IPO

The IPO calendar remains busy, with nine companies set to make their market debut this week and seven fresh issues opening for subscription. This follows nine listings across the mainboard, SME and InvIT segments last week.

Juniper enters the listed space at the peak of a multi-year execution cycle, with 3.4x its operational capacity currently under construction. Since commissioning its first project in March 2020, the company has scaled to 1,795 MW (Jun-2026) while maintaining an average commissioning lead of 147 days.

IPO Note

IPO Note

Manipal Health Enterprises Limited (Manipal Hospitals) operates a pan-India network of multispecialty hospitals delivering the full spectrum of care, from outpatient consultations to complex tertiary and quaternary interventions.

IPO Note

India's largest multi-specialty hospital by bed capacity- Manipal is the largest pan-India multispecialty hospital network by bed capacity having 13,037 beds as of March 31, 2026. For Fiscal 2026, it reported the secondhighest revenue from operations of 10,335.75 crore (10,935.61 crore on a pro forma basis) among private hospital chains in India, (All sources: CRISIL Report). It will further add 2,426 beds in the next 4-5 years. Manipal will continue to pursue select acquisitions to enter new markets and consolidate positions in existing ones, leveraging their track record of integration and operational turnaround. It will continue to follow their...

Manipal Health has transitioned from an acquisition-led expansion strategy to a capacity-led growth phase, with the next leg of growth expected to be driven by the timely execution of its ~2,426-bed expansion pipeline through greenfield and brownfield projects.

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.

IPO Note

IPO Note

IPO Note

It is the largest manufacturer globally in this domain with a market share pegged at 6.8% as of CY25 and have held this position for last 6 years. Revenue mix as of FY26 25% Automotive, 19% Defence, 18% Medical,...

The primary market is set to gain momentum this week, as five companies prepare to make their stock market debut and eight IPOs line up for subscription, following four listings last week.

Valuation: Caliber Mining & Logistics has delivered a strong financial performance, reporting a Revenue/EBITDA/PAT CAGR of 32.7%/33.1%/30.6% during FY24–26.

SBI Funds Management Limited (SBIFML) is India's largest asset management company by mutual fund QAAUM, with a 15.4% market share as of Dec 2025, and the largest by total AUM across mutual funds, PMS, AIF, and SIF at approximately INR 29.0 lakh crore as of Dec 2025.

Primary market activity is expected to be moderate this week after eight IPOs listed last week. Four companies are scheduled to make their market debut, while four issues are lined up for subscription.

We attended the IPO meeting of Laser Power & Infrastructure, one of the leading manufacturers of power cables, conductors, and specialty products with integrated EPC capabilities, primarily serving India's power transmission and distribution sector.

The primary market remains busy this week, as four new issues open for subscription. Meanwhile, eight companies are set to make their exchange debut, following nine listings last week.

IPO Note