Busy Week Ahead On India's Primary Market — 13 IPOs To Open And Eight Listings

The upcoming week starting Sept. 9 will be one of the busiest for India's primary market this year as 13 companies will look to mop up an aggregate of over Rs 8,600 crore via initial public offerings.

In this lineup, three of the four companies from the mainboard space will open for subscription on the first session of the week led by Bajaj Housing Finance Ltd.

Bajaj Housing Finance, the wholly-owned subsidiary of Bajaj Finance Ltd. aims to mop up Rs 6,560 crore at a price band of Rs 66 to 70 per share. The valuation at the upper end of the price band stands at about Rs 58,297 crore. The IPO comprises a fresh issue amounting to Rs 3,560 crore and an offer-for-sale aggregating to Rs 3,000 crore from its promoter company Bajaj Finance.

Kross Ltd. seeks to raise Rs 500 crore at a price band of Rs 228 to Rs 240 per share. The Jharkhand-based company's initial share sale is a combination of a fresh issue of equity shares worth Rs 250 crore and an offer-for-sale of equity shares worth another Rs 250 crore, according to the draft IPO papers filed with the Securities and Exchange Board of India.

Tolins Tyres Ltd. has set a price band of Rs 215 to Rs 226 per share for its Rs 230 crore issue. The Kerala-based company's initial share sale is a combination of a fresh issue of equity shares worth Rs 200 crore and an offer-for-sale of equity shares to the tune of Rs 30 crore.

PN Gadgil Jewellers Ltd. has set a price band of Rs 456 to Rs 480 per share for its Rs 1,100 crore issue. The Pune-based company's initial share sale is a combination of a fresh issue of equity shares worth Rs 850 crore and an offer-for-sale of equity shares worth Rs 250 crore.

On Monday, the bidding for Shubhshree Biofuels Energy Ltd., Share Samadhan  Ltd., Gajanand International Ltd, and Aditya Ultra Steel will open in the SME space.

The public offerings of SPP Polymer and Trafiksol ITS Technologies Ltd. will open for subscription on Sept. 10 at a price band of Rs 59 per share and Rs 66 - 70 per share, respectively. SPP Polymer seeks to raise Rs 24 crore while Trafiksol will mop up Rs 45 crore.

Excellent Wires and Packaging Ltd. and Innomet Advanced Materials Ltd. will begin seeing subscriptions from Sept. 11 while the week will end with the opening of Envirotech Systems Ltd.'s offering.

Meanwhile, eight companies will debut on the stock exchanges during the week with two in the mainboard space.

Gala Precision Engineering Ltd. will list on both the National bourses after its IPO was subscribed 201.41 times. It became the second biggest in terms of subscription so far in 2024 with bids led by non-institutional investors and institutional investors.

The initial public offering of Shree Tirupati Balajee Agro Trading Co. has been subscribed 15.16 times so far on its second day of subscription. The shares will debut on the stock exchanges on Sept. 12.

The scrips of Jeyyam Global Foods Ltd., Naturewings Holidays Ltd., Mach Conferences and Events Ltd., Namo eWaste Management Ltd., My Mudra Fincorp Ltd., and Vision Infra Equipment Solutions Ltd. will debut in the SME during the week.