India’s primary market is set for another busy week, with seven initial public offerings (IPOs) scheduled to open for subscription starting September 21. Together, these issues are looking to raise more than ₹4,900 crore from investors.
The week will also see several stock market listings, including major names such as National Stock Exchange of India and Hero Motors. The strong flow of new issues comes after an active period for the IPO market over the past few months.
Christopher Wood, Head of Equity Strategy at Jefferies, also recently highlighted the activity in India’s small- and mid-cap space during an interaction with Business Today TV. He noted that the segment provides investors with a wide range of companies and investment themes, while the steady supply of new stocks has been affecting the broader index.
Of the seven IPOs scheduled to open this week, one will begin on Tuesday, four are set to open on Wednesday and the remaining two will start on Thursday.
Varmora Granito IPO
Varmora Granito will open its IPO for subscription on September 22, with bidding continuing until September 24. The ceramic and vitrified tile manufacturer and marketer plans to raise ₹708 crore through the issue.
The company has fixed the IPO price band at ₹140–₹148 per share. The minimum lot size is 101 equity shares, with investors allowed to bid in multiples thereafter.
Four IPOs to Open on September 23
Four companies will enter the primary market on September 23.
Elevate Campuses IPO: The company is looking to raise ₹2,100 crore through its IPO, which will remain open until September 25. Elevate Campuses operates in education infrastructure, including owning, operating and managing student accommodation on higher education campuses, along with K-12 school assets. The shares will be offered at ₹343–₹362 each, with a minimum bid of 41 shares.
ArMee Infotech IPO: The IT infrastructure solutions and managed services provider will launch its ₹300-crore IPO between September 23 and September 25. The price band has been set at ₹350–₹375 per share, with a minimum lot size of 40 shares.
Swastika Infra IPO: The EPC solutions company, which focuses on power transmission and distribution, will raise ₹161 crore through the issue. Its IPO will be open from September 23 to September 25, with the shares priced between ₹175 and ₹185. The minimum lot size is 81 shares.
Adroit Industries (India) IPO: The manufacturer and supplier of propeller shafts and torque-transmission components plans to raise ₹151 crore. The issue will remain open from September 23 to September 25, with a price band of ₹126–₹134 per share. Investors can bid for a minimum of 111 shares.
Two More IPOs to Open on September 24
A-One Steels India IPO: The company will open its IPO on September 24 and accept subscriptions until September 28. It aims to raise ₹405 crore. The shares will be offered in the ₹385–₹405 price range, with a minimum lot size of 37 shares for retail investors.
Moneyview IPO: Digital lending platform Moneyview will launch its ₹1,092-crore IPO on September 24, with bidding closing on September 28. The price band has been fixed at ₹32–₹34 per share, while the minimum application size is 441 shares. Moneyview is backed by global investors such as Accel, Tiger Global and Ribbit Capital.
Companies Set for Stock Market Listings
The week will also bring several stock market debuts. Manika Plastech has already made its market debut on Monday.
Hero Motors, SS Retail and Jindal Supreme (India) are scheduled to be listed on Wednesday. Meanwhile, National Stock Exchange of India and Sonaselection India, whose IPOs are scheduled to close on Monday, are set to be listed on Thursday, September 24.
Disclaimer
This article is provided for general informational purposes only. IPO details, including issue dates, price bands, lot sizes and issue amounts, are based on the information available at the time of writing and may change. Investors should review the official offer documents and conduct their own research before making any investment decision. This article should not be considered financial, investment or trading advice.