IPO wave: six companies eye nearly Rs 5,600 cr next week

The primary market is set for another busy week, with six companies, including Blackstone-backed Horizon Industrial Parks and Lalithaa Jewellery Mart, set to raise nearly Rs 5,600 crore collectively through initial public offerings (IPOs).

The upcoming issues follow the launch of five IPOs in the past week, while three companies had already tapped the market earlier this month.

Horizon Industrial Parks will kick off the week on August 17 with its Rs 2,600-crore IPO, followed by jewellery retailer Lalithaa Jewellery Mart's Rs 1,700-crore issue on the same day.

Shankesh Jewellers and film and television producer Sunshine Pictures will open their IPOs on August 18, worth Rs 367 crore and Rs 282 crore, respectively.

Gaja Alternative Asset Management, which operates under the Gaja Capital brand, will launch its Rs 550-crore IPO on August 19, while Tempsens Instruments (India) will open its issue on August 20.

Together, the six companies are looking to raise around Rs 5,600 crore through the public issues, making it another busy week for the primary market.

The funds raised through the fresh issue across the six companies will largely be used for business expansion, capital expenditure, debt repayment and other corporate purposes.

With the addition of these issues, the number of companies launching IPOs in 2026 is expected to rise to 54.

Horizon Industrial Parks' Rs 2,600-crore issue comprises entirely a fresh issue and has a price band of Rs 57-60 per share. The company plans to use the proceeds to repay borrowings.

Lalithaa Jewellery Mart has fixed a price band of Rs 190-201 per share. Its Rs 1,700-crore issue comprises a fresh issue of up to Rs 1,200 crore and an OFS of up to Rs 500 crore.

Shankesh Jewellers' Rs 367-crore issue comes with a price band of Rs 88-93 per share. The IPO comprises a fresh issue of up to 2.95 crore equity shares and an OFS of up to 1 crore equity shares.

Sunshine Pictures has fixed a price band of Rs 342-360 for its Rs 282-crore offering. The IPO comprises a fresh issue of 48 lakh equity shares and an OFS of 30.37 lakh equity shares, taking the total offer size to 78.37 lakh shares.

Promoters Vipul Amrutlal Shah and Shefali Vipul Shah will sell shares through the OFS.

Gaja Alternative Asset Management has set a price band of Rs 152-160 per share for its Rs 550-crore IPO. The issue comprises a fresh issue of up to Rs 450 crore and an OFS of up to Rs 100 crore.

Tempsens Instruments (India) will offer a fresh issue of Rs 95 crore along with an OFS of 1.85 crore shares.

Separately, air freight forwarding and logistics company Skyways Air Services is scheduled to launch its Rs 583-crore IPO on August 24, keeping the primary market pipeline active beyond the coming week.