The primary market is set for another busy week, with a mix of large mainboard IPOs, SME offerings, expected listings and fresh companies moving closer to the stock market after receiving approvals from the Securities and Exchange Board of India (SEBI).
The biggest attraction will undoubtedly be the Rs 11,692.91 crore IPO of SBI Funds Management, one of the largest public issues of the year.
Alongside it, investors will also have Alpine Texworld and SME player Millworks Technologies to evaluate.
On the listing front, several recently launched issues are expected to make their market debut, while a fresh batch of companies has secured SEBI’s nod to launch their public offerings in the coming months.
Here’s a look at everything investors should keep on their radar.
IPOs opening next week
| Company | Issue opens | Issue closes | Type |
| SBI Funds Management | July 14, 2026 | July 16 | Mainboard |
| Alpine Texworld | July 14, 2026 | July 16 | Mainboard |
| Millworks Technologies | July 14, 2026 | July 16 | SME |
SBI Funds Management IPO takes centre stage
The biggest event of the week will be the public issue of SBI Funds Management, the country’s largest asset management company based on quarterly average assets under management.
The IPO will open for subscription on July 14 and close on July 16. The company has fixed the price band at Rs 545-574 per share.
The issue is entirely an Offer for Sale (OFS), with promoters State Bank of India and Amundi India Holding selling a combined 20.37 crore equity shares. Since there is no fresh issue, the proceeds from the IPO will go to the selling shareholders and not to the company.
The allotment of shares for the SBI Funds Management IPO is expected to be finalised on July 17, while the company’s shares are tentatively scheduled to list on the stock exchanges on July 21.
Retail investors can apply in lots of 26 shares. Half of the issue has been reserved for Qualified Institutional Buyers (QIBs), while 35% is earmarked for retail investors and the remaining 15% for Non-Institutional Investors (NIIs).
Alpine Texworld
Textile manufacturer Alpine Texworld will also enter the primary market during the same period.
The company plans to raise Rs 126.25 crore through a fresh issue of shares. The proceeds will primarily be used to establish a new weaving unit, repay borrowings and meet general corporate requirements.
The IPO has been priced in the range of Rs 100-105 per share, with one lot comprising 142 shares.
The Ahmedabad-based textile company reported strong growth in FY26, with revenue and profit both rising sharply compared to the previous financial year.
Millworks Technologies enters SME platform
On the SME platform, Millworks Technologies will open its Rs 160.34 crore IPO between July 14 and July 16.
The engineering company manufactures precision components used across aerospace, defence, railways, metro systems, drones and semiconductor industries.
Funds raised from the issue will be utilised for purchasing new machinery, meeting working capital requirements and other business needs.
Companies scheduled to list
Apart from new IPOs, investors will also closely watch several companies expected to debut on the stock exchanges this week.
| Company | Listing Date |
| Kusumgar | July 15, 2026 |
| Laser Power & Infra | July 16, 2026 |
| Devson Catalyst | July 16, 2026 |
| Happy Steels | July 16, 2026 |
New SEBI approvals keep IPO pipeline active
The IPO pipeline is in the spotlight after several companies recently received observations from SEBI.
Zetwerk Manufacturing Business
Among the biggest names to receive SEBI’s approval is Zetwerk Manufacturing Business.
The company operates a technology-enabled manufacturing platform that connects industrial demand with a large network of suppliers and manufacturing facilities. Its business caters to sectors such as energy, electronics, aerospace, defence and capital goods.
The proposed IPO will comprise a mix of a fresh issue of equity shares and an Offer for Sale (OFS) by existing shareholders. The final issue size and valuation will be decided through the book-building process.
Zetwerk counts several marquee investors among its shareholders, including Khosla Ventures, Baillie Gifford, Accel, Peak XV, Lightspeed, GreenOak and Rakesh Gangwal.
Tonbo Imaging
Another company that recently secured SEBI’s approval is Tonbo Imaging, a global defence electronics original equipment manufacturer (OEM).
The proposed IPO is entirely an Offer for Sale of up to 1.81 crore equity shares, with shares being sold by promoters, promoter group entities and existing investor shareholders.
Tonbo designs, develops and manufactures International Traffic in Arms Regulations (ITAR)-free advanced sensing, communication, guidance and surveillance systems used across defence applications. The company is also expanding beyond standalone tactical products into integrated autonomous platform solutions by combining multiple hardware and software technologies for battlefield deployment.
Its investor base includes Qualcomm Ventures, Artiman, Edelweiss Value, Celesta Capital II LP, HBL Engineering, Tenacity Ventures, India Exim Bank and Florintree.
Gujarat Victory Forgings
Gujarat Victory Forgings has also received SEBI observations for its proposed IPO after filing its draft papers earlier this year.
The public issue comprises a fresh issue of up to 65 lakh equity shares and an Offer for Sale of up to 1.32 crore equity shares.
The company plans to utilise the proceeds from the fresh issue to expand its existing manufacturing facility in Vadodara by increasing copper cathode production capacity. A part of the proceeds will also be used for repayment of certain borrowings, while the remaining amount will be allocated towards general corporate purposes.
