The primary market is gearing up for an exceptionally busy week starting September 22, 2026. Investors are closely watching as 19 initial public offerings (IPOs) are scheduled to hit the market, collectively aiming to raise approximately 4169 crore rupees. Out of these, 6 are mainboard IPOs which are expected to mobilize 3825 crore rupees. This surge in activity comes at a time when the market has already seen 17 IPOs in September alone, with the National Stock Exchange (NSE) and Sona Selection India issues currently ongoing. With these new additions, the total number of companies launching IPOs in 2026 is projected to reach 87.
Major Mainboard IPOs to Watch
The mainboard segment will be dominated by several high-profile issues. Elevate Campuses, backed by Hillhouse Investment, is set to launch its 2100 crore rupees IPO on September 23. The company has fixed a price band of 343 to 362 rupees per share. This three-day issue will conclude on September 25, with the listing proposed for September 30. Notably, this IPO consists entirely of fresh shares with no offer-for-sale (OFS) component.
Varmora Granito is another significant player, bringing a 708 crore rupees IPO that will be open from September 22 to September 24. The price band for this issue is set at 140 to 148 rupees per share. The offering includes a fresh issue of shares worth up to 320 crore rupees, while investor Katsura Investments will offer 2 crore 62 lakh shares worth approximately 388 crore rupees through an OFS.
Other Key Mainboard Offerings
A-One Steels India Limited, an integrated steel maker based in Bengaluru, aims to raise 405 crore rupees between September 24 and September 28. The company has established a price band of 385 to 405 rupees. This includes a fresh issue of 355 crore rupees and an OFS of up to 50 crore rupees from the promoters. Army Infotech is also entering the fray with a 300 crore rupees IPO from September 23 to September 25, with a price band of 350 to 375 rupees per share, consisting entirely of fresh shares.
Swastika Infra, a provider of EPC solutions for power distribution and infrastructure projects, will open its 161 crore rupees IPO from September 23 to September 25. The price band is fixed at 175 to 185 rupees per share. Also, Adroit Industries (India) will launch its 151 crore rupees IPO during the same period, with a price band of 126 to 134 rupees per share.
SME Segment and Market Listings
The SME segment is also buzzing with activity. Companies like Vivekanand Cotspin, FX Multitech, and Robokidz Eduventures will open their issues on September 21. Himalaya Nutravedics and Anand Smooth will follow on September 22. On September 23, several other SME issues including Coreintegra Consulting, Sai Urja Indo Ventures, Pooja Logistics, Liquid Digital India, SK Offset, and Unitech Fibers will open. Peshwa Wheat is scheduled for September 24, while Benchmark Infotech Services will open on September 25.
In addition to new openings, the market will witness 12 listings next week. The most anticipated is the NSE listing, although its grey market premium (GMP) has reportedly dropped to around 3 percent, indicating tempered expectations. Other listings include SpectraA Technology Solutions with a GMP of approximately 38 percent and SS Retail with a GMP of around 34 percent. Conversely, Hero Motors is trading at a negative GMP, reflecting weak sentiment in the grey market.
Market Outlook and SEBI Pipeline
According to Kamraj Singh Negi, MD and CEO of Pantomath Capital, the IPO activity in 2026 has been strong. Out of the 83062 crore rupees raised so far this year, July and August accounted for nearly 60 percent. The pipeline remains strong, with 167 companies having received SEBI approval to raise approximately 3 lakh 6 thousand crore rupees. Also, 71 companies are awaiting approval for issues totaling about 1 lakh 60 thousand crore rupees. This suggests that the current year is likely to surpass previous records in terms of capital raised through the primary market.