India’s primary market continues to witness strong momentum, with several companies tapping investors across sectors ranging from technology and textiles to packaging.
While ongoing issues such as CSM Technologies remain open for subscription, a fresh batch of IPOs, including Knack Packaging and Aastha Spintex, is set to hit the market next week, reflecting sustained fundraising activity despite intermittent volatility in the secondary market.
The healthy pipeline also comes as companies continue to receive regulatory approvals, and investor appetite for quality public offerings remains intact.
Let’s take a look at the issue details and grey market premium (GMP) trends for the upcoming IPOs:
CSM Technologies IPO GMP today
CSM Technologies IPO GMP today is +4. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the CSM Technologies share was ₹117 apiece, which is 3.54% higher than the IPO price of ₹113.
Based on the recent nine sessions of grey market activity, today’s IPO GMP shows an upward trend, indicating a likely strong listing. The minimum GMP recorded is ₹0.00, while the maximum GMP is ₹4, as per expert opinions.
The ₹145.78-crore initial public offering (IPO) of IT solutions provider CSM Technologies was subscribed 66% by the second day of bidding on Thursday, 25 June. The issue, priced in the range of ₹107-113 per share, will close on 29 June. Trading remained suspended on Friday, 26 June, due to the Muharram holiday.
The company plans to utilise the proceeds from the fresh issue to fund working capital requirements, repay debt, and support inorganic growth initiatives.
Aastha Spintex IPO GMP today
Aastha Spintex IPO GMP today is +4.75. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Aastha Spintex share was ₹140.75 apiece, which is 3.49% higher than the IPO price of ₹136.
Based on grey market activity over the last 17 sessions, today’s IPO GMP is trending upward, indicating a robust listing. The minimum GMP recorded is ₹0.00, while the maximum is ₹4.75, according to analysts.
Textile manufacturer Aastha Spintex will open its ₹170-crore IPO on Monday, 29 June. The public issue, priced at ₹125-136 per share, will remain open for subscription until Wednesday, 1 July.
The company intends to utilise the IPO proceeds towards a part payment for the acquisition of Falcon Yarns Pvt. Ltd., fund the acquired entity’s working capital requirements through inter-corporate deposits, and meet general corporate purposes.
Knack Packaging IPO GMP today
Knack Packaging IPO GMP today is +11.5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Knack Packaging share was ₹181.5 apiece, which is 6.76% higher than the IPO price of ₹170.
Packaging solutions provider Knack Packaging will launch its ₹439.5-crore IPO for public subscription on Wednesday, 1 July.
The issue comprises a fresh issue of equity shares worth ₹380 crore and an offer-for-sale (OFS) of up to 35 lakh shares aggregating to ₹59.5 crore by existing shareholders. The price band has been fixed at ₹161-170 per share, valuing the company at around ₹2,080 crore at the upper end.
The public issue will close on Friday, 3 July, while the anchor investor portion will open for bidding on Tuesday, 30 June.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
