SBI Funds Management Leads ₹9,900 Crore Indian IPO Week
Five new listings, headlined by a nearly ₹10,000 crore offering from SBI Funds Management, will test sustained investor appetite in India's active primary market.
Five Indian companies are set to launch initial public offerings this week, headlined by SBI Funds Management's ₹9,812.91 crore issue. The five deals collectively aim to raise approximately ₹9,900 crore across the mainboard and small and medium enterprise segments.
SBI Funds Management will open for subscription on July 14 and close on July 16. The offering is entirely an offer for sale of 17.10 crore equity shares, priced in a band of ₹545 to ₹574. Retail investors must apply for a minimum of one lot consisting of 26 shares, requiring a minimum investment of ₹14,924 at the upper price limit.
Alpine Texworld will launch its mainboard offering during the same July 14 to 16 window. The company's ₹126.25 crore book-built issue differs from SBI Funds by consisting entirely of a fresh issue of 1.20 crore equity shares. It has fixed its price band at ₹100 to ₹105 per share, with investors bidding in lots of 142 shares.
The SME segment features Millworks Technologies, which aims to raise ₹160.34 crore through a completely fresh issue of 0.48 crore equity shares. Millworks has fixed its band at ₹315 to ₹331 per share. However, retail participation requires a substantially higher capital commitment of ₹2,64,800, as investors must bid for a minimum of two lots comprising 800 shares total.
Rounding out the week's activity, three additional listings are scheduled. Kusumgar will make its mainboard debut on both the NSE and BSE on July 15. The following day, July 16, will see the SME listings of Devson Catalyst on the BSE SME platform and Happy Steels on the NSE SME platform.
The arrival of a near-₹10,000 crore week highlights the sustained momentum in India's primary market. For market professionals, the mix of pure offer-for-sale exits and fresh capital raises presents distinct valuation metrics. The heavy OFS component in the week's largest deal signals that major stakeholders are seizing on current market liquidity to realize value.
