By Divyansh PokharnaIndian equities came under pressure last week, with the Nifty 50 falling over 1%. Weak global cues, continued foreign fund outflows, and delays in finalising the India-US trade deal weighed on sentiment. The mood worsened after IT major TCS reported weaker-than-expected results, dragging down the entire IT sector.
Adding to the uncertainty, Bloomberg reported that the US is working toward an interim trade deal with India that may reduce its proposed tariffs to below 20%. While this seems like a step forward, analysts cautioned that timelines are unclear, as are the impacts of Trump’s sector specific tariffs.
Ajay Srivastava, founder of the Global Trade Research Initiative (GTRI), added, “A hasty deal under pressure could have irreversible consequences, especially when such agreements may not survive the next shift in US politics.”
In the IPO market, activity is expected to cool a bit this week. Only three IPOs are set to open, including the Rs 3,395-crore offer from pharma company Anthem Biosciences on the mainboard. The other two are from the SME segment. Meanwhile, three companies are lined up to list on the stock exchanges, following seven listings in the previous week.
Seven new companies debuted on the bourses over the past week
Crizac, a B2B education platform, listed on July 9 at a 14.7% premium to its issue price of Rs 245 after its IPO was subscribed 59.8X. QIBs led the demand with 134.3X bidding. The stock is currently trading 36.3% higher.
Travel Food Services made a modest debut on July 14, listing at a 2.3% premium. The IPO was subscribed 2.9X, and the stock is now trading 1.8% below its issue price.
SMEs shine with strong gains while mainline IPOs see a subdued debut
Among SME listings, Cryogenic OGS, Smarten Power Systems, and Meta Infotech saw strong gains. Cryogenic, which was subscribed 646.5X, is now up 109.5%. The other two are also trading higher post listing.
Happy Square Outsourcing Services and Chemkart India listed with moderate gains of 1.3% and 0.8%, respectively. Happy Square, subscribed 3.3X, is now up 11.6%, while Chemkart, subscribed 5.6X, is trading 3.9% above its issue price.
Three new offerings this week, with Anthem on the mainboard
Anthem Biosciences, a pharma company that helps other firms with drug research, development, and manufacturing, launched its IPO on July 14. The IPO will close on July 16, with listing set for July 21.
Smartworks posts net loss in FY25; TFS and SMEs outshine with profit growth
The Rs 3,395 crore offer is a complete offer for sale (OFS), meant to give an exit to its promoters. The price band is Rs 540–570 per share, with 50% reserved for institutional investors, 35% for HNIs, and 15% for retail investors.
Alongside, two SME IPOs are also opening for subscription.
Spunweb Nonwoven, a textile company that makes non-woven fabrics used in products like doormats, bags, carpets, and tarpaulins, opened its IPO on July 14. The Rs 61 crore offer, entirely a fresh issue, will close on July 16 and list on July 21 on the NSE SME platform.
Monika Alcobev, an importer and distributor of premium alcoholic beverages in India and nearby regions, will open its IPO on July 16, close on July 18, and list on July 23 on the BSE SME platform. The Rs 153.7 crore IPO includes both a fresh issue and an offer for sale. The price range is set between Rs 271–286 per share.
Three fresh IPO listings are scheduled this week
Smartworks Coworking Spaces, a workspace manager, offers fully serviced office spaces with customized managed setups. Its IPO will close on July 14, with listing expected on July 17.
By day 2 of bidding, the issue was subscribed 1.1X, with the QIB segment lagging at 0.6X. The company aims to raise Rs 582.6 crore, including Rs 445 crore as a fresh issue and the rest via OFS.
Smartworks Coworking draws weak bids, while SMEs see strong oversubscription
Among SME listings, GLEN Industries will be the first to debut this week, with listing scheduled for July 15. The IPO was subscribed 242.3X, driven largely by HNIs, who bid 612.9X, while QIB participation stood at 98.7X.
Asston Pharmaceuticals, which closed its IPO on July 11, is slated to list on July 16. The pharma company saw a strong overall subscription of 173.5X.
