It has been raining initial public offering even as the secondary markets have been a roller-coaster ride. Four companies are all set to hit the market next week after announcing their IPOs on Friday. These companies will cumulatively raise ₹3,362 crore.
Meanwhile, market regulator SEBI on Friday has cleared four IPOs including that of NSE, RKB Global, Monomark Engineering (India) and Cosmic PV Power.
Furniture and appliance rental platform Rentomojo, which plans to raise ₹1,255 crore through IPO, has fixed the share issuance price band at ₹384-404 per share. The IPO will open for investment on September 9.
The IPO comprises a fresh issue of shares worth up to ₹150 crore and an offer for sale of 2.73 crore equity shares, valued at about ₹1,105 crore at the upper price band.
Rentomojo plans to use ₹70 crore from the net proceeds of the fresh issue to repay certain borrowings. Its total borrowings stood at ₹258 crore as of June.
Manipal Payment & ID Solutions
Karnataka-based Manipal Payment and Identity Solutions has fixed a price band at ₹322 to ₹339 per share for its ₹805-crore initial public offering.
The IPO comprises a fresh issue of shares worth ₹320 crore and an offer for sale (OFS) of 1.43 crore shares worth ₹485 crore by promoter Manipal Technologies. The issue will open for subscription from September 9.
Manipal Payment provides payment, identification, security, smart-tagging and Internet of Things solutions to banks, fintechs, non-banking financial companies and governments in domestic and international markets. The company said it will use ₹238.4 crore from the net fresh issue proceeds to buy and install new and second-hand equipment at its facilities, with the remaining funds earmarked for general corporate purposes.
Karamtara Engineering
The Mumbai-based renewable energy and transmission line products manufacturer Karamtara has fixed the price band at ₹241-254 per share for its upcoming ₹875-crore IPO.
The public issue will open for subscription on September 9.
The company will raise ₹675 crore through a fresh issue of shares, while promoters Tanveer Singh and his brother Rajiv Singh will sell shares worth ₹200 crore through an offer-for-sale.
The company intends to enter the battery energy storage systems business through its wholly owned subsidiary, Karamtara Green Energy, which was incorporated in May 2025. It also plans to set up manufacturing facilities for prefabricated engineered building structures.
LCC Projects
The EPC company operating in the irrigation and water supply segments will raise ₹427 crore through IPO which opens on September 9.
The price band for the offer has been fixed at Rs 139-146 per share. LCC Projects will raise ₹258 crore through a fresh issue of equity shares, while promoters Arjan Suja Rabari and Laljibhai Arjanbhai Ahir will offload 1.15 crore shares worth ₹169 crore through an offer-for-sale.
It has an order book of ₹7,953 crore as of March-end, with irrigation and water supply projects accounting for the largest share at 83 per cent.