Synopsis: Crystal Crop Protection’s ₹455 crore issue, opening 18 November, is the only mainboard IPO on next week’s calendar and the first in over two weeks. Mahanadi Coalfields has filed its prospectus but not its price band, while BSE’s live list is dominated by rights issues, open offers and buybacks.
Crystal Crop Protection: the one mainboard issue
Delhi-based agrochemicals and seeds company Crystal Crop Protection opens its IPO on Wednesday, 18 November, and closes it on Friday, 20 November. Anchor investors bid on 17 November. The price band is ₹259 to ₹272 per share with a lot of 55 shares, so a retail application at the top of the band costs ₹14,960. The issue is worth about ₹455 crore and the shares are to list on NSE and BSE.
The issue is much smaller than the ₹600 crore fresh issue plus offer for sale the company first filed in December 2025, and roughly ₹270 crore of the fresh money goes to repaying debt. We covered the details in our Crystal Crop Protection IPO report.
It is the first mainboard IPO to open since late October, when Bombay Coated and Special Steels and M.K. Sons Fine Jewels went to market. How it is subscribed will be an early read on demand after a two-week pause.
Mahanadi Coalfields: prospectus filed, dates awaited
Coal India filed the red herring prospectus for its subsidiary Mahanadi Coalfields (MCL) with SEBI, the stock exchanges and the Registrar of Companies on 13 and 14 November. The issue is an offer for sale of up to 66,18,36,300 shares by Coal India, about 10% of MCL, so the money goes to Coal India rather than MCL. The price band, lot size and bidding dates have not yet been announced.
A price band announcement is the next step to watch; issuers usually announce it a few days before an issue opens. MCL would be the third Coal India subsidiary to list after Bharat Coking Coal and CMPDI. See our report on the MCL prospectus.
SME watch: Watrana Rentals opens 19 November
Delhi-based Watrana Rentals, which rents out forklifts and other material handling equipment, opens its SME IPO on NSE Emerge on 19 November and closes it on 23 November. The price band is ₹232 to ₹245 a share and the issue is a fresh issue of 49,02,000 shares worth ₹120.10 crore at the top of the band. The lot size is 600 shares, and individual investors must apply for at least two lots, or ₹2,94,000. Listing is expected on 27 November.
About ₹98.13 crore of the proceeds is for buying equipment and batteries. Total income was ₹211.69 crore and profit after tax ₹29.16 crore in FY26. Full details are in our Watrana Rentals SME IPO report. (Updated 14 November with details from the red herring prospectus dated 11 November.)
Beyond IPOs: what is live on BSE
BSE’s list of live and forthcoming issues for the week has no other equity IPOs. It is made up of rights issues, offers to buy and buybacks, which matter to existing shareholders of these companies:
- Rights issues: Crescentis Capital (16 to 27 November, ₹78), Shraddha Prime Projects (closes 20 November, ₹160), Fresita Proteins (closes 26 November, ₹120), Veer Global Infraconstruction (closes 26 November, ₹30) and Fratelli Vineyards (closes 17 November, ₹90).
- Offers to buy: Ishaan Infrastructures and Shelters (closes 16 November, ₹14) and Kronox Lab Sciences (closes 20 November, ₹157.27).
- Open-market buybacks: Atul (up to ₹7,500 a share) and MedPlus (up to ₹750) are running.
Why it matters
After a busy October, the primary market has thinned out. A single mainboard issue next week puts Crystal Crop’s subscription numbers in focus, and the timing of MCL’s price band will decide whether the year’s larger government listing lands in November or slips. For the wider market backdrop, read our weekly Nifty wrap.
Image credit: background by AICreate; logos from the official websites of Crystal Crop Protection and Coal India.
Sources
- BSE: live and forthcoming public issues
- NSE filing: Coal India on Mahanadi Coalfields RHP, 14 November 2026
- Crystal Crop Protection: company website
- Watrana Rentals: company website
- Watrana Rentals: red herring prospectus dated 11 November 2026 (copy hosted by Chittorgarh)
- SEBI
Disclaimer: This article is for information purposes only and is not investment advice.
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