By Ruchir SankhlaThe Nifty 50 closed flat on July 13 after recovering from early losses, as a rally in IT stocks helped offset weakness in metal, FMCG and realty shares. The early pressure came after tensions in the Middle East escalated again over the weekend.
The latest flare-up followed US strikes on Iranian military targets, prompting Tehran to retaliate by targeting US military facilities across Gulf countries, including Bahrain, Kuwait, Oman, Jordan and Qatar. Iran also claimed that it had closed the Strait of Hormuz. The development pushed crude oil prices higher and raised concerns over oil supply disruptions.
Last week, Indian markets ended with moderate losses due to rising West Asia tensions after posting gains for four straight weeks. However, the market pared its losses in the last two sessions, helped by positive Q1FY27 business updates from banking & IT companies, and continued buying by foreign investors.
Looking ahead, investors will track Q1 earnings, with major companies such as Reliance Industries, HCL Technologies, Wipro, HDFC Bank and ICICI Bank set to announce results this week. Market participants will also watch India’s June CPI and WPI inflation data, US inflation, Fed Chair Kevin Warsh’s testimony, and progress in Middle East tensions.
Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal, said, “Indian equity markets are expected to sustain their gradual upmove on the back of supportive domestic fundamentals and improving global cues.”
Primary market activity is expected to be moderate this week after eight IPOs listed last week. Four companies are scheduled to make their market debut, while four issues are lined up for subscription.
Eight IPOs made their market debut last week
Knack Packaging, a Gujarat-based integrated packaging solutions provider, made a positive debut on July 8. The Rs 439.5 crore IPO was subscribed 83.3x and listed at a 10.6% premium to its issue price of Rs 170. The company plans to use the net proceeds to establish a new manufacturing unit in Gujarat. The stock is currently trading around 20.8% above its issue price.
Knack Packaging sees strong post-listing momentum
Seven SME IPOs also entered the market last week.
IC Electricals Company, an engineering and manufacturing firm, made a strong debut on July 10. The Rs 47.9 crore IPO was subscribed over 390.8x and listed at a 67.7% premium to its issue price of Rs 99. The stock is currently trading around 69.4% above its issue price.
Atharva PolyPlast, a precision plastic components manufacturer, made a strong debut on July 7. The Rs 27 crore IPO was subscribed 10.1x and listed at a 15% premium to its issue price of Rs 60. The stock is currently trading around 33% above its issue price.
Sampark Logistics, a logistics and supply chain service provider, made a decent debut on July 7. The Rs 27.2 crore IPO was subscribed 3.3x and listed at a 6% premium to its issue price of Rs 84. The stock is currently trading around 10.7% above its issue price.
Kratikal Tech, an AI-driven cybersecurity solutions provider, made a robust debut on July 7. The Rs 39.7 crore IPO was subscribed 205.1x and listed at a 42.2% premium to its issue price of Rs 135. The company plans to use the proceeds for product development. The stock is currently trading around 37% above its issue price.
Seemax Resources, a material handling equipment company, made a weak debut on July 7. The Rs 19.7 crore IPO was subscribed 3.5x and listed at a 20% discount to its issue price of Rs 141. The company plans to use the proceeds for capital expenditure towards material handling equipment. The stock is currently trading nearly 38% below its issue price.
Vinit Mobile also debuted below its issue price. The multi-brand mobile phone retailer listed at a 1.9% discount to its issue price of Rs 158 on July 7 after its Rs 34.1 crore IPO was subscribed 1.6x. The company plans to use the proceeds to expand its retail operations. The stock is currently trading around 24% below the issue price.
Teja Engineering Industries, an energy infrastructure and engineering solutions provider, made a stellar debut on July 7. The Rs 37.4 crore IPO was subscribed 1.1x and listed at a 90% premium to its issue price of Rs 220. The company plans to use the proceeds to purchase new equipment. The stock is currently trading 138.3% above its issue price.
From cables to auto parts: Four IPOs line up for listing
Kusumgar, a manufacturer of synthetic fabrics, opened its Rs 650 crore IPO for subscription on July 8 and closed on July 10. The issue saw strong demand, closing with an overall subscription of over 128.8x. Since the offering consists entirely of an offer for sale (OFS), the company will not receive any funds. The shares will list on July 15.
Laser Power and Infra, a Kolkata-based power cables and transmission products manufacturer, opened its Rs 742 crore IPO for subscription on July 9 and closed on July 13. As of the last day, the issue saw an overall subscription of 35.4x. The shares will list on July 16.
Kusumgar draws strong demand, while Laser Power lags
Two SME issues are also set to debut.
Happy Steels, a Punjab-based automotive component manufacturer, opened its Rs 25 crore IPO for subscription on July 9 and closed on July 13. As of the last day, the issue saw a modest response with an overall subscription of 65.1x. The company plans to use the proceeds to purchase additional plant and machinery for its existing manufacturing unit. The shares will list on July 16.
Devson Catalyst, a Gujarat-based manufacturer of industrial catalysts and adsorbents, opened its Rs 42.3 crore IPO for subscription on July 9 and closed on July 13. As of the last day, the issue saw strong demand with an overall subscription of 193.1x. The company plans to use the proceeds to set up a new manufacturing unit. The shares will list on July 16.
Rs 9,813 crore SBI Funds IPO leads the new issue calendar
SBI Funds Management, India's largest asset management company and a joint venture between State Bank of India and Amundi, will open its Rs 9,812.9 crore IPO for subscription on July 14, with bidding closing on July 16. The price band is set at Rs 545–574 per share. The issue consists entirely of an offer-for-sale (OFS) of approximately 17.1 crore shares. Since it is an OFS, the entire proceeds will go directly to the selling shareholders. The shares will list on July 21.
Alpine Texworld, an Ahmedabad-based textile manufacturer, will open its Rs 126.3 crore IPO for subscription from July 14 to July 16. The price band is set at Rs 100–105 per share. The offering is entirely a fresh issue of 1.2 crore shares. The company plans to use the proceeds to establish a new weaving unit to expand its production capabilities. The stock will list on July 21.
Alpine and SBI Funds see profit grow faster than revenue
Two SME IPOs are also lined up.
Millworks Technologies, a Bengaluru-based precision engineering firm, will launch its Rs 160.3 crore IPO from July 14 to July 16. The price band is set at Rs 315–331 per share. The offering is entirely a fresh issue of 48 lakh shares. The company will use the raised capital to scale operational capacities and drive future business growth. The shares will list on July 21.
Sotefin Bharat, a Kolkata-based automated parking solutions provider, will launch its Rs 89.8 crore IPO from July 16 to July 20. The price band is set at Rs 178–187 per share. The offering consists entirely of a fresh equity issue of 48 lakh shares. The company plans to use the newly raised capital to fund its manufacturing facilities. The shares will list on July 23.
