Investors planning to participate in initial public offerings (IPOs) are set for a busy week in India's primary market, with three new public issues opening for subscription from July 14. The offerings include two mainboard IPOs and one SME issue, collectively targeting to raise approximately ₹11,980 crore. SBI Funds Management will launch the largest issue of the week, while Alpine Texworld and Millworks Technologies will also enter the market with new offerings.
Millworks Technologies, an SME company, has reportedly attracted market attention with a Grey Market Premium (GMP) of more than 100%. However, investors should note that GMP is only an indicator of activity in the unofficial market and does not guarantee listing performance.
The largest IPO scheduled for next week is that of SBI Funds Management. The issue will open on July 14 and close on July 16. The company has fixed a price band of ₹545 to ₹574 per share, with each lot comprising 26 shares. Based on the upper end of the price band, retail investors will be required to invest approximately ₹14,924 for one lot.
The issue is primarily an Offer for Sale (OFS), through which the company plans to raise around ₹11,693 crore. According to market information, the Grey Market Premium is currently around 20%.
The second mainboard IPO is that of Alpine Texworld, a company engaged in the textile processing industry. The issue will also open on July 14 and close on July 16. The company has fixed a price band of ₹100 to ₹105 per share. Each lot consists of 142 shares, requiring an investment of approximately ₹14,910 per lot at the upper end of the price band.
The company's ₹126.25 crore IPO is entirely a fresh issue, meaning new shares will be issued. As per the proposed schedule, the company's shares may be listed on the BSE and NSE on July 21.
Millworks Technologies will also open its SME IPO for subscription on July 14, with the issue closing on July 16. The company has fixed a price band of ₹315 to ₹331 per share and aims to raise approximately ₹160.34 crore through the offering. The company's shares are proposed to be listed on the BSE SME platform.
Millworks Technologies' Grey Market Premium has emerged as a major point of discussion in the market. Available market indications suggest that the company's GMP is above 100%, drawing investor interest. However, market experts state that investment decisions should not be based solely on the Grey Market Premium.
