Seven High-Profile IPOs Hit Dalal Street as Market Gears Up for Next Week's Listings

Seven High-Profile IPOs Hit Dalal Street as Market Gears Up for Next Week's Listings​

The coming week, starting July 20, is poised to be highly active in the primary market. A total of seven Initial Public Offerings (IPOs) are set to hit exchanges, signaling a robust period of capital raising on Dalal Street. Furthermore, five companies are scheduled to make their public debut next week across various segments.

Key IPOs Set for Market Launch​

The upcoming listings include major players across infrastructure and manufacturing. The Cube Highways Trust InvIT is among the principal offerings. This Infrastructure Investment Trust (InvIT) will open on July 22, offering at a fixed price of Rs 151-152 per unit.

This particular InvIT operates a diversified portfolio of highway assets. It is raising Rs 5,000 crore through an Offer-For-Sale (OFS) by existing unitholders. This sale will convert the privately listed infrastructure investment trust into a public InvIT.

Three maiden IPOs are scheduled for July 23 and July 27. These include Indo-MIM, Lohia Corp, and Xtranet Technologies. Investors are being given visibility into these varied corporate profiles across engineering and IT solutions.

Precision Engineering and Tech Focus IPO Details​

Indo-MIM, a precision engineering components manufacturer from Bangalore, has launched its IPO. This offering combines a fresh issue of shares worth Rs 500 crore with an Offer-For-Sale component involving Green Meadows Investments, Anuradha Koduri, and the Indian Institute of Technology Madras.

The funds generated from the fresh issue are primarily allocated for loan repayment. The remaining amounts are designated for general corporate purposes within the company.

Xtranet Technologies, an IT solutions provider based in Bangalore, is raising Rs 170 crore through a fresh issue. This IPO has no OFS component and offers shares between Rs 120-127 per share at the upper end of the band. The proceeds are slated for working capital, system purchases, hardware acquisition, and loan repayment.

Kanpur-based Lohia Corp is also tapping the markets with an IPO consisting entirely of an Offer-For-Sale (OFS). The sale involves 2.59 crore equity shares by the Lohia family. As such, all IPO proceeds will be directed to the selling shareholders.

SME Segment Offers and Industrial Launches​

The Small and Medium Enterprise (SME) segment is seeing a flurry of specialized offerings. Gulf Lloyds India, an Ahmedabad-based certification provider, is offering at a fixed price of Rs 100 per share. This issue raises Rs 18.19 crore across 18.19 lakh shares.

The proceeds for Gulf Lloyds will be deployed for capital expenditure on office premises and repayment of unsecured loans. This SME listing begins on July 20, marking the start of this batch of offerings.

Metalic Technoforge, a manufacturer of precision-machined components from Gujarat, is set to open its IPO on July 21. The company is raising Rs 50 crore through a fresh issue of 64.88 lakh shares, with a price band of Rs 72-77 per share. These funds will be used for setting up Manufacturing Unit IV and loan repayment.

Other Notable Listings and Market Debuts​

The list of seven IPOs also includes Shree Balaji Mala Textiles from Kolkata. This maiden public issue is raising Rs 18.9 crore, comprising a fresh issue of 27 lakh shares with a price band set at Rs 66-70 per share. The company plans to use the proceeds for working capital and general corporate purposes.

Beyond these new launches, two other significant listings are upcoming next week. Sotefin Bharat, an automated parking solutions provider based in Kolkata, has an SME public issue open until July 20. It has already attracted an 81 percent subscription.

Caliber Mining & Logistics, a coal mining services provider from Maharashtra, is set to close its Rs 450-crore IPO on July 21 and is currently subscribed 1.21 times.

High Demand Signals and Stock Debuts​

The listing calendar for next week promises debuts with high interest across the board. SBI Funds Management, one of the country's largest asset managers, will make its debut on July 21 after closing its Rs 9,813-crore IPO last week. Textile firm Alpine Texworld and precision engineering company Millworks Technologies are also scheduled to list on the same day.

Subsequent debuts include Sotefin Bharat from the SME segment on July 23 and Caliber Mining & Logistics from the mainboard segment on July 24. Market observers noted varying grey market responses for these listings.

Millworks Technologies' IPO shares were trading at a massive 117 percent premium in the grey market. Caliber Mining commanded a strong 27 percent premium. SBI Funds Management showed around a 16 percent premium, while Sotefin Bharat traded near a 7 percent premium. Alpine Texworld experienced a more muted response among observers.