New Delhi: India's primary market is heading for another busy month, with 12 companies, including Jio Platforms, Zetwerk Manufacturing Business and Avaada Electro, preparing to launch initial public offerings (IPOs) in October.
The fresh pipeline follows a strong fundraising year, with 96 IPOs raising over Rs 1.1 lakh crore so far in 2026, including 35 issues in September.
Jio IPO Takes Centre Stage
Jio Platforms, the digital services arm of Reliance Industries, is expected to launch India's largest IPO, with subscription scheduled between October 21 and 23, according to sources.
Zetwerk plans to raise around Rs 5,000 crore through its IPO, comprising a fresh issue of Rs 2,600 crore and an offer for sale (OFS) of up to 9.68 crore shares.
Its subscription window is scheduled for October 15-19.
Major Issues Lined Up
HD Fire Protect's Rs 712-crore IPO will open on October 13 at a price band of Rs 258-271 per share. The offering is entirely an OFS.
Fusion CX will launch its Rs 702-crore issue on October 14, with shares priced between Rs 275 and Rs 289.
Tonbo Imaging, Bonfiglioli Transmissions and Sahajanand Medical Technologies are also scheduled to open their offerings on October 15.
Meanwhile, Avaada Electro plans to raise Rs 7,600 crore, while Paras Healthcare is targeting Rs 1,800 crore and NDR InvIT Trust Rs 750 crore.
Gujarat Victory Forgings and SFC Environmental Technologies are also among the companies preparing public issues.
Investor Focus Shifts To Valuations
Neha Agarwal, Managing Director and Head of Equity Capital Markets at JM Financial, said domestic liquidity continues to support primary market fundraising despite volatility in secondary markets.
However, investors are becoming increasingly selective about valuations, profitability and corporate governance.
She said companies offering strong earnings visibility and reasonable pricing are likely to attract greater institutional interest.
Strong Pipeline Ahead
Renewable energy, defence, technology and precision manufacturing are expected to remain important drivers of IPO activity.
Market experts believe India's primary market can absorb several large offerings simultaneously, provided companies maintain pricing discipline.
However, global uncertainty and volatile equity markets could influence launch schedules and investor subscriptions.
