By Ruchir SankhlaThe Nifty 50 plunged 1.7% on Monday, extending last week’s 2.9% decline, as rising crude oil prices and escalating US-Israel-Iran tensions in the Middle East have hit investor sentiment.
Oil prices jumped above $100 a barrel. The deepening Middle East crisis and a blocked Strait of Hormuz sparked worries about global supply. Producers like Kuwait, the UAE, and Iraq have begun cutting output as their storage facilities near capacity, and as they face drone and missile attacks. Prices eased slightly after news that G7 countries might release crude from strategic reserves.
On the domestic front, investors will track India’s retail inflation data due on March 12. Inflation is expected to rise slightly in February from 2.13% in January, which will influence the interest rate outlook of the Reserve Bank of India.
The focus will also be on the inflation data from the US and China, and US Q4 GDP numbers.
Vinod Nair, Head of Research, Geojit Investments, said, "While geopolitical tensions remain a overhang, selective value buying opportunities are expected to emerge, offering long term investors attractive entry points."
Another busy week unfolds in the IPO market, with five new issues opening and three companies set to begin trading after five listings last week.
From jewelry to toys: Recent IPOs fail to shine on debut
Omnitech Engineering, a precision-engineered components manufacturer, made a weak debut on March 5. The Rs 583 crore IPO was subscribed 1.1X and listed at a discount of 11% against the issue price of Rs 227. The stock is currently trading 16% below its issue price.
PNGS Reva Diamond Jewellery made a muted debut on March 4. The Rs 380 crore IPO was subscribed 1.2X and listed at a discount of 2.9% to its issue price of Rs 386. The stock is currently trading near its issue price.
Omnitech stays in the red while PNGS Reva turns positive
The SME segment witnessed three listings.
Yaap Digital, a digital marketing and content company, had a disappointing listing on March 5. The Rs 80.1 crore IPO was subscribed 4X. Despite the moderate subscription, the stock listed at a discount of 12.4% compared to the issue price of Rs 145. Since then, it has trimmed some losses and is currently trading 6.9% below the issue price.
Striders Impex, a distributor of toys and kids' merchandise, made a weak debut on March 6. The Rs 36.3 crore IPO was subscribed 1.3X and listed at a 2.8% discount to its issue price of Rs 72. The stock faced selling pressure after listing and is currently trading 12.2% below its issue price.
Acetech Ecommerce, a digital retail and distribution platform, had a flat stock market debut on March 9. The Rs 49 crore IPO was subscribed 1.1X. The stock listed at Rs 112, the same as its issue price, resulting in no listing gains. It is currently trading about 5% above the issue price.
All eyes on SEDEMAC as It leads this week's listings
SEDEMAC Mechatronics, a Pune-based manufacturer of electronic controllers, closed its Rs 1,087.5 crore IPO on March 6. The issue saw a decent response, with an overall subscription of 2.7X, led by qualified institutional buyers (QIBs) segment. The price band for the IPO was set at Rs 1,287–1,352 per share. The entire issue is an offer for sale by existing shareholders. The shares are scheduled to list on March 11.
SEDEMAC sees weak HNI and retail participation
Two SME IPOs are set for market debut this week.
Elfin Agro, an agricultural products company, closed its Rs 25 crore IPO on March 9. The issue received a subscription of 1.3X. The entire issue consists of a fresh sale of 53 lakh shares, and the company plans to use the funds for working capital and general corporate purposes. The shares, priced at Rs 47 apiece, are scheduled to list on March 12.
Srinibas Pradhan Constructions, an infrastructure development company, will close its Rs 20.3 crore IPO on March 10. The issue was subscribed 1X by the end of the second day. The price band is set at Rs 91-98 per share. The IPO is a mix of a fresh issue of 17 lakh shares and an offer for sale of 4 lakh shares. The stock will list on March 13.
Multiple IPOs line up for subscription this week
Rajputana Stainless, a stainless steel products manufacturer, will open its Rs 255 crore IPO from March 9 to March 11. The price band is set at Rs 116–122. The issue is a mix of a fresh issue of 1.5 crore shares and an offer for sale of 62.5 lakh shares. The stock is scheduled to list on March 16. The company plans to use the proceeds to expand its manufacturing facility in Gujarat.
Innovision, a provider of manpower and toll management services, will open its Rs 322.8 crore IPO from March 10 to March 12. The price band is set at Rs 521–548. The offering includes a fresh issue of 47 lakh shares and an offer for sale of 12.4 lakh shares. The stock is expected to list on March 17.
Raajmarg Infra Investment, an NHAI-sponsored infrastructure investment trust (InvIT), will open its Rs 6,000 crore IPO from March 11 to March 13. The price band is set at Rs 99–100 per unit. The issue is intended to unlock the monetization potential of national highway assets. The units are scheduled to list on March 24. As a newly incorporated entity (est. Nov 2025), it lacks a historical financial track record.
Skyways Air Services, an air freight and logistics company, will open its IPO for subscription from March 18 to March 20. The issue comprises 4.2 crore shares, featuring a fresh issue of 2.9 crore shares and an offer for sale of 1.3 crore shares. The stock is set to list on March 25.
Innovision and Skyways lead revenue growth; Rajputana lag
In the SME segment, Apsis Aerocom, a Bengaluru-based precision engineering company, will open its Rs 35.8 crore IPO from March 11 to March 13. The price band is set at Rs 104–110. The issue is entirely a fresh issue of 32.5 lakh shares. The stock is scheduled to list on March 18. The capital raised will be used to purchase new machinery for its Bangalore facility and for general corporate purposes.
