India’s primary market is entering an exceptionally busy phase, with nine initial public offerings scheduled to open in the final week of February. A total of four mainboard IPOs and five SME issues are looking to collectively raise approximately 4,300 crore. The headline act for the week is Clean Max Enviro Energy Solutions. The renewable energy major has set a price band of 1,000 to 1,053 per share for its 3,100 crore issue. The subscription window for this offering opens on February 23 and closes on February 25. Clean Max intends to use 1,122 crore of the fresh proceeds to repay debt, a move aimed at strengthening a balance sheet that currently carries over 10,121 crore in borrowings. The company recently turned profitable in the 2025 fiscal year, reporting a profit of 19.43 crore on revenues of 1,610 crore. Joining the mainboard fray on February 23 is Shree Ram Twistex, a textile player aiming to raise 110.24 crore. Its price band is fixed at 95 to 104 per share. Following closely, PNGS Reva Diamond Jewellery will open its 380 crore IPO on February 24 with a price band of 367 to 386 per share. The final mainboard entry, Omnitech Engineering, opens on February 25. The precision engineering firm is targeting 583 crore with a price band of 216 to 227 per share. These diverse offerings come as secondary markets show signs of recovery. On the latest trading day, the BSE Sensex rose 316 points to settle at 82,814, while the NSE Nifty 50 advanced 116 points to close at 25,571. Market sentiment has stabilized following recent volatility, supported by buying in banking and metal sectors. The SME segment remains equally vibrant with five issues opening during the week. Notable names include Kiaasa Retail, looking to raise 69.72 crore, and Mobilise App Lab, targeting 20.10 crore. These smaller issues often attract aggressive retail interest despite the higher risk profile. Investors are closely watching grey market premiums, which currently remain subdued for the larger issues. Clean Max is trading at a marginal premium of approximately 5 to 9 per share in the unofficial market, reflecting a cautious but selective approach from participants. Gold prices in the domestic market have reached 1,56,940 per 10 grams, while the rupee has softened to 90.98 against the US dollar. These broader economic indicators are providing a complex backdrop for the upcoming listings, as the primary market tests deep liquidity reserves in the renewable, retail, and engineering sectors.