The primary market witnessed robust momentum as 20 companies filed their Draft Red Herring Prospectus (DRHP) with SEBI between 28 June and 1 July 2026. These filings span diverse sectors including agritech, digital lending, mobility, data analytics, renewable energy, and infrastructure. According to recent reports, the wave demonstrates continued investor interest in various business segments across India's capital markets, with notable additions including GNI Infrastructure, Pragyawan Technologies, Functional & Innovative Foods, Social Worth Technologies, Maan Fleet Partners, and Innoterra. The upcoming week will see four new IPOs from Kusumgar, Laser Power & Infra, Happy Steels and Devson Catalyst open between July 8 and July 13. As per latest reports, Kusumgar IPO and Laser Power & Infra IPO are among the mainboard IPOs to open next week, collectively raising over ₹1,392 crore. Meanwhile, in the small and medium enterprise (SME), Happy Steels IPO and Devson Catalyst IPO will collectively raise up to ₹67.34 crore. The coming week will also see a busy listing calendar, with two mainboard and seven SME companies scheduled to make their stock market debuts. However, the IPO market is expected to remain subdued this week, with activity set to gather pace later in the month, with seven to eight public issues likely to hit the market.
The ₹650 crore book-built issue of engineered fabric and technical textile maker Kusumgar Ltd will be open for subscription from July 8 to July 10, 2026. The IPO is solely an offer for sale of 1.55 crore shares by promoters Siddharth Yogesh Kusumgar, Siddharth Yogesh Kusumgar HUF and Sapna Siddharth Kusumgar. With a price band of ₹398 to ₹419 per share, a lot consists of 35 shares. The Mumbai-based company manufactures woven, coated and laminated synthetic fabrics used in aerospace and defence, industrial and automotive, and outdoor and lifestyle segments. The company expects listing will enhance visibility, brand and provide liquidity to existing shareholders. In the grey market, Kusumgar's shares are already commanding a GMP of ₹175 as of July 5, indicating strong investor interest ahead of the public offering. This translates to a potential listing gain of nearly 41.77% if the premium sustains until listing. The shares are proposed to be listed on both BSE and NSE, with a tentative listing date of July 15. The minimum bid size for retail investors is 35 shares, requiring a minimum investment of ₹14,665 at the upper price band. Axis Capital is acting as the book-running lead manager, while Bigshare Services has been appointed as the registrar to the issue.
Kolkata-based Laser Power & Infra Ltd (LPIL), an integrated manufacturer of power cables, conductors and specialised products for the power transmission and distribution industry, will launch its ₹742 crore initial public offering on July 9. The issue will close on July 13, 2026. The IPO comprises a fresh issue of equity shares worth ₹542 crore and an offer for sale (OFS) of shares aggregating up to ₹200 crore by promoter selling shareholders. Net proceeds from the fresh issue will be utilised towards repayment or prepayment of borrowings amounting to ₹490 crore and for general corporate purposes. The price band of the upcoming IPO is ₹203-214 per share, valuing the company at ₹3,003.8 crore. IIFL Capital Services Ltd. is acting as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. has been appointed as the registrar. LPIL operates three manufacturing units in West Bengal with a combined installed capacity of 85,448 MT. The company reported revenue of ₹2,326 crore and net profit of ₹151 crore in FY26, with its order book standing at ₹3,243 crore as of March 31, 2026.
The public offer of Happy Steel, an integrated maker of safety-critical, forged, and machined transmission and driveline components, will open on July 9 and conclude on July 13, 2026. The price band has been set at ₹62 to ₹66 per share for the ₹25 crore issue, which comprises an entirely fresh issue of 37.88 lakh equity shares. A lot consists of 2,000 shares with the least investment for individual investors being 4,000 shares. The company, which supplies products such as axles, long spline shafts and spindles to original equipment manufacturers (OEMs) and Tier-I suppliers in India and overseas, will utilize ₹13.15 crore of proceeds to expand its existing manufacturing facility by purchasing additional plant and machinery. An additional ₹4.98 crore will be used for loan repayment, while the remaining funds will be allocated towards general corporate purposes. Share India Capital Services is acting as the book-running lead manager, while Bigshare Services has been appointed as the registrar to the issue, with Share India Securities serving as the market maker.
Industrial catalysts and adsorbents manufacturer Devson Catalyst is looking to raise ₹42.34 crore through its initial share sale, open from July 9 to July 13, 2026. The IPO has a price range of ₹112 to ₹118 per share, combining a fresh issuance of ₹39.39 crore and an OFS of ₹2.95 crore by promoters Prahladbhai Devjibhai Shiyaniya, Pratapbhai Devjibhai Siyania, Patel Savan Prahladbhai, Patel Krishna Savanbhai, Gayatriben Patel and Shiyania Gitaben P. A lot consists of 1,200 shares with the minimum investment for individual investors being two lots or 2,400 shares. The funds will be used for capital expenditure towards establishing a new manufacturing unit, working capital requirements and general corporate purposes. JJ IPO Advisors is acting as the book-running lead manager, while MUFG Intime India has been appointed as the registrar to the issue, with MNM Stock Broking serving as the market maker.
Several companies have moved closer to their public offerings by filing draft documents with SEBI. TMC Transformers (India) filed draft papers for a proposed IPO comprising a fresh issue of up to ₹550 crore with potential pre-IPO placement of ₹110 crore. Swara Baby, a disposable hygiene products manufacturer, has filed its DRHP for a ₹1,000 crore issue consisting of ₹500 crore fresh issue and ₹500 crore OFS. Social Worth Technologies, operating under the Fibe brand, filed papers for a ₹750 crore fresh issue with over 4 crore equity shares in the OFS. Additionally, Pragyawan Technologies filed its DRHP for a ₹400 crore fresh issue and 1.5 crore equity shares OFS, while Prism (OYO's parent company) submitted its updated draft prospectus for a ₹6,650 crore fresh issue with potential pre-IPO placement of ₹1,330 crore. Kanohar Electricals and Torrent Gas have received SEBI's final approval to launch their IPOs, with Kanohar's issue including a ₹300 crore fresh issue. Recent market performance shows Advit Jewels IPO debuted with a strong 35% listing gain over issue price, while SME IPOs have achieved an average listing gain of 5.6% for the year, significantly outperforming mainboard averages of 1.7%.
