The Nifty 50 closed higher on July 27, rebounding after five straight sessions of losses, as a sharp fall in crude oil prices and optimism around corporate earnings lifted investor sentiment.

The recovery came after the US and Iran paused attacks over the weekend, easing immediate concerns over a wider conflict in West Asia. Brent crude oil prices fell to near $85 per barrel after crossing the $100 mark last week, easing inflation concerns.

Investors will track the US Federal Reserve’s policy decision, US GDP and inflation data, crude oil prices, rupee movement, foreign investor activity and India’s June IIP data.

Ajit Mishra, SVP, Research at Religare Broking, said, “Developments surrounding the US-Iran conflict, shipping activity through the Strait of Hormuz, and movements in crude oil prices will remain key drivers of global risk sentiment.”

The primary market remains active this week, with three mainboard IPOs, one InvIT and three SME issues set to list, while three mainboard and eight SME IPOs open for subscription, following six market debuts last week.

Millworks leads six IPO debuts with a 90% listing premium

SBI Funds Management, India's largest asset management company, made a positive debut on July 21. The Rs 9,813 crore IPO was subscribed 41.7x and listed at around a 6.8% premium to its issue price of Rs 574. Since the offering was entirely an offer for sale (OFS), the company did not receive any proceeds from the issue. The stock is currently trading 1.6% above its issue price.

Alpine Texworld, an Ahmedabad-based textile manufacturer, made a flat debut on July 21. The Rs 126.3 crore IPO was subscribed 1.4x and listed at its issue price of Rs 105. The company plans to use the proceeds from the issue to set up a new weaving unit. The stock is currently trading 22.6% below its issue price.

Caliber Mining and Logistics, a coal mining and logistics service provider, made a strong debut on July 24. The Rs 450 crore IPO was subscribed 146.6x and listed at an 18% premium to its issue price of Rs 424. The company plans to use the fresh issue proceeds for capital expenditure on commercial vehicles, plant and machinery. The stock is currently trading 34.6% above its issue price.

Caliber Mining surges while Alpine slips below the issue price

Three SME IPOs also entered the market last week.

Millworks Technologies, a precision engineering company, delivered a stellar debut on July 21. The Rs 160.3 crore IPO was subscribed 193.2x and listed at a 90% premium to its issue price of Rs 331. The company plans to use the proceeds to purchase new plant and machinery. The stock is currently trading 139.3% above its issue price.

Sotefin Bharat, a parking solutions provider, made a positive debut on July 23. The Rs 89.8 crore IPO was subscribed 3.8x and listed at a 9.6% premium to its issue price of Rs 187. The company plans to use the proceeds to set up a new manufacturing facility in Kolkata. The stock is currently trading around 8.7% above its issue price.

Gulf Lloyds, a third-party inspection, testing, auditing and certification services provider, made a flat debut on July 27. The Rs 18.2 crore IPO was subscribed 10.3x and listed at its issue price of Rs 100. The company plans to use the capital to expand its office premises. The stock is currently trading 5% below its issue price after hitting the lower circuit.

Millworks stands out among six new market entrants

INDO-MIM, a Bengaluru-based precision engineering components manufacturer, opened its Rs 3,812.1 crore IPO for subscription on July 23 and closed on July 27. As of the final day, the issue saw a strong response with an overall subscription of around 70.8x. The shares will list on July 30.

Xtranet Technologies, an IT solutions and enterprise applications provider, opened its Rs 166.8 crore IPO for subscription on July 23 and closed on July 27. As of the final day, the issue saw steady investor interest with an overall subscription of 11.3x. The company plans to use the proceeds for systems and hardware expenditure. The shares will list on July 30.

Lohia Corp, a manufacturer of textile machinery, opened its Rs 1,102.1 crore IPO for subscription on July 23 and closed on July 27. By the close, the issue saw a muted response with an overall subscription of 4.8x. Since the offering consists entirely of an offer for sale (OFS), the company will not receive any funds. The shares will list on July 30.

Cube Highways Trust, an infrastructure investment trust (InvIT), opened its Rs 5,000 crore public issue for subscription on July 22 and closed on July 24. The issue saw healthy demand, closing with an overall subscription of 9.3x. Since the offering consists entirely of an OFS, the trust will not receive any funds. The units will list on July 31.

Institutions crowd into INDO-MIM

Three SME issues are also set to debut.

Metalic Technoforge, a precision-engineered forged and machined metal components manufacturer, opened its Rs 50 crore IPO for subscription on July 21 and closed on July 23. The issue saw healthy investor demand, closing with an overall subscription of 8x. The company plans to use the proceeds to set up a new manufacturing unit and upgrade its existing facilities. The shares will list on July 28.

Shree Balaji (Mala) Textiles, a West Bengal-based manufacturer and distributor of cotton sarees, opened its Rs 18.9 crore IPO for subscription on July 22 and closed on July 24. The issue saw exceptional demand, closing with an overall subscription of 186.3x. The shares will list on July 29.

Silverstorm Parks and Resorts, an amusement park and tourism company, opened its Rs 82.4 crore IPO for subscription on July 24 and will close on July 28. As of the second day, the issue saw a weak response with an overall subscription of 0.8x. The company plans to use the proceeds to set up a new snow park in Lucknow and expand its Athirappilly Theme Park. The shares will list on July 31.

Rs 9,275 crore Manipal Health issue leads the upcoming calendar

Manipal Health Enterprises, a hospital network and healthcare service provider, will open its Rs 9,275.2 crore IPO for subscription from July 29 to July 31. The price band is set at Rs 560–590 per share. The company plans to use the fresh proceeds mainly to repay debt and fund the acquisition of a minority stake in Sahyadri Hospitals. The stock will list on August 5.

Juniper Green Energy, a renewable energy power producer, will launch its Rs 1,800 crore IPO for subscription from July 30 to August 3. The price band is set at Rs 214–225 per share. The issue consists entirely of a fresh equity issue of 8 crore shares. The company plans to use the capital to invest in its subsidiaries for solar, wind and hybrid power projects. The stock will list on August 6.

MV Electrosystems, an electrical and power electronics equipment manufacturer, will open its Rs 290 crore IPO for subscription from July 30 to August 3. The price band is set at Rs 400–425 per share. The company plans to use the proceeds for research and development (R&D) for new power electronic equipment. The stock will list on August 6.

Juniper Green reports the highest revenue growth

Eight SME IPOs are also lined up.

• Propshop Events and Exhibitions, an exhibition and trade show solutions provider, will launch its Rs 28.6 crore IPO from July 27 to July 29. The price band is set at Rs 65–69 per share. The shares will list on August 3.
• Advance Technoforge, a precision machine components manufacturer, will open its Rs 24 crore IPO from July 27 to July 29. The offering is a fixed-price issue set at Rs 95 per share. The company plans to use the capital for new machinery. The shares will list on August 3.
• Poojaa Precision Engg, an aluminium die-casting and machined-components manufacturer, will launch its Rs 159.8 crore IPO from July 28 to July 30. The company plans to use the capital for setting up a new manufacturing facility in Pune. The shares will list on August 4.
• H. R. Hygiene Products, a manufacturer of hygiene and personal care products, will open its Rs 54 crore IPO from July 29 to July 31. The price band is set at Rs 83–88 per share. The shares will list on August 5.
• Dhaval Packaging, a plastic packaging solutions provider, will launch its Rs 36.4 crore IPO from July 30 to August 3. The price band is set at Rs 92–97 per share. The offering is entirely a fresh issue. The shares will list on August 6.
• Oneindig Technologies, a solar energy solutions provider, will open its Rs 27.7 crore IPO from July 30 to August 3. The issue price is set at Rs 91-96 per share. The shares will list on August 6.
• Fusion Klassroom Edutech, an edtech firm, will open its Rs 39 crore IPO for subscription from July 31 to August 4. The offering is a combination of a fresh issue and an OFS. The shares will list on August 7.
• G V Electricals, an electrical operations and maintenance service provider, will launch its Rs 42.3 crore IPO from July 31 to August 4. The company plans to use the funds for business expansion. The shares will list on August 7.