19 IPOs raise ₹7,550 crore in a week of market volatility
Despite secondary market weakness, 19 companies debuted on Indian exchanges this week, raising a total of ₹7,550 crore.
Nineteen companies launched initial public offerings (IPOs) in India this week, raising a combined ₹7,550 crore. According to data from Trendlyne, the listings proceeded despite pressure on the secondary market from geopolitical tensions, high crude oil prices, and foreign investor selling.
The activity was split between the mainboard and SME segments. Eleven mainboard companies raised approximately ₹7,053 crore, while eight smaller firms from the SME segment raised about ₹496 crore.
Mainboard IPO Performance
Rentomojo was the largest mainboard issue, raising ₹1,255.57 crore. It was followed by Kanohar Electricals at ₹1,055.74 crore and Manipal Payment & Identity Solutions at ₹805 crore. Other mainboard debuts included Asset Reconstruction Company (India), Karamtara Engineering, LCC Projects, Steamhouse India, Glass Wall Systems (India), Prasol Chemicals, and Veegaland Developers.
Demand was strong for several offers. Rentomojo's issue was subscribed 72.9 times, Kanohar Electricals saw 90.6 subscriptions, and Glass Wall Systems was subscribed 81.7 times.
Listing gains, however, were mixed. Rentomojo debuted at a 19.4% premium, LCC Projects listed at a 29.4% premium, and Karamtara Engineering saw a 26% premium. In contrast, Prasol Chemicals listed at around a 10% discount. Veegaland Developers, which raised ₹210 crore and debuted on Friday, September 18, opened at a 10% premium on the National Stock Exchange.
| Company | Issue Size (₹ crore) | Subscription (times) | Listing Premium/Discount |
|---|---|---|---|
| Rentomojo | 1,255.57 | 72.9 | 19.4% premium |
| Kanohar Electricals | 1,055.74 | 90.6 | Not specified |
| LCC Projects | Not specified | Not specified | 29.4% premium |
| Karamtara Engineering | Not specified | Not specified | 26% premium |
| Prasol Chemicals | 500 | Not specified | ~10% discount |
| Veegaland Developers | 210 | Not specified | 10% premium |
SME Segment Activity
The SME segment saw eight listings. Raksan Transformers raised the most at ₹150.50 crore, followed by Om Galaxy at ₹105 crore and Maharaja & Speedex India at ₹80.13 crore. The five other issues were smaller, ranging from about ₹17.9 crore to ₹42.8 crore.
Only two SME stocks managed double-digit listing gains. Maharaja & Speedex India debuted at a 34.4% premium, and Amtech Esters listed at a 33.3% premium.
Market Context and Annual Trend
The primary market activity contrasted with a struggling secondary market. The Nifty 50 index fell 0.22% for the week, marking its sixth consecutive weekly decline.
The week's listings add to a busy year for Indian IPOs. So far in 2026, 220 companies have listed their shares, following a record 376 listings in 2025. Trendlyne data shows that of the 2026 listings, 136 stocks are trading above their issue price while 84 are in the red, resulting in an average gain of 27.71%.
