September to be busiest IPO month in 14 years, RBI Bulletin reveals; check list

September 2024 is set to be the busiest month for initial public offerings (IPOs) in both the mainboard and small and medium enterprises (SME) segments in the last 14 years, with 30 companies making their market debut so far this month.

The Reserve Bank of India's latest Bulletin, released on September 20, noted that financial markets are undergoing shifts.

"In the primary equity market, there is a surge of interest in small and medium enterprises (SMEs) initial public offerings (IPOs), including from domestic mutual funds, with massive oversubscriptions," said the article on the state of economy published in RBI's latest Bulletin.

The article, citing a study by the market regulator Securities and Exchange Board of India (SEBI), said 54% of shares allotted to investors in an IPO were sold within a week of listing.

"September is set to be the busiest month for IPOs – mainboard and SME – in 14 years," the article said.

IPO listings in September 2024

• Indian Phosphate IPO
• Vdeal System IPO
• Premier Energies IPO
• Jay Bee Laminations IPO
• Paramatrix Technologies IPO
• Aeron Composite IPO
• ECOS (India) Mobility & Hospitality IPO
• Travels & Rentals IPO
• Boss Packaging Solutions IPO
• Baazar Style Retail IPO
• Gala Precision Engineering IPO
• Jeyyam Global Foods IPO
• Naturewings Holidays IPO
• Namo eWaste Management IPO
• Mach Conferences and Events IPO
• Shree Tirupati Balajee Agro Trading Company IPO
• My Mudra Fincorp IPO
• Vision Infra Equipment Solutions IPO
• Gajanand International IPO
• Share Samadhan IPO
• Shubhshree Biofuels Energy IPO
• Kross IPO
• Aditya Ultra Steel IPO
• Tolins Tyres IPO
• Bajaj Housing Finance IPO
• SPP Polymer IPO
• PN Gadgil Jewellers IPO
• Innomet Advanced Materials IPO
• Excellent Wires and Packaging IPO
• Sodhani Academy of Fintech Enablers IPO
• Popular Foundations IPO (September 24)
• Deccan Transcon Leasing IPO (September 24)
• Envirotech Systems IPO (September 24)
• Western Carriers (India) IPO (September 24)
• Pelatro IPO (September 24)
• Northern Arc Capital IPO (September 24)
• Osel Devices IPO (September 24)
• Arkade Developers IPO (September 24)
• Paramount Speciality Forgings IPO (September 25)
• Kalana Ispat IPO (September 26)
• Avi Ansh Textile IPO (September 27)
• Phoenix Overseas IPO (September 27)
• SD Retail IPO (September 27)
• BikeWo GreenTech IPO (September 27)
• Manba Finance IPO (September 30)
• Rappid Valves (India) IPO (September 30)
• WOL 3D India IPO (September 30)

The article said that mobilising resources via IPO has remained strong in 2024, with India accounting for the highest number of IPOs globally (27% by volume) in the first half of 2024. Regarding money raised, India represented 9% of total proceeds through initial share sale.

"Investor enthusiasm in the primary segment can be gauged by the fact that the IPO of a housing finance company in the second week of September garnered bids of over Rs 3 lakh crore," it said.