India's primary market is set for a busy week, with nine IPOs opening for subscription across the mainboard and SME segments. The mainboard space will see three issues from Manipal Health Enterprises, Juniper Green Energy and MV Electrosystems, while six companies will tap the SME platform. The mainboard IPOs alone are expected to raise more than Rs 11,300 crore, led by Manipal Health Enterprises' Rs 9,275 crore issue.
The IPO calendar shows strong activity across healthcare, renewable energy and electrical systems, while the SME segment will bring offerings from engineering, packaging, hygiene products, education technology and events companies.
Among the companies, Poojaa Precision has the highest GMP of over 80% above the issue price. Manipal Health is commanding a GMP of 4%.
Manipal Health biggest issue of the week
Manipal Health Enterprises will open its IPO on July 29 and close on July 31. The company has fixed a price band of Rs 560-590 per share. The IPO size stands at Rs 9,275 crore, making it the largest issue opening next week. The offer includes a fresh issue of Rs 8,000 crore and an offer for sale of Rs 1,275.22 crore. The shares are proposed to be listed on the BSE and NSE.
Kotak Mahindra Capital is the left lead manager to the issue.
The IPO will be closely watched because of its size and sector. Hospital and healthcare companies have remained in focus as investors track rising healthcare demand, higher insurance penetration and growth in organised hospital chains. Manipal Health’s issue will also test institutional appetite for a large healthcare offering at a time when the broader IPO market remains active.
Juniper Green, MV Electrosystems, opens on July 30
Juniper Green Energy will open its IPO on July 30 and close on August 3. The company plans to raise Rs 1,800 crore through a fresh issue. There is no offer-for-sale component in the data provided. The shares are proposed to be listed on the BSE and NSE. ICICI Securities is the left lead manager.
Juniper Green will come to the market at a time when renewable energy remains one of the strongest investment themes in India. Investors are tracking companies linked to green power, energy transition, storage, transmission and rising electricity demand. The issue will show how much demand exists for a pure renewable energy offering in the primary market.
MV Electrosystems will also open its IPO on July 30 and close on August 3. The issue size is Rs 290 crore, entirely through a fresh issue. The company is proposed to be listed on the BSE and NSE.
Sundae Capital is the left lead manager to the IPO.
The MV Electrosystems issue is smaller than the Manipal Health and Juniper Green offerings, but it adds to a busy mainboard week. Electrical and power-linked businesses have drawn investor attention this year as the market continues to look for companies connected to power infrastructure, industrial capex and digital infrastructure demand.
Together, the three mainboard IPOs will dominate investor attention next week. Manipal Health brings scale, Juniper Green brings the renewable energy theme, and MV Electrosystems offers exposure to the electrosystems space.
6 SME IPOs also lined up
The SME segment will also stay active, with six IPOs opening next week. Advance Technoforge and Propshop Events & Exhibitions will both open on July 27 and close on July 29.
Advance Technoforge is a fixed-price issue at Rs 95 per share. The IPO size is Rs 24.03 crore, including fresh capital of Rs 22.80 crore. The company will list on BSE SME.
Propshop Events and Exhibitions has fixed a price band of Rs 65-69 per share. The total issue size is Rs 28.57 crore, including fresh capital of Rs 21.56 crore and an offer for sale of Rs 5.52 crore. The shares will list on NSE SME.
Poojaa Precision Engg. will open on July 28 and close on July 30. The price band is Rs 285-301 per share. The IPO size is Rs 159.83 crore, with fresh capital of Rs 151.82 crore. It will list on BSE SME.
HR Hygiene Products will open on July 29 and close on July 31. The price band is Rs 83-88 per share. The total issue size is Rs 53.95 crore, including fresh capital of Rs 40.44 crore and an offer for sale of Rs 10.79 crore. The company will list on BSE SME.
Dhaval Packaging will open on July 30 and close on August 3. The price band is Rs 92-97 per share. The issue size is Rs 36.36 crore, with fresh capital of Rs 34.54 crore. It will list on BSE SME.
Fusion Klassroom Edutech will open on July 31 and close on August 4. The price band is Rs 151-159 per share. The issue size is Rs 39.04 crore, including fresh capital of Rs 29.67 crore and an offer for sale of Rs 7.41 crore. The shares will list on BSE SME.
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