Upcoming IPO’s This Week: 6 New Mainboard Issues Open From September 22, NSE IPO Closes Monday
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Six mainboard IPOs, including Varmora Granito and Elevate Campuses, will open this week, while the NSE IPO and Sona Selection India IPO close on September 21. Check the complete IPO calendar, price bands, issue sizes and key dates.
Upcoming IPO’s this week: India's primary market is heading into a busy week, with six mainboard IPOs set to open for subscription from Tuesday, while the ₹22,569-crore NSE IPO will close its bidding window on Monday.
Varmora Granito, Elevate Campuses, ArMee Infotech, Swastika Infra, Adroit Industries India and A-One Steels India are scheduled to tap the market between September 22 and September 24, taking the combined size of the six new issues to around ₹3,825 crore.
The week will also see several SME IPOs open for subscription, while NSE and Sona Selection India will close their respective IPOs on September 21.
Mainboard IPO Calendar
Varmora Granito | September 22 | September 24 | ₹140-₹148 | ₹708 crore |
Elevate Campuses | September 23 | September 25 | ₹343-₹362 | ₹2,100 crore |
ArMee Infotech | September 23 | September 25 | ₹350-₹375 | ₹300 crore |
Swastika Infra | September 23 | September 25 | ₹175-₹185 | ₹161 crore |
Adroit Industries India | September 23 | September 25 | ₹126-₹134 | ₹151 crore |
A-One Steels India | September 24 | September 28 | ₹385-₹405 | ₹405 crore |
The six issues together account for about ₹3,825 crore in proposed fundraising.
Varmora Granito IPO
Varmora Granito will be the first mainboard IPO to open this week, with subscription beginning on September 22. The issue will close on September 24.
The company has fixed the price band at ₹140-₹148 per share and is looking to raise about ₹708 crore. The issue comprises a fresh issue of ₹320 crore and an offer for sale of around ₹388 crore.
Elevate Campuses IPO
Elevate Campuses IPO will open on September 23 and close on September 25. At ₹2,100 crore, it is the largest of the six mainboard issues opening this week.
The price band has been set at ₹343-₹362 per share. The issue is entirely a fresh issue of shares.
ArMee Infotech IPO
ArMee Infotech is also scheduled to open its IPO on September 23, with the bidding window closing on September 25. The company plans to raise ₹300 crore through a fresh issue and has fixed the price band at ₹350-₹375 per share. The lot size is 40 shares, translating into a minimum investment of ₹15,000 at the upper end of the price band. The issue will be followed by the allotment and listing process after the subscription period ends.
Swastika Infra IPO
Swastika Infra will open its IPO on September 23 and close on September 25. The company is looking to raise around ₹161 crore through the issue.
The price band is ₹175-₹185 per share. The issue includes both a fresh issue and an offer for sale.
Adroit Industries India IPO
Adroit Industries India is scheduled to open its IPO on September 23, with the issue closing on September 25.
The company has set a price band of ₹126-₹134 per share and plans to raise around ₹151 crore through the IPO.
A-One Steels India IPO
A-One Steels India will be the last of the six mainboard IPOs to open this week. Its IPO will open on September 24 and remain open until September 28.
The company has fixed the price band at ₹385-₹405 per share and is looking to raise ₹405 crore. The issue consists of a fresh issue of ₹355 crore and an offer for sale of ₹50 crore.
NSE IPO Closes On September 21
The NSE IPO will be the key issue to watch at the start of the week as its subscription window closes on Monday, September 21.
The ₹22,569 crore IPO has a price band of ₹1,700-₹1,785 per share, with a lot size of eight shares. NSE's own issue information confirms the price range and final bidding date.
The IPO is an offer for sale, with existing shareholders selling shares in the issue. NSE shares are scheduled to list on September 24.
IPO Listings This Week
The primary market will also see a series of listings during the week. Manika Plastech is scheduled to make its market debut on September 21, while Hero Motors, SS Retail and Jindal Supreme (India) are scheduled to list on September 23. NSE and Sona Selection India are expected to make their debut on September 24.
With the NSE IPO closing at the start of the week and six new mainboard issues entering the market from Tuesday, investors will have a succession of subscription deadlines and listing events to track through the week.
Also Read - Hi-Tech Flow Solutions Files DRHP For IPO With ₹300 Crore Fresh Issue, Promoters To Offload Shares
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
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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