Primary Market Update: Four New IPOs Including Rajputana Stainless to Open Next Week

The Indian primary market is preparing for a high-intensity week starting March 9, with multiple companies scheduled to launch their initial public offerings (IPOs). According to market filings, the upcoming week will see two mainboard issues, one Infrastructure Investment Trust (InvIT), and one SME segment IPO opening for public subscription, while this surge in activity follows a period of steady growth in the primary market, as companies seek to raise capital for expansion and debt repayment.

Details of Rajputana Stainless IPO

The Rajputana Stainless IPO is scheduled to open for subscription on March 9 and will conclude on March 11.98 crore. 25 crore. The company has fixed the price band for the issue at ₹116 to ₹122 per share. Nirbhay Capital Services Private Limited is acting as the book-running lead manager, while KFin Technologies Limited has been appointed as the registrar for the issue.

Innovision IPO Subscription and Price Band

Innovision Limited will launch its IPO for bidding on March 10, with the closing date set for March 12.84 crore. The price band for the Innovision IPO has been established between ₹521 and ₹548 per share. Emkay Global Financial Services is managing the issue as the book-running lead manager, while similar to other major issues this week, KFin Technologies will handle the registrar responsibilities for this offering.

Rajmarg Infra Investment Trust (InvIT) Offering

One of the largest offerings of the week is the Rajmarg Infra Investment Trust (InvIT) IPO, which opens on March 11 and closes on March 13. This issue is a massive ₹6,000 crore book-built offering, consisting entirely of a fresh issue of 60 crore shares. The price band for the Rajmarg Infra InvIT has been set at ₹99 to ₹100 per share. SBI Capital Markets is the designated book-running lead manager for this infrastructure-focused issue. The trust aims to work with the proceeds for the acquisition and management of road assets as per official documents.

SME Segment and Upcoming Stock Market Listings

In the SME segment, Apsis Aerocom will open its IPO for subscription from March 11 to March 13.33 crore shares, with a price band of ₹104 to ₹110 per share. Beyond new subscriptions, the market will witness four major listings. SEDEMAC Mechatronics is expected to debut on BSE and NSE on March 11. Elfin Agro India is slated for a BSE SME listing on March 12, while Srinibas Pradhan Constructions will list on NSE SME on March 13. Acetech E-Commerce is scheduled to commence trading on NSE SME on March 9.