The primary market is poised for another action-packed week, with 11 main-board companies, including Rentomojo, Karamtara Engineering and Kanohar Electricals, set to raise ₹7,055 crore through initial public offerings (IPOs).
The IPOs are scheduled to hit the market between September 7 and September 15, with most of the issues opening for subscription on Tuesday and Wednesday.
“This multi-issue rush reflects an eagerness to lock in early-stage growth equity in young companies as all these companies are below $1 billion market cap at listing,” Rajkumar Rathi, Chief Investment Officer at YES Securities, said.
The companies tapping the primary market include real estate developers, engineering and manufacturing firms, a payments and identity solutions provider, a specialty chemicals manufacturer and an online rental platform.
Of ₹7,055 crore, ₹2,722 crore (39 per cent) is primary capital issuance, where funds go into the company, and ₹4,333 crore (61 per cent) is a secondary sale by existing shareholders. This mobilisation highlights strong corporate confidence and robust liquidity available within the Indian primary market, Rathi said.
The funds raised through the fresh issues will largely be utilised for business expansion, capital expenditure, debt repayment, working capital requirements and other general corporate purposes.
The upcoming IPO rush follows a busy start to September, with Rays of Belief and Deepa Jewellers already launching their IPOs on September 1. With these issues, the number of companies launching IPOs in 2026 is expected to rise to 75. This includes 23 issues launched in August.
Against this backdrop, Pranav Constructions will be the first among the 11 companies to open its IPO for public subscription on September 7. The over Rs 351-crore issue will close on September 9.
This will be followed by Kanohar Electricals, Prasol Chemicals and Glass Wall Systems (India), which will open their IPOs on September 8. Rentomojo, Manipal Payment and Identity Solutions, Arcil, LCC Projects, Karamtara Engineering and Steamhouse India will launch their issues on September 9, while Veegaland Developers will open its IPO on September 10.
Price band
Pranav Constructions has fixed a price band of ₹118-124 per share for its IPO, comprising a fresh issue of ₹315.6 crore and an OFS of 28.57 lakh shares worth ₹ 35.43 crore.
Kanohar Electricals has fixed a price band of ₹601-632 per share for its ₹1,056-crore IPO.
Prasol Chemicals has fixed a price band of ₹643-676 per share for its ₹500-crore IPO, comprising a fresh issue of ₹80 crore and an OFS of up to ₹420 crore.
Glass Wall Systems (India) has fixed a price band of ₹172-182 per share for its ₹428-crore IPO.
Rentomojo has fixed a price band of ₹384-404 per equity share for its ₹1,256-crore IPO. The issue comprises a fresh issue of shares worth up to ₹150 crore and an OFS of 2.73 crore shares valued at ₹1,106 crore at the upper end of the price band.
Karamtara Engineering’s ₹875-crore IPO comprises a fresh issue of ₹675 crore and an OFS of shares worth up to ₹200 crore. The price band is ₹241-254 per share.
Manipal Payment and Identity Solutions has fixed a price band of ₹322-339 per share for its ₹805-crore IPO. The issue comprises a fresh issue of ₹320 crore and an OFS of up to 1.43 crore shares worth ₹485 crore.
Arcil has fixed a price band of ₹132-139 per share for its ₹733-crore IPO, which is entirely an OFS. Since there is no fresh issue, Arcil will not receive any proceeds from the offering.
LCC Projects has fixed a price band of ₹139-146 per share for its ₹427-crore IPO.
Steamhouse India will raise ₹414 crore through an IPO comprising a fresh issue of ₹353 crore and an OFS of ₹61 crore.
Veegaland Developers will raise ₹210 crore through a fresh issue of shares. Its IPO will open on September 10 and close on September 15.