India’s primary market faces a busy week with ten initial public offerings, including two mainboard issues from Sona Selection India and the National Stock Exchange, alongside a raft of SME launches, reflecting strong and diverse fundraising activity across the market.
Primary market investors in India are set for a busy week, with 10 initial public offerings on the calendar as September trading continues. Two mainboard issues, from Sona Selection India and the National Stock Exchange of India, are already open, while further offers from Varmora Granito and Elevate Campuses are due to follow. A cluster of smaller SME issues is also scheduled to launch, underlining the steady pace of fundraising across the market.
Sona Selection India opened its offer on 17 September and is due to close on 21 September, with shares priced between ₹94 and ₹99 each. According to IPO trackers, the company is looking to raise about ₹142 crore, and the issue size implies a minimum investment of ₹14,850 for the standard lot of 150 shares. The shares are proposed for listing on both the BSE and NSE.
The National Stock Exchange of India’s long-awaited public issue also opened on 17 September and closes on 21 September. Livemint reported that the price band has been fixed at ₹1,700 to ₹1,785 a share, with a lot size of eight shares. India Infoline said the offer values the issue at about ₹22,569 crore, representing 5.11% of the paid-up equity, while other market trackers said the stock is slated for listing on the BSE and NSE.
More action is due later in the week. Varmora Granito is set to open its issue on 22 September, followed by Elevate Campuses on 23 September. In the SME market, FX Multitech, Vivekanand Cotspin and Robokidz Eduventures are scheduled to open on 21 September, while Himalaya Nutravedics India, Unitec Fibres and S. K. Offset are due to launch on 22 or 23 September. The line-up suggests that investors will have a broad choice across large and small offers, with price bands ranging from ₹35 to ₹1,785 a share.
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