Sun Sep 22 14:12:11 UTC 2024: ## India’s IPO Market Booms with 10 Upcoming Offerings in a Single Week

**MUMBAI, INDIA – SEPTEMBER 24, 2024** – India’s IPO market is set for a record-breaking week with 10 initial public offerings (IPOs) scheduled to launch, including two mainboard issues and eight from the SME segment. This surge in activity reflects robust investor interest and a thriving market.

The mainboard offerings feature **Manba Finance** and **KRN Heat Exchanger**, aiming to raise approximately ₹482 crore. Manba Finance, based in Mumbai, will open its subscription from September 23 to 25 with a price band of ₹114-120 per share. The ₹151 crore IPO will focus on raising capital for future growth. KRN Heat Exchanger, a manufacturer of heat exchangers for HVAC and refrigeration, will be available for subscription from September 25 to 27, with a price band of ₹209-220 per share. The ₹231 crore IPO aims to expand manufacturing capacity and fund general corporate purposes.

Other notable IPOs include **Sahasra Electronics**, targeting ₹186 crore, which will open its offering on September 26. **Divyadhan Recycling** and **Forge Auto International** will also open their offerings on the same day. **TechEra, Unilex, and Thinking Hats** will all debut their IPOs on September 25.

According to the Reserve Bank of India (RBI), September 2024 is poised to be the busiest month for IPOs in 14 years. Over 28 companies have entered the market so far, with 54% of IPO shares selling within a week of listing. The surge in activity is attributed to heightened interest in SME offerings, which have seen significant oversubscriptions, even attracting domestic mutual funds.

However, concerns remain regarding promoters potentially capitalizing on inflated valuations, especially within the SME segment. The RBI notes that while India led globally with 27% of IPOs in the first half of 2023-24, caution is warranted as the market evolves.

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