11 IPOs worth over ₹7,000cr opening for subscription next week
What's the story
The primary market is gearing up for a busy week, with 11 initial public offerings (IPOs) worth over ₹7,000 crore set to open for subscription between September 7 and September 10. The upcoming issues cover various sectors including construction, engineering, chemicals, technology, payments and real estate. The first of these is Pranav Constructions's IPO on September 7.
First mover
Pranav Constructions will kick off the IPO rush
Pranav Constructions is leading the IPO rush with a ₹351.03 crore issue. The offer includes a fresh issue of ₹315.60 crore and an offer for sale (OFS) worth ₹35.43 crore.
The price band has been fixed at ₹118-124 per share, and the issue will close on September 9.
This marks the start of a busy week in India's primary market as companies look to raise funds through public offerings.
Upcoming offers
Glass Wall Systems IPO opens on September 8
On September 8, three more companies will join the IPO rush. They are Glass Wall Systems (India), Prasol Chemicals, and Kanohar Electricals.
Glass Wall Systems hopes to raise ₹427.89 crore through a fresh issue of ₹60 crore and an OFS worth ₹367.89 crore at a price band of ₹172-182 per share.
The issue will close on September 10.
Larger offers
Prasol Chemicals is looking to raise ₹500 crore
Prasol Chemicals is looking to raise ₹500 crore with a fresh issue of ₹80 crore and an OFS of ₹420 crore at a price band of ₹643-676 per share. The issue will also close on September 10.
Kanohar Electricals, the largest among these three issues, plans to raise ₹1,055.74 crore through a fresh issue worth ₹300 crore and an OFS worth ₹755.74 crore at a price band of ₹601-632 per share.
Bulk launch
Six more issues will open on September 9
September 9 will see the opening of six IPOs: Karamtara Engineering, LCC Projects, Steamhouse, Manipal Payment & Identity Solutions, Asset Reconstruction, and Rentomojo.
Karamtara Engineering hopes to raise ₹875 crore through a fresh issue of ₹675 crore and an OFS worth ₹200 crore at a price band of ₹241-254 per share.
The issue will close on September 11.
Subscription specifics
LCC Projects and Steamhouse also opening on September 9
LCC Projects plans to raise ₹427.14 crore with a fresh issue of ₹258 crore and an OFS of ₹169.14 crore at a price band of ₹139-146 per share.
Steamhouse hopes to raise ₹414 crore through a fresh issue worth ₹353 crore and an OFS worth ₹61 crore.
The issue will open on September 9 and close on September 11.
Further offerings
Manipal Payment & Identity Solutions also joins on September 9
Manipal Payment & Identity Solutions hopes to raise ₹805 crore with a fresh issue of ₹320 crore and an OFS worth ₹485 crore at a price band of ₹322-339 per share.
Asset Reconstruction is also looking to raise ₹732.97 crore through an OFS of 5.27 crore shares at a price band of ₹132-139 per share.
The issue will open on September 9 and close on September 11.