Six Companies, Including Raffi Ahmad's RANS Entertainment, Set for July IPO on Indonesia Stock Exchange
A total of six companies are preparing to conduct initial public offerings (IPOs) on the Indonesia Stock Exchange (IDX) towards the end of the first half of 2026. According to IDX disclosures, the prospective issuers set to enter the capital market in July are PT Niramas Utama Tbk. (JELI), PT Prodia Diagnostic Line Tbk (PRDL), PT Esa Medika Mandiri Tbk (EMMI), PT Nitrasanata Dharma Tbk. (JECX), PT Bach Multi Global Tbk (BACH), and Raffi Ahmad’s company, PT RANS Entertainment Indonesia Tbk (RANS).
PT Niramas Utama Tbk. (JELI) will release 350 million shares, representing 25.93% of its issued and paid-up capital, with a nominal value of Rp100 per share. The offering price to the public ranges from Rp900 to Rp1,120 per share, with the stock listing scheduled for 7 July 2026.
PT RANS Entertainment Indonesia Tbk (RANS), owned by celebrity Raffi Ahmad, is offering up to 2.52 billion new shares, equivalent to 20.02% of its issued and paid-up capital post-IPO. The company has set an offering price range of Rp135 to Rp170 per share, with an estimated listing date on the IDX of 10 July 2026.
PT Bach Multi Global Tbk (BACH) is offering 615 million new shares, representing 15.06% of its post-IPO capital, at a price range of Rp400 to Rp500 per share. Its listing is scheduled for 7 July 2026.
PT Nitrasanata Dharma Tbk. (JECX) will conduct an IPO of up to 487,983,500 ordinary shares, comprising 325,322,300 shares from its issued and paid-up capital and 162,661,500 shares owned by DR.Dr. Waldensius Girsang, collectively representing a maximum of 15% of the capital with a nominal value of Rp16 per share. The offering price is set between Rp1,200 and Rp1,400 per share, with listing on 7 July 2026.
PT Esa Medika Mandiri Tbk (EMMI) is offering up to 522.86 million new shares, representing a maximum of 30% of its enlarged capital, at a price range of Rp446 to Rp515 per share. Its shares are scheduled to list on 8 July 2026.
PT Prodia Diagnostic Line Tbk (PRDL) will offer up to 522.9 million new shares, also representing 30% of its post-IPO capital, with a price range of Rp100 to Rp120 per share. Listing is scheduled for 9 July 2026.
IDX remains optimistic about achieving its 2026 target of 50 new listings, nearly double the 26 recorded in 2025. IDX President Director Jeffrey Hendrik stated that the target remains on track, though he acknowledged that IPO decisions are strategic and influenced by various factors, including market conditions. He noted that companies and their underwriters must consider whether they can achieve optimal pricing and sufficient market absorption. Hendrik stressed that the IDX prioritises the quality of listed companies over quantity to safeguard the sustainability of the Indonesian capital market.