Offerings (IPOs) scheduled to open for subscription. These issues collectively aim to raise a substantial ₹7,055 crore from investors.
The upcoming week, commencing September 7, will see a staggered opening of these public issues, with a particularly busy day anticipated on Wednesday, September 9, when half a dozen companies will launch their IPOs simultaneously. Three issues are set to open on Tuesday, September 8, while Monday, September 7, and Thursday, September 10, will each see a single issue commence.
Busy Mid-Week for Investors
Wednesday, September 9, marks a high-activity day with six IPOs opening. These include:
- Karamtara Engineering: An ₹875 crore issue, with shares priced between ₹241–254.
- LCC Projects: Seeking ₹427.14 crore, offering shares in the ₹139–146 range.
- Steamhouse India: A ₹414 crore offering; price band and lot size yet to be disclosed.
- Manipal Payment and Identity Solutions: Targeting ₹805 crore, with shares at ₹322–339.
- Asset Reconstruction Company (India) (Arcil): An Offer For Sale (OFS) of ₹732.97 crore, priced at ₹132–139 per share.
- Rentomojo: Planning to raise ₹1,255.57 crore, with a price band of ₹384–404.
Most of these Wednesday-opening IPOs are scheduled to close on September 11, with listing expectations around September 17 on both BSE and NSE.
Other Key IPO Openings
The week kicks off with Pranav Constructions launching its IPO on Monday, September 7. The issue, valued at ₹351.03 crore, will be open until September 9, with shares offered at ₹118–124 each.
Tuesday, September 8, will see three companies enter the primary market:
- Glass Wall Systems: A ₹427.89 crore issue, open until September 10, priced at ₹172–182.
- Prasol Chemicals: Aiming to raise ₹500 crore, with shares in the ₹643–676 range, closing September 10.
- Kanohar Electricals: A significant ₹1,055.74 crore IPO, open until September 10, priced at ₹601–632.
Later in the week, Veegaland Developers will open its ₹210 crore IPO on Thursday, September 10, which will remain open until September 15.
New Listings Also Expected
Beyond the new issues, the market will also welcome three fresh listings next week. Purple Style Labs is set to debut on Monday, while Rays of Belief and Deep Jewellers will commence trading on Tuesday.
Investors are advised to conduct thorough due diligence and consult financial advisors before making investment decisions in these upcoming market opportunities.