IPO calendar: 20 IPOs to raise Rs 1,292 crore this week; 20 others to make stock market debuts

India’s primary market is set for another busy week, with 20 IPOs scheduled to open for subscription across the mainboard and SME segments. The line-up includes four mainboard issues and 16 SME offers, with the total fundraising pegged close to Rs 1,292 crore.

The four mainboard IPOs are SRIT India, Vishal Nirmiti, Nityas Gems & Jewellery and Shah Investor’s Home, which together plan to raise Rs 595 crore. The remaining activity will come from the SME segment, where 16 companies are expected to raise about Rs 697 crore. The crowded schedule follows a busy previous week, when 11 mainboard and 17 SME IPOs were launched, raising a cumulative Rs 7,260 crore.

In an interaction with Business Today TV, Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services, said the primary market has remained resilient despite the Nifty’s muted performance, supported by strength in mid-caps. "A lot of new IPOs are coming from the mid- and small-cap space, and there is huge appetite for some of these names."  

Openings this week Among the SME offers, Acme Universal Safezone 9, Shree TNB Polymers, Pind Hospitality and Shivchem Agro will open their public issues on September 28. On September 29, Black Opal Consultants, EverestIMS Technologies, Vans Electroengineerings and Papadmalji Agro Foods will launch their IPOs.

September 30 will be the busiest day of the week, with eight companies opening their issues. Acme India Industries will have the largest issue among them at Rs 121.69 crore, followed by Paramount Syntex and Dove Soft. Omara Ventures India Eventions, TNA Solutions, SJP Ultrasonics and Sollfege Smart Electronics are also scheduled to open that day.

The SME IPO market is already growing this year with a strong pipeline. The number of SME IPOs have increased with investors' appetite for discovering businesses before they become larger listed companies, said Kresha Gupta, Fund Manager & Director at Steptrade Capital. "The real opportunity in investing in SME companies would not be listing gains, but to tap the business early in its growth journey"

IPOs closing next week Moneyview and A-One Steels India, which opened their IPOs on September 24, are set to close on September 28. Acevector, Runwal Enterprises, Orient Cables and German Green Steel & Power, which launched their issues on September 25, will remain open for subscription until September 29.

So far, Moneyview’s maiden public issue has been subscribed 6.01 times, while A-One Steels India has been subscribed 1.35 times. Acevector has received subscriptions for 23 per cent of the issue, Runwal Enterprises 42 per cent, Orient Cables 1.96 times and German Green Steel & Power 1.73 times.

Investor appetite today is increasingly differentiated rather than indiscriminate. Marquee offerings continue to attract strong interest, but investors are becoming more discerning on valuations, earnings visibility, business fundamentals and the credibility of growth prospects, said Kamraj Singh Negi, Managing Director and CEO at Pantomath Capital.

"The pipeline should therefore not be mistaken for assured fundraising; valuations, secondary-market stability and investor selectivity will determine which issues ultimately come to market and how they are received. The key shift is that we are moving from a supply-constrained first half to a much more active primary-market environment, with capital formation becoming increasingly broad-based," he said.

In the SME segment, Green Asia Impex, Peshwa Wheat and Roopa Screen will remain open until September 28, while Bench Mark Infotech Services, Sai Urja Indo Ventures, Himalayan Solar and Dudani Retail will close on September 29.

Listings next week A total of 20 companies are scheduled to begin trading next week, including seven mainboard companies and 13 SME companies. Varmora Granito will be the first mainboard company to list, on September 29. Adroit Industries India, Elevate Campuses, ArMee Infotech and Swastika Infra are scheduled to debut on September 30, while Moneyview and A-One Steels India are expected to list on October 1.

In the SME segment, Robokidz Eduventures, FX Multitech and Vivekanand Cotspin will list on the BSE SME platform on September 28. Anand Seamless and Himalaya Nutravedics India will follow on September 29. On September 30, Liqvd Digital India, Unitec Fibres and SK Offset will debut on the BSE SME platform, while Pooja Logistics and Coreintegra Consulting Services will list on NSE Emerge.

The activity in the SME IPO segment reflects continued confidence among companies in the public markets as a source of growth capital, said CA Sandeep Gupta, Director at Valmiki Leela Capital. Investors are increasingly looking at the underlying business opportunity, order visibility, capacity expansion and how effectively companies can deploy the capital being raised, he said.

Green Asia Impex is scheduled to begin trading on NSE Emerge on October 1, while Peshwa Wheat and Roopa Screen are expected to debut on the BSE SME platform the same day. With a fresh set of IPO openings, multiple closings and 20 scheduled listings, the primary market is set to remain active through the week across both the mainboard and SME segments.