The Indian primary market is set for a dynamic week beginning January 20, 2026, featuring four IPOs—one mainboard and three SME—alongside high-profile listings, dividend payouts, stock splits, and bonus issues spanning logistics, defense, healthcare, banking, and energy sectors. This surge reflects robust investor appetite amid stable market conditions, with recent blockbusters like Bharat Coking Coal's 146.87x oversubscription signaling strong momentum.

Mainboard IPO: Shadowfax Technologies Leads

Flipkart-backed logistics powerhouse Shadowfax Technologies headlines with its ₹1,907.27 crore mainboard IPO, opening January 20 and closing January 22. Priced at ₹118-124 per share, the offering mandates a minimum retail lot of 120 shares (₹14,880 investment). SEBI cleared the red herring prospectus on January 13, with BSE and NSE listing slated for January 28. Funds will fuel expansion in last-mile delivery amid e-commerce boom.

SME IPO Trio Diversifies Options

Three SME issues open alongside, targeting niche growth areas.

* Digilogic Systems (Hyderabad defense/aerospace tech): ₹81 crore raise at ₹98-104/share, January 20-22; proceeds for facility upgrades and debt reduction.

* KRM Ayurveda (Ayurvedic hospitals/clinics): ₹77.49 crore at ₹128-135/share, opens January 21; supports six hospitals and five clinics.

* Shayona Engineering: ₹14.86 crore at ₹140-144/share, opens January 22; engineering solutions focus.

Blockbuster Listings on Deck

Fresh debuts add excitement. Bharat Coking Coal (Coal India subsidiary) lists January 19 post ₹1,071 crore IPO's massive oversubscription, delayed by Mumbai polls. Amagi Media Labs follows January 21 after ₹1,789 crore mop-up, spotlighting media tech.

Dividend Declarations Heat Up

Ex-dividend dates kick off payouts.

* January 20: Bank of Maharashtra (₹1/share interim); NLC India (₹3.60/share).

* January 21: Angel One (₹23/share interim + 1:10 split); ICICI Prudential AMC (₹14.85/share after 45% Q3 profit jump).

* January 23 record date: Central Bank of India (₹0.20/share third interim). Havells India board meets January 19 for dividend call.

Splits and Bonuses Boost Liquidity

Corporate actions enhance accessibility. United Van Der Horst enacts 5:1 split on January 22 (face value ₹5 to ₹1). Jonjua Overseas issues 5:40 bonus on January 23. These moves aim to draw retail inflows and elevate trading volumes in a shareholder-friendly market.