Mega IPO Market Ahead: SBI Funds Management, Alpine Texworld Lead Rs 10,000 Crore Rush
The Indian primary market is set for a highly demanding period starting July 13 as three significant Initial Public Offerings (IPOs) launch. These issues cumulatively amount to over ₹10,100 crore and present major opportunities across the mainboard and SME segments.The spotlight is on the SBI Funds Management IPO. This mega offering, promoted by State Bank of India and French asset manager Amundi, is raising a substantial ₹9,812.91 crore. It comprises 17.09 crore equity shares at the upper price band of ₹545-574 per share.
SBI Funds Management IPO Details Unveiled
The SBI Funds Management issue is an entirely offer for sale (OFS). Two promoter entities are selling their stakes: one will offload 9.95 crore equity shares, representing a 4.8851 percent stake. The second entity will sell 7.14 crore equity shares, which corresponds to a 3.5082 percent stake.The issue is entirely focused on the benefit of the selling shareholders. SBI Funds Management, valued at ₹1.17 lakh crore, will not receive any proceeds from this IPO; all funds generated will go directly to the selling promoters.
Mainboard Focus: Alpine Texworld and Industry Growth
Alongside the high-profile SBI issue, Gujarat-based textile company Alpine Texworld will debut. This second mainboard listing is a fresh issue raising ₹126.25 crore through 1.2 crore equity shares. The fixed price band for this IPO is ₹100-105 per share.Alpine Texworld values the company at ₹401.5 crore in this offering. The proceeds raised are earmarked for crucial business expansion, including setting up a new weaving unit (Manufacturing Unit 3). They will also be used to repay loans and meet general corporate purposes.
SME Segment Action: Millworks Technologies Launches Fresh Issue
In the SME segment, Millworks Technologies is set to launch on July 14. This company aims to raise ₹160.3 crore through an initial share sale of 48.44 lakh equity shares. The price band for this fresh issue is set at ₹315-331 per share.The Bengaluru-based precision engineering firm plans to deploy the net proceeds from the IPO towards purchasing necessary plant and machinery. Funds will also be used to meet working capital requirements and address general corporate needs.
Other Key Market Events and Closures
A few critical closing events are scheduled for July 13. The power transmission and distribution products manufacturer, Laser Power & Infra, has a ₹742-crore IPO that is set to close on this day after it was fully subscribed.Additionally, the SME IPOs of Devson Catalyst and Happy Steels will also close their bidding process on July 13. All three companies: Laser Power & Infra, Devson Catalyst, and Happy Steels are scheduled to debut on stock exchanges on July 16.
Grey Market Insights for Debuting Stocks
Market observers indicate that the shares of all three companies—Laser Power & Infra, Devson Catalyst, and Happy Steels—are trading at double-digit premiums in the grey market. Laser Power & Infra is reportedly commanding a premium of around 17 percent.Devson Catalyst, which manufactures catalysts, adsorbents, and ceramic balls for industrial processes, is quoting at approximately a 38 percent premium. Automotive components maker Happy Steels is observing a premium of roughly 21 percent in the grey market.
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