Six companies line up IPOs worth ₹3,825 crore amid brisk primary market activity

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Six mainboard companies, including Elevate Campuses and Varmora Granito, are set to tap the primary market next week, seeking to raise a combined ₹3,825 crore through initial public offerings (IPOs), as fundraising activity continues at a brisk pace in 2026.

Alongside these two issues, Bengaluru-based A-One Steels India Ltd, ArMee Infotech Ltd., Swastika Infra and Adroit Industries (India) Ltd will also launch their public offerings, taking the total number of IPOs scheduled for the week to six.

The IPOs will be available for public subscription between September 22 and September 28, with most of the issues opening on September 23.

The funds raised through the fresh issues will largely be utilised for business expansion, capital expenditure, debt repayment, working capital requirements and other general corporate purposes.

The upcoming IPO activity follows a busy start to September, with 17 IPOs already concluded. The mega issue of the National Stock Exchange (NSE) and textile maker Sonaselection India Ltd are currently underway.

With these offerings, the number of companies launching IPOs in 2026 is expected to rise to 87, including 23 issues in August.

"The primary market has clearly regained momentum, with July and August accounting for nearly 60% of the ₹83,062 crore raised through IPOs so far in 2026," said Kamraj Singh Negi, managing director and CEO, Pantomath Capital.

"With the current pace of issuance and the depth of the pipeline, the market has the potential to surpass last year's fundraising levels, although the eventual outcome will depend on market conditions and the timing of issuances, he added.

He further said that the outlook for the remainder of the year is particularly constructive, given the depth of the pipeline. As many as 167 companies already have SEBI approval, representing an estimated ₹3.06 lakh crore of potential issue size, while another 71 companies, with an estimated ₹1.60 lakh crore, are awaiting approval.

"This gives issuers considerable optionality to tap the market as conditions remain supportive," he added.

Hillhouse Investment-backed Elevate Campuses is set to hit the primary market with its ₹2,100-crore IPO on September 23, with shares priced in the ₹343-362 range.

The three-day public issue will close on September 25, with the listing expected on September 30.

The IPO comprises entirely a fresh issue of equity shares, with no Offer for Sale (OFS) component.