The market notched its third straight week of gains, with the Nifty 50 rising around 0.4%. The benchmark touched a new high of 26,325.8 before pulling back slightly on profit-booking. Market sentiment was supported by growing hopes for a US Fed rate cut in December, stable oil prices, and strong inflows from domestic investors.

Looking ahead, analysts expect the positive momentum to continue, thanks to stronger-than-expected Q2 GDP numbers. India’s GDP surged by 8.2%, sharply higher than the 5.6% from a year ago and beating market expectations. The growth was driven by stronger rural demand and higher government spending.

Vinod Nair, Head of Research at Geojit Investments, said, “The stronger-than-expected Q2 GDP print, driven by resilient manufacturing, solid construction activity, and healthy private consumption, is set to support sentiment in the near term.”

The primary market will be busy this week with 15 new issues, including 12 from the SME segment. Six companies are also set to list on the exchanges, following three debuts last week.

Three new companies made their debut last week

Excelsoft Technologies and Sudeep Pharma headlined last week’s major listings. 

Excelsoft Technologies, an AI-powered software company for education, made its market debut on November 26 at a 12.5% premium. However, it has since slipped and is now trading 9.8% below its issue price of Rs 120.

Sudeep Pharma had a strong debut, opening at a 23.1% premium to its issue price of Rs 593. The company, which makes specialty ingredients for the pharma and food sectors, saw its IPO oversubscribed 93.7X. It currently trades 22.8% above its issue price.

Sudeep Pharma gains post-listing, Excelsoft down

SME firm Gallard Steel also listed last week.

In the SME space, Gallard Steel also listed last week. The steel castings maker had an impressive debut on November 26, opening at a 48.7% premium after its IPO saw massive demand, getting subscribed 349.4X. It is currently trading 48% above its issue price.

SME segment dominates this week's listings 

SSMD Agrotech makes agro-food products under the "House of Manohar" brand. The Rs 34.1 crore IPO received bids for 1.7X the shares on offer and is scheduled to list on December 2.

Mother Nutri Foods, a B2B peanut butter manufacturer, is set for listing on December 3 after its IPO was subscribed 14.4X. The IPO witnessed strong demand from the HNI segment at 44.9X.

K K Silk Mills manufactures fabrics and garments, with a product range covering kids', men's, and women's wear. The Rs 28.5 crore IPO received bids for 5.4X the shares offered and will also list on December 3. 

Exato Tech and Mother Nutri see strong HNI demand; others trail far behind

Logiciel Solutions delivers end-to-end custom software development and technology solutions to startups and enterprises globally. The Rs 39.9 crore IPO will close on December 2, with the listing scheduled for December 5, and has received bids for 1.4X the shares on offer as on day 1.

Purple Wave Infocom specialises in digital professional audio-video PRO AV equipment and cloud-based content/live streaming solutions. The company is set to list on December 5.

Exato Technologies provides technology solutions to improve customer engagement and operational efficiency. The Rs 37.5 crore IPO will also debut on the bourses on December 5.

Mainline IPOs return, SME momentum continues

Meesho is an e-commerce platform connecting consumers, sellers, logistics partners, and content creators, offering affordable products to buyers and a low-cost growth channel for sellers. The company plans to raise Rs 5,421.2 crore, with a price band of Rs 105-111. The IPO will open for subscription on December 3, close on December 5, with the listing scheduled for December 10. The offer consists of a fresh issue worth Rs 4,250 crore and an offer for sale worth Rs 1,171.2.

Aequs operates a special economic zone in India focused on manufacturing for the aerospace sector. The company aims to raise Rs 921.8 crore, with a price band of Rs 118-124. The IPO will be open from December 3 to December 5, with the listing scheduled for December 10. The offer includes a fresh issue worth Rs 670 crore and an offer for sale worth Rs 251.8 crore.

Vidya Wires manufactures copper and aluminum wires used across energy generation, electrical systems, e-mobility, railways, and clean energy applications. The company plans to raise Rs 300 crore at a price band of Rs 48-52. Its IPO will also open on December 3, close on December 5 and will list on December 10. The offer comprises a fresh issue of Rs 274 crore and an offer for sale of Rs 26 crore.

Meesho and Aequs post losses in FY25, Vidya Wires sees strong profit growth

The SME segment keeps the action going with 12 new IPOs opening for subscription this week.

• Speb Adhesives, a synthetic rubber adhesives maker, opened its Rs 33.7 crore IPO on December 1. The issue will close on December 3 and will list on December 8.
• Invicta Diagnostic, a radiology and pathology solutions provider, and facility management firm Clear Secured Services also opened for subscription on December 1. The IPOs will close on December 3, with their listings scheduled for December 8. The issue sizes of these IPOs are Rs 28.1 crore and Rs 85.6 crore, respectively.
• Ravelcare is a digital-first beauty and personal care brand offering personalised hair, skin, body, and scalp care products. Its Rs 24.1 crore IPO also opened on December 1, will close on December 3, and will list on December 8.
• Astron Multigrain, which makes instant noodles, will be open from December 1 to 3 and list on December 8.
• Specialty performance chemicals player Neochem Bio Solutions and customised holiday packages and travel solutions provider Helloji Holidays will open for subscription on December 2, close on December 4, and will list on December 9. 
• Shri Kanha Stainless, a precision stainless steel cold-rolled strips maker, will open its Rs 46.3 crore IPO on December 3, close on December 5, and will list on December 10. 
• Luxury Time, a Swiss luxury watch retailer and distributor, and educational and immigration advisory services company, Western Overseas Study Abroad, will be open between December 4-8, and will list on December 11. 
• IT services provider Methodhub Software and Encompass Design India, or ScaleSauce, a brand building platform, will open for subscription on December  5, close on December 9, and will list on December 12.