India’s primary market gears up for a busy week with seven companies set to raise more than Rs 6,400 crore, reflecting sustained investor interest amid market volatility.
India’s primary market is set for a busy week, with seven companies preparing to launch initial public offerings between 17 and 21 August that together aim to raise more than Rs 6,400 crore. The line-up includes Blackstone-backed Horizon Industrial Parks and jewellery retailer Lalita Jewellery Mart, underscoring how deeply the market’s fundraising pipeline remains stocked.
The week begins on 17 August with Horizon Industrial Parks, which is seeking Rs 2,600 crore through a pure fresh issue. The company plans to use the proceeds to pay down debt, and it has set a price band of Rs 57 to Rs 60 per share. On the same day, Lalita Jewellery Mart will open its Rs 1,700 crore issue, which combines a fresh issue of up to Rs 1,200 crore with an offer for sale worth Rs 500 crore. Its price band has been fixed at Rs 190 to Rs 201 per share.
Activity continues on 18 August with two more offerings. Shankesh Jewellers is targeting Rs 367 crore at a price band of Rs 88 to Rs 93 a share, while Sunshine Pictures, a film and television producer, is planning a Rs 282 crore issue priced at Rs 342 to Rs 360 per share. On 19 August, Gaja Alternative Asset Management will enter the market with a Rs 550 crore offer, made up of a Rs 450 crore fresh issue and Rs 100 crore of secondary shares, at Rs 152 to Rs 160 per share.
On 20 August, Tempusense Instruments is due to launch its flotation, offering a Rs 95 crore fresh issue and 1.85 crore shares through an offer for sale. Its price band is still to be announced. The week closes on 21 August with Augmont Enterprises, which plans to raise Rs 825 crore through a mix of Rs 620 crore in fresh equity and Rs 205 crore in secondary sales. Its price band will be announced later in the week.
The pipeline does not end there. Skyways Air Services is preparing a Rs 583 crore IPO for 24 August, extending what has already been an active month for Indian listings. The broader trend fits a market that has stayed resilient through volatility: EY said Indian exchanges led global IPO activity in August 2023, while Business Standard reported that August 2024 brought Rs 17,047 crore in fundraising across 10 major listings, the strongest monthly total since May 2022. Moneycontrol also noted that seven companies came to market in August 2023, raising about Rs 4,711 crore, even as sentiment remained choppy.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
