India's primary market will stay busy next week, with 20 IPOs opening for subscription and looking to raise a combined Rs 1,292 crore. The week will be led by four mainboard IPOs, SRIT India, Vishal Nirmiti, Nityas Gems & Jewellery and Shah Investor’s Home, which together plan to raise Rs 595 crore. The rest of the action will come from the SME segment, where 16 companies are expected to raise about Rs 697 crore.
SRIT India IPO
SRIT India will be the biggest mainboard IPO opening next week. The company plans to raise Rs 218 crore through a fresh issue of 1.68 crore shares. The IPO will open on September 28 and close on September 30. The price band has been fixed at Rs 123-130 per share. Investors can bid for a minimum of 115 shares, making the minimum retail application Rs 14,950 at the upper price band.
The company is a Bengaluru-based IT and IT-enabled services company providing digital solutions, custom application development and system integration services. It operates across healthcare, e-governance, and telecommunications and broadband. The company has executed more than 103 projects over the last decade, with an aggregate order value of about Rs 1,235 crore.
SRIT India reported a 15% rise in revenue and a 29% rise in profit after tax between FY25 and FY26. For FY26, the company reported total income of Rs 462.54 crore and profit after tax of Rs 43.29 crore.
Vishal Nirmiti IPO
Vishal Nirmiti will open its Rs 178 crore IPO on September 30. The issue will close on October 5. The IPO is a mix of fresh issue and offer for sale. The company will raise Rs 145 crore through a fresh issue, while the OFS component will be Rs 33 crore.
The price band has been fixed at Rs 208-220 per share, with a lot size of 68 shares. At the upper price band, the minimum retail application works out to Rs 14,960. The shares are proposed to be listed on BSE and NSE, with a tentative listing date of October 8.
Vishal Nirmiti is a civil engineering, manufacturing and construction company. It makes pre-stressed concrete sleepers for railways, pre-cast and pre-stressed concrete products, and MS pipes, liners and penstock pipes for pumped storage projects. It also provides EPC services for railway infrastructure, irrigation and civil engineering projects.
The company's revenue rose 6% in FY26, while profit after tax also increased 6%. It reported total income of Rs 344 crore and PAT of Rs 25 crore in FY26.
Nityas Gems and Jewellery IPO
Nityas Gems and Jewellery will also open on September 30 and close on October 5. The company plans to raise Rs 108 crore through a fresh issue. The price band has been fixed at Rs 70-75 per share, and the lot size is 200 shares. The minimum retail application is Rs 15,000 at the upper price band.
The company's shares are proposed to be listed on BSE and NSE. The tentative listing date is October 8.
Shah Investor's Home IPO
Shah Investor's Home will open its Rs 90.17 crore IPO on September 28 and close on September 30. The issue is entirely a fresh issue of 53.99 lakh shares. The price band has been fixed at Rs 159-167 per share. Investors can bid for a minimum of 85 shares, making the minimum retail application Rs 14,195 at the upper price band.
The company is a retail broking firm with over three decades of experience in the securities market. It offers equity and derivatives brokerage, IPO services, mutual fund distribution, margin funding and stock lending and borrowing services. As of March 31, 2026, it had served over 1 lakh demat accounts and had more than 38,000 active clients.
However, its FY26 numbers show pressure. Revenue fell 23%, while profit after tax dropped 44% between FY25 and FY26. The company reported total income of Rs 72.40 crore and PAT of Rs 13.11 crore in FY26.
SME IPOs
The SME segment will remain crowded. Sixteen SME IPOs are scheduled to open next week, led by Acme India Industries, Paramount Syntex, Dove Soft, EverestIMS Technologies, Black Opal Consultants, Vans Electroengineerings, Shree TNB Polymers, Pind Hospitality, Shivchem Agro, Acme Universal Safezone 9, TNA Solutions, SJP Ultrasonics, Eventions, Sollfege Smart Electronics, Omara Ventures India and Papadmalji Agro Foods. Together, these SME issues plan to raise about Rs 697.20 crore.
The calendar shows that while the mainboard has fewer issues by count, the SME market will continue to supply most of the listings. For investors, the week will test appetite across both ends of the IPO market.
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.
