The IPO market is heading into one of its busiest weeks, with 12 mainboard issues set to open for subscription and collectively looking to raise more than Rs 7,100 crore. With several large issues opening within days of each other, investors will have a wide choice but will also need to compare valuations, business prospects, issue size and grey market trends before subscribing.
In the week starting September 7, Rentomojo, Kanohar Electricals, Karamtara Engineering and Manipal Payment & Identity Solutions are among the biggest IPOs hitting the primary market. Manika Plastech, which is yet to announce its final price band and issue size, will also open for subscription on September 11.
With the September IPOs included, total fundraising through public issues this calendar year has reached nearly Rs 87,900 crore.
Full List Of Mainboard IPOs Opening This Week
Here's a quick glance at the mainboard IPOs opening this week (September 7-11).
Biggest IPOs Opening This Week
- Rentomojo — Rs 1,255.57 crore
- Kanohar Electricals — Rs 1,055.74 crore
- Karamtara Engineering — Rs 875 crore
- Manipal Payment & Identity Solutions — Rs 805 crore
- Asset Reconstruction Co. — Rs 732.97 crore
IPOs opening On September 7
1. Pranav Constructions IPO
The Pranav Constructions IPO will be open for subscription from Sept. 7 to Sept. 9. It aims to raise Rs 351.03 crore through a book-built issue. The offer comprises a fresh issue of 2.55 crore shares worth Rs 315.60 crore and an offer-for-sale (OFS) of 28.57 lakh shares amounting to Rs 35.43 crore.
Offer Size: Rs 351.03 crore
Price Band: Rs 118 to Rs 124
Lot Size: 120 shares
Registrar: KFin Technologies Ltd.
Credit of Shares: Sept. 11
Refund: Sept. 11
Listing Date: Sept. 15
The company specialises in real estate development, primarily focusing on redevelopment projects in the Municipal Corporation of Greater Mumbai (MCGM) Region.
IPOs opening On September 8
1. Kanohar Electricals IPO
The Kanohar Electricals IPO will be open for subscription from Sept. 8 to Sept. 10. It aims to raise Rs 1,055.74 crore through the book-built issue. The offer comprises a fresh issue of 47.47 lakh shares worth Rs 300 crore and an offer-for-sale (OFS) of 1.20 crore shares amounting to Rs 755.74 crore.
Offer Size: Rs 1,055.74 crore
Price Band: Rs 601 to Rs 632
Lot Size: 23 shares
Registrar: MUFG Intime India Pvt. Ltd.
Credit of Shares: Sept. 15
Refund: Sept. 15
Listing Date: Sept. 16
The company specialises in manufacturing heavy electrical equipment, power transformers, and electrical distribution solutions.
2. Glass Wall Systems (India) IPO
The Glass Wall Systems IPO will be open for subscription from Sept. 8 to Sept. 10. It comprises a total issue of Rs 427.89 crore, including a fresh issue of 32.97 lakh shares worth Rs 60 crore and an offer-for-sale (OFS) of 2.02 crore shares amounting to Rs 367.89 crore.
Offer Size: Rs 427.89 crore
Price Band: Rs 172 to Rs 182
Lot Size: 82 shares
Registrar: MUFG Intime India Pvt. Ltd.
Credit of Shares: Sept. 15
Refund: Sept. 15
Listing Date: Sept. 16
The company manufactures architectural glass and facade solutions.
3. Prasol Chemicals IPO
The Prasol Chemicals IPO will be open for bidding from Sept. 8 to Sept. 10. The offer is a book-built issue of Rs 500 crore, featuring a fresh issue of 11.83 lakh shares worth Rs 80 crore and an offer-for-sale (OFS) of 62.13 lakh shares worth Rs 420 crore.
Offer Size: Rs 500 crore
Price Band: Rs 643 to Rs 676
Lot Size: 22 shares
Registrar: KFin Technologies Ltd.
Credit of Shares: Sept. 15
Refund: Sept. 15
Listing Date: Sept. 16
Prasol Chemicals manufactures speciality chemicals, with operations spanning phosphorus and acrylic acid derivatives.
IPOs opening On September 9
1. Karamtara Engineering IPO
Investors can bid for shares in the Karamtara Engineering IPO from Sept. 9 to Sept. 11. The book-built issue is worth Rs 875 crore, comprising a fresh issue of 2.66 crore shares (Rs 675 crore) and an offer-for-sale (OFS) of 78.74 lakh shares (Rs 200 crore).
Offer Size: Rs 875 crore
Price Band: Rs 241 to Rs 254
Lot Size: 59 shares
Registrar: MUFG Intime India Pvt. Ltd.
Credit of Shares: Sept. 16
Refund: Sept. 16
Listing Date: Sept. 17
The company specialises in power transmission and distribution infrastructure products, structural steel, and fasteners.
2. LCC Projects IPO
The LCC Projects IPO will be open for subscription from Sept. 9 to Sept. 11. The total issue size is Rs 427.14 crore, consisting of a fresh issue of 1.77 crore shares worth Rs 258 crore and an offer-for-sale (OFS) of 1.16 crore shares worth Rs 169.14 crore.
Offer Size: Rs 427.14 crore
Price Band: Rs 139 to Rs 146
Lot Size: 102 shares
Registrar: KFin Technologies Ltd.
Credit of Shares: Sept. 16
Refund: Sept. 16
Listing Date: Sept. 17
LCC Projects is an engineering, procurement, and construction (EPC) company focused on water supply, irrigation, and infrastructure construction.
3. Steamhouse India IPO
The Steamhouse India IPO will open for bidding from Sept. 9 to Sept. 11. The issue size is Rs 414 crore, featuring a fresh issue of Rs 353 crore and an offer-for-sale (OFS) of Rs 61 crore.
Offer Size: Rs 414 crore
Price Band: To be announced
Lot Size: To be announced
Registrar: KFin Technologies Ltd.
Credit of Shares: Sept. 16
Refund: Sept. 16
Listing Date: Sept. 17
Steamhouse India provides steam energy generation and distribution solutions for industrial operations.
4. Asset Reconstruction Co. (India) IPO
The Asset Reconstruction Co. (India) IPO will open for subscription from Sept. 9 to Sept. 11. The issue entirely comprises an offer-for-sale (OFS) of 5.27 crore shares amounting to Rs 732.97 crore.
Offer Size: Rs 732.97 crore
Price Band: Rs 132 to Rs 139
Lot Size: 107 shares
Registrar: MUFG Intime India Pvt. Ltd.
Credit of Shares: Sept. 15
Refund: Sept. 15
Listing Date: Sept. 16
The company specialises in asset reconstruction and non-performing asset (NPA) resolution.
ALSO READ: NSE IPO: Exchange Plans To Announce Price Band By September 11, Say Sources
5. Manipal Payment & Identity Solutions IPO
The Manipal Payment & Identity Solutions IPO will be open for subscription from Sept. 9 to Sept. 11. The issue is valued at Rs 805 crore and comprises a fresh issue of 94.40 lakh shares worth Rs 320 crore along with an offer-for-sale (OFS) of 1.43 crore shares worth Rs 485 crore.
Offer Size: Rs 805 crore
Price Band: Rs 322 to Rs 339
Lot Size: 44 shares
Registrar: MUFG Intime India Pvt. Ltd.
Credit of Shares: Sept. 16
Refund: Sept. 16
Listing Date: Sept. 17
The firm provides secure payment solutions, smart card manufacturing, and identity technology services.
6. Rentomojo IPO
The Rentomojo IPO will open for bidding from Sept. 9 to Sept. 11. The IPO is a book-built issue worth Rs 1,255.57 crore. It consists of a fresh issue of 37.15 lakh shares aggregating to Rs 150 crore and an offer-for-sale (OFS) of 2.74 crore shares aggregating to Rs 1,105.57 crore.
Offer Size: Rs 1,255.57 crore
Price Band: Rs 384 to Rs 404
Lot Size: 37 shares
Registrar: KFin Technologies Ltd.
Credit of Shares: Sept. 16
Refund: Sept. 16
Listing Date: Sept. 17
Rentomojo is an online rental platform offering furniture, appliances and electronics on subscription.
IPOs opening On September 10
1. Veegaland Developers IPO
The Veegaland Developers IPO will be open for subscription from Sept. 10 to Sept. 15. The issue comprises only a fresh issue of 1.50 crore shares aggregating to Rs 210 crore.
Offer Size: Rs 210 crore
Price Band: Rs 130 to Rs 140
Lot Size: 107 shares
Registrar: MUFG Intime India Pvt. Ltd.
Credit of Shares: Sept. 17
Refund: Sept. 17
Listing Date: Sept. 18
The company is a real estate developer based in Kerala, building residential and commercial projects.
IPOs opening On September 11
1. Manika Plastech IPO
The Manika Plastech IPO will be open for subscription from Sept. 11 to Sept. 16. The issue comprises a fresh issue of Rs 92.50 crore and offer for sale of 76.74 lakh shares.
Offer Size: To be Announced
Price Band: To be Announced
Lot Size: To be Announced
Registrar: MUFG Intime India Pvt. Ltd.
Credit of Shares: Sept. 18
Refund: Sept. 18
Listing Date: Sept. 21
The company is engaged in the manufacturing of rigid polymer packaging products, including battery casings, pails and thinwall containers.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
