Seven IPOs Aim to Raise More Than ₹1,400 Crore This Week as Primary Market Stays Active
MUMBAI, August 31, 2026: India’s primary market is heading into another active week, with seven initial public offerings (IPOs) scheduled to open for subscription and collectively targeting approximately ₹1,415 crore.
The new offerings comprise three mainboard IPOs and four SME issues, giving investors a fresh set of companies to evaluate as August ends and September begins.
The three mainboard companies—Purple Style Labs, Deepa Jewellers and Rays of Belief—account for the overwhelming majority of the planned fundraising. The four SME offerings are Ashutosh Fibre, Shanti Inorganics, Phychem Technologies and Farm Peace.
The fresh pipeline follows an even busier previous week, when six mainboard and seven SME IPOs collectively sought more than ₹4,447 crore, highlighting the continuing flow of companies seeking capital from public markets.
Purple Style Labs Leads This Week’s IPO Pipeline
The largest issue opening this week is Purple Style Labs, the Mumbai-based luxury fashion company associated with Pernia’s Pop-Up Shop.
Its IPO opens for subscription on August 31 and is scheduled to close on September 2.
The approximately ₹680-crore book-built offering is entirely a fresh issue of shares. The company has set a price band of ₹546 to ₹575 per share.
At the upper end of the price band, Purple Style Labs plans to deploy ₹371.1 crore of the net fresh issue proceeds toward lease liabilities for Experience Centres and back-end offices in India.
Another ₹138.9 crore is earmarked for sales and marketing expenditure, with the balance intended for general corporate purposes.
Its size makes Purple Style Labs the dominant contributor to this week’s fundraising total and puts the luxury fashion business among the major IPOs investors will be watching as September begins.
Deepa Jewellers Plans ₹459.72-Crore IPO
Deepa Jewellers is another significant mainboard offering scheduled for the week.
The company’s IPO is expected to raise approximately ₹459.72 crore, with subscription opening on September 1.
Its price band has been fixed at ₹168 to ₹177 per share.
Together with Purple Style Labs, Deepa Jewellers accounts for a substantial portion of the capital being sought through this week’s seven new public offerings.
The jewellery segment has remained visible in the primary market, meaning investors will likely assess the company not only on the broader IPO environment but also on its business fundamentals, valuations and the risks associated with its industry.
Rays of Belief to Raise Around ₹125 Crore
The third mainboard issue comes from Rays of Belief, the parent company associated with the MOM’s Belief brand.
The company plans to raise approximately ₹125 crore, with its IPO also scheduled to open on September 1.
Its price band has been set at ₹227 to ₹239 per share.
Combined, Purple Style Labs, Deepa Jewellers and Rays of Belief are targeting roughly ₹1,265 crore, leaving the four SME offerings to account for the remainder of this week’s new-issue fundraising.
Four SME IPOs Add to Busy Primary Market
The SME segment is also contributing significantly to the number of new issues arriving this week.
Four companies are scheduled to tap the market:
Ashutosh Fibre, Shanti Inorganics, Phychem Technologies and Farm Peace.
Ashutosh Fibre, Shanti Inorganics and Phychem Technologies opened for subscription on August 31, with their bidding windows scheduled to close on September 2.
Farm Peace is also part of the week’s new SME IPO pipeline.
The presence of four SME offerings alongside three mainboard IPOs shows how primary-market activity is extending beyond larger companies.
However, investors should distinguish between the two segments. SME shares can carry different liquidity, trading-lot and business-size considerations compared with mainboard-listed companies, making company-specific assessment particularly important.
New IPO Fundraising Slows From Last Week’s Pace
Although seven IPOs represent a busy calendar, the amount being sought this week is substantially below the previous week.
Last week saw six mainboard and seven SME IPOs collectively raising or seeking more than ₹4,447 crore, compared with approximately ₹1,415 crore across the seven new issues this week.
That does not necessarily indicate weakening IPO activity.
Rather, fundraising totals can vary sharply depending on the size of individual offerings. A week containing one or two large IPOs can significantly exceed another week even if the number of companies entering the market remains high.
The continuing arrival of new issues therefore provides a broader indication of companies’ willingness to access equity markets.
August Saw 46 IPOs Worth ₹23,679 Crore
The latest IPO pipeline follows an exceptionally active August for India’s primary market.
According to data reported by Moneycontrol, 46 IPOs worth ₹23,679 crore were launched across the mainboard and SME segments during August.
Fundraising through public issues reached approximately ₹79,829 crore during the first eight months of 2026.
That activity has continued even as the secondary equity market has experienced a period of consolidation.
The contrast is noteworthy because a volatile or directionless secondary market can sometimes make companies more cautious about launching public offerings. The sustained IPO pipeline suggests issuers continue to see opportunities to raise capital, while investor demand has remained sufficient to keep the calendar active.
Investors Also Face a Packed Listing Calendar
New IPO subscriptions are only one part of this week’s primary-market activity.
Several companies that completed their offerings earlier are also scheduled to make their stock-market debuts.
Among the mainboard companies completing IPO processes or heading toward listings are Augmont Enterprises, Hy-Tech Engineers, Skyways Air Services, Symbiotec Pharmalab and Annu Projects.
The SME segment also has completed issues moving toward the listing stage, including Sumax Engineering, ABH Healthcare and Madhur Knit Crafts.
Other reports tracking the full calendar indicate as many as 14 companies could list during the week, illustrating how crowded the primary-market schedule has become.
Existing IPOs Continue Alongside New Launches
Investors are also tracking IPOs that opened during the previous week and remain active.
Three mainboard offerings—Priority Jewels, ESDS Software Solutions and Lumino Industries—are scheduled to close during the current week.
In the SME segment, Paluck Technologies, Complete Sports & Management India and Kwick Forensic Solutions are also completing their subscription periods.
This creates an unusually dense calendar in which investors are simultaneously evaluating new issues, monitoring ongoing subscriptions, awaiting allotments and tracking new listings.
What Investors Should Watch
A busy IPO calendar can create excitement around the primary market, but the number of offerings alone does not determine investment quality.
Investors typically need to evaluate factors including a company’s revenue and profitability record, debt levels, cash flows, competitive position, valuation, promoter background and intended use of IPO proceeds.
The structure of an offering is also relevant.
A fresh issue raises new capital for the company, while an offer for sale (OFS) allows existing shareholders to sell some of their holdings. Understanding where IPO proceeds are going can therefore help investors assess the financial impact of an offering on the underlying business.
Grey-market premiums may attract attention before listings, but they are unofficial indicators and do not guarantee either listing gains or longer-term investment performance.
Strong IPO Pipeline Extends Into September
The latest offerings arrive against the backdrop of significant equity fundraising by Indian companies.
Corporate India raised more than ₹1.11 lakh crore through equity fundraising channels during July and August 2026, including mainboard IPOs, qualified institutional placements and offers for sale.
The volume reflects continued access to capital despite fluctuations in the broader equity market.
Meanwhile, the IPO pipeline beyond this week also remains substantial, suggesting September could continue to produce significant primary-market activity.
For investors, that means the challenge may increasingly shift from finding IPO opportunities to deciding which offerings justify participation.
Conclusion
India’s IPO market begins the week of August 31 with another crowded calendar as seven companies seek roughly ₹1,415 crore through new public offerings.
Purple Style Labs, with an approximately ₹680-crore issue, is the biggest fundraising candidate, followed by Deepa Jewellers at about ₹459.72 crore and Rays of Belief at ₹125 crore. Four additional SME IPOs broaden the pipeline.
While this week’s fundraising target is lower than the more than ₹4,447 crore sought in the previous week, the continuing flow of IPOs, ongoing issues and new listings shows that activity in India’s primary market remains elevated.
For investors, however, a busy market makes selectivity increasingly important. Each IPO ultimately needs to be judged on its financial fundamentals, valuation, business prospects and risks—not simply on the momentum surrounding new listings.
