Upcoming IPOs This Week (Sept 28, 2026): SRIT India, Shah Investor's Home & More

Another Crowded Week in the Primary Market

At least 20 IPOs are open for subscription this week: four on the mainboard and 16 on the SME platform. Twenty companies that closed their books earlier will also debut on the exchanges. Here is a walk-through of each mainboard issue, followed by the SME list and the listing calendar.

Mainboard IPOs at a Glance

*Calculated as lot size × upper price band.

SRIT India: IT Services, All Fresh Issue

SRIT India opens today, September 28, and closes September 30. The price band is ₹123–130 per share, and investors can bid for a minimum of 115 shares and in multiples after that.

The offer is entirely a fresh issue of 1.68 crore shares, totalling ₹218.40 crore. The proceeds are earmarked for:

• Capital expenditure on modernising existing products and redevelopment
• Working capital
• Inorganic growth through unidentified acquisitions
• General corporate purposes

SRIT India is an IT/ITeS solutions firm offering digital solutions, custom application development and system integration services. The use of proceeds includes acquisitions that haven't been identified yet, so it's worth reading the risk factors on how that money might be deployed.

Shah Investor's Home: A Retail Broker Goes Public

Shah Investor's Home also opens today and closes September 30, with a price band of ₹159–167 and a lot size of 85 shares. The ₹90.17 crore issue is solely a fresh issue of 53.99 lakh shares, with no offer for sale.

Proceeds will fund working capital and general corporate purposes. The company is a retail broking firm offering equity and derivatives broking, mutual fund distribution and IPO investing services. In its red herring prospectus, it cited the benefits of listing as greater visibility and brand image, and the creation of a public market for its shares.

Brokerage is a working-capital-heavy business, so a raise aimed at working capital is consistent with the model.

Nityas Gems & Jewellery: Lab-Grown Diamonds

Nityas Gems & Jewellery makes lab-grown diamond-studded gold jewellery. Its IPO opens September 30 and runs to October 5, the longest window among this week's mainboard issues. The price band is ₹70–75, and a lot is 200 shares.

The ₹108.35 crore offer is a fresh issuance of 1.45 crore shares. The money will go toward working capital and general corporate purposes.

Lab-grown diamond jewellery is still a young category in India. Investors comparing this issue with traditional jewellery IPOs should look at how the company's product mix, pricing and margins differ from natural-diamond peers.

Vishal Nirmiti: Railway Sleepers and Precast Concrete

Vishal Nirmiti is a civil engineering, manufacturing and construction company. It is raising ₹178 crore through an issue open September 30 to October 5, at ₹208–220 per share with a lot of 68 shares.

The structure is a mix of:

• Fresh issue: ₹145 crore
• Offer for sale: ₹33 crore, by promoter Vaman Prestressing Company

The fresh proceeds are earmarked for working capital, debt clearance and general corporate purposes. The company manufactures pre-stressed concrete (PSC) sleepers for railways and precast and prestressed concrete products for various applications. It also fabricates and erects mild steel pipes, MS liners and penstock pipes for a pumped storage project.

16 SME IPOs Also Open This Week

The SME segment is especially busy, with these issues opening for subscription:

• Acme Universal Safezone 9
• Shivchem Agro
• Pind Hospitality
• Shree TNB Polymers
• Vans Electroengineerings
• Papadmalji Agro Foods
• Black Opal Consultants
• EverestIMS Technologies
• Omara Ventures
• Sollfege Smart Electronics
• Eventions
• SJP Ultrasonic
• Dove Soft
• TNA Solutions
• Acme India Industries
• Paramount Syntex

As with all SME issues, expect larger minimum application sizes and thinner post-listing liquidity than on the mainboard. It's also worth reading each company's offer document carefully.

20 Listings Scheduled This Week

Twenty companies that closed their IPOs earlier will debut on the exchanges between September 28 and October 1:

September 30 is the busiest listing day, with nine debuts. If you applied to more than one of these issues, keep an eye on your allotment status and demat credits across the week.

What This Means for Investors

• Funds get tied up across bids. ASBA blocks your bid amount until allotment, so applying to several IPOs at once can reduce your available balance.
• Structures differ. SRIT India, Shah Investor's Home and Nityas Gems are entirely fresh issues, while Vishal Nirmiti includes an ₹33 crore offer for sale. Whether money goes to the company or to selling shareholders is worth checking in each case.
• Several issues are aimed at working capital. Shah Investor's Home, Nityas Gems and Vishal Nirmiti all list working capital among their objects. That is a reasonable use of funds, but it is less specific than capacity expansion or debt reduction.

Compare each issue on its own numbers. Price band and issue size alone don't tell you much. Check each company's financials, valuation against listed peers, and objects of the issue before applying.