6 IPOs to hit stock market this week:Companies to raise total of ₹3,825 crore

Six companies are preparing to launch their initial public offerings, or IPOs, in the Indian stock market this week. These companies will raise a total of ₹3,825 crore from the market. The six companies are Elevate Campus, Warmora Granito, A-One Steels India, Armi Infotech, Swastik Infra and Adroit Industries (India). The IPOs of these companies will open for subscription between 22 September and 28 September, with most of the issues opening on 23 September. According to the company promoters, the funds raised through the IPOs will be used for capital expenditure (capex), business expansion, debt repayment, working capital requirements and other corporate purposes. Details of the six IPOs coming this week 1. Elevate Campus: Elevate Campus, which has received investment from Hillhouse Investment, has the biggest issue this week. The ₹2,100-crore IPO will open on 23 September and close on 25 September. The company has fixed a price band of ₹343-362 per share for the issue. The entire issue is a fresh issue and has no offer-for-sale (OFS) component. The shares are expected to be listed on 30 September. 2. Varmora Granito: The company’s ₹708 crore IPO will remain open from 22 September to 24 September. The price band has been fixed at ₹140-148 per share. The issue comprises a fresh issue of up to ₹320 crore and an OFS of 2.62 crore shares worth ₹388 crore by investor Katsura Investments. 3. A-One Steels India: The company will seek to raise ₹405 crore through its IPO. The issue will open on 24 September and close on 28 September. The company has fixed a price band of ₹385-405 per share. The issue comprises a ₹355 crore fresh issue and an OFS of up to ₹50 crore by the promoters. 4. Armee Infotech: Armee Infotech will launch its ₹300 crore IPO between 23 September and 25 September. Its price band has been set at ₹350-375 per share, and the entire issue comprises a fresh issue of new equity shares. 5. Swastik Infra: Swastik Infra, an EPC solutions provider involved in power distribution and infrastructure projects, will raise ₹161 crore through its IPO. The issue will remain open from 23 September to 25 September, with a price band of ₹175-185 per share. 6. Adroit Industries India: The company’s ₹151 crore IPO will be open for subscription from 23 September to 25 September. The company has set a price band of ₹126-134 per share. 17 IPOs have arrived so far in September What are OFS and fresh issues?