Wave of IPOs to hit Dalal Street as 13 companies file draft papers with SEBI in a single day

These firms are expected to collectively raise at least Rs 8,000 crore, according to their draft papers filed on Monday (Sept. 30).

The upcoming IPOs span various sectors and deal sizes, comprising a mix of fresh issues and offers for sale (OFS).

The filings come as the primary market sees heightened interest from both issuers and investors across industries.

So far, 62 companies have already raised about Rs 64,000 crore in 2024 through mainboard IPOs, a 29 percent increase compared to the Rs 49,436 crore mobilized by 57 firms in all of 2023.

In addition to Vikram Solar, Aditya Infotech, and Varindera Constructions, other companies that filed draft papers on Monday include Ajax Engineering, Rahee Infratech, Vikran Engineering, Midwest, Viney Corporation, Sambhv Steel Tubes, Jaro Institute of Technology Management and Research, All Time Plastics, Scoda Tubes, and Dev Accelerator.

These companies are entering the primary market to fund expansion plans, reduce debt, support working capital needs, and offer exit routes for existing shareholders.

Vikram Solar, a solar module manufacturer, plans to raise Rs 1,500 crore through a combination of fresh equity issuance and an OFS of up to 1.74 crore shares by its promoters.

Aditya Infotech aims to raise Rs 1,300 crore, with Rs 500 crore through fresh equity and Rs 800 crore via OFS.

Varindera Constructions' Rs 1,200 crore IPO includes a fresh issue of Rs 900 crore in shares and a Rs 300 crore OFS.

Infrastructure firm Vikran Engineering's IPO is set to raise Rs 1,000 crore, with Rs 900 crore from fresh issues and Rs 100 crore through an OFS by its promoter.

Additionally, more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, are preparing to launch IPOs in the next two months, aiming to collectively raise Rs 60,000 crore, according to merchant bankers.