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Upcoming IPOs This Week: ₹900 Crores in 11 Offerings, 14 Listings – Key Details You Need to Know

IPO Bonanza This Week: ₹900 Crores in 11 Offerings, 14 Listings – Key Details You Need to Know
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The IPO frenzy continues as India’s primary market gears up for another action-packed week. A total of 11 new companies are set to debut, including two highly anticipated mainboard listings and nine SME IPOs. Collectively, these companies are aiming to raise a substantial ₹900.13 crore. 

Adding to the excitement, 14 listings are scheduled, featuring notable names like Arkade Developers, Northern Arc Capital, and Western Carriers, which have already garnered significant investor interest. Let’s dive into the details of these upcoming IPOs and see what they offer.

Manba Finance Ltd. IPO

Source: RHP

Manba Finance Limited is offering a book built issue of ₹150.84 crores. The IPO is scheduled to be listed on both BSE and NSE, with the allotment expected on September 26th and the listing tentatively set for September 30th. The minimum lot size is 125 shares, requiring a minimum investment of ₹15,000 for retail investors. For HNIs, the minimum lot size investment is ₹210,000 for sNII and ₹1,005,000 for bNII.

Objectives of Manba Finance IPO

Manba Finance plans to use the IPO proceeds to augment its capital base and meet future capital requirements.

Manba Finance GMP

The current grey market premium (GMP) for Manba Finance is ₹60. This suggests that the company’s shares are trading at a premium of ₹60 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹180, which is 50% higher than the IPO price.

Company Overview

Manba Finance Limited is a non-banking finance company (NBFC-BL) that offers financial solutions for new and used two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, small business loans, and personal loans. They primarily target employees and the self-employed, tailoring their offerings to each customer category. The company finances up to 85% of the vehicle’s purchase price and has branches in urban, semi-urban, and metropolitan areas. They have established relationships with over 1,100 dealers, including 190 EV dealers.

Financial Strength

Manba Finance has shown strong financial growth, with revenue increasing by 44% and profit after tax (PAT) rising by 90% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of Manba Finance Ltd IPO. 

KRN Heat Exchanger and Refrigeration Limited IPO

Source: RHP

KRN Heat Exchanger is offering a book built issue of ₹341.95 crores. The IPO is scheduled to be listed on both BSE and NSE, with the allotment expected on September 30th and the listing tentatively set for October 3rd. The minimum lot size is 65 shares, requiring a minimum investment of ₹14,300 for retail investors. For HNIs, the minimum lot size investment is ₹200,200 for sNII and ₹1,001,000 for bNII.

Objectives of KRN Head Exchanger IPO

KRN Heat Exchanger plans to use the IPO proceeds to:

  • Invest in its wholly-owned subsidiary, KRN HVAC Products Pvt Ltd, to set up a new manufacturing facility in Neemrana, Rajasthan.
  • General corporate purposes

KRN Head Exchanger GMP

The current grey market premium (GMP) for KRN Heat Exchanger is ₹223. This suggests that the company’s shares are trading at a premium of ₹223 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹443, which is 101.36% higher than the IPO price.

Company Overview

KRN Heat Exchanger and Refrigeration Limited is a leading manufacturer of fin and tube-type heat exchangers. They manufacture copper and aluminum fins and copper tubes heat exchangers, water coils, condenser coils, and evaporator coils. The company’s products are used in the domestic, commercial, and industrial HVAC&R industry. They export their products to countries including UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, and more.

Financial Strength

KRN Heat Exchanger has shown strong financial growth, with revenue increasing from ₹250.02 crores in FY23 to ₹313.60 crores in FY24 and profit after tax rising from ₹31.51 crores to ₹39.88 crores. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of KRN Heat Exchanger and Refrigeration Limited

WOL 3D India Ltd. IPO

Source: RHP


WOL 3D India Limited is offering a book built issue of ₹25.56 crores. The IPO includes a fresh issue of ₹21.78 crores and an offer for sale of ₹3.78 crores. The shares will be listed on NSE SME, with the allotment expected on September 26th and the listing tentatively set for September 30th. The minimum lot size is 1000 shares, requiring a minimum investment of ₹150,000 for retail investors and ₹300,000 for HNIs.

Objectives of WOL 3D India Ltd. IPO

WOL 3D India plans to use the IPO proceeds for:

  • Repayment of outstanding borrowings
  • Funding working capital requirements
  • General corporate purposes

GMP

The current grey market premium (GMP) for WOL 3D is ₹65. This suggests that the company’s shares are trading at a premium of ₹65 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹215, which is 43.33% higher than the IPO price.

Company Overview

WOL 3D India Limited is a company that provides 3D printing solutions for various sectors, including manufacturing, education, engineering, architecture, interior design, fashion design, product design, medical, and dental. They offer a range of products, including 3D printers, scanners, engravers, pens, filaments, resins, prototyping services, and more. The company sells its products through e-commerce platforms and retail outlets.

Financial Strength

WOL 3D India has shown strong financial growth, with revenue increasing by 69% and profit after tax (PAT) rising by 109% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of WOL 3D India Ltd.

Rappid Valves (India) Limited IPO

Source: RHP

Rappid Valves (India) Limited is offering a book built issue of ₹30.41 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on September 26th and the listing tentatively set for September 30th. The minimum lot size is 600 shares, requiring a minimum investment of ₹133,200 for retail investors and ₹266,400 for HNIs.

Objectives of Rappid Valves IPO

Rappid Valves plans to use the IPO proceeds for:

  • Capital expenditure for purchasing new plant and machinery and software
  • Renovation of the registered office and existing manufacturing unit
  • Repayment or prepayment of outstanding borrowings
  • Inorganic growth initiatives (acquisitions)
  • General corporate purposes

Rappid Valves (India) Limited IPO GMP

The current grey market premium (GMP) for Rappid Valves is ₹0. This suggests that the company’s shares are not trading at a premium in the grey market, and they are expected to be listed flat at the IPO price.

Company Overview

Rappid Valves (India) Limited is a manufacturer of valve solutions, offering a variety of valves made from ferrous and non-ferrous materials. The company’s manufacturing unit is equipped with modern machinery to support a seamless manufacturing process.

Financial Strength

Rappid Valves has shown strong financial growth, with revenue increasing by 123% and profit after tax (PAT) rising by 807% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of Rappid Valves (India) Limited IPO

TechEra Engineering Limited IPO

Source: RHP

TechEra Engineering Limited is offering a book built issue of ₹35.90 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on September 30th and the listing tentatively set for October 3rd. The minimum lot size is 1600 shares, requiring a minimum investment of ₹131,200 for retail investors and ₹262,400 for HNIs.

Objectives of TechEra Engineering Ltd. IPO

TechEra Engineering plans to use the IPO proceeds for:

  • Capital expenditure for purchasing new machinery
  • Funding working capital requirements
  • Repayment or prepayment of outstanding borrowings
  • General corporate purposes
  • Issue expenses

TechEra Engineering Limited IPO GMP

The current grey market premium (GMP) for TechEra Engineering is ₹10. This suggests that the company’s shares are trading at a premium of ₹10 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹92, which is 12.20% higher than the IPO price.

Company Overview

TechEra Engineering Limited is a company that designs, manufactures, and supplies precise tooling and components for the aerospace and defense industries. They also provide automation system solutions. The company uses advanced manufacturing technologies to meet the needs of its target sectors.

Financial Strength

TechEra Engineering has shown strong financial growth, with revenue increasing by 47% and profit after tax (PAT) rising by 270% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of TechEra Engineering Limited IPO

Unilex Colours and Chemicals Limited IPO

Source: Unilex Colours and Chemicals Limited

Unilex Colours and Chemicals Limited is offering a book built issue of ₹31.32 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on September 30th and the listing tentatively set for October 3rd. The minimum lot size is 1600 shares, requiring a minimum investment of ₹139,200 for retail investors and ₹278,400 for HNIs.

Objectives of the IPO

Unilex Colours and Chemicals plans to use the IPO proceeds for:

  • Funding working capital requirements
  • Repayment of outstanding borrowings
  • General corporate purposes

Unilex Colours and Chemicals Limited IPO GMP

The current grey market premium (GMP) for Unilex Colours and Chemicals is ₹0. This suggests that the company’s shares are not trading at a premium in the grey market, and they are expected to be listed flat at the IPO price.

Company Overview

Unilex Colours and Chemicals Limited is a manufacturer of pigments and food colors. They market their products under the brand name “Unilex” and have a manufacturing unit in Palghar, Maharashtra. The company’s manufacturing facility is certified with ISO 9001:2015 for quality management.

Financial Strength

Unilex Colours and Chemicals has shown steady financial growth, with revenue increasing by 3% and profit after tax (PAT) rising by 24% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of Unilex Colours and Chemicals Limited IPO

Thinking Hats Entertainment Solutions Limited 

Source: RHP

Thinking Hats Entertainment Solutions Limited is offering a book built issue of ₹15.09 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on September 30th and the listing tentatively set for October 3rd. The minimum lot size is 3000 shares, requiring a minimum investment of ₹132,000 for retail investors and ₹264,000 for HNIs.

Objectives of Thinking Hats Entertainment Solutions IPO

Thinking Hats Entertainment Solutions plans to use the IPO proceeds for:

  • Repayment of outstanding borrowings
  • Funding working capital requirements
  • General corporate purposes

Thinking Hats Entertainment Solutions Limited IPO GMP

The current grey market premium (GMP) for Thinking Hats Entertainment Solutions is ₹20. This suggests that the company’s shares are trading at a premium of ₹20 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹64, which is 45.45% higher than the IPO price.

Company Overview

Thinking Hats Entertainment Solutions Limited is a company that specializes in concept development, event design, and production for live events, corporate functions, MICE, social and virtual events, as well as OTT content production and experiential marketing. They focus on content development, intellectual property curation, and tech-centric product development. The company has produced content for OTT platforms like Netflix, Amazon, Sony Liv, MX Player, Disney+Hotstar, Voot, Zee5, and others. Their clients include Tata Group, Goldman Sachs, McDonalds, Uber, and media brands like The Times of India, HT Media, Network 18 Media & Investments, Radio Mirchi, and Fever Entertainment.

Financial Strength

Thinking Hats Entertainment Solutions has shown steady financial growth, with revenue increasing by 20% and profit after tax (PAT) rising by 54% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of Thinking Hats Entertainment Solutions Limited IPO

Divyadhan Recycling Industries Limited

Source: RHP

Divyadhan Recycling Industries Limited is offering a book built issue of ₹24.17 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on October 1st and the listing tentatively set for October 4th. The minimum lot size is 2000 shares, requiring a minimum investment of ₹128,000 for retail investors and ₹256,000 for HNIs.

Objectives of Divyadhan Recycling Industries Limited IPO

Divyadhan Recycling Industries plans to use the IPO proceeds for:

  • Capital expenditure
  • General corporate purposes
  • Issue expenses

Divyadhan Recycling Industries Limited IPO GMP

The current grey market premium (GMP) for Divyadhan Recycling Industries is ₹0. This suggests that the company’s shares are not trading at a premium in the grey market, and they are expected to be listed flat at the IPO price.

Company Overview

Divyadhan Recycling Industries Limited is a company that manufactures Recycled Polyester Staple Fiber (R-PSF) and Recycled Pellets from post-consumer PET bottles. The company’s manufacturing unit is located in Himachal Pradesh, with a total capacity of 8030 metric tons per annum for fiber and 4320 metric tons per annum for pellets.

Financial Strength

Divyadhan Recycling Industries has shown steady financial growth, with revenue increasing by 2% and profit after tax (PAT) rising by 10% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of Divyadhan Recycling Industries Limited IPO

Sahasra Electronics Solutions Limited 

Source: RHP

Sahasra Electronics Solutions Limited is offering a book built issue of ₹186.16 crores. The IPO includes a fresh issue of ₹172.01 crores and an offer for sale of ₹14.15 crores. The shares will be listed on NSE SME, with the allotment expected on October 1st and the listing tentatively set for October 4th. The minimum lot size is 400 shares, requiring a minimum investment of ₹113,200 for retail investors and ₹226,400 for HNIs.

Objectives of Sahasra Electronics Solutions Limited IPO

Sahasra Electronics Solutions plans to use the IPO proceeds for:

  • Capital expenditure for installing additional plant and machinery at a new manufacturing facility in Bhiwadi, Rajasthan
  • Investment in its subsidiary, Sahasra Semiconductors Private Limited
  • Funding working capital requirements
  • General corporate purposes

Sahasra Electronics Solutions Limited IPO GMP

The current grey market premium (GMP) for Sahasra Electronics Solutions is ₹170. This suggests that the company’s shares are trading at a premium of ₹170 in the grey market, indicating positive investor sentiment. Based on the IPO price band and the GMP, the estimated listing price is ₹453, which is 60.07% higher than the IPO price.

Company Overview

Sahasra Electronics Solutions Limited is an electronic system design and manufacturing (ESDM) company that provides services such as PCB assembly, box build, and LED lighting. The company exports over 80% of its products to global manufacturers and has a manufacturing capacity of 1.8 million units through its EN 9100:2018 certified plant in Noida.

Financial Strength

Sahasra Electronics Solutions has shown exceptional financial growth, with revenue increasing by 866% and profit after tax (PAT) rising by 1315% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of Sahasra Electronics Solutions Limited 

Forge Auto International Limited 

Source: RHP


Forge Auto International Limited is offering a book built issue of ₹31.10 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on October 1st and the listing tentatively set for October 4th. The minimum lot size is 1200 shares, requiring a minimum investment of ₹129,600 for retail investors and ₹259,200 for HNIs.

Objectives of Forge Auto International Limited IPO

Forge Auto International plans to use the IPO proceeds for:

  • Funding working capital requirements
  • Repayment of outstanding borrowings
  • General corporate purposes

Forge Auto International Limited IPO GMP

The current grey market premium (GMP) for Forge Auto International is ₹0. This suggests that the company’s shares are not trading at a premium in the grey market, and they are expected to be listed flat at the IPO price.

Company Overview

Forge Auto International Limited is an engineering company that manufactures forged and precision-machined components for the auto industry and non-auto sectors. They offer products such as short and long forks, flange yokes, ball studs, gear blanks, and stub axle assemblies. The company serves both domestic and global OEMs and has shown a 27% CAGR in revenue from the sale of machined and forging products.

Financial Strength

Forge Auto International has shown steady financial growth, with revenue increasing by 2% and profit after tax (PAT) rising by 35% between FY23 and FY24. This indicates the company’s ability to generate revenue and manage its costs effectively.

SWOT Analysis of Forge Auto International Limited

Saj Hotels Limited

Source: Saj Hotels

Saj Hotels Limited is offering a fixed price issue of ₹27.63 crores. The IPO is scheduled to be listed on NSE SME, with the allotment expected on October 3rd and the listing tentatively set for October 7th. The minimum lot size is 2000 shares, requiring a minimum investment of ₹130,000 for retail investors and ₹260,000 for HNIs.

Objectives of Saj Hotels Limited IPO

Saj Hotels plans to use the IPO proceeds for:

  • Funding working capital requirements
  • Repayment of outstanding borrowings
  • General corporate purposes

Saj Hotels Limited IPO GMP

There has been no significant movement in the grey market premium (GMP) for Saj Hotels, suggesting a lack of substantial trading activity in the unlisted market.

Company Overview

Saj Hotels Limited is a hospitality company that offers a range of services, including resort accommodations, villa rentals, and restaurant and bar properties. The company owns or leases three resort properties, with two managed and operated by Saj and one leased to others. These resorts can host conferences, weddings, and social events. The company has also invested in My Own Rooms Dot In Private Limited, expanding its reach and diversifying its hospitality portfolio.

Financial Strength

Saj Hotels has shown steady financial growth, with revenue increasing by 13.52% between FY23 and FY24. However, profit after tax (PAT) dropped by 3.11% during the same period.

SWOT Analysis of Saj Hotels Limited IPO

New Listings this Week

This week is set to be a busy one for the stock market. A total of 14 companies are gearing up to make their debut. Three of these companies are highly anticipated mainboard IPOs, while the remaining 11 are from the SME segment. The IPOs span a variety of sectors, from real estate and retail to leasing and textiles.

Mainboard IPO Listings
Name of the CompanyDate of ListingListing At
Western Carriers Ltd24 SeptBSE, NSE
Arkade Developers Ltd.24 SeptBSE, NSE
Northern Arc Capital Ltd.24 SeptBSE, NSE
SME IPO Listings
Popular Foundations24 SeptBSE, SME
Deccan Transcon Leasing24 SeptNSE, SME
Envirotech Systems24 SeptNSE, SME
Pelatro24 SeptNSE, SME
Osel Devices24 SeptNSE, SME
Paramount Speciality Forgings25 SeptNSE, SME
Kalana Ispat26SeptNSE, SME
Avi Ansh Textile27 SeptNSE, SME
Phoenix Overseas27 SeptNSE, SME
SD Retail27 SeptNSE, SME
BikeWo GreenTech27 SeptNSE, SME

Conclusion

As the week unfolds, investors will be closely watching the performance of these IPOs. The market’s response to these new offerings will provide valuable insights into investor sentiment and the overall health of the primary market.

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I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.

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