Jakarta. The Indonesia Stock Exchange (IDX) has received applications from eight companies set to launch their initial public offerings (IPOs) in January.

Despite escalating political tensions ahead of the February 14 presidential election, these companies are steadfast in pursuing their IPO plans.

The IDX, which recently surpassed 900 members, anticipates a further surge in new memberships next year.

Below are the eight companies intending to debut with an IPO to raise fresh capital on the bourse:

1. Asri Karya Lestari
Business Type: Construction contractor and heavy machinery/vehicle lessor. Engaged in major projects such as the elevated toll road named after the ruler of the United Arab Emirates, Mohammed bin Zayed.
Stock Issuance: 1.25 billion
Price Range: Rp 100-130 per share
Potential Proceeds: Rp 162.5 billion
Underwriter: NH Korindo Sekuritas
IDX Entry: January 5

2. Citra Nusantara Gemilang
Business Type: Natural gas distributor and trader, operating in multiple regions.
Stock Issuance: 531.4 million
Price Range: Rp 284-338 per share
Potential Proceeds: Rp 179.6 billion
Underwriter: Pilarmas Investindo Sekuritas
IDX Entry: January 8

3. Adhi Kartiko Pratama
Business Type: Operates a sizable nickel mine in Southeast Sulawesi, producing 1.4 million tons of nickel ores annually.
Stock Issuance: 1.2 billion
Price Range: Rp 430-530 per share
Potential Proceeds: Rp 644.6 billion
Underwriters: KB Valbury Sekuritas, Trimegah
IDX Entry: January 9

4. Samcro Hyosung Adilestari
Business Type: Producer of webbing tape used in various industries.
Stock Issuance: 693.8 million
Price Range: Rp 103-108 per share
Potential Proceeds: Rp 74.9 billion
Underwriter: UOB Kay Hian Sekuritas
IDX Entry: January 10

5. Multi Spunindo Jaya
Business Type: Textile company specializing in non-woven sheets for diverse industries.
Stock Issuance: 882.3 million
Price Range: Rp 250-350 per share
Potential Proceeds: Rp 308.8 billion
Underwriters: BRI Danareksa Sekuritas, Reliance Sekuritas
IDX Entry: January 10

6. Sinergi Multi Lestarindo
Business Type: Manufacturer of chemical substances for the food, beverage, and cosmetics industries.
Stock Issuance: 465.6 million
Price Range: Rp 175-190 per share
Potential Proceeds: Rp 88.4 billion
Underwriter: MNC Sekuritas
IDX Entry: January 10

7. Manggung Polahraya
Business Type: Construction firm specializing in buildings and road infrastructure, with projects in Sumatra.
Stock Issuance: 762.5 million
Price Range: Rp 90-110 per share
Potential Proceeds: Rp 83.9 billion
Underwriter: Panca Global Sekuritas
IDX Entry: January 11

8. Griptha Putra Persada
Business Type: Operates in hospitality and the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector.
Stock Issuance: 200 million
Price Range: Rp 100-105 per share
Potential Proceeds: Rp 21 billion
Underwriter: Elit Sukses Sekuritas
IDX Entry: January 18