Zetwerk, Bonfiglioli, Tonbo, SMT Set IPO Price Bands for October Listing

Four major companies are gearing up to launch their initial public offerings (IPOs) starting Thursday, October 15, with combined valuations reaching nearly ₹8,827 crore. The subscription period will continue until Monday, October 19, with the shares expected to begin trading on the stock exchanges from Friday, October 23.

Zetwerk, a prominent player in the manufacturing supply chain space, is leading the pack with a sizeable ₹5,000 crore IPO. This involves a fresh issue of ₹2,800 crore and an offer for sale (OFS) worth ₹2,200 crore. The price band for Zetwerk’s shares is set between ₹143 and ₹151 per share. The company has stated its intentions to utilize the funds raised from the fresh issue primarily to reduce existing debt, a move aimed at strengthening its balance sheet and positioning for future growth.

Bonfiglioli Transmissions, a manufacturer specializing in power transmission and drive systems, is also entering the market with a ₹2,500 crore OFS. Its share price has been fixed in the range of ₹558 to ₹586. This offering will allow existing shareholders to partially exit while providing investors an opportunity to access the firm’s established industrial business.

Tonbo Imaging, known for its advanced night vision and imaging technologies, is launching an ₹852 crore OFS IPO, with price quotes from ₹665 up to ₹700 per share. The company’s niche focus on defence and security-related sectors has attracted investor interest ahead of its stock market debut.

Rounding out the quartet is Sahajanand Medical Technologies (SMT), which has set its OFS IPO at ₹475.48 crore. The price band for SMT’s shares is between ₹327 and ₹344. SMT is recognized for its medical devices and equipment, and this listing could provide fresh capital to its existing investors while opening access to a wider investor base.

In other market updates, ICICI Prudential Asset Management Company (AMC) released its financial results for the second quarter ending September 2026. The company reported a 6.1 percent increase in profit after tax (PAT), reaching ₹889 crore compared to the same period last year. Revenue from operations grew by 16.3 percent year-on-year to ₹1,674 crore. However, expenses rose by 18 percent and the tax burden increased by 21 percent, which contributed to a 7.8 percent decline in profit compared to the first quarter.

Meanwhile, Alpha Wave Ventures LP made headlines by offloading a 1.52 percent stake in Lenskart Solutions through a block deal valued at ₹1,704.8 crore. This transaction involved selling 26.4 million shares at an average price of ₹645.3 per share. The identities of the buyers were not disclosed. Following this sale, Lenskart’s shares closed 4.3 percent lower on the NSE, reflecting market reactions to the stake sale.

The influx of these IPOs comes at a time when the Indian capital markets continue to show resilience and investor appetite for new listings remains steady. Companies across sectors including manufacturing, technology, and healthcare are tapping public markets to raise funds for expansion, debt reduction, and improved liquidity.

This wave of public offerings also highlights a broader trend where established private firms are seeking public capital to fuel their growth ambitions amid a competitive economic environment. Investors will be closely watching these listings to assess valuation levels and the potential for long-term returns in their respective industries.