India’s primary market is heading into a busy stretch, with nine companies opening initial public offerings this week and more than a dozen others preparing to raise over ₹25,000 crore in August, as stabilising markets and improving investor sentiment encourage issuers to revive listing plans. Bankers said the massive success of the SBI Funds Management IPO has added to the feel-good factor.
SBI Funds achieved an overall subscription of roughly 42 times and raised over ₹9,813 crore. It made a strong debut on Dalal Street, listing at a solid premium.
The immediate calendar will be dominated by three mainboard IPOs — Manipal Health Enterprises, Juniper Green Energy and MV Electrosystems — which together plan to raise more than ₹11,300 crore. Six small and medium enterprise issues are also scheduled to open during the week.
Manipal Health’s ₹9,275-crore offering will be the largest of the week. The IPO, which will open on July 29 and close on July 31, comprises a fresh issue of ₹8,000 crore and an offer for sale of about ₹1,275 crore. The company has fixed a price band of ₹560-590 per share.
Juniper Green Energy will open its ₹1,800-crore fresh issue on July 30, while MV Electrosystems will launch a ₹290-crore IPO on the same day. Both issues are scheduled to close on August 3. The SME calendar includes Advance Technoforge, Propshop Events and Exhibitions, Poojaa Precision Engineering, HR Hygiene Products, Dhaval Packaging and Fusion Klassroom Edutech.
The activity is expected to extend through August, when more than a dozen companies across quick commerce, housing finance, logistics, education infrastructure, dairy products and asset management are preparing to enter the market. The proposed issues are expected to collectively mobilise more than ₹25,000 crore through a combination of fresh capital and offers for sale.
Quick-commerce company Zepto is expected to lead the August pipeline. Its proposed IPO includes a fresh issue of up to ₹8,010 crore and an offer for sale of as many as 11.34 crore shares by existing investors. The company plans to deploy the fresh capital towards expanding its dark-store network, strengthening its technology infrastructure and supporting other growth initiatives.
Housing finance company Truhome Finance is planning a ₹3,000-crore issue, divided equally between a fresh issue and an offer for sale. Education infrastructure company Elevate Campuses proposes to raise ₹2,550 crore entirely through fresh equity.
Logistics technology platform Shiprocket has lined up a ₹2,342.35-crore offer, comprising fresh capital of up to ₹1,100 crore and an offer for sale worth about ₹1,242 crore. Innovatiview India plans an offer for sale of up to ₹2,000 crore, while Milky Mist Dairy Food is looking to raise ₹1,553 crore.
Dhoot Transmission, Asset Reconstruction Company India, Ardee Industries, Gaja Alternative Asset Management, Rays of Belief, Hy-Tech Engineers, Shankesh Jewellers and Learnfluence Education are among the other companies in the prospective IPO queue. The final launch schedules will depend on market conditions and regulatory and procedural clearances.
The expanding pipeline follows sustained activity in the primary market. Thirty-six companies have launched IPOs so far in 2026, including nine in July. Investment bankers expect issuance to remain strong but say investors are becoming increasingly selective, with reasonably priced offers more likely to perform well than issues seeking aggressive valuations. One banker estimated that Indian companies could raise about $20 billion through IPOs during the calendar year.
