IPO Alert: 6 Companies to Raise Rs 3,825 Crore Next Week
Six mainboard companies, including Elevate Campuses and Varmora Granito, are set to enter the primary market next week with initial public offerings (IPOs) collectively targeting around Rs 3,825 crore, as India's IPO market continues to see strong activity in 2026.
Along with Elevate Campuses and Varmora Granito, A-One Steels India Ltd, ArMee Infotech Ltd, Swastika Infra and Adroit Industries (India) Ltd will also launch their public issues.
The six IPOs are scheduled to open for subscription between September 22 and September 28, with most of the offerings opening on September 23.
Companies are expected to use the proceeds from the fresh issues for a range of purposes, including expansion, capital expenditure, debt repayment, working capital and general corporate requirements.
IPO market remains busy in 2026
The upcoming issues come after an active start to September, during which 17 IPOs have already been completed. The IPOs of the National Stock Exchange (NSE) and textile company Sonaselection India Ltd are currently open.
With the latest offerings, the number of companies launching IPOs in 2026 is expected to reach 87, including 23 issues in August.
Kamraj Singh Negi, Managing Director and CEO of Pantomath Capital, said the primary market has regained momentum, with July and August together accounting for nearly 60% of the Rs 83,062 crore raised through IPOs so far this year.
He said the current issuance pace and the size of the pipeline could potentially push fundraising beyond last year's level, although the final outcome would depend on market conditions and the timing of individual issues.
Negi also pointed to a substantial pipeline of companies awaiting or having received regulatory clearance. According to him, 167 companies have received SEBI approval, representing a potential issue size of around Rs 3.06 lakh crore, while another 71 companies with an estimated issue size of Rs 1.60 lakh crore are awaiting approval.
Elevate Campuses IPO
Hillhouse Investment-backed Elevate Campuses will launch its Rs 2,100-crore IPO on September 23. The price band has been fixed at Rs 343-362 per share.
The three-day issue will close on September 25, with the company's shares expected to list on September 30. The offering consists entirely of a fresh issue of equity shares and does not include an Offer for Sale (OFS) component.
Varmora Granito IPO
Tiles and bathware manufacturer Varmora Granito will open its Rs 708-crore IPO for subscription from September 22 to September 24. The price band is Rs 140-148 per share.
The issue comprises a fresh issue of up to Rs 320 crore and an OFS of 2.62 crore shares worth up to Rs 388 crore by investor Katsura Investments.
A-One Steels India IPO
Integrated steel manufacturer A-One Steels India plans to raise Rs 405 crore through its maiden public offering.
The IPO will open on September 24 and close on September 28, with a price band of Rs 385-405 per share. It consists of a fresh issue worth Rs 355 crore and an OFS of up to Rs 50 crore by promoters.
ArMee Infotech IPO
Technology infrastructure and renewable energy company ArMee Infotech will launch its Rs 300-crore IPO from September 23 to September 25.
The price band has been set at Rs 350-375 per share. The issue will comprise entirely a fresh issue of equity shares.
Swastika Infra IPO
Swastika Infra, an EPC solutions provider involved in power distribution and infrastructure projects, will float its Rs 161-crore IPO between September 23 and September 25.
The price band has been fixed at Rs 175-185 per share.
Adroit Industries IPO
Adroit Industries (India) Ltd will launch its Rs 151-crore public issue from September 23 to September 25.
The IPO will have a price band of Rs 126-134 per share.
With six companies preparing to tap investors in the coming week, the primary market is set for another busy phase as issuers continue to leverage the strong IPO pipeline in 2026. ALSO READ:
