IPO calendar: After a week of lull, 5 companies to raise nearly Rs 1,600 crore this week

India's primary market will see at least Rs 1,572 crore worth of IPOs open next week, led by three mainboard issues from HD Fire Protect, Fusion CX and Sahajanand Medical Technologies. The week will be more active on the subscription side than on listings. Three mainboard IPOs and two SME IPOs will open for bidding, while the only listing scheduled is RK Fashion Accessories, whose SME issue was subscribed 2.7 times.

HD Fire Protect IPO

HD Fire Protect will open its Rs 712 crore IPO on October 13 and close it on October 15. The issue is entirely an offer for sale of 2.63 crore shares, which means the company will not receive any money from the IPO. The price band has been fixed at Rs 258-271 per share, with a lot size of 55 shares. At the upper end, the company will command a market capitalisation of about Rs 4,749 crore. The stock is expected to list on October 21.


Incorporated in 1997, HD Fire Protect manufactures and supplies fire protection equipment and systems. Its products include sprinklers, alarm valves, deluge valves, foam systems, monitors, nozzles, custom-engineered systems and gas suppression systems. The company caters to oil and gas, refining, petrochemicals, power, heavy engineering, aerospace, pharmaceuticals, data centres, hospitality and healthcare.

HD Fire Protect has exported to more than 90 countries since inception and operates two manufacturing facilities in Maharashtra. Its revenue rose from Rs 372.95 crore in FY24 to Rs 489.28 crore in FY26, while profit after tax stood at Rs 116.79 crore in FY26, against Rs 109.72 crore a year earlier.

Fusion CX IPO

Fusion CX will open its Rs 702 crore IPO on October 14 and close it on October 16. The issue includes a fresh issue of Rs 500 crore and an offer for sale of Rs 202 crore. The price band has been fixed at Rs 275-289 per share, with a lot size of 51 shares. At the upper end, the company’s market cap will be around Rs 4,172 crore. The stock is expected to list on October 22.

Fusion CX is a customer experience and business process solutions provider. It offers customer support through voice, email, chat, social media and messaging. The company also provides AI data infrastructure services such as data collection, annotation, image and video labelling, and robotic teleoperations.

As of June 2026, Fusion CX operated 40 delivery centres across 13 countries and served 208 customers, including 22 Fortune 1000 companies. Its business spans telecom and utilities, healthcare, high-tech, travel, BFSI and retail.

Fusion CX’s revenue rose 37% to Rs 1,852 crore in FY26, while profit after tax more than doubled to Rs 170 crore from Rs 74 crore in FY25. The company plans to use Rs 275.70 crore from the fresh issue to repay borrowings and Rs 61 crore to upgrade IT tools at step-down subsidiaries. It also plans to use part of the money for acquisitions, strategic initiatives and general corporate purposes.

Sahajanand Medical Technologies IPO

Sahajanand Medical Technologies will open its IPO on October 15 and close it on October 19. The issue is entirely an offer for sale of 2.76 crore shares. The price band and final issue size are yet to be announced. The allotment is expected on October 21, and the stock is scheduled to list on October 23.

Founded in 2001, Sahajanand Medical Technologies makes medical devices focused on vascular and structural heart intervention. Its portfolio includes coronary stents, balloons, TAVI products, occluders, renal stents and peripheral drug-coated balloons. The company has two R&D centres, one in India and one in Thailand, and its products are accepted in more than 76 countries.

Its revenue rose 18% to Rs 1,219 crore in FY26, while profit after tax increased to Rs 69 crore from Rs 25 crore in FY25. The company had reported a loss of Rs 7.35 crore in FY24.

SME IPO segment

Among SME IPOs, Ravita Engineering Services and Vaibhav Vyapaar will open on October 13 and close on October 15. Ravita Engineering has fixed a price band of Rs 105-112 per share for its Rs 116 crore issue, while Vaibhav Vyapaar’s Rs 42 crore IPO has a price band of Rs 51-54.

With only one listing and five IPOs opening, investor attention will stay firmly on fresh issues. HD Fire Protect and Fusion CX will draw the closest watch because of their Rs 700-crore-plus issue sizes, while Sahajanand Medical Technologies could become the swing factor once its price band is announced.


Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.