Four IPOs Draw 20x-91x Demand, Allotment Updates
Four IPOs Draw 20x-91x Demand, Allotment Updates
Anonymous
Key Points
1
Amtech Esters’ IPO had a price band of ₹71–₹75 per share, with the final issue price set at ₹75. Its 1,600-share lot size meant individual investors had to apply for at least 3,200 shares, requiring ₹2.40 lakh at the final price.
2
Glass Wall Systems (India)’s ₹427.89 crore IPO consisted of a ₹60 crore fresh issue and a ₹367.89 crore offer for sale. Its final issue price was ₹182 per share, and the minimum retail application of 82 shares required ₹14,924.
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Kanohar Electricals’ ₹1,055.74 crore offering included a ₹300 crore fresh issue and a ₹755.74 crore offer for sale. The IPO was priced at ₹632 per share, with a 23-share lot requiring a minimum retail investment of ₹14,536.
4
Asset Reconstruction Co. (India)’s IPO comprised an offer for sale of 5,27,31,946 shares, with no fresh-issue component. The company buys stressed loans from banks and financial institutions and seeks recovery through restructuring, settlements, legal action, asset enforcement and collections.
5
Demand varied sharply across investor categories: Kanohar Electricals’ QIB portion excluding anchor investors was subscribed 215.37 times, Glass Wall Systems’ reached 167.93 times, and Asset Reconstruction Co. (India)’s stood at 52.65 times; Amtech Esters’ corresponding QIB subscription was 15.07 times.
Four Indian IPOs drew exceptional investor demand in mid-September 2026, with subscription rates ranging from 20.10 times to 90.59 times their available shares. NDTV Profit and CNBC TV18 reported that allotment results became available around September 15, with most companies scheduled to list on September 16–17 across the BSE and NSE platforms.
The offerings included Amtech Esters' ₹17.88 crore IPO (subscribed 25.70 times), Glass Wall Systems' ₹427.89 crore raise (81.65 times), Kanohar Electricals' ₹1,055.74 crore issue (90.59 times), and Asset Reconstruction Co. (India)'s ₹732.97 crore offering (20.10 times). Demand among institutional investors proved particularly strong, with some categories seeing over 200 times oversubscription.
Institutional Investors Bid Aggressively Across All Four IPOs
Qualified institutional buyers (QIBs), excluding anchor investors, drove exceptional demand across the four offerings. NDTV Profit reported that Kanohar Electricals attracted 215.37 times oversubscription in its QIB segment, while Glass Wall Systems received 167.93 times demand. Asset Reconstruction Co. (India)'s QIB portion was subscribed 52.65 times, and Amtech Esters drew 15.07 times institutional interest, demonstrating strong confidence in the diverse sectors represented.
Amtech Esters Finalizes Allotment for SME Platform Listing
Amtech Esters' ₹17.88 crore IPO finalized allotment on September 15 after receiving 25.70 times overall subscription. The issue priced at ₹75 per share, with a 1,600-share lot requiring minimum retail investments of ₹2.40 lakh. NDTV Profit confirmed the company's shares were scheduled to list on the BSE SME platform on September 17, targeting smaller investors seeking growth opportunities.
Glass Wall and Kanohar Lead with Record-Breaking Demand
Glass Wall Systems and Kanohar Electricals posted the strongest oversubscription rates among the four IPOs. Glass Wall Systems' ₹427.89 crore offering—comprising ₹60 crore in fresh shares and ₹367.89 crore in existing shareholder sales—was subscribed 81.65 times at ₹182 per share. Allotment finalized September 11, with listing planned for September 16. CNBC TV18 reported that Kanohar Electricals, priced at ₹632 per share, drew even fiercer demand with 90.59 times subscription.
Kanohar Electricals' ₹1,055.74 crore offering split ₹300 crore fresh equity and ₹755.74 crore secondary sales. With a 23-share lot size, minimum retail investment was ₹14,536. The company finalized allotment September 11 and began trading September 16 on both major bourses.
Asset Reconstruction Opens Niche Market to Public Investors
Asset Reconstruction Co. (India) broke new ground as a non-banking finance company offering shares publicly. The ₹732.97 crore offering—entirely secondary shares from existing holders—was subscribed 20.10 times. NDTV Profit noted the company buys stressed loans from banks and financial institutions, then recovers money through restructuring deals, settlements, legal action, asset enforcement and collections. The IPO allocated 5,27,31,946 shares and scheduled listing for September 17.
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