Upcoming IPOs: Mahanadi Coalfields, Crystal Crop Protection and Watrana Rentals issues to open this week

At least three initial public offerings will open for subscription this week. They include two mainboard IPOs of Mahanadi Coalfields and Crystal Crop Protection. The SME issue of Watrana Rentals will also go live.

No IPO listing is scheduled for this week.

Mahanadi Coalfields IPO

Mahanadi Coalfields Limited (MCL), a wholly owned subsidiary of Coal India, will open for subscription on November 19 and conclude on November 23.

The initial share sale consists of an offer for sale (OFS) of up to 66.18 crore shares by promoter Coal India, reflecting 10% of its stake in the subsidiary.

"Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity and a public market for the equity shares in India," the firm said in its RHP.

Half of the net offer is kept aside for qualified institutional buyers (QIBs), 35% for retail individual investors (RIIs) and 15% for non-institutional investors (NIIs).

Incorporated in 1992, Mahanadi Coalfields produced 218.31 million tonnes of coal in FY26, which is 22.4% of the country's total non-coking coal production, according to the CRISIL report.

Crystal Crop Protection IPO

Crystal Crop Protection Ltd, a crop solutions firm, is seeking to raise ₹455.49 crore via its IPO, which will hit the primary market on November 18. The issue will end on November 20. The price band has been fixed at ₹259-272 per equity share.

The IPO is a combination of a fresh issue of shares valued at ₹354.77 crore and an OFS of shares worth ₹100.71 crore by promoter Ankur Aggarwal.

Investors can apply for a minimum of 55 shares and in multiples thereafter.

Money raised will be used for the repayment of debt availed by the company and its subsidiary, Saffire Crop Science, funding inorganic growth via unidentified acquisitions, and meeting general corporate purposes.

Founded in 1994, Crystal Crop Protection is a crop solutions company with agrochemicals and seeds at the core of its offerings.

Watrana Rentals IPO

Watrana Rentals, which specialises in material and cargo handling equipment rentals, will launch its ₹120.10 crore issue on November 19. The IPO will end on November 23.

It is solely a fresh issuance of 49.02 lakh shares. The price range has been fixed at ₹232 to ₹245 per share.

A lot consists of 600 shares. The minimum investment for an individual investor is 1,200 shares.