By Trendlyne AnalysisThe Nifty 50 closed lower on September 7 as stronger-than-expected US jobs data renewed fears of a Federal Reserve rate hike later this month. The data pushed US bond yields higher and weighed on emerging market sentiment, with IT stocks leading the fall in India.
Crude oil added to the pressure after Brent surged to a six-week high amid renewed US-Iran tensions. The conflict kept oil flows in the Middle East under stress, while Tehran said it would announce a restricted zone outside the Strait of Hormuz in the coming days.
Back home, recent macro data gave mixed signals. India’s Q1FY27 GDP grew 7.8%, beating expectations and showing resilience despite global uncertainty. However, August manufacturing PMI fell to 52.8, its weakest reading in five years, while services growth stayed near a four-year low. Foreign institutional investors (FIIs) also turned sellers in the first week of September, pulling out Rs 7,443 crore after two months of inflows.
Looking ahead, investors will track US inflation data, developments around the US-Iran conflict, crude oil prices, rupee movement, foreign investor activity and India’s foreign exchange reserves data. Ajit Mishra, SVP, Research at Religare Broking, said, “This week is expected to remain highly sensitive to global monetary policy, crude oil prices and geopolitical developments.”
The IPO pipeline is set to take centre stage this week, with 21 new issues opening for subscription and five companies heading for listing. The activity comes after 17 IPOs debuted in the previous week.
Seventeen IPOs debut as ESDS steals the spotlight
ESDS Software Solution and HyTech Engineers led the recent IPO debuts. ESDS Software Solution listed at a stellar 76.5% premium to its issue price on September 4. The cloud service provider plans to use the proceeds to purchase cloud computing infrastructure. HyTech Engineers debuted at a 41.5% premium to its issue price on September 1, and the company intends to use the fresh capital to procure machinery and equipment for its manufacturing units.
Lumino Industries and Priority Jewels also delivered positive debuts. Lumino Industries listed at a 34.1% premium on September 3, backed by its plans to acquire new equipment and expand wire and cable production capacity. Priority Jewels debuted at a 15% premium on September 4 and plans to use the capital to repay working capital borrowings.
Symbiotec Pharmalab, Purple Style Labs, Skyways Air Services, and Annu Projects, however, had weak or flat debuts. Symbiotec Pharmalab made a flat debut on September 1, however, it is currently trading 11.2% above its issue price. Purple Style Labs debuted at a 7% discount to its issue price of Rs 575 on September 7 following muted investor demand. Skyways Air Services listed at a 10.1% discount to its issue price of Rs 138 on September 1, while Annu Projects suffered the weakest mainboard debut, listing at a heavy 27.3% discount to its issue price of Rs 99 on September 2.
ESDS builds on gains, while Skyways, Annu slip
Nine SME IPOs also entered the market last week.
- Shanti Inorganics delivered the strongest listing among SMEs on September 7. Shares debuted at a stellar 90% premium to the issue price after the Rs 47.2 crore IPO was exceptionally subscribed at 132.3x. The company plans to use the proceeds for funding expansion initiatives and enhancing production capacities.
- Kwick Forensic Solutions made a stellar debut on September 3. This Rs 50.8 crore IPO listed at a 66.7% premium to its issue price of Rs 90.
- Ashutosh Fibre also made a strong debut on September 7. The Rs 56.4 crore IPO was heavily subscribed and listed at a 52.2% premium to its issue price of Rs 92.
- Sumax Engineering made a positive debut on September 2. The Rs 53.4 crore IPO listed at a 9.9% premium to its issue price. The company plans to use the proceeds to fund the construction of its manufacturing units.
- Phychem Technologies made a steady debut on September 7. The Rs 14.6 crore IPO listed at a 3.7% premium to its issue price. The company plans to use the fresh proceeds to procure plant and machinery.
- Complete Sports and Management, an amusement and leisure equipment distributor, made a steady debut on September 4. The Rs 74.9 crore IPO listed at a 3% premium. The company plans to use the proceeds for purchasing gaming equipment and setting up a new entertainment centre in Mumbai.
- Madhur Knit Crafts made a flat debut on September 1. The textile manufacturer's Rs 53.3 crore IPO listed at its issue price of Rs 100. The company plans to use the proceeds to purchase solar panels and meet working capital requirements.
- Paluck Technologies had a weak debut on September 4. Despite strong subscription numbers, it listed at a 2.5% discount to its issue price of Rs 48. The company plans to use the capital to purchase machinery.
- ABH Healthcare also had a weak debut on September 1. The healthcare services provider's Rs 35 crore IPO listed at a 2.9% discount to its issue price of Rs 102. The company plans to use the proceeds to pursue inorganic growth through acquisitions.
Five IPOs prepare to make their market debut
Deepa Jewellers, a trader of gold and diamond jewellery, opened its Rs 459.7 crore IPO for subscription on September 1 and closed the issue on September 3. The issue saw good investor demand with an overall subscription of 42.6x. The company plans to use the capital for procurement and scaling up of inventory. The shares will debut on September 8.
Rays of Belief, an enterprise delivering plans for neurodevelopmental disorders under the brand Mom's Belief, received overwhelming bids from investors before its Rs 125 crore IPO closed on September 3, with an overall subscription of 107.7x. The company plans to use the proceeds to expand its physical centre network, technology infrastructure, and brand outreach. Its shares will list on September 8.
Rays of Belief dominates investor demand
Three SME issues are also in focus.
Farm Peace, an integrated contract farming company, opened its Rs 32 crore IPO for subscription on September 1 and closed the issue on September 3. The issue saw a subdued response, closing with an overall subscription of 1.1x. The shares will list on September 8.
FlyHi Maritime Travels, a maritime crew travel management company, opened its Rs 52.6 crore IPO for subscription on September 1 and closed the issue on September 3. The issue saw a modest response from investors, with an overall subscription of 2.1x. The company plans to use the proceeds to support talent acquisition. The shares will list on September 8.
Qualiance International, an integrated apparel manufacturer, opened its Rs 45.1 crore IPO for subscription on September 4 and will close on September 8. As of the second day of bidding, the issue saw strong investor interest, with an overall subscription of 72.3x. The company plans to use the proceeds to set up a new manufacturing facility at Tiruppur. The stock will list on September 11.
From transformers to media: 21 IPOs enter the pipeline
Kanohar Electricals, a transformer manufacturer and EPC solutions provider, will open its Rs 1,055.7 crore IPO from September 8 to September 10. Priced at Rs 601–632 per share, the company plans to use the capital for capex towards machinery, facilities and solar panels. The stock will list on September 16.
Karamtara Engineering, which manufactures products for renewable energy and power transmission projects, will launch its Rs 875 crore IPO from September 9 to September 11. The price band is set at Rs 241–254 per share. The stock will list on September 17.
Asset Reconstruction Company (India), or ARCIL, will open its Rs 733 crore IPO from September 9 to September 11 at Rs 132–139 per share. The IPO is entirely an offer for sale. The stock will list on September 17.
Manipal Payment and Identity Solutions, a manufacturer of banking and smart cards, will launch its Rs 805 crore IPO from September 9 to September 11. The price band is set at Rs 322–339 per share, and the company plans to use the fresh proceeds to purchase and set up equipment. The stock will list on September 17.
Rentomojo, a D2C rental platform for furniture and appliances, will open its Rs 1,255.6 crore IPO from September 9 to September 11 at a price band of Rs 384–404 per share. The stock will list on September 17.
Rentomojo edges Kanohar on revenue growth
Pranav Constructions' Rs 351 crore IPO opens on September 7, while Prasol Chemicals' Rs 500 crore issue and Glass Wall Systems' Rs 427.9 crore IPO will open on September 8. Pranav Constructions plans to use the proceeds for redevelopment expenses, while Glass Wall Systems will fund capex for a new GPU project at Vile Bhagad.
LCC Projects and Steamhouse India will open their Rs 427.1 crore and Rs 414 crore issues, respectively, on September 9. The proceeds will largely go towards equipment purchases, debt repayment and expansion. Veegaland Developers' Rs 210 crore IPO will follow on September 10, while Manika Plastech will open its Rs 125.5 crore issue on September 11, with proceeds earmarked for project execution, land acquisition and machinery.
Glass Wall leads revenue growth, Prasol tops profit growth
Nine SME IPOs are also lined up.
- Apana Logistics will launch its Rs 34.1 crore IPO from September 7 to September 9. The company plans to use the proceeds to purchase reach stackers. The stock will list on September 15.
- Vinod Texworld will open its Rs 42.8 crore IPO from September 9 to September 11. The company plans to use the proceeds to expand its fabric processing plant. The stock will list on September 17.
- Amtech Esters will launch its Rs 17.9 crore IPO from September 9 to September 11. The price band is set at Rs 71–75 per share. The stock will list on September 17.
- Infrax Renewable will open its Rs 40.9 crore IPO from September 9 to September 11. The company plans to use the proceeds for capital expenditure towards machinery. The stock will list on September 17.
- Panchatv Bharat will launch its Rs 24.6 crore IPO from September 10 to September 15. The fixed-price issue is set at Rs 140 per share. The stock will list on September 18.
- Raksan Transformers will open its Rs 150.5 crore IPO for subscription from September 10 to September 15. The company plans to use the proceeds to set up a new manufacturing facility in Haryana. The stock will list on September 18.
- Om Galaxy will launch its Rs 105 crore IPO from September 10 to September 15. The company plans to use the proceeds to set up a new manufacturing unit. The stock will list on September 18.
- Maharaja & Speedex will open its Rs 80.1 crore IPO on September 10. The offering comprises a fresh issue of 34.5 lakh shares and an offer for sale of 8.6 lakh shares, with listing on September 18.
- Century Business Media will launch its Rs 17.1 crore IPO from September 11 to September 16. The company plans to use the proceeds for airport security deposits and purchasing media assets. The stock will list on September 21.
