The Indian primary market is poised for a flurry of activity in the week commencing Monday, 12 January 2026. Investors can look forward to a mix of one mainboard and five small and medium enterprise (SME) initial public offerings (IPOs) opening for public subscription. This surge in activity highlights the continued appetite for capital raising among Indian companies across segments.
Mainboard Attraction: Amagi Media Labs
The spotlight in the mainboard segment is firmly on Amagi Media Labs Ltd. The cloud-based technology company is launching a book-built public issue aiming to raise a substantial ₹1,789 crore. This comprises a fresh issue of ₹816 crore and an offer for sale (OFS) component worth ₹973 crore.
The subscription window for the Amagi Media Labs IPO will be open from Tuesday, 13 January 2026, to Friday, 16 January 2026. The company has set a price band of ₹343 to ₹361 per share, with investors required to apply in a lot size of 41 shares.
Proceeds from the fresh issue are earmarked for strategic growth. The company plans to channel funds into technology and cloud infrastructure investments and use the remainder for inorganic growth through acquisitions and general corporate purposes. The issue is managed by a consortium of leading investment banks including Kotak Mahindra Capital, Citigroup Global Markets, and Goldman Sachs (India).
Five SME IPOs Set to Debut
Alongside Amagi, the SME platform will see five companies launching their public issues, offering a diverse set of investment opportunities.
1. Avana Electrosystems IPO
Kicking off the week, Avana Electrosystems will open its ₹35.22 crore book-built issue on Monday, 12 January. The issue, priced between ₹56 and ₹59 per share (lot size: 2,000 shares), will close on Wednesday, 14 January. Funds will be used for capex, working capital, and general corporate needs.
2. Narmadesh Brass Industries IPO
Also opening on January 12 is the Narmadesh Brass Industries IPO, seeking to raise up to ₹44.87 crore. With a fixed price of ₹515 per share (lot size: 240 shares), it will close on Thursday, 15 January. The capital raised is intended for loan repayment, machinery purchase, and working capital.
3. INDO SMC IPO
INDO SMC will open its entirely fresh issue of ₹91.95 crore on Tuesday, 13 January. The price band is set at ₹141-149 per share (lot size: 1,000 shares). The subscription will close on Friday, 16 January. The objectives include funding capex and working capital requirements.
4. GRE Renew Enertech IPO
Focused on renewable energy, GRE Renew Enertech aims to raise ₹39.56 crore through a fresh issue. Opening on January 13 with a price band of ₹100-105 per share (lot size: 1,200 shares), it will also close on January 16. The primary goal is to set up a solar power plant.
5. Armour Security India IPO
Wrapping up the week's new offerings, Armour Security India will open for bidding on Wednesday, 14 January, seeking ₹26.51 crore. Priced between ₹55 and ₹57 per share (lot size: 2,000 shares), it will close on Monday, 19 January. The funds are allocated for working capital, capex, and loan prepayment.
A Vibrant Week for Market Participants
The upcoming week presents a significant opportunity for investors to participate in the growth stories of six distinct companies. From cloud technology and renewable energy to manufacturing and security services, the diversity reflects the breadth of India's entrepreneurial landscape. This activity underscores the vitality of the Indian capital markets as a crucial source of funding for business expansion and innovation. Investors are advised to carefully review the prospectuses of each company, assess their financials and objectives, and align investments with their individual risk profiles.
