₹3,825 Cr IPO Bonanza: 6 Mega Issues to Hit Dalal Street Next Week

• by Akanksha Mishra
• 2026-09-20 16:43:00

The primary capital market is gearing up for unprecedented activity as the robust initial public offering momentum of 2026 accelerates into late September. In an expansive fundraising blitz, six diverse corporate entities spanning education infrastructure, ceramics, steel manufacturing, IT infrastructure, power EPC, and precision engineering are scheduled to launch their maiden public issues next week. Collectively seeking to mop up ₹3,825 crore from domestic institutional investors, high-net-worth individuals, and retail market participants, these offerings will open for subscription across staggered windows between September 22 and September 28, 2026. This surge follows the completion of 17 successful mainboard IPOs earlier this year, positioning the cumulative market tally toward an estimated 87 corporate market debuts before the close of 2026.

Elevate Campuses Leads the Charge: ₹2,100 Crore Pure Fresh Issue Opens September 23

The marquee public issue of the upcoming week belongs to Hillhouse Investments-backed higher-education infrastructure developer Elevate Campuses, which aims to mobilize ₹2,100 crore directly from the primary market. The company's three-day subscription window will officially open for bidding on September 23 and conclude on September 25, targeting a stock exchange listing on the BSE and NSE on September 30. Elevate Campuses has fixed an attractive price band of ₹343 to ₹362 per equity share. Structurally, the offering consists entirely of a fresh issue of equity shares with zero offer-for-sale (OFS) component, meaning the entire net proceeds will be deployed directly toward corporate capital expenditure, capacity expansion, and institutional balance sheet strengthening.

Ceramic Major Varmora Granito Targets ₹708 Crore via Fresh Issue and OFS

Leading architectural surface, tile, and bathware manufacturer Varmora Granito is set to enter the market with a ₹708 crore public offering scheduled from September 22 to September 24. The Morbi-based ceramic powerhouse has set its share price band at ₹140 to ₹148 per share. The IPO structure features a balanced capital-raising model, comprising a fresh equity issuance of up to ₹320 crore to fund operational growth, alongside an offer-for-sale segment where private equity investor Katsura Investment will offload 2.62 crore equity shares worth approximately ₹388 crore, facilitating a partial institutional exit while broadening the firm's public shareholder base.

A-One Steels India Prepares ₹405 Crore Mainboard Debut to Power Expansion

Integrated steel and structural products manufacturer A-One Steels India is finalizing preparations to raise ₹405 crore through its maiden market outing. The subscription period will open on September 24 and run until September 28, allowing investors five days across the weekend window to submit bids. The price band has been established at ₹385 to ₹405 per share. To finance backward integration and manufacturing scalability, the company is issuing fresh equity shares worth ₹355 crore, while founding promoters will dilute a modest equity block worth up to ₹50 crore via an offer-for-sale route.

IT Solutions and Clean Energy Player ArMee Infotech Rolls Out ₹300 Crore Issue

Technology infrastructure and renewable energy solutions provider ArMee Infotech will open its ₹300 crore public issue between September 23 and September 25. The company has defined an official price bracket of ₹350 to ₹375 per equity share. Mirroring Elevate Campuses' capital strategy, ArMee Infotech's offering is structured entirely as an issuance of new equity shares without any secondary promoter divestment, channeling all raised funds toward next-generation technology contracts, green energy project installations, and working capital requirements.

Power EPC Firm Swastika Infra and Adroit Industries Launch ₹312 Crore Combined Issues

Rounding out the active week, two specialized industrial engineering and infrastructure players are presenting compact issues to institutional and retail investors. Swastika Infra, a premier Engineering, Procurement, and Construction (EPC) solutions provider catering to electrical power distribution and heavy infrastructure utilities, will launch its ₹161 crore issue from September 23 to September 25 with an assigned price band of ₹175 to ₹185 per share. Concurrently, precision auto-component manufacturer Adroit Industries will access public markets across the identical three-day window of September 23 to September 25 to raise ₹151 crore, pricing its shares in a competitive range of ₹126 to ₹134 per share to complete a dynamic week of capital formation on Dalal Street.

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