IPO investors are in for an exceptionally busy week, with as many as 10 mainboard IPOs scheduled to close between September 9 and September 11, market participants said.
The IPO calendar is quite interesting in the sense that six mainboard issues will close on September 11, so it will be a very busy day for investors looking to participate in new public offerings.
The week begins on September 9 when Pranav Constructions with an issue size of around ₹351 crore is scheduled to close.
The activity picks up on September 10 with three mainboard IPOs closing. Kanohar Electricals has an issue size of around ₹1,055 crore and Glass Wall Systems are looking at ₹427 crore. Prasol Chemicals will also close on the same day and has an issue size of about ₹500 crore.
And the greatest rush is on September 11, when six mainboard IPOs are expected to close.
The list includes Karamtara Engineering with an issue size around ₹875 crore and Manipal Payment & Identity Solutions with an issue size around ₹805 crore.
Steamhouse India is also expected to close on September 11 and the issue size is up to ₹425 crore. LCC Projects is another option that is around ₹427 crore and looks to attract investor attention on the same day.
The September 11 IPO rush also includes Rentomojo, which is looking at raising around ₹1,255 crore and is one of the bigger issues in the lineup. Asset Reconstruction Company, which is estimated to raise around ₹732 crore, rounds off the six IPOs that close on that day.
Collectively, the schedule represents a considerable amount of capital that is being sought through the primary market in just three trading days. Based on the issue sizes provided, the 10 offerings represent more than ₹6,800 crore in potential issue value but the final amount can vary depending on the structure and size of individual offerings.
The concentration creates challenges and opportunities for IPO investors. Many issues will close in a short time, so investors should be very careful in assessing the business model of a company, financial performance and valuation, its growth prospects and risk factors as well as the IPO atmosphere.
The unusual concentration on September 11 could also prompt more investor interest in the event that multiple applications are competing for available capital. Investors will need to keep track of subscription trends, grey market activity where possible, valuation metrics and fundamentals in the respective offer documents.
If the public IPO pipeline is a good indication of the continuing interest in India’s core equity market, companies are turning to public markets for funding and investors are looking for opportunities to invest in businesses at the IPO stage.
As such, with 10 mainboard IPOs closing in one week and six on September 11, the coming week could be one of the busiest periods for IPO investors in recent memory.
What would be investors' reaction to a very packed IPO week?
IPO Closing Calendar
Date IPO Approx. Issue Size
September 9 Pranav Constructions ₹351 Cr
September 10 Kanohar Electricals ₹1,055 Cr
September 10 Glass Wall Systems ₹427 Cr
September 10 Prasol Chemicals ₹500 Cr
September 11 Karamtara Engineering ₹875 Cr
September 11 Manipal Payment & Identity Solutions ₹805 Cr
September 11 Steamhouse India Up to ₹425 Cr
September 11 LCC Projects ₹427 Cr
September 11 Rentomojo ₹1,255 Cr
September 11 Asset Reconstruction Company ₹732 Cr
Note that IPO dates and issue sizes may change depending on the official filings and exchange updates. Investors should verify the latest information in the respective offer documents before applying.
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