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.
Varmora Granito’s ₹708-crore IPO will be available for public subscription during September 22-24. The price band for the public issue was fixed at ₹140-148 per equity share.
The tiles & bathware maker’s IPO comprises a fresh issue of equity shares aggregating up to ₹320 crore and an offer for sale (OFS) of 2.62 crore shares worth up to ₹388 crore by investor Katsura Investments.
Integrated steel manufacturer A-One Steels India is aiming to raise ₹405 crore through its maiden public offering, which will open on September 24 and close on September 28. The price band was fixed at ₹385-405 per share.
The IPO comprises a fresh issue of equity shares worth ₹355 crore and an offer for sale (OFS) of shares aggregating up to ₹50 crore by promoters.
Integrated technology infrastructure and renewable energy company ArMee Infotech will launch its ₹300-crore IPO from September 23-25. The price band has been fixed at ₹350-375 per share for the offering, which is entirely a fresh issue of equity shares.
Swastika Infra, an EPC solutions provider in power distribution and infrastructure projects, will float its ₹161-crore IPO from September 23-25, with a price band of ₹175-185 per share.
Adroit Industries (India) Ltd’s ₹151-crore issue will open from September 23-25 with a price band of ₹126-134 per share.
Published – September 20, 2026 12:34 pm IST
