By Divyansh Pokharna“The bomb went through it like butter,” Trump said in an interview about the US strike on Fordow, Iran’s nuclear site. The bombs have stopped falling - for now - and the Nifty 50 rose 2.1% last week, helped by a sharp drop in crude prices, and strong buying by FIIs. Speculation about a potential US rate cut in July by the Federal Reserve has also lifted market sentiment.
India may also be close to finalising a trade deal with the US ahead of President Trump’s July 9 deadline to impose reciprocal tariffs. At a White House event on June 26, Trump hinted at a breakthrough, calling the potential deal with India “very big”. But there have been no new announcements yet.
The primary market is set for a busy week, with nine IPOs opening for subscription, including one from the mainboard segment. Alongside, 15 companies are scheduled to list on the stock exchanges this week, following six listings in the previous week.
Six new companies debuted on the bourses over the past week
Arisinfra Solutions, a construction materials supplier, listed on June 25 at a 7.7% discount to its issue price of Rs 222. The IPO saw an overall subscription of 2.6X, weighed down by a weak response from QIBs.
Arisinfra Solutions lists at a discount; SMEs deliver mixed results
Among SME listings, Eppeltone Engineers and Influx Healthtech made strong debuts. Eppeltone, which was subscribed 275.7X, is now trading 96.1% above its issue price. Influx Healthtech, with a subscription of 187.3X, is currently up by 40%.
Mayasheel Ventures and Safe Enterprises listed on June 27 at a premium. Their IPOs were subscribed 216.5X and 13.7X, and the stocks are now trading 29.6% and 14.9% higher, respectively.
In contrast, Aakaar Medical Technologies, which listed with a 4.2% gain, is now trading at a 1% discount. The IPO received a relatively low subscription of 2.2X.
Nine new offerings this week, with Crizac on the mainboard
Crizac, a B2B education platform, connects agents with global higher education institutions and provides international student recruitment services in the UK, Canada, Ireland, Australia, and New Zealand. Its IPO will open on July 2 and close on July 4, with listing scheduled for July 9.
Crizac’s revenue growth outpaces net profit growth in FY24
The company aims to raise Rs 860 crore through a complete offer-for-sale, to provide an exit to its promoters. The issue has been allocated 50% to QIBs, 35% to HNIs, and 15% to retail investors.
Five SME IPOs opened for subscription on June 30 and will close on July 2, with all scheduled to list on July 7.
- Vandan Foods is looking to raise Rs 30.4 crore through a fresh issue, with shares priced at Rs 115 each.
- Marc Loire Fashions plans to raise Rs 21 crore through a fresh issue, offering shares at Rs 100 apiece.
- Cedaar Textile has set a price band of Rs 130–140 and plans to raise Rs 60.9 crore.
- Pushpa Jewellers is targeting Rs 98.7 crore, which includes a fresh issue of Rs 74 crore, with a price band of Rs 143–147.
- Silky Overseas aims to raise Rs 30.7 crore, offering shares in the range of Rs 153–161.
Three more SME IPOs are set to open this week.
- Happy Square Outsourcing Services will open on July 3 and close on July 7, with listing on July 10 on NSE SME. The company plans to raise Rs 24.3 crore, in a price range of Rs 72-76 per share.
- Cryogenic OGS will open its IPO on July 3 and close on July 7, with listing on July 10 on BSE SME. It aims to raise Rs 17.8 crore, offering shares in the price range of Rs 44-47 each.
- Meta Infotech plans to raise Rs 80.2 crore, with Rs 16 crore as fresh issue. Its IPO opens on July 4, closes on July 8, and is scheduled to list on July 11 on BSE SME. The price band is set at Rs 153-161 per share.
15 new IPOs are lined up for listing this week
Three IPOs — Globe Civil Projects, Ellenbarrie Industrial Gases, and Kalpataru — are set to list on July 1. Globe Civil received strong interest with 86X subscription, while Ellenbarrie was subscribed 22.2X. In contrast, Kalpataru saw a modest 2.3X subscription.
Kalpataru reported a net loss of Rs 116 crore in FY24, down from Rs 229 crore in FY23, and plans to use the IPO proceeds to repay borrowings and for general corporate purposes.
QIBs drive subscriptions in key mainline IPOs
Sambhv Steel Tubes and HDB Financial Services are scheduled to list on July 2. Sambhv was subscribed 28.5X, while HDB Financial saw 16.7X bidding. In HDB’s Rs 12,500 crore issue, HDFC is offloading shares worth Rs 10,000 crore via offer-for-sale, while Rs 2,500 crore is a fresh issue by the company. Sambhv Steel’s Rs 540 crore IPO includes a fresh issue of Rs 440 crore and an offer-for-sale of Rs 100 crore.
Indogulf Cropsciences will close its bidding on June 30 and is set to list on July 3. As of day 2, the IPO remains undersubscribed at 0.9X.
Nine SME IPOs are scheduled to list this week.
- AJC Jewel Manufacturers, Abram Food, Icon Facilitators, and Shri Hare-Krishna Sponge Iron will all list on July 1. Their IPOs were subscribed 2.7X, 27.1X, 2.4X, and 6.4X, respectively.
- Suntech Infra Solutions, which received the highest SME subscription of 208X, is set to list on July 2.
- Ace Alpha Tech and PRO FX Tech will close their IPOs on June 30 and list on July 3. By day 2, they were subscribed 1.1X and 1.4X, respectively.
- Neetu Yoshi and Adcounty Media India will close their IPOs on July 1 and are scheduled to list on July 4. On the first day of bidding, they received subscriptions of 0.5X and 2X, respectively.
