Nine Indian IPOs this week are looking to raise about Rs 7,100 crore

The Economic Times reports that nine Indian IPOs are scheduled to open this week, looking to raise about Rs 7,100 crore between them. Seven are mainboard issues. Two are smaller SME listings, Dhanwel Hybrid Seeds and Mopshop Distribution, which together are expected to raise a little over Rs 50 crore.

Horizon Industrial Parks is the largest of the week, seeking Rs 2,600 crore. Lalithaa Jewellery Mart is next, at Rs 1,700 crore. The other mainboard names on ET's list are Augmont Enterprises, Tempsens Instruments India, Gaja Alternative Asset Management, Shankesh Jewellers, and Sunshine Pictures.

A PTI report in Business Standard, published on Sunday, also named the same seven mainboard issuers and said Horizon and Lalithaa open on 17 August. It put Horizon's issue as an entirely fresh offer with a price band of Rs 57 to 60 a share, and Lalithaa's Rs 1,700 crore issue as a fresh issue of up to Rs 1,200 crore plus an offer for sale of up to Rs 500 crore. Last week was busier in cash terms: five mainboard IPOs and eight SME issues raised a combined Rs 7,900 crore. So far in August, 15 mainboard IPOs have come to market and raised about Rs 17,460 crore. The SME side has seen 14 issues raising more than Rs 807 crore.

This is the primary market doing what it has been doing all month: getting in line while the window is open. The two largest issues alone account for Rs 4,300 crore of the week's mainboard supply. Jewellery, industrial parks, instruments, an asset manager, and a film company in the same week is not a theme, it is a queue. When seven mainboard issues open together, they are competing for the same money, and a week that looks like a boom from the issuer's side can look like indigestion from the buyer's.

Horizon and Lalithaa are scheduled to open on Monday, 17 August, according to Business Standard, with the other mainboard names following through the week. The first public tell is subscription figures, not the listing pop.