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Indian IPO fundraising is projected to exceed one lakh crore rupees in 2026. This milestone has been achieved previously in 2021, 2024, and 2025. Upcoming IPOs from NSE and Jio Platforms are expected to significantly boost total collections. Elevated share valuations and strong domestic investor appetite encourage companies to list. Robust market liquidity and consistent mutual fund inflows are driving this trend. View More
Mumbai: Fundraising through IPOs in the country is on course to breach the ₹1 lakh crore mark in 2026, making it only the fourth year in history to cross this milestone. So far this year, 81 IPOs have mobilised around ₹83,062 crore. The upcoming IPO of NSE, which is likely to raise around ₹23,000 crore, is expected to take the overall tally past ₹1.06 lakh crore. The issue is likely to open next week. The ₹1 lakh crore milestone was previously breached in 2025, 2024 and 2021, when 103, 91 and 63 IPOs raised ₹1.76 lakh crore, ₹1.6 lakh crore and ₹1.19 lakh crore, respectively. The Jio Platforms' IPO in October or November, estimated at around ₹35,000 crore, could further boost the fundraising tally. ET Bureau If both NSE and Jio Platforms complete their issues as expected, total IPO fundraising in 2026 could cross ₹1.44 lakh crore, making it the third-largest year for IPO collections. Companies have been encouraged to tap the IPO market by elevated share valuations and sustained appetite for equities from domestic institutional investors, led by mutual funds flush with inflows from local investors. Live Events Read more: Sebi launches Demat 2.0 pilot for tokenised corporate bonds " With almost ₹6 lakh crore of DII flows into Indian markets in 2026 so far, promoters know there is a high probability of a guaranteed buyer for their paper," said Aditya Kondawar, partner and vice-president, Complete Circle Capital. "A few IPOs are definitely not tapping the market for growth capital, but just for good multiples and to list before their approval lapses. The market may be bad for price discovery, but good for liquidity discovery," he said. Read more: Ahead of Market: 10 things that will decide stock market action on Friday September has already seen 18 IPOs raise around ₹9,390 crore, while 23 IPOs launched in August raised around ₹28,649 crore. The strong fundraising activity comes amid improved listing gains in recent months. Around 28 IPOs listed in August and September so far delivered average listing gains of around 25%, according to ET calculations. In comparison, the 41 companies that made their stock market debuts between January and July recorded average listing-day gains of 5%. This compares with an average listing-day gain of 10% per issue in 2025. "There is strong liquidity in the market at this point. We are witnessing strong retail liquidity and do not see any slowdown in SIP flows. We are seeing strong inflows, and a majority of IPOs have been getting subscribed or oversubscribed," said Kranthi Bathini, equity strategist at WealthMills. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Sonaselection India will launch its IPO on September 17 at Rs 94-99 per share, targeting around Rs 141.6 crore. The Rajasthan-based fabric maker will use proceeds to repay borrowings, buy machinery and fund corporate purposes before NSE-BSE listing. View More
Rajasthan-based fabric maker Sonaselection India Ltd will launch its initial public offering on September 17, with a price band of Rs 94-99 per share, the company said on Thursday. The anchor investor portion will open a day earlier, on September 16, while the issue will close on September 21. The offering comprises a fresh issue of up to 14.3 million equity shares with a face value of Rs 10 each. At the upper end of the price band, the issue size is around Rs 141.6 crore. The minimum bid is 150 shares. An investor will have to invest at least Rs 14,850 at the upper end of the price band. The company plans to use the IPO proceeds to repay or prepay, in full or in part, certain bank borrowings. It will also use the funds to purchase plant and machinery for its existing manufacturing facility in Bhilwara, Rajasthan. A portion will be used for general corporate purposes. Live Events Sonaselection is an integrated fabric manufacturing and processing company. It manufactures 100% cotton fabric, cotton lycra, cotton blends and polyester blends, besides processing cotton, polyester-viscose and polyester fabrics. Its manufacturing facility in Bhilwara is spread across about 49,540 square metres and has an installed processing capacity of 82.44 million metres a year, according to the company. The company expanded into the readymade garments segment in fiscal 2026 through its wholly owned subsidiary, Sionnah Enterprises Private Ltd. Sonaselection said its manufacturing model allows it to convert “raw textiles into finished, high-quality fabrics” while offering a diversified product portfolio. The equity shares are proposed to be listed on the BSE and NSE. Choice Capital Advisors is the book-running lead manager, while KFin Technologies is the registrar to the issue. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
A severe demand-supply mismatch and safety hazards in unregulated PGs are creating a major real estate opportunity for organized, institutional student housing in India. View More
The Suez Canal experienced a striking 42% increase in revenue during July, attributed to the rerouting of maritime traffic caused by the closure of the Strait of Hormuz and ongoing Houthi threats. More than 1,300 vessels passed through, significantly up from the previous year. View More
Suez Canal revenue rose 42% in July from the year earlier, as the Iran war’s effective closure of the Strait of Hormuz and Houthi threats in the southern Red Sea led more ships to use the Egyptian waterway. A total of 1,340 vessels transited the canal that month, according to data from state statistics agency CAPMAS. That’s 27% more than in July 2025 and compares with 1,208 ships this June, extending a partial recovery that began earlier in the year. Bloomberg Oil tankers accounted for 526 of July’s vessels, versus 485 the month before. The increase likely at least partly reflects the rerouting of Saudi Arabian oil exports via the Red Sea due to the shuttering of Hormuz. A subsequent threat from Yemen’s Houthi rebels has spurred many ships to exit north rather than cross the Bab El-Mandeb, another chokepoint. Canal income rose to $505 million in July, CAPMAS data showed, the highest monthly level since December 2023. Traffic volumes plunged in early 2024 when the Houthis began targeting international shipping in the southern Red Sea to pressure Israel during its war against Hamas in Gaza. Live Events The waterway that’s the shortest sea route between Europe and Asia has, along with tourism and overseas remittances, traditionally been a key source of foreign exchange for Egypt. The Suez Canal Authority expects full-year revenue to climb to between $5.8 billion and $6 billion from $4.1 billion in 2025, Chairman Osama Rabie told a local TV talkshow last week. Bloomberg Despite the recent uptick, both crossings and revenue remain far below their pre-Gaza war levels. The waterway brought in a record $10.2 billion in 2023 and some 2,300 ships crossed in April of that year, according to CAPMAS data. The resurgence is expected to continue in the coming months, with both the re-rerouting of Asia-bound oil exports and a number of European shippers announcing the resumption of some of their Red Sea services, said Mohamed Abu Basha, head of macroeconomic analysis at investment bank EFG Hermes. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!
Mumbai ITAT allowed a taxpayer’s Section 54 exemption on investments in multiple residential properties for AY 2013-14, when the law referred to “a residential house”. The Tribunal also allowed ?20.44 lakh spent on civil and electrical work to make the newly purchased flat habitable. View More
Ancestral and self-acquired property have different legal implications under Hindu law, particularly when children seek a share in a parent’s property. Here’s what the law says about a child’s rights in a father’s property, including whether he can sell or gift it without their consent. View More
India's primary market is bustling with a surge in initial public offerings, making it a tough landscape for investors. With numerous options vying for scarce capital and focus, it’s essential for investors to evaluate the quality of businesses and their financial health diligently. Emphasizing sound valuation practices and thorough fundamental analysis is vital for informed choices, as prioritizing growth potential and reducing debt fosters better allocation of resources. View More
India’s primary market is witnessing a rush of IPOs, giving investors more options but also making it harder to decide where to deploy their money. With multiple issues competing for investor attention and capital at the same time, the challenge is no longer finding an IPO to apply for, but identifying the issue that offers the most attractive risk-reward opportunity. The scale of the opportunity and the dilemma was evident on Wednesday, September 9, when as many as 10 mainboard IPOs were at different stages of subscription. Six IPOs opened for subscription that day, three entered their second day of bidding, while another issue reached its final day. For retail investors with limited funds, applying to every issue may not be practical. The crowded IPO pipeline makes capital allocation an important part of the investment decision. Investors have to decide not only which IPOs look attractive, but also how much money they are willing to allocate to each issue. Investors face a capital-allocation dilemma When several IPOs are open simultaneously, investors have to choose between competing opportunities. A strong subscription response, high grey-market premium or market buzz can create a sense of urgency, but these factors alone may not justify an investment. Narendra Solanki, Head Fundamental Research - Investment Services, Anand Rathi Share and Stock Brokers, said investors should assess IPOs on business quality, financial performance, valuation, issue structure, management quality and post-listing growth potential. Live Events "In such a market environment, investors should evaluate IPOs based on key parameters, including business quality, financial performance (revenue/EBITDA/PAT growth, margins, ROCE/ROE and cash flows), valuation (P/E, EV/EBITDA, P/B and other relevant multiples relative to listed peers), IPO structure (fresh issue vs. OFS, with preference for issues where proceeds are meaningfully deployed towards growth, capex or deleveraging), management quality (promoter track record, corporate governance and related-party transactions), and post-listing growth and value-creation potential," Solanki explained. ALSO READ: Are NSE unlisted shareholders staring at losses? Here's what IPO pricing indicates "With multiple IPOs competing for investor capital, maintaining valuation discipline and focusing on fundamentals is more important than being driven by IPO excitement or short-term listing gains," he added. The current IPO rush spans businesses across sectors such as engineering, infrastructure, payments, rental services and industrials. While this gives investors greater choice, it also makes comparing companies on their fundamentals more important. G Chokkalingam, Founder of Equinomics Research, said investors should consider both fundamentals and tactical opportunities when evaluating IPOs. On valuations, he said investors should compare an IPO with listed peers and avoid paying a substantial premium to comparable companies. "So, in terms of the valuation comfort zone, as compared to an already listed player, whatever the valuation is at the high-flow time, one cannot give more than a 10–15–20% premium to what is already given to the existing peers. In case there is no comparable peer in the market, then we can look at the PE ratio and the PEG ratio," Chokkalingam said. He added that "Of course, PE ratios are always elevated these days for many Indian companies. So, one can look at the PE ratio, whether it is around 20. If it is more than 20, one can look at the PEG ratio, which is the PE ratio divided by the three-year profit growth." The use of IPO proceeds is another factor investors can consider, particularly whether the funds are being directed towards strengthening the business. "Another very important thing one can look at is whether the entire profits are going into the promoter's pocket, or whether at least some resources are going towards retiring the debt or capital expenditure. The preference can be given to the second category, where at least some money is going towards retiring the debt and towards capital expenditure," Chokkalingam said. Once the fundamental parameters are broadly comparable, investors can then assess tactical factors such as sector sentiment, retail participation and subscription demand. "When these things are more or less common, then you can see the tactical opportunity—whether the theme is now attractive. One way to look at it is whether the theme is right now attractive to the market. The second thing to look at is whether the retail float is very low and whether the subscription responses are very high, because they get listed probably at a higher price," Chokkalingam said. How important is GMP when evaluating an IPO? Grey market premium (GMP) can provide an indication of market sentiment and potential listing performance, but analysts caution against using it as the primary basis for an investment decision. Solanki said investors should first assess the underlying business and its valuation. "GMP can be a useful indicator of market sentiment and potential listing performance, but it should not be the primary factor when evaluating an IPO. Investors should first focus on the company’s business quality, financial performance, growth prospects, valuation, management quality, use of IPO proceeds and key risks. A strong GMP may indicate healthy investor interest, but it can also be driven by short-term speculation and may change significantly before listing. Conversely, a low or negative GMP does not necessarily mean the underlying business is unattractive," Solanki said. Chokkalingam similarly warned against relying on GMP without considering valuation. "Blindly looking at GMP is dangerous. There are many incidents where a huge grey market premium was followed by debuts at 30–40% losses as well. I am not saying one should not look at it, but it could be a combination of factors without totally ignoring the valuation comfort zone," said Chokkalingam. Disclaimer: This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser. Gaurav and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Six mainboard IPOs are in their second day of bidding, with subscriptions closing on September 11. The issues include Rentomojo, Karamtara Engineering, LCC Projects, Steamhouse India, Manipal Payment & Identity Solutions, and Asset Reconstruction. Rentomojo is the largest, aiming to raise Rs 1,255.57 crore. View More
The IPO action is heating up as six mainboard public issues enter the second day of bidding today, giving investors just three days—until September 11—to place their bids. With a diverse mix of offerings on the table, investors have plenty to track, from subscription trends and grey market premiums (GMP) to issue sizes and investor appetite. The six IPOs currently open for subscription include Rentomojo, Karamtara Engineering , LCC Projects , Steamhouse India , Manipal Payment & Identity Solutions, and Asset Reconstruction. Among the six offerings, Rentomojo IPO is the biggest, targeting a fundraising of Rs 1,255.57 crore. It is followed by Karamtara Engineering IPO , which aims to raise Rs 875 crore, while Manipal Payment & Identity Solutions IPO is seeking to raise around Rs 805 crore. Meanwhile, Asset Reconstruction IPO has an issue size of Rs 732.97 crore, while LCC Projects IPO and Steamhouse India IPO are looking to raise Rs 427.14 crore and Rs 414 crore, respectively. Investor interest has been particularly strong in three issues. Rentomojo, Karamtara Engineering and LCC Projects IPOs were fully subscribed on Day 1 itself, setting the stage for potentially strong bidding activity as they enter the second day. Live Events With all six issues now moving through the second day of subscription, investors will closely watch GMP movements, subscription numbers and category-wise demand to gauge market sentiment ahead of the September 11 closing date. Karamtara Engineering IPO Karamtara Engineering IPO is a book-built issue worth Rs 875 crore. The offering comprises a fresh issue of 2.66 crore shares aggregating to Rs 675 crore and an offer for sale of 78.74 lakh shares worth Rs 200 crore. The IPO opened for subscription on September 9 and close on September 11, 2026. The allotment is expected to be finalised on September 15, while the shares are scheduled to list on NSE and BSE on September 17. On Day 1, the IPO received an overall subscription of 1.27 times. The Retail Individual Investors (RIIs) category was subscribed 1.07 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 1.81 times. The Qualified Institutional Buyers (QIBs) category was subscribed 1.20 times. The price band has been fixed at Rs 241 to Rs 254 per share, with a lot size of 59 shares. Retail investors will need to invest a minimum of Rs 14,986 to bid for one lot at the upper end of the price band. JM Financial Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar. Karamtara Engineering IPO is currently commanding a GMP of Rs 75, translating into a premium of around 30% over the upper price band of Rs 254. Based on the current grey-market premium, the estimated listing price stands at around Rs 329 per share. LCC Projects IPO LCC Projects IPO is a book-built issue of Rs 427.14 crore. The issue comprises a fresh issue of 1.77 crore shares aggregating to Rs 258 crore and an offer for sale of 1.16 crore shares worth Rs 169.14 crore. The IPO opened on September 9 and remain open until September 11, with allotment expected to be finalised on September 15. The shares are proposed to be listed on NSE and BSE on September 17. On Day 1, the IPO received an overall subscription of 1.32 times. The Retail Individual Investors (RIIs) category was subscribed 1.26 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 1.72 times. The Qualified Institutional Buyers (QIBs) category was subscribed 1.14 times. The IPO has a price band of Rs 139 to Rs 146 per share and a lot size of 102 shares. Retail investors will need a minimum investment of Rs 14,892 for one lot at the upper price band. Motilal Oswal Investment Advisors Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar. LCC Projects IPO has a current GMP of Rs 45, representing a premium of around 30% over the upper price band of Rs 146. The implied listing price based on the latest GMP is around Rs 191 per share. Steamhouse India IPO Steamhouse India IPO is a Rs 414 crore book-built issue comprising a fresh issue of 4.36 crore shares worth Rs 353 crore and an offer for sale of 75.31 lakh shares aggregating to Rs 61 crore. The IPO opened for subscription on September 9 and closes on September 11. The allotment is expected on September 15, with a tentative listing date of September 17 on both NSE and BSE. On Day 1, the IPO received an overall subscription of 42%. The Retail Individual Investors (RIIs) category was subscribed 70%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 30%. The Qualified Institutional Buyers (QIBs) category has not yet received any bid. The price band has been fixed at Rs 77 to Rs 81 per share, while the lot size is 185 shares. Retail investors will require a minimum investment of Rs 14,985 for one lot at the upper price band. Equirus Capital Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar. Steamhouse India IPO is currently trading at a GMP of Rs 20, or approximately 25% above the upper price band of Rs 81. Based on the latest GMP, the estimated listing price is around Rs 101 per share. Manipal Payment & Identity Solutions IPO Manipal Payment & Identity Solutions IPO is a book-built issue of Rs 805 crore, making it the third-largest IPO among the six issues opening on September 9. The offering comprises a fresh issue of 94.40 lakh shares aggregating to Rs 320 crore and an offer for sale of 1.43 crore shares worth Rs 485 crore. On Day 1, the IPO received an overall subscription of 17%. The Retail Individual Investors (RIIs) category was subscribed 73%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 13%. The Qualified Institutional Buyers (QIBs) category has not yet received any bid. The IPO opened on September 9 and closes on September 11, 2026. The allotment is expected to be finalised on September 15, followed by a tentative listing on NSE and BSE on September 17. The price band has been fixed at Rs 322 to Rs 339 per share and the lot size is 44 shares. Retail investors will need a minimum investment of Rs 14,916 for one lot at the upper price band. Motilal Oswal Investment Advisors Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar. The IPO currently commands a GMP of Rs 8, translating into a premium of around 2% over the upper price band of Rs 339. Based on the latest GMP, the estimated listing price is around Rs 347 per share. Asset Reconstruction IPO Asset Reconstruction IPO is a Rs 732.97 crore book-built issue and is entirely an offer for sale. The issue comprises 5.27 crore shares worth Rs 732.97 crore, with no fresh issue component. On Day 1, the IPO received an overall subscription of 38%. The Retail Individual Investors (RIIs) category was subscribed 56%, while the Non-Institutional Investors (NIIs) portion saw a subscription of 33%. The Qualified Institutional Buyers (QIBs) category received a 9% bid. The IPO opens for subscription on September 9 and closes on September 11. The allotment is expected to be finalised on September 15, while the shares are scheduled to list on NSE and BSE on September 17. The price band has been set at Rs 132 to Rs 139 per share, with a lot size of 107 shares. The minimum retail investment at the upper price band is Rs 14,873. IIFL Capital Services Ltd. is the book-running lead manager and MUFG Intime India Pvt. Ltd. is the registrar. Asset Reconstruction IPO is currently commanding a GMP of Rs 24, or around 17% over the upper price band of Rs 139. This indicates an estimated listing price of approximately Rs 163 per share. Rentomojo IPO Rentomojo IPO is the biggest offering among the six IPOs opened on September 9, with the company looking to raise Rs 1,255.57 crore. The issue comprises a fresh issue of 37.15 lakh shares aggregating to Rs 150 crore and an offer for sale of 2.74 crore shares worth Rs 1,105.57 crore. On Day 1, the IPO received an overall subscription of 1.42 times. The Retail Individual Investors (RIIs) category was subscribed 1.54 times, while the Non-Institutional Investors (NIIs) portion saw a subscription of 2.46 times. The Qualified Institutional Buyers (QIBs) category was subscribed 41%. The IPO opened for subscription on September 9 and close on September 11, 2026. The allotment is expected to be finalised on September 15, while the shares are tentatively scheduled to list on NSE and BSE on September 17. Rentomojo IPO has a price band of Rs 384 to Rs 404 per share and a lot size of 37 shares. Retail investors will need a minimum investment of Rs 14,948 for one lot at the upper price band. Motilal Oswal Investment Advisors Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar. The IPO is attracting significant attention in the grey market, with the latest GMP at Rs 130 per share. This represents a premium of around 35% over the upper price band of Rs 404. Based on the current GMP, the estimated listing price is around Rs 547 per share. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Four SME IPOs, Maharaja & Speedex India, Raksan Transformers, Panchatv Bharat and Om Galaxy, open today, with Maharaja & Speedex leading the grey market at 16%, followed by Raksan Transformers at 9%. View More
The SME IPO segment is set for a busy day as four public issues—Maharaja & Speedex India, Raksan Transformers, Panchatv Bharat and Om Galaxy—open for subscription today, September 10, 2026. All four IPOs will be listed on the BSE SME platform. The subscription period will remain open until September 15, while allotment is expected to be finalised on September 16. The tentative listing date for all four issues is September 18, 2026. Investor interest is also being reflected in the grey market. Maharaja & Speedex India is commanding the highest GMP at 16%, while Raksan Transformers is trading at a 9% premium. Panchatv Bharat and Om Galaxy, meanwhile, have no GMP indication in the grey market so far. Maharaja & Speedex India IPO The Maharaja & Speedex India IPO is a book-built issue worth Rs 80.13 crore. The issue comprises a fresh issue of 34.46 lakh shares worth Rs 64.10 crore and an offer for sale (OFS) of 8.62 lakh shares worth Rs 16.03 crore. The IPO has a price band of Rs 177 to Rs 186 per share, with a lot size of 600 shares. At the upper end of the price band, the minimum retail investment is Rs 2,23,200, based on an application for 1,200 shares. Live Events The issue opens on September 10 and closes on September 15. Allotment is expected on September 16, followed by a tentative BSE SME listing on September 18. Choice Capital Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar. Choice Equity Broking Pvt. Ltd. is the market maker. Maharaja & Speedex India is currently commanding a 16% grey market premium (GMP), or approximately Rs 30 per share, based on the upper price band of Rs 186. At this GMP, the estimated listing price stands at around Rs 216 per share, although grey market indications are unofficial and can change before listing. Raksan Transformers IPO The Raksan Transformers IPO is the largest issue among the four, with a total size of Rs 150.50 crore. The issue consists of a fresh issue of 44.13 lakh shares aggregating to Rs 120.47 crore and an OFS of 11 lakh shares worth Rs 30.03 crore. The IPO price band has been fixed at Rs 258 to Rs 273 per share, while the lot size is 400 shares. Based on the upper price band, retail investors need to invest Rs 2,18,400 for 800 shares. The issue will remain open from September 10 to September 15, with allotment expected on September 16 and a tentative BSE SME listing on September 18. Hem Securities Ltd. is the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar. Raksan Transformers is commanding a 9% GMP, or about Rs 25 per share, over its upper price band of Rs 273. Based on the current GMP, the estimated listing price is around Rs 298 per share. Panchatv Bharat IPO The Panchatv Bharat IPO is a fixed-price issue worth Rs 24.58 crore. Unlike the other issues, the IPO is entirely a fresh issue comprising 17.56 lakh shares. The issue price has been fixed at Rs 140 per share, with a lot size of 1,000 shares. The IPO opens today, September 10, and closes on September 15. Allotment is expected on September 16, with the shares likely to make their BSE SME debut on September 18. Mark Corporate Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar. There is no GMP indication available for Panchatv Bharat IPO in the grey market currently. As a result, there is no unofficial premium-based listing estimate available at this stage. Om Galaxy IPO The Om Galaxy IPO is a book-built issue worth Rs 105 crore and is entirely a fresh issue of 1.17 crore shares. The price band has been set at Rs 85 to Rs 90 per share, with a lot size of 1,600 shares. At the upper price band, the minimum retail investment requirement is Rs 2,88,000, based on an application for 3,200 shares. The IPO opens on September 10 and closes on September 15. Allotment is expected to be finalized on September 16, while the tentative listing date on the BSE SME platform is September 18. Indorient Financial Services Ltd. is the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar. Om Galaxy currently has no GMP indication in the grey market. Therefore, there is no unofficial listing premium estimate available for the issue. With four SME IPOs opening simultaneously, investors will have several factors to weigh, including issue size, valuation, minimum investment, subscription demand and grey market trends. For now, Maharaja & Speedex India has the strongest grey-market indication at 16%, followed by Raksan Transformers at 9%. However, GMP is an unofficial indicator and should not be treated as a guaranteed listing gain. Investors should also evaluate the companies' financial performance, business prospects, valuations and risk factors before making an investment decision. All four issues are scheduled to close on September 15, making the coming trading sessions important for investors tracking India's active SME IPO market. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. 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