The Indian IPO market demonstrates remarkable resilience with around 250 companies currently awaiting regulatory approval or preparing to launch IPOs, collectively targeting nearly ₹5 lakh crore in fundraising. According to PRIME Database Group's Managing Director Pranav Haldea, speaking to NDTV Profit, the market has maintained strong momentum despite volatile secondary conditions. Haldea noted that some stability in the secondary market over the past couple of months has helped revive IPO activity, as the IPO market typically avoids significant activity during periods of high volatility. With geopolitical concerns easing to an extent and regulatory approval validity periods limited, the pressure to bring new issues to market has increased substantially.
Lumino Industries, an integrated EPC player in India's power transmission sector, opens its IPO today with a price band of ₹78-82 per share for shares with face value of ₹5 each. The issue runs from August 27 to August 31, 2026, with investors required to bid for a minimum of 182 equity shares in multiples thereof. The company successfully raised ₹206.99 crore from anchor investors by allocating 25,243,901 equity shares at ₹82 per share to marquee institutions including Citigroup Global Markets Mauritius Private Limited, SBI General Insurance Company Limited, and Bajaj Life Insurance Limited. The offer comprises ₹500 crore fresh issue and ₹200 crore offer for sale by promoters Devendra Goel and Jay Goel.
The primary market will remain active this week with 12 mainboard and SME initial public offerings opening for subscription between August 24-30. According to Moneycontrol, these include Tempsens Instruments (India) Ltd., Augmont Enterprises Ltd., Skyways Air Services Ltd., Symbiotec Pharmalab Ltd., Hy-Tech Engineers Ltd., Annu Projects Ltd., Madhur Knit Crafts, ABH Healthcare, Sumax Engineering, Kwick Forensic Solutions, Complete Sports & Management India, and Paluck Technologies. Additionally, nine new companies are scheduled for listing on the bourses during the same period, with six mainboard listings and three SME listings.
Hy-Tech Engineers Ltd, a hydraulic fitting manufacturer, has set its price band at ₹50 to ₹53 per share for its IPO running from August 24 to August 27. According to Moneycontrol, the ₹135.73 crore issue comprises ₹60 crore fresh issuance and ₹75.73 crore offer for sale. The company has reduced its fresh issue size to ₹60 crore from ₹70 crore proposed earlier, while increasing the OFS component to nearly 1.43 crore shares from 1.19 crore shares. The company operates on a business-to-business model across domestic and international markets, serving OEMs and industrial customers through six manufacturing units across the country.
The SME segment will see Madhur Knit Crafts and ABH Healthcare opening on Monday, August 24, with Madhur Knit Crafts raising ₹53.3 crore and ABH Healthcare raising ₹35 crore. Both are book-building issues setting price bands at ₹95-100 per share and ₹96-102 per share, respectively. Meanwhile, Kwick Forensic Solutions will open its ₹51 crore maiden public issue on August 27 with a price band of ₹85-90 per share. In the final phase, Complete Sports & Management India and Paluck Technologies will launch on August 28, fetching ₹75 crore and ₹33 crore respectively, with price bands of ₹128-135 per share and ₹46-48 per share. Looking ahead, Lumino Industries will open its ₹700 crore IPO on August 27 at the upper end of price band of ₹78-82 per share, while Priority Jewels will follow on August 28 with a ₹91.5 crore issue at price band of ₹190-200 per share.
Despite volatile secondary market conditions and continued foreign investor selling, the primary market shows selective participation patterns. As reported by NDTV Profit, foreign institutional investors have remained selective in IPOs while being significant sellers in secondary markets over recent years. The supply pressure is significant due to regulatory observations and approvals being valid only for limited periods, with the regulator having extended approval validity by six months for expirations between April and September, but this extension is set to end in September. This creates urgency for companies to launch their IPOs within the validity period, contributing to the substantial pipeline of upcoming offerings.
