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The final week of September is set to be busy for India's thriving primary market, with 10 new IPOs scheduled between September 23 and 27. These include two mainboard IPOs and eight from the small and medium enterprises (SME) segment. Additionally, five SME IPOs from the prior week will continue.
KRN Heat Exchanger and Refrigeration Ltd. leads the upcoming IPOs, aiming to raise Rs 342 crore through a fresh issue of 1.55 crore shares. The price band is set at Rs 209–220 per share, with Rs 340 crore from the proceeds to be invested in its subsidiary, KRN HVAC Products Pvt.
Manba Finance Ltd., a non-banking financial company, will open its IPO for subscription from September 23 to 25. This mainboard IPO consists of a fresh issue of 1.26 crore shares, raising Rs 150.84 crore. The price band is fixed between Rs 114 and Rs 120.
In the SME segment, upcoming IPOs include Unilex Colours Ltd., TechEra Ltd., Rappid Valves Ltd., WOL 3D India Ltd., Forge Auto Ltd., Thinking Hats Ltd., Sahasra Electronics Ltd., and Divyadhan Recycling Ltd. Sahasra Electronics, one of the largest SME issues this year, plans to raise approximately Rs 186 crore, with a price range of Rs 269 to Rs 883, and bidding open from September 26 to 30.
According to the Reserve Bank of India's latest bulletin, September is poised to be the busiest month for IPOs in both the mainboard and SME segments over the past 14 years.
In addition to the new IPOs, 14 companies are set to list, including Arkade Developers Ltd., Northern Arc Capital Ltd., and Western Carriers Ltd., all debuting on the secondary market on September 24. In the SME sector, Osel Devices Ltd., Pelatro Ltd., Envirotech Systems Ltd., Deccan Transcon Leasing Ltd., and Popular Foundations Ltd. will list on September 24.
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