Eleven Indian Companies To Tap Over Rs 10,000 Crore In September Via IPOs

Eleven Indian companies, from Sajjan Jindal Family Trust-backed JSW Infrastructure to Yatra Online, are eager to tap the primary market, enticed by the benchmark stock indices scaling fresh record highs.

These companies, among them, hope to raise over Rs 10,000 crore through the initial public offering route as the Nifty 50 soared over the 20,000 milestone for the first time on Monday. 

So far in September, three companies have already raised Rs 977 crore through the IPO route. Investor interest can be gauged by looking at the subscription rates for these three IPOs.

The most subscribed IPO of 2023 is Ideaforge Technology Ltd., with a total subscription of over 160 times.

In comparison, topping the September list, Ratnaveer Precision Engineering Ltd.'s IPO was subscribed to 94 times, led by retail investors subscribing more than 54 times.

EMS Ltd., which concluded its offering on Monday, stood second, with its IPO subscribed to 75 times. This was followed by Rishabh Instruments Ltd.'s IPO, which was subscribed to 31.6 times, led by institutional investors subscribing more than 72 times.

This week, the focus is on RR Kabel, Samhi Hotels, Zaggle Prepaid Ocean Services, and Michael Kaufman-backed Yatra Online, all aiming to gather Rs 4,673 crore from investors.

Next week, too, another three companies, viz., Sai Silks Kalamandir Ltd., Signature Global, and Manoj Vaibhav Gems Ltd., are planning to raise more than Rs 2,140 crore through the IPO.

But the lion's share of this month's IPO will come from JSW Infrastructure's public offering of Rs 2,800 crore through a fresh issue of shares, which will open in the last week of September, that is, between Sept. 25 and Sept. 28.