Five IPOs to open next week; companies eye close to ₹2,600 crore

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Five companies, including EAAA India Alternatives, SFC Environmental Technologies, and M. K. Sons Fine Jewels, are set to launch their initial public offerings (IPOs) next week, seeking to raise close to ₹2,600 crore from the primary market.

BLS Polymers and Bombay Coated and Special Steels would also float their maiden public offerings during the week.

Separately, several other companies, including Gujarat Victory Forging, Milestone Gears, Avaada Electro, Swara Baby Products, Integris Medtech and AGS Health, are in the pipeline for IPO, according to merchant bankers.

These companies are expected to announce price band declarations and launch plans by November 5, ahead of the extended Diwali holiday period in Gujarat, where markets and business activity are likely to be affected by the post-Diwali observance of Labh Pancham from November 6 to 15, they added.

The upcoming issues follow a busy month for the primary market, which saw Jio Platforms launch the country's biggest-ever public issue worth ₹30,213 crore.

As many as 104 companies have raised over ₹1.4 lakh crore through IPOs in 2026 so far, suggesting continued activity in the primary market.

The five upcoming IPOs will open for subscription between October 26 and October 29, offering investors exposure to sectors such as alternative investments, polymers, steel processing, wastewater treatment and jewellery retail.

These offerings are expected to keep the primary market active as companies tap investor demand to raise funds for business expansion, working capital requirements, and debt repayment, while some existing shareholders seek to monetise their holdings.

EAAA India Alternatives, an arm of Edelweiss Financial Services, will open its ₹1,200-crore IPO on October 26 and close it on October 28. The company has fixed a price band of ₹1,585-1,665 per share, valuing it at ₹10,765 crore at the upper end.

The issue is entirely an offer for sale (OFS) by the Edelweiss Group, meaning the company will not receive any proceeds from the offering. EAAA India Alternatives has already raised around ₹360 crore from anchor investors ahead of the public issue.

SFC Environmental Technologies, a wastewater treatment solutions provider, will launch its ₹668-crore IPO, with the subscription closing on October 29. The company has fixed a price band of ₹313-330 per share, valuing it at around ₹3,233 crore at the upper end.

The issue comprises a fresh issue of equity shares worth ₹150 crore and an offer for sale of up to 1.57 crore shares by promoters and existing shareholders. Proceeds from the fresh issue will be used for debt repayment and working capital requirements.

M. K. Sons Fine Jewels Ltd. will open its ₹275.4-crore IPO on October 28 and close it on October 30. The company has fixed a price band of ₹153-162 per share.

The IPO comprises a fresh issue of 1.36 crore equity shares and an offer for sale of 34 lakh shares by promoter selling shareholder Ramchand Murlidhar Raimalani.

The jewellery retailer plans to use the net proceeds to fund inventory requirements for setting up a new showroom in Maharashtra and expanding an existing showroom in Gujarat, besides repaying or prepaying certain borrowings and meeting general corporate expenses.

BLS Polymers Ltd. will launch its ₹255-crore IPO on October 27, with the issue closing on October 29. The company has fixed a price band of ₹142-150 per share. The issue comprises a fresh offering of 1.7 crore equity shares.

The company plans to utilise ₹77.56 crore from the proceeds to expand its manufacturing facility and increase production capacity, while ₹89.5 crore will be used to meet working capital requirements. The remaining amount will be utilised for general corporate purposes.

Bombay Coated and Special Steels Ltd. will open its ₹183.1-crore IPO on October 29, with the issue closing on November 2. The company has fixed a price band of ₹78-82 per share.

The IPO will be an entirely fresh issue of equity shares. The company plans to utilise ₹125 crore towards repayment or prepayment of certain borrowings and ₹15.7 crore to finance the acquisition cost of capital equipment under existing lease arrangements with Siemens Financial Services. The remaining proceeds will be used for general corporate purposes.

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