IPO Rush: 10 issues open for subscription today; check price band, subscription status and key risks
IPO rush continues with 10 issues raising Rs 6,000 crore open for subscription. Check price bands, issue sizes, subscription status and key positives and risks of each IPO.
- Sep 25, 2026,
- Updated Sep 25, 2026 1:16 PM IST
The IPO rush continues at Dalal Street with investors having an option to apply for as many as 10 issues on Friday. These issues are cumulatively raising nearly Rs 6,000 crore from primary market investors. One should note that 4 IPOs shall close for bidding today, while four have opened today. Remaining two issues have their day two of subscription on Friday, September 25.
ArMee Infotech ArMee Infotech is raising Rs 300 crore through its IPO at Rs 350-375 per share, with a lot size of 40 shares. The IT solutions and infrastructure player opened its issue on September 23 and closes on September 25. The IPO of Armee Infotech was overall subscribed 1.66 times as of 1 pm on third day of the subscription.
Brokerages see its project pipeline, client base and diversification as positives, while declining profitability, higher leverage and execution risks remain key concerns.
Swastika Infra Swastika Infra is raising Rs 161 crore through its IPO at Rs 175-185 per share, with a lot size of 81 shares. The Jaipur-based EPC company, focused on power transmission and distribution, opened its issue on September 23 and closes on September 25.
Swastika Infra saw subscription of 3.07 times on the final day as of the given time. Brokerages see its order book, utility clients and asset-light model as positives, while DISCOM dependence, working-capital needs, execution timelines and customer concentration remain concerns.
Elevate Campuses Elevate Campuses has launched its Rs 2,100 crore IPO in the Rs 343-362 price band, with a lot size of 41 shares. The issue, which opened on September 23 and closes on September 25, will fund acquisitions, debt repayment and growth. The maiden stake sale saw a muted response from the issue, getting bids for only 34 per cent as of the given time on the last day of the bidding.
The education infrastructure player’s high occupancy, sizeable student accommodation portfolio and institutional contracts have drawn positive brokerage views, though elevated debt, valuation and execution remain key risks.
Adroit Industries Adroit Industries is looking to raise Rs 151 crore through its IPO, priced at Rs 126-134 per share, with a lot size of 111 shares. The issue opened on September 23 and closes on September 25. It managed a best response from the investors, getting subscriptions for more than 63 times, mostly driven by HNI and retail investors.
The auto-component maker, which manufactures propeller shafts and torque-transmission products, gets support from its operational efficiency, improving returns, capacity expansion and low leverage. However, rich valuations, slower revenue growth and export exposure could weigh on the outlook.
Moneyview Moneyview is tapping the IPO market with a Rs 1,092 crore issue at Rs 32-34 per share and a lot size of 441 shares. The issue opened on September 24 and closes on September 28. The IPO was booked more than 3.40 times as of 1 pm on the second day of the bidding. It was booked nearly 1.5 times on first day.
The Bengaluru-based digital lending and financial-services platform has attracted positive brokerage commentary for its asset-light model, expanding user base, AI-led underwriting and improving profitability. Rising Stage 3 loans, unsecured lending exposure, credit costs, regulatory risks and competition remain key concerns.
A-One Steels A-One Steels has set a Rs 385-405 price band for its Rs 405 crore IPO, with a lot size of 37 shares. The issue opened on September 24 and will close on September 28. The issue managed to sail through on the second day as it was booked 93 per cent as of the reported time on Friday, September 25.
The New Delhi-based steel maker benefits from backward integration, improving profitability, planned capacity expansion and debt reduction. Brokerages are broadly positive, although the cyclical nature of the steel industry, raw-material price swings and the need for sustained earnings and margin growth remain risks.
Runwal Enterprises Runwal Enterprises is raising Rs 500 crore through a fresh issue priced at Rs 290-305 per share, with a lot size of 49 shares. Its IPO opened on September 25 and closes on September 29. The issue was off to a muted start on first day as it was overall subscribed only 20 per cent in the initial three hours of bidding.
The Mumbai-focused developer’s established franchise, project pipeline, premiumisation and redevelopment opportunities are key positives. Brokerages have a mixed view, with negative cash flows, leverage, geographical concentration, competition and execution risks tempering the outlook.
Orient Cables Orient Cables is seeking Rs 552 crore through its IPO, with shares priced at Rs 258-272 and a lot size of 55 shares. The issue opened on September 25 and closes on September 29. The issue managed to sail through in the first three hours of the subscription. It was booked 91 per cent as of 1 pm on Friday, September 25.
The networking cable maker offers exposure to data centres, 5G, renewables and EVs, with diversification and market-share gains supporting the brokerage outlook. However, demanding valuations, lower margins, customer concentration, raw-material volatility, working capital and execution are key concerns.
AceVector AceVector, the parent of Snapdeal, is raising Rs 420 crore through its IPO at Rs 30-32 per share, with a lot size of 468 shares. The issue opened on September 25 and closes on September 29. The e-commerce player saw the weakest performance among the all issues. It was booked only six per cent in the first three hours.
Its diversified digital-commerce ecosystem and Unicommerce SaaS business are key positives. However, brokerages remain cautious over persistent losses, cash burn, intense competition, low market share and high marketing and fulfilment costs, with profitability remaining a major concern.
German Green Steel & Power German Green Steel & Power is raising Rs 304 crore through its IPO at Rs 132-139 per share, with a lot size of 107 shares. The issue opened on September 25 and closes on September 29. The issue saw a decent response from the investors with 66 per cent subscription on the first day.
Its vertically integrated operations, captive power, improving earnings, capacity expansion and strong Gujarat distribution network support the brokerage outlook. However, steel-price volatility, sector cyclicality, customer concentration, dealer dependence and declining return on net worth remain key concerns.
The IPO rush continues at Dalal Street with investors having an option to apply for as many as 10 issues on Friday. These issues are cumulatively raising nearly Rs 6,000 crore from primary market investors. One should note that 4 IPOs shall close for bidding today, while four have opened today. Remaining two issues have their day two of subscription on Friday, September 25.
ArMee Infotech ArMee Infotech is raising Rs 300 crore through its IPO at Rs 350-375 per share, with a lot size of 40 shares. The IT solutions and infrastructure player opened its issue on September 23 and closes on September 25. The IPO of Armee Infotech was overall subscribed 1.66 times as of 1 pm on third day of the subscription.
Brokerages see its project pipeline, client base and diversification as positives, while declining profitability, higher leverage and execution risks remain key concerns.
Swastika Infra Swastika Infra is raising Rs 161 crore through its IPO at Rs 175-185 per share, with a lot size of 81 shares. The Jaipur-based EPC company, focused on power transmission and distribution, opened its issue on September 23 and closes on September 25.
Swastika Infra saw subscription of 3.07 times on the final day as of the given time. Brokerages see its order book, utility clients and asset-light model as positives, while DISCOM dependence, working-capital needs, execution timelines and customer concentration remain concerns.
Elevate Campuses Elevate Campuses has launched its Rs 2,100 crore IPO in the Rs 343-362 price band, with a lot size of 41 shares. The issue, which opened on September 23 and closes on September 25, will fund acquisitions, debt repayment and growth. The maiden stake sale saw a muted response from the issue, getting bids for only 34 per cent as of the given time on the last day of the bidding.
The education infrastructure player’s high occupancy, sizeable student accommodation portfolio and institutional contracts have drawn positive brokerage views, though elevated debt, valuation and execution remain key risks.
Adroit Industries Adroit Industries is looking to raise Rs 151 crore through its IPO, priced at Rs 126-134 per share, with a lot size of 111 shares. The issue opened on September 23 and closes on September 25. It managed a best response from the investors, getting subscriptions for more than 63 times, mostly driven by HNI and retail investors.
The auto-component maker, which manufactures propeller shafts and torque-transmission products, gets support from its operational efficiency, improving returns, capacity expansion and low leverage. However, rich valuations, slower revenue growth and export exposure could weigh on the outlook.
Moneyview Moneyview is tapping the IPO market with a Rs 1,092 crore issue at Rs 32-34 per share and a lot size of 441 shares. The issue opened on September 24 and closes on September 28. The IPO was booked more than 3.40 times as of 1 pm on the second day of the bidding. It was booked nearly 1.5 times on first day.
The Bengaluru-based digital lending and financial-services platform has attracted positive brokerage commentary for its asset-light model, expanding user base, AI-led underwriting and improving profitability. Rising Stage 3 loans, unsecured lending exposure, credit costs, regulatory risks and competition remain key concerns.
A-One Steels A-One Steels has set a Rs 385-405 price band for its Rs 405 crore IPO, with a lot size of 37 shares. The issue opened on September 24 and will close on September 28. The issue managed to sail through on the second day as it was booked 93 per cent as of the reported time on Friday, September 25.
The New Delhi-based steel maker benefits from backward integration, improving profitability, planned capacity expansion and debt reduction. Brokerages are broadly positive, although the cyclical nature of the steel industry, raw-material price swings and the need for sustained earnings and margin growth remain risks.
Runwal Enterprises Runwal Enterprises is raising Rs 500 crore through a fresh issue priced at Rs 290-305 per share, with a lot size of 49 shares. Its IPO opened on September 25 and closes on September 29. The issue was off to a muted start on first day as it was overall subscribed only 20 per cent in the initial three hours of bidding.
The Mumbai-focused developer’s established franchise, project pipeline, premiumisation and redevelopment opportunities are key positives. Brokerages have a mixed view, with negative cash flows, leverage, geographical concentration, competition and execution risks tempering the outlook.
Orient Cables Orient Cables is seeking Rs 552 crore through its IPO, with shares priced at Rs 258-272 and a lot size of 55 shares. The issue opened on September 25 and closes on September 29. The issue managed to sail through in the first three hours of the subscription. It was booked 91 per cent as of 1 pm on Friday, September 25.
The networking cable maker offers exposure to data centres, 5G, renewables and EVs, with diversification and market-share gains supporting the brokerage outlook. However, demanding valuations, lower margins, customer concentration, raw-material volatility, working capital and execution are key concerns.
AceVector AceVector, the parent of Snapdeal, is raising Rs 420 crore through its IPO at Rs 30-32 per share, with a lot size of 468 shares. The issue opened on September 25 and closes on September 29. The e-commerce player saw the weakest performance among the all issues. It was booked only six per cent in the first three hours.
Its diversified digital-commerce ecosystem and Unicommerce SaaS business are key positives. However, brokerages remain cautious over persistent losses, cash burn, intense competition, low market share and high marketing and fulfilment costs, with profitability remaining a major concern.
German Green Steel & Power German Green Steel & Power is raising Rs 304 crore through its IPO at Rs 132-139 per share, with a lot size of 107 shares. The issue opened on September 25 and closes on September 29. The issue saw a decent response from the investors with 66 per cent subscription on the first day.
Its vertically integrated operations, captive power, improving earnings, capacity expansion and strong Gujarat distribution network support the brokerage outlook. However, steel-price volatility, sector cyclicality, customer concentration, dealer dependence and declining return on net worth remain key concerns.