India’s primary market is set for another busy week, with fresh initial public offerings (IPOs), new draft filings and regulatory approvals keeping investors occupied.
In the upcoming week, one mainboard issue is opening for subscription. Apart from this, two small and medium enterprise (SME) public issues will also hit the market.
At the same time, several companies have moved a step closer to listing by filing draft papers with the market regulator Securities and Exchange Board of India (SEBI) or receiving the regulator’s approval.
Here’s a look at the key developments investors should keep on their radar –
IPOs opening for subscription next week
The biggest public issue next week is Kusumgar, whose Rs 650-crore IPO will open for bidding between July 8-10.
This is a mainboard IPO.
The issue is entirely an offer for sale (OFS) of 1.55 crore shares by existing promoters. This means that the company itself will not receive any proceeds from the IPO. The price band has been fixed at Rs 398-419 per share, while investors can bid in lots of 35 shares.
Kusumgar manufactures engineered fabrics, including woven, coated and laminated synthetic fabrics used across industries such as aerospace, defence, automobiles, industrial applications and outdoor products.
Another issue opening next week is Devson Catalyst, an SME IPO scheduled between July 9-13. The company plans to raise Rs 42.34 crore through a combination of a fresh issue worth Rs 39.39 crore and an OFS of Rs 2.95 crore. The price band has been fixed at Rs 112-118 per share.
According to the company, the fresh issue proceeds will be used to establish a new manufacturing unit, meet working capital requirements and support general corporate purposes.
Also entering the market is Happy Steels, whose Rs 25-crore SME IPO will remain open from July 9-13. The issue consists entirely of a fresh issue of shares priced between Rs 62 – 66 apiece. The company plans to utilise the funds for purchasing additional machinery, repaying debt and meeting general corporate requirements.
Companies moving closer to an IPO
Several companies also took important steps towards launching their public offerings by filing draft documents with SEBI.
Transformer manufacturer TMC Transformers (India) filed draft papers for a proposed IPO comprising a fresh issue of up to Rs 550 crore. The company may also undertake a pre-IPO placement of up to Rs 110 crore before the public issue.
Disposable hygiene products manufacturer Swara Baby has also filed its Draft Red Herring Prospectus (DRHP). Its proposed IPO consists of a fresh issue worth Rs 500 crore along with an offer for sale worth another Rs 500 crore, taking the total issue size to Rs 1,000 crore.
Digital lending platform Social Worth Technologies, which operates under the Fibe brand, has also filed draft papers for an IPO comprising a Rs 750-crore fresh issue and an offer for sale of over 4 crore equity shares. The company plans to use part of the proceeds to strengthen the capital base of its lending subsidiary and support future lending requirements.
Meanwhile, logistics company Pristine Logistics & Infraprojects has confidentially filed its draft papers with SEBI under the regulator’s pre-filing route.
Global hospitality technology company Prism, the parent of OYO, has also submitted its updated draft prospectus for a proposed Rs 6,650-crore fresh issue, with no offer for sale by existing shareholders. The company may also raise up to Rs 1,330 crore through a pre-IPO placement before launching the issue.
Pragyawan Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The issue consists of a fresh issue of shares worth up to Rs 400 crore and an offer for sale (OFS) of up to 1.5 crore equity shares with a face value of Rs 2 each.
The company plans to use the funds raised from the fresh issue mainly to meet its working capital requirements, with the remaining amount to be used for general corporate purposes.
SEBI clears more companies for listing
Regulatory approvals also continued during the week. Kanohar Electricals and Torrent Gas have received SEBI’s final approval to launch their IPOs.
Kanohar Electricals’ proposed issue includes a fresh issue of Rs 300 crore along with an offer for sale by the promoter. According to the company, a significant portion of the fresh issue proceeds will be used to meet working capital requirements, while the remaining amount will be allocated towards general corporate purposes.
With multiple IPOs opening, fresh draft filings and regulatory approvals coming in together, activity in the primary market is expected to remain busy in the coming weeks as more companies prepare to tap public investors.
Disclaimer: Investment in the primary market, including initial public offerings (IPOs) and Small and Medium Enterprise (SME) issues, involves a high degree of risk and market volatility. SME public issues, in particular, may carry higher liquidity and structural risks compared to mainboard listings and are generally suitable for sophisticated investors. This compilation of upcoming public issues, draft filings, and regulatory updates is for informational purposes only and does not constitute financial advice, an offer, or a solicitation to subscribe to any security. Readers are strongly advised to review the respective Red Herring Prospectuses (RHP) carefully and consult a SEBI-registered investment advisor before making any investment decisions. This disclaimer has been generated using AI to support user well-being and responsible content consumption.
