India IPO Rush: 9 Public Issues To Open This Week As Zetwerk Leads The ₹10,506 Crore Fundraising Pipeline
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India’s primary market is set for a busy week beginning 12 October, with 9 companies planning to raise ₹10,506 crore through IPOs. 6 mainboard issues account for most of the fundraising, led by Zetwerk Manufacturing Business, Bonfiglioli Transmissions and HD Fire Protect. SME offerings will contribute the remaining amount, with subscriptions beginning on 13 October.
India’s primary market is expected to gather momentum in the week beginning 12 October, following relatively subdued activity in the previous week. 9 companies are scheduled to launch their initial public offerings (IPOs), spanning manufacturing, defence electronics, medical devices, customer experience management and engineering services.
The planned fundraising comprises ₹10,288 crore from mainboard offerings and ₹218 crore from small and medium enterprise (SME) issues. 15 October is expected to be the busiest day, with 5 public issues opening for subscription.
Mumbai-based HD Fire Protect IPO will open on 13 October, seeking to raise ₹712.3 crore through 2.62 crore equity shares. The fire protection equipment manufacturer has set a price band of ₹258–271 per share.
IPO Calendar: Five Issues Scheduled for 15 October
The Fusion CX IPO will open on 14 October. The Kolkata-based business process outsourcing and customer experience management company aims to raise ₹702 crore, comprising a fresh issue worth ₹500 crore and an offer for sale (OFS) worth ₹202 crore by its promoters. The price band is ₹275–289 per share.
The busiest day is expected to be 15 October, when five offerings are scheduled to open. Together, these issues represent approximately 88% of the planned fundraising for the week.
Company IPO | Issue size | Price band |
|---|---|---|
Zetwerk Manufacturing Business IPO | ₹5,012.3 crore | ₹143–151 |
Bonfiglioli Transmissions IPO | ₹2,533.6 crore | ₹558–586 |
Tonbo Imaging India IPO | ₹852 crore | ₹665–700 |
Sahajanand Medical Technologies IPO | ₹475.5 crore | ₹327–344 |
Shellz India IPO | ₹60 crore | ₹170–179 |
Zetwerk IPO Leads the Fundraising Pipeline
The Bengaluru-based Zetwerk Manufacturing Business IPO is the largest offering in the upcoming lineup. Promoted by Amrit Pratik Acharya and Srinath Ramakkrushnan, the technology-led manufacturing platform plans to raise ₹5,012.3 crore at the upper end of its price band. The issue includes a fresh share sale worth ₹2,830 crore and an OFS worth ₹2,182.3 crore by existing shareholders.
The Bonfiglioli Transmissions IPO is being launched by the Indian subsidiary of Italy’s Bonfiglioli S.p.A., which provides power transmission and drive solutions. Meanwhile, the Tonbo Imaging India IPO represents a defence electronics original equipment manufacturer, while the Sahajanand Medical Technologies IPO comes from a Gujarat-based cardiovascular medical device manufacturer.
All three offerings comprise entirely an OFS, with no fresh issue component.
SME IPOs Add Engineering and Consumer Businesses
The SME segment will see the Vaibhav Vyapaar IPO and Ravita Engineering Services IPO open on 13 October.
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Vaibhav Vyapaar IPO: The digital lending company plans to raise ₹42.1 crore, with a price band of ₹51–54 per share.
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Ravita Engineering Services IPO: The Kolkata-headquartered electro-mechanical projects and services provider aims to raise ₹116.05 crore at ₹105–112 per share.
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Shellz India IPO: The confectionery products manufacturer will offer 33.5 lakh shares at ₹170–179 per share.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Neha Dubey has spent 6+ years turning market chaos into something readable. At Kotak Neo, she works on IPOs and writes for the Market Ready newsletter — making sense of the markets so you don't have to.
Off the clock, she's chasing good stories, new cuisines, and the occasional impromptu singalong. A believer in small pleasures, with excellent taste for a well-timed splurge.
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