IPOs Launching in September 2026: The Complete List and What to Actually Check Before Applying

Arjun’s broker app has been buzzing all week. Every other day, a new notification: “Purple Style Labs IPO opens tomorrow,” “Priority Jewels allotment out now,” “Apply for Deepa Jewellers before it closes.” He has ₹50,000 sitting idle in his trading account, and every notification makes him feel like he is missing out on something. Last week he almost applied for an IPO purely because a friend sent him a screenshot showing its Grey Market Premium was “trading hot.” He stopped himself only because he genuinely could not have explained, if asked, what the company actually did for a living. That pause, uncomfortable as it felt in the moment, was probably the smartest financial decision he made all week.

September is shaping up to be one of the busiest IPO months India has seen in a while, with a genuine mix of jewellery retailers, a software company, a fashion e-commerce platform, and several smaller SME issues all opening within days of each other. This is exactly the kind of month where it helps to have a checklist in your head before the notifications start arriving, rather than deciding under pressure the moment an app buzzes.

Quick Answer

As of late August 2026, the confirmed mainboard IPOs opening in the first week of September include Deepa Jewellers, Rays of Belief, Purple Style Labs, ESDS Software Solution, and Priority Jewels, alongside several SME issues including Ashutosh Fibre, Phychem Technologies, and Shanti Inorganics. This follows what several market trackers have called an “IPO monsoon,” with more than a dozen mainboard IPOs having raised roughly ₹25,000 crore through August alone, a pace expected to continue into September. Before applying to any of these, or any IPO generally, the things actually worth checking are the company’s profit trend over the last three years, its valuation relative to listed peers in the same sector, how much of the issue is a fresh capital raise versus existing owners simply cashing out, and whether the pricing already assumes years of future growth that may not materialise. Grey Market Premium, which many retail investors watch closely, reflects short-term sentiment and speculation rather than the company’s actual worth, and should never be the main reason to apply.

About This Guide

This guide is based on publicly available IPO calendar data from IPO Watch, Upstox, and NSE/BSE listings as of August 29, 2026, along with SEBI’s public IPO documentation guidelines. FinanceChecks.com is not a SEBI-registered investment advisor, and nothing in this article is a recommendation to apply for any specific IPO named here. IPO dates, price bands, and issue sizes can change or get postponed, so always verify current details directly through the company’s official Red Herring Prospectus or your broker’s app before applying.

The IPOs Opening in September 2026

Mainboard IPOs

Deepa Jewellers opens September 1 to 3, raising approximately ₹459.72 crore at a price band of ₹168 to ₹177 per share. Rays of Belief also opens September 1 to 3, a smaller issue of around ₹125 crore priced between ₹227 and ₹239. Purple Style Labs, the fashion e-commerce platform that operates Perniaspop, spans the August 31 to September 2 window, raising roughly ₹680 crore at ₹546 to ₹575 per share, one of the larger and more closely watched issues this cycle given its consumer-facing brand recognition. ESDS Software Solution, a cloud infrastructure company, runs from August 28 to September 1, raising around ₹720 crore at ₹408 to ₹429 per share. Priority Jewels closes out the same window, August 28 to September 1, with a smaller ₹91.50 crore raise at ₹190 to ₹200 per share.

SME IPOs

A cluster of smaller SME board issues also opens in the same period, including Ashutosh Fibre, Phychem Technologies, and Shanti Inorganics, all running August 31 to September 2, alongside Complete Sports & Management and Paluck Technologies opening slightly earlier on August 28. SME IPOs are generally smaller in size, listed on the BSE SME or NSE SME platforms rather than the main board, and tend to carry higher volatility and lower liquidity than mainboard listings, which is worth factoring in if you are considering any of these.

Worth watching but not yet dated

Jio Platforms received SEBI’s approval for its own IPO on August 28, though its specific listing date has not been announced and it is unlikely to open within September given the scale of preparation such a large issue typically requires. It’s included here only because search interest in it is likely to spike alongside the smaller September issues, and it’s worth not confusing the two, since Jio Platforms’ eventual IPO will dwarf everything else on this list combined.

What Actually Matters Before You Apply

Check whether the money is going to the company or to existing owners. Every IPO is structured as some mix of a “fresh issue,” where the company raises new capital for its own use, and an “offer for sale,” where existing promoters or investors sell their existing shares to the public and pocket the proceeds themselves. An IPO that is heavily weighted toward offer for sale isn’t automatically bad, but it does mean less of your money is actually funding the company’s growth, and it’s worth reading the prospectus summary to understand this split rather than assuming all IPO proceeds go toward expansion.

Look at the profit and revenue trend over the last three years, not just the most recent year. A single strong year right before an IPO can be the result of one-off factors, and the more reliable signal is a consistent multi-year trend, since companies naturally have every incentive to look their best in the year they choose to go public.

Compare the valuation to listed peers in the same sector, if any exist. If a jewellery retailer is being valued at a much higher price-to-earnings multiple than an already-listed competitor with similar scale and growth, that gap is worth understanding before you apply, since it tells you how much of the company’s future growth is already priced into the IPO valuation itself.

Understand what Grey Market Premium actually tells you, and what it doesn’t. GMP is an unofficial, informal indicator of what IPO shares are trading for in an unregulated grey market before listing, reflecting short-term investor sentiment and demand rather than the company’s underlying financial health. A high GMP can genuinely indicate strong listing-day demand, but it is not regulated, not always accurate, and has nothing to do with whether the company will be a good long-term holding. Applying to an IPO purely because its GMP looks hot is closer to speculation than investing.

Check the subscription numbers as the window progresses, but understand what they mean by category. Retail, Non-Institutional Investor, and Qualified Institutional Buyer categories are tracked separately, and heavy QIB subscription, from mutual funds, insurance companies, and other large institutional investors, is generally considered a stronger signal of genuine institutional confidence than retail enthusiasm alone, since institutional investors typically do more rigorous due diligence before committing capital.

Read the “objects of the issue” section for what the company plans to actually do with the money. This section of the prospectus is often skipped, but it tells you whether the capital is going toward debt repayment, expansion, working capital, or general corporate purposes, each of which implies a very different growth story.

Be honest about your own holding period intention before you apply. Applying purely for listing-day gains is a fundamentally different decision than applying because you believe in the company’s multi-year prospects, and conflating the two is one of the most common mistakes retail investors make, since a stock can be a poor listing-day trade and a genuinely good long-term holding, or vice versa.

A Note Specific to This Particular Wave of IPOs

What stands out about September’s lineup is how sector-concentrated it is, with jewellery retail appearing twice in the mainboard list alone, Deepa Jewellers and Priority Jewels, alongside Purple Style Labs in fashion e-commerce. When several similar-sector companies launch IPOs in close succession, it is often because promoters and bankers are trying to capture strong current investor appetite for that sector while it lasts, which is not inherently a red flag, but it is worth asking yourself whether you would want exposure to more than one company in the same narrow sector, or whether that concentration adds unnecessary overlap to your portfolio if you already hold similar businesses.

My Take

The thing I’d genuinely want any retail investor to internalise about this particular September is that the sheer volume of IPOs opening in quick succession is designed, whether intentionally or simply as a byproduct of market timing, to create a sense of urgency that works against careful decision-making. Five mainboard IPOs and half a dozen SME issues opening within roughly a week of each other means most people evaluating them will spend far less time on each one than they would if only one IPO were open that month. My honest suggestion is to pick at most one or two from this list that genuinely interest you based on the sector or business model, read their actual financials properly, and let the rest go rather than trying to keep up with every notification your broker app sends you. Missing an IPO you didn’t properly evaluate costs you nothing. Applying to one you didn’t understand can cost you real money.

Frequently Asked Questions

1. Which mainboard IPOs are opening in September 2026? As of late August 2026, confirmed mainboard IPOs opening around the start of September include Deepa Jewellers, Rays of Belief, Purple Style Labs, ESDS Software Solution, and Priority Jewels.

2. Is the Jio Platforms IPO opening in September 2026? No confirmed date has been announced for the Jio Platforms IPO despite receiving SEBI’s approval on August 28, 2026. Given the scale of the offering, it is unlikely to open within September specifically.

3. What is Grey Market Premium and should I use it to decide whether to apply? Grey Market Premium is an unofficial, unregulated indicator of investor sentiment reflecting what IPO shares are informally trading for before listing. It can signal short-term demand but says nothing about a company’s actual financial health or long-term prospects, so it shouldn’t be the primary reason to apply for an IPO.

4. What’s the difference between a fresh issue and an offer for sale in an IPO? A fresh issue raises new capital that goes directly to the company for its own use, while an offer for sale involves existing shareholders selling their existing shares to the public, with proceeds going to those sellers rather than the company itself.

5. Are SME IPOs riskier than mainboard IPOs? Generally, yes. SME IPOs are smaller, listed on separate SME platforms rather than the main board, and typically carry lower trading liquidity and higher volatility than mainboard listings, which is worth factoring into your risk assessment.

6. How can I tell if an IPO is fairly valued? Compare its price-to-earnings or other relevant valuation multiple against already-listed peers of similar size and growth in the same sector. A significantly higher valuation than comparable listed peers suggests the IPO price already assumes substantial future growth.

7. Does high QIB subscription mean an IPO is a good investment? Strong Qualified Institutional Buyer subscription is generally considered a more meaningful signal than retail subscription alone, since institutional investors typically conduct more rigorous due diligence, though it still isn’t a guarantee of post-listing performance.

8. Why are so many jewellery and fashion IPOs launching in the same period? When several companies in a similar sector launch IPOs close together, it often reflects promoters and bankers trying to capture strong current investor appetite for that sector, which isn’t inherently negative but is worth considering if it creates overlapping exposure in your existing portfolio.

9. Should I apply for an IPO just for listing-day gains? That’s a fundamentally different decision than investing for the company’s long-term prospects, and it’s worth being honest with yourself about which goal you’re actually pursuing, since a stock can perform very differently on listing day compared to over several years.

10. Where can I check the latest, confirmed IPO dates and price bands? Always verify current details directly on NSE or BSE’s official IPO pages, or through your broker’s app, since price bands, dates, and issue sizes can shift closer to the opening date.

Disclaimer

This article is intended for general informational and educational purposes only and does not constitute investment advice. FinanceChecks.com is not a SEBI-registered investment advisor. IPO dates, price bands, and issue sizes mentioned here are based on publicly available information as of August 29, 2026, and are subject to change. IPO investing carries market risk, including the risk of listing below issue price. Please read the official prospectus and consult a qualified financial advisor before making any investment decision.