19 IPOs Raised ₹7,550 Crore In A Week As Primary Market Holds Firm

The Indian primary market continued to maintain strong momentum during the week from 14 September 2026 to 20 September 2026 despite geopolitical tensions, elevated crude oil prices and foreign investor selling weighing on the secondary market.

A total of 19 companies completed their stock-market debuts during the week. The IPO market included 11 mainboard companies and 8 small and medium enterprises (SME) firms, with the issues raising around ₹7,550 crore collectively.

Mainboard IPOs Account For ₹7,053 Crore Of Weekly Fundraising

The 11 mainboard companies raised around ₹7,053 crore during the week. Rentomojo accounted for the largest issue at ₹1,255.57 crore, followed by Kanohar Electricals at ₹1,055.74 crore and Manipal Payment & Identity Solutions at ₹805 crore.

On the National Stock Exchange (NSE) on Friday, 18 September 2026:

• Rentomojo shares closed at ₹512.75, down 4.02% from its previous close of ₹534.25. The stock opened at ₹570, touched a high of ₹581.95 and fell to a low of ₹492.10 during the session.

• Kanohar Electricals shares closed at ₹786.80, down 3.70% from ₹817. The stock opened at ₹825, rose to ₹855 and slipped to ₹780.10.

• Manipal Payment and Identity Solutions shares closed at ₹341.35, down 1.10% from ₹345.15. It opened at ₹348.90, hit a high of ₹349.95 and declined to a low of ₹329.00.

Other mainboard companies making their debuts included Asset Reconstruction Company (India), Karamtara Engineering, LCC Projects, Steamhouse India, Glass Wall Systems (India), Prasol Chemicals and Veegaland Developers.

The week's mainboard activity also showed that strong subscription demand did not always result in premium listings. Rentomojo was subscribed 72.9 times, Kanohar Electricals 90.6 times and Glass Wall Systems 81.7 times.

Veegaland Developers raised ₹210 crore and debuted on 18 September 2026 at a 10% premium to its IPO price on the National Stock Exchange (NSE). Prasol Chemicals, which raised ₹500 crore, instead listed at around a 10% discount to its IPO price, at ₹610.

SME IPOs Add ₹496 Crore To Primary Market Activity

Eight SME companies collectively raised ₹496 crore during the week. The SME IPOs were Panchatyat Bharat, Raksan Transformers, Om Galaxy, Maharaja & Speedex India, Amtech Esters, Vinod Texworld, Infrax Renewable and Apana Logistics.

Raksan Transformers raised ₹150.50 crore, while Om Galaxy and Maharaja & Speedex India raised ₹105 crore and ₹80.13 crore, respectively. The remaining five issues were smaller, with their issue sizes ranging from about ₹17.9 crore to ₹42.8 crore.

Listing performance was also notable among some SME IPOs. Maharaja & Speedex India and Amtech Esters recorded double-digit listing premiums of 34.4% and 33.3%, respectively.

IPO Listings Stay Robust Despite A Weak Secondary Market

The week’s listing activity, compared with the overall market’s performance, shows clear weakness in the secondary market. The Nifty 50 slipped 0.22% for the week, its sixth weekly dip in a row.

Within the mainboard segment

• LCC Projects listed at a 29.4% premium at ₹189

• Karamtara Engineering debuted 26% above its issue price

• Rentomojo listed at ₹482.40, representing a 19.4% premium to its ₹404 issue price, and was around 27% above its issue price.

The broader IPO market in 2026 also showed strong momentum. So far in 2026, firms listed on stock markets for mainboards and SME have stood at 220, of which 136 were above their issue prices and 84 below. The overall average gain was reported as 27.71%.

Also Read - Foreign Investors Turn Buyers As FIIs Bring ~₹600 Crore Into Indian Equities