IPO Rush on Dalal Street: NSE IPO Leads Rs 24,500 Cr Week as 5 Mainboard & 6 SME IPOs Open

The stock market may be closed today for Ganesh Chaturthi, but India's primary market is about to get very busy.

The week ahead is shaping up to be one of the biggest IPO weeks in nearly a year, with five mainboard IPOs and six SME IPOs scheduled to open for subscription. Together, these issues are looking to raise around Rs 24,500 crore from investors.

But there is one name that towers over the rest - NSE.

The National Stock Exchange's own IPO is expected to raise around Rs 22,561.6 crore, making it responsible for more than 90% of the total fundraising planned this week.

For investors, therefore, this is less a crowded IPO week and more an NSE IPO week, with several smaller issues arriving alongside it.

NSE IPO: The Big Event

The much-awaited NSE IPO is scheduled to open for subscription on September 17 and close on September 21.

The exchange going public is significant in itself. NSE is not just another company entering the primary market. It is one of the most important pieces of India's financial-market infrastructure.

Its IPO is therefore likely to attract attention from institutional investors, high-net-worth investors and retail participants alike.

The size of the issue also puts the week in perspective. The last time India's IPO pipeline reached a comparable scale was in October 2025, when issues worth nearly Rs 29,000 crore opened during October 6-10.

That makes this the busiest primary-market week in roughly 11 months.

Other Mainboard IPOs Arrive

While NSE will dominate the headlines, four other mainboard IPOs will also compete for investor attention.

Hero Motors is looking to raise around Rs 1,000 crore, while SS Retail plans to raise approximately Rs 500 crore.

Jindal Supreme India has a comparatively smaller issue of around Rs 125 crore, while Sonaselection India is looking to raise about Rs 141.6 crore.

Hero Motors, SS Retail and Jindal Supreme India are scheduled to open from September 16 to September 18. Sonaselection India will follow the September 17-21 window.

For investors, this means the week's IPO calendar is unusually concentrated. With NSE demanding such a large share of the available capital, smaller companies may have to work harder to attract attention.

It's Not Just About New IPOs

There is another layer to the week's primary-market activity.

Veegaland Developers and Manika Plastech, which opened their IPOs last week, will close their subscription windows this week. Six SME IPOs that had already opened will also complete their subscription process.

So, investors are not simply looking at new issues. They are simultaneously deciding where to deploy money across ongoing IPOs, new mainboard issues and SME offerings.

SME IPOs: Smaller Issues, Bigger Risk

The SME segment is considerably quieter in terms of fundraising.

Six SME IPOs opening during the week are together looking to raise around Rs 233.9 crore.

Quanto Agroworld, Shakti Polytarp and Vama Wovenfab will open on September 15 and close on September 17, raising approximately Rs 29.5 crore, Rs 25.6 crore and Rs 47.1 crore respectively.

Kheria Autocomp and SpectraA Tech Solutions will run from September 17 to September 21, targeting Rs 44.1 crore and Rs 40.4 crore.

Axiom Gas Engineering will open on September 18 and close on September 22, with an issue size of around Rs 47.3 crore.

For retail investors, however, SME IPOs need a different approach. Smaller issue sizes can mean lower liquidity and greater price volatility after listing. Subscription numbers alone should therefore not be treated as a signal to invest.

Ten IPO Listings Add More Action

The IPO activity does not end with subscription.

As many as 10 mainboard companies are scheduled to list this week, adding another layer of excitement for investors watching the primary market.

Pranav Construction is scheduled to list on September 15.

On September 16, Glass Wall Systems India, Prasol Chemicals and Kanohar Electricals are expected to make their market debuts.

September 17 could be particularly busy, with Asset Reconstruction Co India, Manipal Payment & Identity Solutions, Steamhouse India, LCC Projects, Karamtara Engineering and Rentomojo scheduled to list.

The SME segment will also see new listings, including Apana Logistics, Infrax Renewable, Vinod Texworld and Amtech Esters.

What Investors Should Watch

The sheer size of the IPO calendar can make the week look like an opportunity bonanza. But investors should remember that a large IPO does not automatically mean a good IPO.

Valuation, profitability, debt, cash flows, promoter holding, use of IPO proceeds and the company's growth prospects remain more important than subscription hype.

This week, however, one thing is certain: NSE will be the centre of India's primary market.

With a Rs 22,561.6-crore issue dominating a Rs 24,500-crore IPO pipeline, the question for Dalal Street is not whether the primary market is busy.

It is how much investor money NSE can pull away from everything else.

Quick reference: who's opening when

Mainboard IPO	Dates	Issue Size	Exchange
Mainboard IPO	Sep 17-21	Rs 22,561.6 crore	NSE

Mainboard IPO	Dates	Issue Size
Hero Motors	Sep 16-18	1,000.0
SS Retail	Sep 16-18	500.0
Sonaselection India	Sep 17-21	141.6
Jindal Supreme India	Sep 16-18	124.9
Total	-	24,328.0

SME IPO	Dates	Issue Size
Vama Wovenfab	Sep 15-17	47.1
Axiom Gas Engineering	Sep 18-22	47.3
Kheria Autocomp	Sep 17-21	44.1
SpectraA Tech Solutions	Sep 17-21	40.4
Quanto Agroworld	Sep 15-17	29.5
Shakti Polytarp	Sep 15-17	25.6
Total	-	233.9

Source: BSE, NSE