India’s September IPO market is set for a potentially busy month, with more than 25 companies expected to tap the equity markets. Collectively, these public issues could raise more than ₹70,000 crore, provided some of the much-awaited large IPOs, particularly those of Jio Platforms and the National Stock Exchange (NSE), hit the market during the month.
The anticipated IPO activity comes at a time when investor interest in the primary market has strengthened. A combination of improved listing performance, strong domestic liquidity and a pipeline of companies waiting to access the markets has created favourable conditions for issuers.
September IPO List (Tentative & Subject to Change)
Among the biggest names attracting investor attention is Jio Platforms, the technology and digital services arm of Reliance Industries. The company has received observations from the Securities and Exchange Board of India (SEBI) for its proposed IPO, bringing the issue closer to the launch stage. The proposed issue could raise around ₹37,700 crore, potentially making it the largest IPO in India.
Jio Platforms has proposed a fresh issue of 27 crore equity shares without an offer-for-sale component. According to its plans, around ₹27,500 crore from the net proceeds is proposed to be used for repayment of certain debt, while the remaining funds would be allocated towards general corporate purposes.
Another major issue that could shape September’s IPO market is the proposed listing of the National Stock Exchange. The exchange’s long-awaited IPO has been closely watched by investors, and its potential launch alongside Jio Platforms could significantly increase the total amount raised from the primary market. If either or both mega issues come to the market, September could become one of the biggest months for IPO fundraising in India.
The latest SEBI approvals have further strengthened the IPO pipeline. On August 28, the regulator issued observations on the draft IPO documents of seven companies, including Jio Platforms, Paras Healthcare, Bharat PET, Sadbhav Futuretech, M K Sons Fine Jewels, Paramotor Digital Technology and Pushp Brand (India).
Paras Healthcare, which operates hospitals under the Paras Health brand, is planning to raise up to ₹1,800 crore. The issue includes a fresh share sale of ₹500 crore and an offer for sale worth ₹1,300 crore by existing shareholders. The company intends to use ₹375 crore from the fresh issue proceeds to repay debt, with the balance earmarked for general corporate purposes.
Bharat PET, a packaging solutions company, is looking to raise as much as ₹760 crore through its IPO. The issue consists of a ₹120-crore fresh share sale and an offer for sale worth ₹640 crore by promoters. The company plans to use part of the fresh proceeds for debt repayment and the purchase of machinery and equipment.
Meanwhile, Sadbhav Futuretech, which operates in solar water pumping and related engineering services, has proposed a combination of a fresh issue of 2.55 crore shares and an offer for sale of up to ₹235 crore. A portion of the fresh proceeds is expected to be used to meet working capital requirements.
M K Sons Fine Jewels is also moving closer to the public markets with a proposed fresh issue of 1.36 crore shares and an offer for sale of 34 lakh shares. The company plans to use the proceeds for expansion, including a new showroom, repayment of borrowings and general corporate needs.
Pushp Brands (India), a packaged spices and food company, has proposed an IPO consisting entirely of an offer for sale. Since there is no fresh issue component, the company itself will not receive funds from the offering. Paramotor Digital Technology, which provides digital gifting, rewards, loyalty and consumer spending solutions, has also received SEBI observations, although details of its proposed issue remain undisclosed because it filed its IPO documents through the confidential route.
With a large number of companies preparing to enter the market and major names such as Jio Platforms and NSE potentially joining the pipeline, September could become a crucial month for India’s IPO market. The actual fundraising, however, will depend on the timing and launch of individual issues and prevailing market conditions.
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Kaashika is a social media strategist and financial content creator at Lakshmishree. She specialises in simplifying complex IPO and stock market concepts into clear, easy-to-understand content. Having created over 500+ pieces of financial content across reels, blogs, website posts and digital creatives, Kaashika helps audiences connect with the world of finance in a more accessible and engaging way.
