11 companies line up to raise Rs 7,055 crore from investors
India's primary market is heading into another crowded week, with 11 main-board IPOs lined up to collectively raise Rs 7,055 crore between September 7 and September 15. The fundraising calendar brings companies from a range of sectors to the market, from real estate and engineering to manufacturing, specialty chemicals, payments and identity solutions, and online rentals. Rentomojo, Karamtara Engineering and Kanohar Electricals are among the prominent names in the line-up. Most of the IPOs are scheduled to open on Tuesday and Wednesday, with Pranav Constructions kicking off the week's activity on September 7. "This multi-issue rush reflects an eagerness to lock in early-stage growth equity in young companies as all these companies are below USD 1 billion market cap at listing," Rajkumar Rathi, Chief Investment Officer at YES Securities, said. The Rs 7,055 crore being mobilised will largely comprise stake sales by existing shareholders rather than fresh capital for the companies. Fresh issues account for Rs 2,722 crore, or 39 per cent of the total, while Rs 4,333 crore, or 61 per cent, will come through offers for sale. "This mobilisation highlights strong corporate confidence and robust liquidity available within the Indian primary market," Rathi said. For companies raising fresh capital, the proceeds will largely be directed towards business expansion, capital expenditure, debt repayment, working capital requirements and other general corporate purposes. The rush comes immediately after two IPOs: Rays of Belief and Deepa Jewellers, opened on September 1. Their launches take the number of companies launching IPOs in 2026 to an expected 75, including 23 issues that hit the market in August.
Week begins with Pranav Constructions
Pranav Constructions will open its IPO on September 7, with the subscription window closing on September 9. The issue is valued at over Rs 351 crore. The company has set the price band at Rs 118-124 per share. Its IPO consists of a fresh issue of Rs 315.6 crore and an OFS of 28.57 lakh shares worth Rs 35.43 crore. Three more companies are scheduled to enter the market on September 8. Kanohar Electricals is looking to raise Rs 1,056 crore through its IPO and has fixed a price band of Rs 601-632 per share. Prasol Chemicals has set its price band at Rs 643-676 per share for its Rs 500-crore issue. The IPO comprises a fresh issue of Rs 80 crore and an OFS of up to Rs 420 crore. Glass Wall Systems (India) will offer its shares at Rs 172-182 apiece in an IPO of Rs 428 crore.
Seven IPOs lined up on September 9
The primary market will see its busiest day on September 9, when seven companies are scheduled to launch their issues. Rentomojo's IPO will be priced in the range of Rs 384-404 per equity share and will raise Rs 1,256 crore. The issue includes a fresh issue worth up to Rs 150 crore and an OFS of 2.73 crore shares valued at Rs 1,106 crore at the upper end of the price band. Karamtara Engineering is seeking Rs 875 crore through an IPO priced at Rs 241-254 per share. Its issue comprises a fresh issue of Rs 675 crore and an OFS of shares worth up to Rs 200 crore. Manipal Payment and Identity Solutions has set its price band at Rs 322-339 per share for its Rs 805-crore IPO. The company will raise Rs 320 crore through a fresh issue, while up to 1.43 crore shares worth Rs 485 crore will be offered through an OFS. Arcil's Rs 733-crore IPO, meanwhile, consists entirely of an OFS. Its price band has been fixed at Rs 132-139 per share. As the issue does not contain a fresh component, Arcil will not receive any proceeds from the offering. LCC Projects will raise Rs 427 crore through an IPO with a price band of Rs 139-146 per share. Steamhouse India is set to raise Rs 414 crore, comprising a fresh issue of Rs 353 crore and an OFS of Rs 61 crore. Veegaland Developers will bring the week's IPO activity to a close when its issue opens on September 10. The IPO will remain open until September 15. The company will raise Rs 210 crore entirely through a fresh issue of shares.
