The Nifty 50 dropped over 1% last week as rising tensions between Israel and Iran overshadowed progress in US–China trade talks. Higher oil prices sparked concerns about a possible rise in inflation, which hurt market sentiment. Investors see gold as a safe-haven in this uncertain scenario.

Crude oil prices jumped over 13% on Friday to hit a two-month high after Israel said it had struck Iran, raising fears of supply disruptions. However, analysts say that this is unlikely to affect retail inflation in India, which fell to a 75-month low in May, as fuel prices in the country have remained stable. Madan Sabnavis, Chief Economist at Bank of Baroda, said, “When crude oil prices fell to $60 per barrel, the benefit wasn’t passed on to consumers. So, rising prices now are unlikely to impact inflation.” 

Besides the Israel-Iran conflict, investors will watch key central bank meetings this week. The US Federal Reserve is expected to keep interest rates unchanged at 4.25–4.5% in its June 18 meeting. Japan and the UK’s central banks are also likely to keep rates steady amid uncertainty over US tariff policies.

The activity in the primary market is expected to remain strong this week, with six IPOs lined up, including one from the mainboard segment. Additionally, four companies are scheduled to list, following two listings last week.

Two new companies debuted on the bourses in the past week

Ganga Bath Fittings, a bathroom accessories maker, listed on June 11 at a 20.4% premium over its issue price of Rs 49. The IPO saw a 1.6X overall subscription, with the retail investors subscribing 2.4X.

Ganga Bath Fittings slips sharply post listing, while Sacheerome climbs higher

Sacheerome, a fragrance manufacturer, was subscribed 291.1X, with the HNI category seeing a 1,075.3X subscription. The stock listed at a 50% premium to its issue price of Rs 102 and is currently trading 56.4% higher.

A construction materials supplier to raise Rs 500 crore via a fresh issue 

ArisInfra Solutions operates a B2B platform that helps construction and infrastructure companies buy materials and manage finances. It offers digital tools to simplify the procurement process across the construction materials supply chain.

The IPO will open on June 18, close on June 20, and is scheduled to list on the bourses on June 25. The company has reserved up to 75% of the IPO for qualified institutional buyers (QIBs), not more than 10% for high net-worth individuals (HNIs), and not more than 15% for retail investors.

Arisinfra posts net loss in FY24; SMEs outshine with profit growth

The construction materials provider aims to raise Rs 499.6 crore through a fresh issue. The proceeds will be utilised for repayment/prepayment of certain borrowings, meeting working capital needs, investment in its subsidiary Buildmex-Infra, general corporate purposes, and potential future acquisitions.

The company’s product range includes GI Pipe (Steel), MS Wire (Steel), MS TMT Bar (Steel), OPC Bulk (Cement), and more. Its client list features established names like Capacite Infraprojects, J Kumar Infraprojects, Afcons Infrastructure, EMS, and S P Singla Constructions.

Two SME IPOs opened for subscription on June 16 and will close on June 18, with both scheduled to list on the NSE SME platform on June 23.

• Patil Automation aims to raise Rs 69.6 crore through a fresh issue, with a price band of Rs 114–120 per share.
• Samay Project Services plans to raise Rs 14.7 crore, also entirely through fresh shares, with a price band of Rs 32-34 per share. 

Three more SME IPOs are set to open this week, all scheduled to list on the NSE SME platform.

• Eppeltone Engineers will open on June 17 and close on June 19, with listing on June 24. The company plans to raise Rs 44 crore, with a price band of Rs 125–128 per share.
• Influx Healthtech will open its IPO on June 18 and close on June 20, with listing on June 25. It aims to raise Rs 58.6 crore, offering shares in the price range of Rs 91–96 each.
• Mayasheel Ventures plans to raise Rs 27.3 crore entirely through a fresh issue. Its IPO opens on June 20, closes on June 24, and is scheduled to list on June 27. The price band is set at Rs 44–47 per share.

Four new IPOs are set for listing this week 

Oswal Pumps, the only mainboard IPO to list this week, opened for subscription on June 13 and will close on June 17, with listing set for June 20. On Day 1, the IPO was subscribed 0.4X, led by retail investors at 0.8X, while QIB interest remained low at just 0.1X.

The pump maker’s Rs 1,387.3 crore issue includes a Rs 890 crore fresh issue and a Rs 497.3 crore offer for sale by promoter Vivek Gupta. The IPO proceeds will be used towards capital expenditure, setting up new manufacturing units in Haryana, investing in its subsidiary Oswal Solar, and prepayment/repayment of outstanding borrowings of Oswal Pumps and Oswal Solar.

Retail and HNIs lead IPO subscriptions as QIBs show low interest

Among SME IPOs, Jainik Power and Cables will be the first to list on June 17 on NSE SME. The aluminium cable maker’s Rs 51.3 crore IPO, entirely a fresh issue, was subscribed 1.5X. Its FY24 net profit surged 33X to Rs 5 crore, driven by inventory destocking and a 402% rise in revenue.

Monilithisch India, an electrodes manufacturer, will debut on June 19 on the NSE SME platform. It received 7.5X subscription overall, including a strong 13X in the retail category, the highest among this week’s listings. Aten Papers & Foam will follow with its listing on June 20 on the BSE SME platform. Its IPO was subscribed just 0.7X by the end of Day 1.