The primary market is witnessing renewed momentum, with the IPO pipeline gathering pace despite ongoing global uncertainty and geopolitical tensions.
However, Mohit Gulati, CIO and Managing Partner at ITI Growth Opportunities Fund, cautioned that the IPO market is showing signs of a real reopening, but this is still a more selective phase than a euphoric one. Investor appetite is clearly there for well-priced, quality businesses with credible earnings visibility, while the excesses of rewarding weak paper at any valuation appear to be behind us.
Talking about the upcoming IPOs in the pipeline, Lohia Corp IPO, Indo-MIM IPO, and Xtranet Technologies IPO are all set to open for public subscription on 23 July, offering investors three mainboard issues across the manufacturing, engineering, and technology sectors.
Lohia Corp IPO has fixed a price band of ₹404-425 per equity share for its ₹1,102-crore public issue. The IPO will open on 23 July and close on 27 July, while the anchor investor portion will open on 22 July. The issue is entirely an offer for sale (OFS) of up to 2.59 crore equity shares by existing shareholders, with the company not receiving any proceeds from the offering. At the upper end of the price band, Lohia Corp is valued at around ₹4,500 crore.
Indo-MIM IPO, one of the largest issues this week, has set a price band of ₹461-485 per share for its ₹3,812-crore offering. The Bengaluru-based precision engineering company is raising ₹500 crore through a fresh issue, while the remaining amount comprises an offer-for-sale of around 6.83 crore shares by existing shareholders, including Green Meadows Investments Ltd., Anuradha Koduri, and the Indian Institute of Technology Madras. At the upper price band, Indo-MIM is expected to be valued at nearly ₹24,000 crore.
Meanwhile, Xtranet Technologies IPO is a ₹170-crore fresh issue, with no OFS component, allowing the entire proceeds to flow to the company. The IT solutions provider plans to use the funds for debt repayment, purchase of systems and hardware, meeting working capital requirements, and general corporate purposes.
Established in 2002, Xtranet Technologies offers integrated IT solutions, including enterprise applications, digital transformation services, managed services, proprietary technology platforms, and strategic technology partnerships, serving a broad enterprise customer base across industries.
Let’s take a look at the issue details and grey market premium (GMP) trends for the upcoming IPOs:
Indo-MIM IPO GMP today
Indo-MIM IPO GMP today is +192. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Indo-MIM share was ₹677 apiece, which is 39.59% higher than the IPO price of ₹485.
According to recent grey market activity over the past five sessions, the GMP for the IPO is trending upward today, suggesting optimistic expectations for a successful listing. Throughout this timeframe, the GMP fluctuated between ₹168 and ₹213, as noted by analysts.
Xtranet Technologies IPO GMP today
Xtranet Technologies IPO GMP today is +20. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Xtranet Technologies share was ₹147 apiece, which is 15.75% higher than the IPO price of ₹127.
Based on grey market trends observed over the past six sessions, the current GMP of ₹20 indicates negative sentiment. Throughout this period, the GMP fluctuated between ₹18 and ₹26, according to expert analysis.
Lohia Corp IPO GMP today
Lohia Corp IPO GMP today is +36. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Lohia Corp share was ₹461 apiece, which is 8.47% higher than the IPO price of ₹425.
Considering the grey market movements over the past five sessions, the GMP of the IPO is showing an upward trend today, suggesting a positive outlook for the listing. Throughout this timeframe, the GMP fluctuated between ₹0.00 and ₹56, according to experts.
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.
