October IPO Bonanza: 12 Mega Issues Worth Thousands of Crores Ready to Hit D-Street
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Dalal Street is gearing up for a bustling festive season as India's primary markets prepare to host approximately 12 high-profile Initial Public Offerings (IPOs) throughout October 2026. The incoming pipeline features heavyweights and unicorns across contract manufacturing, telecommunications, defense tech, clean energy, and healthcare, highlighted by marquee names such as Jio Platforms, Zetwerk Manufacturing Businesses, and Avaada Electro. India's primary market momentum has maintained a torrid pace throughout 2026, with 96 public issues collectively mobilizing more than ₹1.1 lakh crore so far—including 35 listings in September alone. Despite underlying geopolitical friction and secondary market volatility, capital demand remains robust as institutional and retail investors prepare for one of the busiest fundraising months of the fiscal year.
Zetwerk Plans ₹5,000-Crore Market Debut: Fresh Issue and OFS Structure Unveiled
B2B manufacturing unicorn Zetwerk is ready to lead the pack with a sizable market offering:
Fundraising Structure: Technology-driven custom manufacturing platform Zetwerk plans to raise approximately ₹5,000 crore, combining a fresh issue of shares worth ₹2,600 crore alongside an Offer for Sale (OFS) of up to 96.8 million existing equity shares.
Subscription Window: The public issue is scheduled to open for subscription on October 15 and close on October 19, with the final price band and lot details slated for formal release on Monday.
Market Outlook: According to Neha Agarwal, Head of Equity Capital Markets at JM Financial, institutional appetite remains positive for high-growth industrials, although issuers are carefully timing their launch windows to navigate global headwinds.
Niche Tech & Manufacturing Issues: HD Fire Protect, Fusion CX, and Tonbo Imaging
Several sector-focused companies have already locked their issue dates and price bands for the coming week:
HD Fire Protect (₹712 Crore): The fire protection equipment manufacturer has fixed its price band at ₹258 to ₹271 per share. The issue, structured entirely as an Offer for Sale with proceeds flowing to selling shareholders, opens on October 13 and concludes on October 15.
Fusion CX (₹702 Crore): AI-powered customer experience solutions provider Fusion CX has priced its IPO between ₹275 and ₹289 per share. The bidding window opens on October 14 and closes on October 16.
Tonbo Imaging: Defense-grade electro-optics and thermal imaging manufacturer Tonbo Imaging has proposed an OFS of up to 12.2 million shares, opening for bidding between October 15 and October 19.
Bonfiglioli Transmissions: The Indian subsidiary of Italian industrial power transmission giant Bonfiglioli Group will offer up to 43.2 million existing equity shares, running concurrently from October 15 to October 19.
Renewable Energy, Healthcare & Infrastructure: Big-Ticket Pipeline in Focus
The secondary half of October features an expansive lineup of capital-intensive sectors tapping public equity:
Avaada Electro (₹7,600 Crore): Clean energy manufacturing giant Avaada Electro is advancing plans for a massive ₹7,600-crore public issue featuring both primary issuance and an OFS component.
Paras Healthcare (₹1,800 Crore): Multi-specialty hospital chain Paras Healthcare is advancing its ₹1,800-crore issue to expand regional tertiary medical capacity across North and East India.
NDR InvIT Trust & Gujarat Victory Forgings: NDR InvIT Trust is preparing a ₹750-crore issuance to monetize warehousing infrastructure, while Gujarat Victory Forgings has filed papers to offload up to 19.7 million equity shares.
SFC Environmental Technologies: Environmental engineering firm SFC Environmental Technologies plans to issue ₹150 crore in fresh equity alongside an OFS of 12.3 million shares to scale municipal and industrial wastewater treatment solutions.
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