Ardee Industries IPO is a mainboard offer from a Delhi-based company engaged in the sustainable recovery and recycling of end-of-life energy storage products and non-ferrous scrap. The ₹425.87 crore issue combines a fresh issue of ₹320 crore with an offer for sale of ₹105.87 crore by two promoter shareholders.

For live subscription numbers and the application link, visit the Ardee Industries IPO page on IPO Ji. You can also track other live and upcoming issues on the IPO event calendar or browse upcoming mainboard IPOs on IPO Ji.

The offer for sale portion is being made by promoter shareholders Sandeep Aggarwal and Nikunj Aggarwal, who are each divesting up to 99.88 lakh shares. Up to 50% of the Net Offer is reserved for Qualified Institutional Buyers (of which up to 60% may go to anchor investors), not less than 15% for Non-Institutional Investors, and not less than 35% for Retail Individual Investors.

Kfin Technologies Ltd. is the registrar for the issue.

Pantomath Capital Advisors Pvt. Ltd. is the lead manager responsible for managing the IPO process.

For the complete lot-size table, live subscription tracker and application link, see the Ardee Industries IPO detail page on IPO Ji.

About Ardee Industries Limited

Ardee Industries Limited is an Indian company focused on the sustainable recovery and recycling of end-of-life energy storage products and non-ferrous scrap. Its product range includes pure lead and specialised lead alloys — Lead Calcium, Lead Antimony, Lead Tin, Lead Silver and Lead Cadmium alloys — used across the energy storage, e-mobility, automotive and chemical industries.

As of March 31, 2025, the company had served more than 50 customers across domestic and international markets in the batteries and metals industries, and had exported its products to seven countries: Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan and the USA.

The company operates a manufacturing facility spread across roughly 7.61 acres in Tirupati district, Andhra Pradesh, with an installed capacity of 104,025 MTPA. The plant is equipped with a rotary furnace, refining kettle, casting machine and pollution control facility, and is certified under ISO 9001:2015 (quality management), ISO 14001:2015 (environmental management) and ISO 45001:2018 (occupational health and safety). Promoters Sandeep Aggarwal, Nikunj Aggarwal and Esha Gupta hold the company ahead of the IPO.

Ardee Industries IPO Financial

• Net worth more than doubled from ₹62.60 crore in FY25 to ₹147.38 crore in FY26.
• Total borrowings increased from ₹165.77 crore in FY25 to ₹182.75 crore in FY26.
• Performance Total income grew roughly 57% between FY25 and FY26, while Profit After Tax grew roughly 155% over the same period.

Source: RHP financials for Ardee Industries Limited

Ardee Industries IPO Key Strengths

1. Established position in the circular economy: One of India's players in the sustainable recovery and recycling of energy storage products and non-ferrous scrap, with a track record of operational stability.
2. Commodity price risk management: The company applies hedging mechanisms for protection against commodity price risk.
3. Diversified customer base and sourcing: Served more than 50 customers across domestic and international markets as of March 2025, backed by established raw material sourcing capabilities.
4. Export footprint: Products exported to seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the UAE, Japan and the USA.
5. Track record of profitability: Revenue and profit after tax have both grown consistently over FY24, FY25 and FY26.

Ardee Industries IPO Key Risks

1. Single manufacturing location: All production is concentrated at one facility in Tirupati district, Andhra Pradesh, exposing operations to disruption at that single site.
2. Commodity price exposure: The business depends on lead and non-ferrous scrap prices, which can be volatile — the company's own disclosed reliance on hedging mechanisms points to this as an ongoing exposure.
3. Leverage: Total borrowings stood at ₹182.75 crore as of FY26, with a Debt/Equity ratio of 1.25, and part of the fresh issue proceeds are earmarked for working capital and debt repayment rather than capacity expansion.
4. Export market dependence: Sales to seven overseas markets carry currency and geopolitical risk alongside domestic demand risk.
5. Valuation multiples: At the upper price band, the issue is priced at a post-issue P/E of 19.70 and a Price/Book ratio of 21.54, levels that price in continued high growth.

Ardee Industries IPO Review: Our Take

Ardee Industries operates in a niche but structurally important segment — the recycling of lead-acid batteries and non-ferrous scrap — supported by an ISO-certified plant, an established base of over 50 customers, and exports to seven countries. Between FY24 and FY26, the company has shown consistent revenue and profit growth, with FY26 profit after tax rising roughly 155% year-on-year.

At the same time, operations remain concentrated at a single manufacturing site, the business carries commodity price exposure that it manages through hedging, and the issue is priced at double-digit P/E and high Price/Book multiples. Investors should review the complete financials, risk factors and subscription trends disclosed in the RHP before making an investment decision.

Investors should review the financials, peer valuations and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

Ardee Industries IPO Allotment Status

Allotment is tentatively expected around August 10, 2026, with listing tentatively scheduled for August 12, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• Kfin Technologies' registrar portal
• BSE or NSE websites

You'll need your PAN, application number or Demat account details.

Check the Ardee Industries IPO allotment status on IPO Ji for quick updates, or read our full guide on how IPO allotment works.

How to Apply for Ardee Industries IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Ardee Industries IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works, or you can apply directly using the UPI application method. Compare supported brokers on the IPO Ji broker directory.

MV Electrosystems IPO is a mainboard offer from a Faridabad, Haryana-based railway technology company that designs, develops, and manufactures electronic and electromechanical products for Indian Railways' rolling stock, including 3-Phase Propulsion Equipment, switchgear panels, and overhead electrification products. The ₹290 crore issue is entirely a Fresh Issue.

For live subscription numbers and the application link, visit the MV Electrosystems IPO page on IPO Ji. You can also track it alongside other live offers on the IPO Calendar and the full IPO List.

The entire issue of 68,23,528 shares, aggregating up to ₹290 crore, is a Fresh Issue — there is no Offer for Sale component. Retail investors can bid for a minimum of 1 lot (34 shares, ₹14,450) and a maximum of 13 lots (442 shares, ₹1,87,850) at the upper price band.

KFin Technologies Limited is the registrar for the issue, and Sundae Capital Advisors Private Limited is the sole book running lead manager. For the complete lot-size table, live subscription tracker, and application link, see the MV Electrosystems IPO detail page on IPO Ji.

About MV Electrosystems Limited

MV Electrosystems is a railway engineering company that designs and manufactures electronic and electromechanical products for Indian Railways. Its portfolio includes propulsion systems, switchgear and panels, cable protection products, overhead electrification equipment, traction motors, transformers, and embedded systems.

Its key product is the IGBT-based 3-Phase Drive Propulsion Equipment, which received prototype clearance from Chittaranjan Locomotive Works in September 2025. As of June 30, 2026, the company had an executable order book of ₹921.64 crore for 564 propulsion units, along with ₹67.68 crore in annual maintenance contracts.

The company operates manufacturing and R&D facilities in Palwal and Faridabad, Haryana. Promoter holding is expected to decline from 76.92% before the IPO to approximately 57.68% after the issue.

MV Electrosystems IPO Financial Performance

• Total income rose from ₹50.57 crore in FY24 to ₹64.64 crore in FY25, then declined to ₹49.79 crore in FY26.
• Profit after tax stood at ₹0.56 crore in FY24, rose to ₹1.40 crore in FY25, and turned into a loss of ₹12.63 crore in FY26.
• Total assets increased from ₹65.58 crore in FY24 to ₹74.12 crore in FY25 to ₹145.74 crore in FY26.
• Net worth rose from ₹16.53 crore in FY24 to ₹17.91 crore in FY25 to ₹62.57 crore in FY26, aided by the pre-IPO capital infusion.
• Reserves and surplus increased from ₹9.15 crore in FY24 to ₹8.77 crore in FY25 to ₹52.34 crore in FY26.
• Total borrowings rose slightly from ₹27.59 crore in FY24 to ₹27.50 crore in FY25 to ₹49.89 crore in FY26.

Source: RHP financials and the IPO Ji MV Electrosystems detail page.

MV Electrosystems IPO Key Strengths

1. In-house engineering and R&D capability: The company designs and develops complex railway propulsion systems internally, including its RDSO/CLW-approved IGBT-based 3-Phase Drive Propulsion Equipment.
2. Decade-long relationship with Indian Railways: Ten years of experience supplying railway products, with enhanced capability in indigenous propulsion systems.
3. Sizeable executable order book: As on June 30, 2026, the company's outstanding order book for 3-Phase Propulsion Equipment alone stood at ₹921.64 crore (excluding GST and AMC) — more than three times the size of this IPO — plus ₹67.68 crore in locked-in annual maintenance contract value.
4. Experienced management: A promoter group and management team with technical expertise and execution experience in railway electrical systems.

MV Electrosystems IPO Key Risks

1. High customer concentration in Indian Railways: Indian Railways, through its various units, was the single largest customer, accounting for 76.72% of revenue from operations in FY26, 72.96% in FY25, and 67.80% in FY24. Cancellation, delay, or reduction of orders by this customer could materially affect the business.
2. Regulatory approval risk: The company requires various statutory approvals and licenses for its operations, including pending applications for an increase in power load and consent to operate at its manufacturing units; delays in obtaining or renewing these could disrupt operations.
3. Geographic concentration risk: The company's manufacturing facility and Research, Design & Development Centre are both located in Haryana, exposing it to regional risks such as infrastructure disruption or changes in state-specific regulation.
4. Facility transition and execution risk: The company is in the process of shifting its cable protection and interconnected products operations to a new facility (Unit 2) and setting up additional manufacturing infrastructure for 3-Phase Propulsion Equipment; delays or cost overruns in this transition could affect operations.
5. FY26 net loss and negative returns: Profit after tax turned negative in FY26 (a loss of ₹12.63 crore, against a profit of ₹1.40 crore in FY25), and RoNW, ROE, and ROCE are all negative at the upper price band.

MV Electrosystems IPO Review: Our Take

MV Electrosystems operates in a specialised railway equipment segment and has experience supplying products to Indian Railways. As of June 30, 2026, the company had an outstanding order value of ₹921.64 crore for its CLW-approved 3-Phase Propulsion Equipment, providing visibility into its future project pipeline.

During FY26, revenue declined compared with FY25 and the company reported a loss after tax. The company also derives a significant share of its revenue from Indian Railways. Investors may consider its order book, industry positioning, recent financial performance, customer concentration, return ratios, subscription data, and the risks disclosed in the RHP before making an investment decision.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

MV Electrosystems IPO Allotment Status

Allotment is tentatively expected around August 4, 2026, with listing tentatively scheduled for August 6, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites

You'll need your PAN, application number, or Demat account details.

Check the MV Electrosystems IPO allotment status on IPO Ji for quick updates, or the broader IPO allotment status hub for any other IPO you've applied to.

How to Apply for MV Electrosystems IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for MV Electrosystems IPO, or create your bid directly using the IPO Application Form.
3. Review the price band, lot size, and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works. Looking for what else is open or launching soon? Check the Current IPO and Upcoming IPO pages on IPO Ji.

Explore More on IPO Ji

• IPO GMP Today — grey market premium for all live and upcoming IPOs
• Live IPO Subscription Status — real-time bidding data across categories
• IPO Allotment Status — check allotment for any IPO you've applied to
• IPO Event Calendar — key dates for every upcoming mainboard and SME IPO
• IPO Glossary — 100+ IPO terms explained
• Compare Brokers — find a broker to apply for MV Electrosystems IPO

This article is for informational purposes only and should not be construed as investment advice. Investors are advised to read the RHP carefully and consult a registered financial advisor before applying to any IPO.

Juniper Green Energy IPO is a mainboard offer from a New Delhi-headquartered independent power producer that develops, builds, and operates solar, wind, and hybrid renewable energy projects across India. The ₹1,800 crore issue is entirely a Fresh Issue, meaning the full amount raised flows into the company itself — there is no Offer for Sale component, so promoter shareholding will only be diluted, not sold down, through this IPO.

For live subscription numbers and the application link, visit the Juniper Green Energy IPO page on IPO Ji. You can also track it alongside other live offers on the IPO Calendar and the full IPO List.

The entire issue of 8,00,00,000 shares, aggregating up to ₹1,800 crore, is a Fresh Issue — there is no Offer for Sale component, so all net proceeds go to the company rather than to selling shareholders. Retail investors can bid for a minimum of 1 lot (66 shares, ₹14,850) and a maximum of 13 lots (858 shares, ₹1,93,050) at the upper price band.

KFin Technologies Limited is the registrar for the issue, while ICICI Securities Ltd, HSBC Securities & Capital Markets (India) Pvt. Ltd, JM Financial Ltd, and Kotak Mahindra Capital Co. Ltd. are the book running lead managers. For the complete lot-size table, live subscription tracker, and application link, see the Juniper Green Energy IPO detail page on IPO Ji. Grey market activity ahead of listing can be tracked on the IPO GMP page.

About Juniper Green Energy Limited

Juniper Green Energy is an independent renewable energy power producer focused on developing, building, and operating solar, wind, and hybrid power projects across India. The company manages the entire renewable energy project lifecycle in-house, spanning bidding and auction, site prospecting, land acquisition and grid permits, engineering and technology, procurement, project financing, plant construction and commissioning, and operations and maintenance.

The company has secured long-term power purchase agreements (PPAs) with government bodies including SECI, SJVN, NHPC, and NTPC, as well as private clients such as Tata Power Company Limited. As of May 31, 2025, Juniper Green Energy held a portfolio asset capacity of 7,898.45 MW, with its geographical footprint spread across Gujarat, Rajasthan, Maharashtra, and Madhya Pradesh.

Juniper Green Energy Limited was originally incorporated in December 2011 as AT Capital Advisory India Private Limited and was renamed Juniper Green Energy Private Limited in 2018 before converting to a public limited company in May 2025. The company's promoters — Arvind Tiku, Hemant Tikoo, Niharika Tiku, AT Holdings Pte. Ltd., and Juniper Renewable Holdings Pte. Ltd. — hold 100% of the company pre-issue, a stake expected to decline to approximately 85.94% after the IPO.

Juniper Green Energy IPO Financial Performance

• Revenue increased from ₹424.45 crore in FY24 to ₹569.78 crore in FY25 to ₹804.93 crore in FY26.
• Profit after tax stood at ₹40.06 crore in FY24, declined to ₹36.48 crore in FY25, and rose to ₹40.46 crore in FY26.
• Total assets grew sharply from ₹4,986.44 crore in FY24 to ₹10,356.81 crore in FY25 to ₹19,538.45 crore in FY26.
• Net worth increased from ₹108.21 crore in FY24 to ₹116.29 crore in FY25 to ₹122.89 crore in FY26.
• Reserves and surplus rose from ₹1,555.14 crore in FY24 to ₹2,870.91 crore in FY25 to ₹2,934.89 crore in FY26.
• Total borrowings increased significantly, from ₹2,671.70 crore in FY24 to ₹5,502.53 crore in FY25 to ₹12,920.54 crore in FY26.

Source: RHP/DRHP financials and the IPO Ji Juniper Green Energy detail page.

Juniper Green Energy IPO Key Strengths

1. Leading renewable energy independent power producer: The company ranks among the top 10 renewable energy IPPs operating in India, with a diversified mix of solar, wind, and hybrid projects.
2. Project development capability: A demonstrated ability to acquire land and secure grid connectivity well ahead of project execution, supporting efficient and timely project delivery.
3. Long-term power purchase agreements: PPAs with central and state government bodies as well as private companies provide revenue stability and shield the company from merchant power price volatility.
4. End-to-end in-house capabilities: The company manages every stage of the renewable project lifecycle internally, from bidding through operations and maintenance.

Juniper Green Energy IPO Key Risks

1. High dependence on key power off-takers: A majority of revenue comes from a limited number of power off-takers; the loss of any key commercial relationship could materially affect operations and cash flow.
2. Dependency on competitive auctions: Future growth hinges on successfully bidding for renewable energy projects through competitive auction processes.
3. Project execution risk: Growth depends on the timely execution and completion of renewable energy projects; delays could adversely affect the business.
4. Rising borrowings alongside asset growth: Total borrowings grew nearly fivefold between FY24 and FY26 as the asset base expanded, a leverage trend investors should weigh against the company's revenue and profit growth over the same period.
5. Thin profitability relative to asset growth: Profit after tax has grown modestly (₹40.06 crore in FY24 to ₹40.46 crore in FY26) even as total assets nearly quadrupled, reflected in a post-IPO RoNW of 1.18%.

Juniper Green Energy IPO Review: Our Take

Juniper Green Energy operates as an independent power producer in India’s renewable energy sector, with a portfolio of 7,898.45 MW and long-term power purchase agreements with government and private-sector off-takers. The company’s revenue increased consistently from FY24 to FY26. Since the IPO consists entirely of a Fresh Issue, the ₹1,800 crore proceeds are proposed to be used mainly for repayment of borrowings at the company and subsidiary levels.

The company’s total borrowings have also increased as its asset base has expanded, while its return on net worth remains relatively modest compared with some listed renewable energy companies. Investors may consider factors such as the company’s project portfolio, long-term PPA arrangements, debt levels, financial performance, subscription data, and the risks disclosed in the RHP before making an investment decision.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

Juniper Green Energy IPO Allotment Status

Allotment is tentatively expected around August 4, 2026, with listing tentatively scheduled for August 6, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites

You'll need your PAN, application number, or Demat account details.

Check the Juniper Green Energy IPO allotment status on IPO Ji for quick updates.

How to Apply for Juniper Green Energy IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Juniper Green Energy IPO, or create your bid directly using the IPO Application Form.
3. Review the price band, lot size, and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works. Looking for what else is open or launching soon? Check the Current IPO and Upcoming IPO pages on IPO Ji.

Explore More on IPO Ji

• IPO GMP Today — grey market premium for all live and upcoming IPOs
• Live IPO Subscription Status — real-time bidding data across categories
• IPO Allotment Status — check allotment for any IPO you've applied to
• IPO Event Calendar — key dates for every upcoming mainboard and SME IPO
• IPO Glossary — 100+ IPO terms explained
• Compare Brokers — find a broker to apply for Juniper Green Energy IPO

This article is for informational purposes only and should not be construed as investment advice. Investors are advised to read the RHP carefully and consult a registered financial advisor before applying to any IPO.

Manipal Health Enterprises IPO is a mainboard offering from India's largest multi-specialty hospital network by bed capacity, operating under the well-known "Manipal Hospitals" brand. The company, part of the Manipal Group founded by Dr. T.M.A. Pai, runs a pan-India chain of hospitals, clinics and diagnostic centres spanning tertiary and quaternary care, organ transplants, oncology, cardiology, neurology and orthopaedics.

The ₹9,275.21 crore IPO is a mix of a ₹8,000 crore fresh issue and a ₹1,275.21 crore offer for sale, making it one of the largest healthcare listings in India in recent years. The fresh issue proceeds are earmarked mainly for debt repayment at a material subsidiary and a minority-stake acquisition in Sahyadri Hospitals.

For issue details, subscription numbers and the application link, visit the Manipal Health Enterprises IPO page on IPO Ji.

Manipal Health Enterprises IPO — Quick Overview

Of the ₹9,275.21 crore issue, the fresh issue component of 13,55,93,220 shares (aggregating up to ₹8,000 crore) will go to the company, while the offer for sale of 2,16,13,834 shares (aggregating up to ₹1,275.21 crore) will go to selling shareholders. Kfin Technologies Limited is the registrar, and the lead managers are Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, JP Morgan India Private Limited, UBS Securities India Private Limited and DBS Bank India Limited.

For the complete lot-size table, live subscription tracker and application link, see the Manipal Health Enterprises IPO detail page on IPO Ji.

About Manipal Health Enterprises Limited

Manipal Health Enterprises Limited is one of India’s largest multi-specialty healthcare providers, operating hospitals, clinics and diagnostic centres across the country. It offers advanced treatments in organ transplants, oncology, cardiology, neurosciences, orthopaedics, renal sciences and preventive care.

As of March 31, 2026, the company operated 49 hospitals with 13,037 licensed beds across 14 states and union territories. It was the largest private hospital network in India by bed capacity and the second-largest by hospital count. Its growth has been supported by acquisitions such as Columbia Asia, AMRI Hospitals, Medica Synergie and Sahyadri Group. The network employed over 11,000 doctors, 11,000 nurses and 6,300 paramedics.

Manipal Health Enterprises Financial Performance

Based on the Restated Consolidated Financial Information in the RHP, for the financial years ended March 31, 2024, 2025 and 2026:

• Revenue from operations increased from ₹6,171.63 crore in FY24 to ₹8,242.25 crore in FY25, and further to ₹10,335.75 crore in FY26 — a CAGR of 29.41%.
• Profit for the year rose from ₹533.20 crore in FY24 to ₹1,081.67 crore in FY25, before declining to ₹916.52 crore in FY26.
• EBITDA (excluding exceptional items) increased from ₹1,776.60 crore in FY24 to ₹2,795.94 crore in FY26.
• Total assets increased from ₹10,818.83 crore in FY24 to ₹14,072.08 crore in FY25, and rose sharply to ₹24,864.50 crore in FY26.
• Net worth (equity attributable to owners) grew from ₹4,015.54 crore in FY24 to ₹5,847.34 crore in FY25 and further to ₹8,426.09 crore in FY26.
• Total borrowings increased from ₹3,943.98 crore in FY24 to ₹4,766.83 crore in FY25, and rose sharply to ₹10,553.43 crore in FY26.
• Net Asset Value per share stood at ₹72.55 as of March 31, 2026.

Source: RHP of Manipal Health Enterprises Limited, dated July 23, 2026

Manipal Health Enterprises Key Strengths

1. Largest pan-India hospital network by bed capacity: 13,037 licensed beds across 49 hospitals in 14 states and union territories as of March 31, 2026, with leadership positions in Karnataka, Maharashtra & Goa, and Eastern India.
2. Only private chain leading three metros simultaneously: Leadership by bed capacity in Bengaluru, Kolkata and Pune, giving it a mix of dense metro coverage and non-metro reach.
3. Recognised brand and clinical talent base: The "Manipal Hospitals" brand served 6.30 million patients in FY26 (pro forma basis) and the network includes over 11,000 doctors and a similar number of nurses.
4. Advanced clinical infrastructure: 18 soft-tissue robots, 19 linear accelerators, 44 MRI scanners, 23 surgical robots and 58 catheterisation labs supported complex procedures including transplants, robotic surgery and interventional cardiology.
5. Strong and consistent growth: Revenue from operations grew at a 29.41% CAGR and profit for the year at a 31.11% CAGR between FY24 and FY26, alongside a negative working capital cycle.
6. Proven acquisition and integration playbook: A track record of integrating hospital groups of varying sizes — Columbia Asia, Vikram Hospital, AMRI, Medica Synergie and, most recently, Sahyadri Group — while improving their margins post-acquisition.

Manipal Health Enterprises Key Weaknesses

1. Sharp rise in borrowings: Total borrowings more than doubled from ₹4,766.83 crore in FY25 to ₹10,553.43 crore in FY26, largely tied to funding recent acquisitions, including the Sahyadri Group.
2. Revenue concentration in Karnataka: The state accounted for 46.40% of revenue from operations in FY26 (down from 59.98% in FY24, but still the single largest exposure by geography).
3. Specialty concentration: Cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and renal sciences (CONGO-R) together accounted for 64.30% of gross inpatient revenue in FY26.
4. Profit decline in FY26 despite revenue growth: Profit for the year fell from ₹1,081.67 crore in FY25 to ₹916.52 crore in FY26, and basic EPS fell from ₹9.25 to ₹7.71 — partly reflecting a larger post-bonus-issue share base following the company's 2:1 bonus issue and equity sub-division.
5. Integration risk from recent acquisitions: The Sahyadri Group acquisition (completed October–December 2025) and other recent deals carry execution risk around realising anticipated synergies and integrating systems and clinical protocols.

Manipal Health Enterprises IPO Allotment Status

Allotment is tentatively expected around August 3, 2026, with listing tentatively scheduled for August 5, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites
• Kfin Technologies (registrar) website

You'll need your PAN, application number or Demat account details.

Check the Manipal Health Enterprises IPO allotment status on IPO Ji for quick updates.

How to Apply for Manipal Health Enterprises IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Manipal Health Enterprises IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works.

Lohia Corp IPO is a mainboard offer from a Kanpur-headquartered manufacturer of machinery for the woven fabric and technical textiles industry, with a global footprint spanning manufacturing, sales, and service operations. The ₹1,102.08 crore issue is entirely an Offer for Sale, meaning the company will not receive any of the proceeds — the entire amount goes to the promoter shareholders selling their stake.

For live subscription numbers and the application link, visit the Lohia Corp IPO page on IPO Ji.

Lohia Corp IPO — Quick Overview

The entire issue of 2,59,31,407 shares, aggregating up to ₹1,102.08 crore, is an Offer for Sale by existing shareholders. There is no fresh issue component, so the company's own share capital and shareholding remain unchanged before and after the IPO, at 10,56,50,000 shares.
QIBs are reserved at least 75% of the Net Offer, NIIs not more than 15%, and retail investors not more than 10%. Eligible employees are offered a discount of ₹40 per share.
MUFG Intime India Pvt. Ltd. is the registrar for the Lohia Corp IPO, while Equirus Capital Ltd. and Motilal Oswal Investment Advisors Ltd. are the lead managers.
For the complete lot-size table, live subscription tracker and application link, see the Lohia Corp IPO detail page on IPO Ji.

About Lohia Corp IPO Limited

Lohia Corp manufactures machinery for technical textiles, specialising in PP and HDPE woven fabric and sacks, commonly known as Raffia. Its portfolio includes tape extrusion lines, circular looms, coating, laminating, printing and converting machines, yarn and monofilament machinery, recycling lines, winders and spare parts. These machines are used for packaging products such as cement, fertiliser, chemical, food grain, FIBC and shopping bags, as well as non-packaging products including tarpaulins, geotextiles, carpet backing, ropes and twine. As of March 31, 2026, the company had an annual installed capacity of 240 tape extrusion lines, 13,800 circular looms and 108,000 winders, with over 2,447 tape extrusion lines, 101,452 circular looms and 502,940 winders sold cumulatively.

The company has international offices in Brazil, Russia, Thailand, the UAE and the USA, supported by warehouses and stockists across multiple countries. It employed 2,010 permanent employees as of March 31, 2026. Although Lohia Corp Limited was incorporated in 2023, the Lohia Group’s manufacturing operations date back to 1981, giving it more than four decades of industry experience. Promoters Raj Kumar Lohia, Gaurav Lohia and Amit Kumar Lohia hold approximately 95.6% of the company before the IPO, which is expected to decline to around 75.2% after the Offer for Sale.

Lohia Corp IPO Financial Performance

• Total income increased from ₹1,386.47 crore in FY25 to ₹1,737.87 crore in FY26, a rise of roughly 25%.
• Profit after tax increased from ₹117.84 crore in FY25 to ₹193.45 crore in FY26, a rise of roughly 64%.
• Total assets increased from ₹967.60 crore in FY25 to ₹1,304.66 crore in FY26.
• Reserves and surplus increased from ₹358.14 crore in FY25 to ₹519.16 crore in FY26.
• Total borrowings declined from ₹212.16 crore in FY25 to ₹152.78 crore in FY26.
• EBITDA increased from ₹228.60 crore in FY25 to ₹339.45 crore in FY26.

Source: RHP/DRHP financials for Lohia Corp Limited.

Lohia Corp IPO Key Strengths

1. End-to-end product portfolio: Covers the entire value chain for the woven fabrics and Raffia industry, from conceptualisation through to commissioning.
2. Advanced manufacturing infrastructure: Multiple manufacturing facilities, experience centres, training centres, and R&D facilities in India and abroad, supported by backward integration.
3. Technology-driven operations: R&D-focused approach aimed at continuous improvement in machinery and solutions.
4. Market leadership: Positioned as a market leader in India and among the leading global manufacturers of woven raffia machinery.
5. Diverse global customer relationships: Long-standing engagements with customers across multiple countries and end-use industries.

Lohia Corp IPO Key Weaknesses

1. Entirely an Offer for Sale: All ₹1,102.08 crore raised goes to the selling shareholders — the company itself receives no proceeds from this IPO, and there is no stated capital expenditure or debt-reduction plan funded by the issue.
2. Geographic concentration of manufacturing: Facilities located in India, the USA, and Italy expose the business to disruption from natural calamities, political unrest, and economic or policy changes in those geographies.
3. High industry competition: Faces competition from domestic and international machinery manufacturers; an inability to keep pace with technology, quality, and pricing expectations could affect growth.
4. Capacity utilisation risk: Manufacturing capacity could be underutilised if customer demand slows or industry conditions weaken.
5. Elevated valuation multiples: At the upper price band, the issue is priced at a P/E of 23.21 and a Price/Book ratio of 8.61.

Lohia Corp IPO Review: Our Take

Lohia Corp operates in a specialised, technology-driven segment of industrial machinery manufacturing, with a global customer base and a broad product portfolio serving the woven fabric and Raffia industry. Between FY25 and FY26, the company reported growth in revenue and profit, alongside a decline in total borrowings — a combination that points to improving operating performance and a stronger balance sheet.

At the same time, the entire issue is an Offer for Sale, so none of the funds raised will be deployed into the business itself, and the company's performance remains exposed to competition and geographic concentration in its manufacturing base. Investors should review the financials, subscription levels, and risk factors disclosed in the RHP before making an investment decision.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

Lohia Corp IPO Allotment Status

Allotment is tentatively expected around July 28, 2026, with listing tentatively scheduled for July 30, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites

You'll need your PAN, application number or Demat account details.

Check the Lohia Corp IPO allotment status on IPO Ji for quick updates.

How to Apply for Lohia Corp IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Lohia Corp IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works.

This article is for informational purposes only and should not be construed as investment advice. Investors are advised to read the RHP/DRHP carefully and consult a registered financial advisor before applying to any IPO.

Indo-MIM IPO is a mainboard issue from a Bengaluru-based precision engineering company that has spent nearly three decades building the world's largest installed manufacturing capacity in Metal Injection Molding (MIM) technology.

The company makes precision components for the automotive, defence, medical, consumer and aerospace industries, running 15 manufacturing plants across India, the United States, the United Kingdom and Mexico. The ₹3,812.11 crore IPO combines a fresh issue and an offer for sale, with the fresh issue proceeds earmarked mainly for debt repayment and general corporate purposes.

For live subscription numbers and the application link, visit the Indo-MIM IPO page on IPO Ji.

Of the ₹3,812.11 crore issue, the fresh issue component of 1,03,09,278 shares (aggregating up to ₹500 crore) will go directly to the company, while the offer for sale of 6,82,91,022 shares (aggregating up to ₹3,312.11 crore) will go to selling shareholders. The fresh issue proceeds are earmarked for repayment or prepayment of certain outstanding borrowings (₹400.0 crore) and general corporate purposes. MUFG Intime India Private Limited (Link Intime) is the registrar, and HDFC Bank, Axis Capital, ICICI Securities, Kotak Mahindra Capital Company and SBI Capital Markets are the lead managers for the Indo-MIM IPO.

For the complete lot-size table, live subscription tracker and application link, see the Indo-MIM IPO detail page on IPO Ji.

About Indo-MIM Limited

Indo-MIM Limited, founded in 1996 and headquartered in Bengaluru, manufactures precision engineering components using Metal Injection Molding and related technologies such as investment casting, precision machining, ceramic injection molding and metal 3D printing.

In Fiscal 2025, the company produced over 6,400 products for automotive, defence, medical, consumer and aerospace customers. It operates 15 manufacturing plants across India, the US, the UK and Mexico, and served more than 1,000 customers globally.

Indo-MIM has expanded through acquisitions, including CMG Technologies, Triax Industries and Phoenix DeVentures II, and holds multiple international quality certifications.

Its promoters are Green Meadows Investments Ltd, Krishna Chivukula Jr., Raj Chivukula and Jagadamba Chandrasekhar. Promoter holding will decline from 92.94% before the IPO to 77.65% after the issue.

Indo-MIM Financial Performance

• Total income increased from ₹2,900.38 crore in FY24 to ₹3,373.97 crore in FY25, and further to ₹4,320.70 crore in FY26.
• Profit after tax rose from ₹283.73 crore in FY24 to ₹423.73 crore in FY25, and further to ₹533.54 crore in FY26.
• Total assets increased from ₹3,757.51 crore in FY24 to ₹4,140.84 crore in FY25 and further to ₹4,897.33 crore in FY26.
• Net worth grew from ₹2,050.51 crore in FY24 to ₹2,199.43 crore in FY25 and further to ₹2,819.55 crore in FY26.
• Total borrowings rose from ₹1,085.01 crore in FY24 to ₹1,247.20 crore in FY25, before easing to ₹1,090.49 crore in FY26.

Source: RHP, Indo-MIM Limited

Indo-MIM Key Strengths

1. Global leadership in MIM manufacturing: Indo-MIM holds the world's largest installed capacity in Metal Injection Molding, with capability spanning the full cycle from mold design and tooling to finishing and assembly.
2. Diversified product portfolio: The company supplies precision components across automotive, defence, medical, aerospace and consumer sectors, reducing dependence on any single industry.
3. Consistent income and profit growth: Total income grew from ₹2,900.38 crore in FY24 to ₹4,320.70 crore in FY26, while profit after tax rose from ₹283.73 crore to ₹533.54 crore over the same period.
4. Integrated global manufacturing footprint: 15 plants across India, the USA, the UK and Mexico give the company backward integration and dual-shore capacity, supporting large multinational customers.
5. Broad certification base: Accreditations including NADCAP, IATF 16949 and AS9100 support Indo-MIM's ability to serve regulated industries such as aerospace, defence and medical devices.

Indo-MIM Key Risks

1. No long-term customer commitments: The company operates on a purchase-order basis without binding commitments from customers, so a cancellation or reduction in orders could affect revenue and cash flows.
2. Dependence on imported raw materials: Indo-MIM imports a significant share of its raw materials, exposing it to import restrictions, commodity price movements, currency fluctuations and geopolitical factors.
3. Manufacturing interruption risk: With operations spread across multiple plants and geographies, the company is exposed to disruptions from equipment breakdowns, labour disputes, natural events or other unforeseen causes.
4. Elevated valuation multiples: At the upper price band, the issue is priced at a post-IPO P/E of 44.95 and a Price/Book ratio of 10.63, valuation levels investors should weigh against the company's growth and return ratios.
5. Large OFS component: ₹3,312.11 crore of the ₹3,812.11 crore issue is an Offer for Sale, meaning the bulk of the proceeds will go to selling shareholders rather than the company.

Indo-MIM IPO Review: Our Take

Indo-MIM operates in the specialised precision manufacturing segment, with capabilities in Metal Injection Molding and a customer base across automotive, defence, medical, aerospace and consumer industries. The company has reported growth in revenue, profit and net worth, supported by its manufacturing presence across multiple countries.

Its business is largely based on purchase orders rather than long-term contracts and involves dependence on imported raw materials. The IPO also includes a significant Offer for Sale component, while the valuation at the upper price band should be assessed in comparison with industry peers and the company’s financial performance.

Investors should review the RHP, valuation, subscription data, financial statements and disclosed risk factors before making an investment decision.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

Indo-MIM IPO Allotment Status

Allotment is tentatively expected around July 28, 2026, with listing tentatively scheduled for July 30, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites
• The registrar's website (MUFG Intime India Private Limited / Link Intime)

You'll need your PAN, application number or Demat account details.

Check the Indo-MIM IPO allotment status on IPO Ji for quick updates.

How to Apply for Indo-MIM IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Indo-MIM IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works.

This article is for informational purposes only and should not be construed as investment advice. Investors are advised to read the RHP/DRHP of the company carefully and consult a registered financial advisor before applying to any IPO.

Caliber Mining & Logistics IPO is a mainboard issue from a Chandrapur-based integrated service provider that has spent over a decade handling coal mining, overburden removal and logistics operations for some of India's largest coal producers.

The company combines mining-support services with road and rail logistics coordination, working primarily with subsidiaries of Coal India Limited. The ₹450 crore IPO is a mix of fresh issue and offer for sale, with the fresh issue proceeds earmarked mainly for debt repayment and machinery purchase.

For live GMP, subscription numbers and the application link, visit the Caliber Mining & Logistics IPO page on IPO Ji.

Of the ₹450 crore issue, the fresh issue component of 94,33,962 shares (aggregating up to ₹400 crore) will go directly to the company, while the offer for sale of 11,79,245 shares (aggregating up to ₹50 crore) will go to selling shareholders. The fresh issue proceeds are earmarked for repayment or prepayment of certain borrowings (₹208.0 crore), funding capital expenditure for the purchase of machinery (₹167.0 crore), and general corporate purposes. Kfin Technologies Limited is the registrar, and Dam Capital Advisors Limited is the lead manager for the Caliber Mining & Logistics IPO.

For the complete lot-size table, live subscription tracker and application link, see the Caliber Mining & Logistics IPO detail page on IPO Ji.

Check the Caliber Mining & Logistics IPO GMP on IPO Ji for real-time updates as they show up.

About Caliber Mining & Logistics Limited

Caliber Mining and Logistics Limited, incorporated in 2014, functions as an integrated service provider with expertise in coal mining and logistics. The company offers all-round services such as coal mining, overburden removal, coal loading and unloading, road transport, and rail transportation coordination, making it a one-stop solution provider for its coal mining and logistics business.

The company's largest clients include subsidiaries of Coal India Limited (CIL), namely Western Coalfields Limited (WCL) and Northern Coalfields Limited (NCL). Caliber Mining & Logistics has been in the logistics business since Fiscal 2016 and extended its operations to iron ore clients in Fiscal 2023.

The company's coal mining and overburden removal operations are located across Maharashtra, Chhattisgarh and Madhya Pradesh, with its headquarters in Chandrapur, Maharashtra. As of October 31, 2024, the company had 3,742 employees, including nine retainer employees.

Caliber Mining & Logistics Financial Performance

• Revenue increased from ₹957.92 crore in FY24 to ₹1,435.57 crore in FY25, and further to ₹1,684.66 crore in FY26.
• Profit after tax rose from ₹95.90 crore in FY24 to ₹131.55 crore in FY25, and further to ₹157.90 crore in FY26.
• Total assets increased from ₹1,279.18 crore in FY24 to ₹1,404.09 crore in FY25 and rose significantly to ₹2,077.39 crore in FY26.
• Net worth grew from ₹295.93 crore in FY24 to ₹489.30 crore in FY25 and further to ₹647.54 crore in FY26.
• Total borrowings declined from ₹717.88 crore in FY24 to ₹649.27 crore in FY25, before rising sharply to ₹1,057.61 crore in FY26.

Source: RHP Caliber Mining & Logistics Limited

Caliber Mining & Logistics Key Strengths

1. Consistent revenue growth: Revenue increased from ₹957.92 crore in FY24 to ₹1,684.66 crore in FY26, growing across all three years.
2. Rising profitability: Profit after tax grew from ₹95.90 crore in FY24 to ₹157.90 crore in FY26.
3. Strengthening net worth: Net worth nearly doubled from ₹295.93 crore in FY24 to ₹647.54 crore in FY26.
4. Established client relationships: Long-standing engagements with Coal India subsidiaries WCL and NCL provide the company with steady, large-scale contract work.
5. Diversifying service base: Expansion into iron ore logistics since Fiscal 2023 reduces some reliance on coal-only operations.

Caliber Mining & Logistics Key Weaknesses

1. Sharp rise in FY26 borrowings: Total borrowings increased from ₹649.27 crore in FY25 to ₹1,057.61 crore in FY26, raising the company's leverage.
2. High client concentration: A large share of revenue depends on contracts with Coal India Limited subsidiaries, exposing the company to renewal and pricing risk tied to a small client base.
3. Elevated valuation multiples: At the upper price band, the issue is priced at a post-IPO P/E of 17.55 and a Price/Book ratio of 7.33.
4. Partial OFS component: ₹50 crore of the issue is an Offer for Sale, meaning that portion of the proceeds will go to selling shareholders rather than the company.

Caliber Mining & Logistics IPO Review: Our Take

Caliber Mining & Logistics operates in coal mining support services and logistics, with a contract-based business model and established relationships with Coal India subsidiaries. Between FY24 and FY26, the company reported growth in revenue, profit and net worth.

However, borrowings increased significantly in FY26, and the company depends on a limited number of major clients. Its performance may also be affected by changes in coal demand, regulations and sector conditions. Investors should review the valuation, subscription levels, GMP, financials and risk factors disclosed in the RHP before making an investment decision.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

Caliber Mining & Logistics IPO Allotment Status

Allotment is tentatively expected around July 22, 2026, with listing tentatively scheduled for July 24, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites

You'll need your PAN, application number or Demat account details.

Check the Caliber Mining & Logistics IPO allotment status on IPO Ji for quick updates.

How to Apply for Caliber Mining & Logistics IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Caliber Mining & Logistics IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works.

This article is for informational purposes only and should not be construed as investment advice. Investors are advised to read the RHP/DRHP of each company carefully and consult a registered financial advisor before applying to any IPO.

India’s primary market is set for a busy end to July, with five mainboard IPOs across mining, healthcare, dairy, renewable energy, and industrial machinery expected to raise around ₹15,000 crore.

Beyond the fundraising size, the sector mix is worth noting. The lineup includes businesses from coal logistics, hospitals, dairy products, renewable power, and industrial machinery, indicating that IPO activity is currently spread across a wider range of industries rather than being driven by a single theme.

Here's a company-by-company breakdown of what's coming, based on DRHP filings and the latest disclosures.

1. Caliber Mining & Logistics IPO

Caliber Mining is a Nagpur-based contract mining operator — coal extraction, overburden removal, loading and rail-transport coordination, mostly for Coal India subsidiaries like Western Coalfields and Northern Coalfields.

Key details:

• Issue type: Fresh issue of ₹500 crore + OFS of ₹100 crore (fresh issue reduced after a ₹100 crore pre-IPO round)
• Fleet: 1,400+ vehicles across Maharashtra, Chhattisgarh and Madhya Pradesh
• Growth: Revenue up from ₹372 crore (FY22) to ₹953 crore (FY24)

Reader takeaway: A fast-scaling roll-up story, but one that leans heavily on a handful of Coal India customers.

2.Manipal Health Enterprises IPO

The headline name in this batch. Manipal Health, the company behind Manipal Hospitals, got SEBI's go-ahead on July 3, 2026, clearing the runway for what could become India's largest-ever healthcare IPO.

Key details:

• Issue type: Fresh issue of ₹8,000 crore + OFS of ~4.32 crore shares (Temasek, TPG, Mubadala and others selling down)
• Scale: 38 hospitals (48 pro forma), 12,000+ beds across 14 states
• Use of funds: Mostly subsidiary debt repayment

Reader takeaway: The biggest issue on this list by far — worth watching closely for the RHP and price band once filed.

3.Milky Mist Dairy Foods IPO

Unlike most listed dairy names, Milky Mist doesn't sell liquid milk at all — its entire revenue comes from paneer, cheese, curd, ghee and packaged foods sold under the Milky Mist and SmartChef brands.

Key details:

• Issue type: Fresh issue of ₹1,785 crore + OFS of ₹250 crore
• Growth: Revenue up from ₹1,394 crore (FY23) to ₹2,349 crore (FY25), ~30% CAGR
• Status: SEBI-approved, roadshows reportedly done, eyeing a late-July or early-August window

Reader takeaway: The most time-sensitive name here — could be the first of the five to actually open.

4. Juniper Green Energy IPO

A Gurugram-based independent power producer running solar, wind and hybrid projects, with long-term power purchase agreements signed with SECI, NHPC, NTPC and Tata Power.

Key details:

• Issue type: 100% fresh issue of up to ₹3,000 crore, no OFS
• Strength: Over 97% of operational capacity tied to long-term PPAs
• Use of funds: Mainly subsidiary debt repayment

Reader takeaway: Every rupee raised goes into the company — a cleaner growth-capital story than most on this list.

5. Lohia Corp IPO

A Kanpur-based, decades-old name in a narrow but global niche: machinery for woven plastic packaging — fertiliser sacks, cement bags, technical textiles. This is its second attempt at listing after a 2022 approval that was never used.

Key details:

• Issue type: 100% Offer for Sale of ~4.22 crore shares by the promoter Lohia family — no fresh issue
• Market position: 15.4% share of the global raffia machinery market, ~41% domestically

Reader takeaway: A pure exit for promoters, not growth capital — the company itself won't receive any proceeds.

Want to Track These IPOs Without Refreshing Multiple Websites?

Download the IPO Ji app or visit ipoji.com to follow real-time IPO subscription status, allotment status, listing dates, GMP updates, and company-wise IPO details for all upcoming IPOs in July 2026.

This article is for informational purposes only and should not be construed as investment advice. Investors are advised to read the RHP/DRHP of each company carefully and consult a registered financial advisor before applying to any IPO.

SBI Funds Management IPO is a mainboard offer for sale from India's largest asset management company by quarterly average assets under management. The company acts as the investment manager to SBI Mutual Fund, a franchise that traces back to 1987 as the first mutual fund entity set up outside the Unit Trust of India, and today it also runs one of the country's biggest portfolio management, alternative investment fund, and specialised investment fund businesses.

The ₹9,795.31 crore IPO is entirely an offer for sale by the two existing shareholders — State Bank of India and Amundi India Holding. Since there is no fresh issue component, the company itself will not receive any proceeds; the entire amount raised goes to the selling shareholders. This is one of the largest AMC listings India has seen, and it arrives with strong, consistently growing profitability on the company's books.

SBI Funds Management has raised ₹1,880 Cr through a pre-IPO placement, reducing the IPO size from ₹11,692.91 Cr to approximately ₹9,795.31 Cr.

For live GMP, application link and subscription status, visit the SBI Funds Management IPO page on IPO Ji.

SBI Funds Management IPO — Quick Overview

The issue is a 100% offer for sale of up to 17,09,56,631 equity shares of face value ₹1 each, split between the two promoter-selling shareholders — State Bank of India (up to 9,95,01,649 shares) and Amundi India Holding (up to 7,14,54,982 shares). Anchor investor bidding takes place a day earlier, on July 13, 2026. Eligible employees are being offered a discount of ₹54 per share to the issue price. KFin Technologies Limited is the registrar, and the book-running lead managers include Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, HSBC Securities and Capital Markets (India), Jefferies India, ICICI Securities, JM Financial, SBI Capital Markets, and Motilal Oswal Investment Advisors.

For the complete lot-size table, live subscription tracker and application link, see the SBI Funds Management IPO detail page on IPO Ji

SBI Funds Management IPO GMP

(as of 16 July 2026, 11:35 AM IST)

SBI Funds Management IPO GMP today is around ₹93–₹94 per share, which implies an estimated listing price of ₹667 -  ₹668 — roughly at  16% premium over the upper price band of ₹574.

Grey Market Premium is an unofficial, sentiment-driven number — not a forecast of listing gains, and not something to rely on by itself. Treat it as one data point alongside the company's financials and subscription demand.

Check the SBI Funds Management IPO GMP on IPO Ji for real-time updates as they show up.

SBI Funds Management IPO Shareholder Quota

Since State Bank of India is a promoter and selling shareholder in this issue, the RHP carries a separate reservation for existing SBI shareholders, over and above the regular retail, NII and QIB categories.

Holding even a single SBI share on the record date makes you eligible to apply under this dedicated shareholder category, which runs as a separate allotment pool from the regular retail quota. Eligible SBI shareholders can typically apply under both the Retail/HNI category and the shareholder category as two separate applications, which can improve overall allotment chances — subject to the specific conditions and application limits laid out in the RHP.

This reservation applies only to those who already held SBI shares by the record date; buying SBI shares afterwards does not create fresh eligibility. Always cross-check the exact eligibility conditions, application limits and category-wise process against the RHP before applying.

Check the SBI Funds Management IPO shareholder quota details on IPO Ji closer to the issue open date for the latest updates.

About SBI Funds Management Limited

SBI Funds Management Limited, incorporated in 1992 and SEBI-approved in 1993, is the AMC of SBI Mutual Fund, whose origins date back to 1987. Since 2011, it has operated as a joint venture between State Bank of India and Amundi India Holding.

As of December 31, 2025, it managed around ₹12.5 lakh crore in QAAUM, making it India’s largest AMC with a 15.4% market share. The company also leads in passive funds, PMS, and Specialised Investment Funds, while running a large SIP base of about 1.58 crore active SIPs.

The IPO’s selling shareholders are State Bank of India and Amundi India Holding. Its listed peers include HDFC AMC, ICICI Prudential AMC, Nippon Life India AMC, UTI AMC, and Aditya Birla Sun Life AMC.

SBI Funds Management Financial Performance

• Profit after tax has grown even faster than the top line, rising from ₹2,072.79 crore in FY24 to ₹2,540.15 crore in FY25 (up ~23%), and then to ₹3,067.38 crore in FY26 (up ~21%).
• EBITDA rose from ₹2,718.82 crore in FY24 to ₹3,412.94 crore in FY25 to ₹4,058.44 crore in FY26, keeping EBITDA margins in a broadly similar high range across the period — a hallmark of the capital-light AMC business model.
• Net worth moved from ₹6,747.75 crore in FY24 up to ₹8,297.53 crore in FY25, before falling to ₹5,963.06 crore in FY26 even as profit after tax kept rising. This is worth a closer look in the RHP's restated financial statements and notes on reserves movement — a net worth decline alongside rising profit is often linked to dividend payouts or other capital adjustments ahead of a listing, but investors should verify the specific reason from the offer document rather than assume it.
• Because net worth fell in FY26, Return on Net Worth works out to roughly 51% for FY26 (₹3,067.38 crore PAT on ₹5,963.06 crore net worth), sharply higher than the roughly 31% RoNW implied by FY25 figures (₹2,540.15 crore PAT on ₹8,297.53 crore net worth). Investors should treat the FY26 RoNW as elevated by the lower net worth base rather than purely by operating performance, and check the RHP for the exact, board-computed RoNW figure and its basis.

Total income has grown every year across the three-year restated period — from ₹3,426.08 crore in FY24 to ₹4,236.15 crore in FY25, and further to ₹4,976.11 crore in FY26, a year-on-year increase of about 17%.

Source: RHP / restated financial statements, SBI Funds Management Limited

SBI Funds Management Key Strengths

1. Market leadership with strong operating leverage: As India's largest AMC by QAAUM, the company benefits from significant economies of scale — its operating expense ratio stood at 0.08% in FY25, lower than the 0.10%–0.19% range reported by other top-10 AMCs.
2. Leading PMS, AIF and SIF platform: Beyond mutual funds, the company holds a 39% market share in portfolio management services and a 61% share in Specialised Investment Funds, giving it multiple growth engines beyond the core mutual fund business.
3. Strong SIP franchise and retail base: With around 1.58 crore active SIPs and a 12.78% share of industry SIP inflows, the company has a large base of recurring, relatively sticky retail money.
4. Pan-India, multi-channel distribution: An extensive network spanning banking channels, distributors and digital platforms reduces dependence on any single distribution route.
5. Consistent, high-margin profitability: PAT grew from ₹2,072.79 crore in FY24 to ₹3,067.38 crore in FY26, supported by consistently strong EBITDA margins across the period.

SBI Funds Management Key Risks

1. Revenue sensitivity to QAAUM fluctuations: Revenue and profitability move directly with QAAUM. A market downturn, investor redemptions, or a shift in asset mix toward lower-fee categories could hit fee income while several operating costs stay relatively fixed.
2. Dependence on Indian capital markets: The business is closely tied to the performance of Indian equity and debt markets. Volatility, weak investor sentiment, interest rate changes or reduced foreign fund flows could all weigh on QAAUM and earnings.
3. Ongoing litigation: The company has pending direct tax matters of about ₹3.44 crore and indirect tax matters of about ₹145.02 crore, an adverse outcome in which could affect its financials and reputation.
4. Concentration in top schemes: The top five mutual fund schemes accounted for 43.41% of total mutual fund QAAUM as of December 31, 2025, and the top ten for 59.95% — any setback to these key schemes could disproportionately affect overall performance.
5. Pure offer-for-sale structure: Since the issue is entirely an OFS, the company receives none of the IPO proceeds — the listing benefits the selling shareholders rather than funding company growth directly.

SBI Funds Management IPO Review: Our Take

SBI Funds Management is India’s largest asset manager by QAAUM, with operations across mutual funds, PMS, AIFs, and SIFs. The company has shown steady growth in revenue, EBITDA, and PAT during FY24–FY26, supported by strong scale, healthy margins, and a large SIP-led investor base.

However, the IPO is a complete offer-for-sale, meaning the company will not receive any proceeds. Its performance also depends on capital market conditions, QAAUM trends, and concentration in key schemes. Investors may compare its valuation with listed AMC peers and review the RHP, GMP trend, subscription demand, and risk factors before deciding.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

SBI Funds Management IPO Allotment Status

Allotment is tentatively expected around July 17, 2026, with listing tentatively scheduled for July 21, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app - playstore / appstore or website
• BSE or NSE websites
• The registrar's website (KFin Technologies Limited)

You'll need your PAN, application number or Demat account details.

Check the IPO Ji allotment status page for quick updates.

How to Apply for SBI Funds Management IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for SBI Funds Management IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works. If you hold SBI shares in your demat account, check the RHP for details on any separate shareholder reservation category and record date eligibility.

Disclaimer: This blog is for informational and educational purposes only. It does not constitute investment advice or a recommendation to apply for, subscribe to, or trade in this IPO. IPO Ji does not provide SEBI-registered investment advisory services. Please review the RHP and consult a SEBI-registered investment advisor before making any investment decision.

Laser Power & Infra IPO is a mainboard issue from a Kolkata-based integrated manufacturer of power cables, conductors and other specialised products and components for India's power transmission and distribution industry. The company has also expanded into the EPC (Engineering, Procurement and Construction) side of the business, taking up rural electrification, substation erection and other turnkey power infrastructure projects.

The ₹742 crore IPO comprises a fresh issue and an offer for sale. Proceeds from the fresh issue will go to the company, while the offer-for-sale portion will be received by the selling shareholder. Revenue declined marginally in FY26 following strong growth in the previous year, while profitability increased during the same period.

For live GMP, application link and subscription status, visit the Laser Power & Infra IPO page on IPO Ji.

Laser Power & Infra IPO — Quick Overview

The issue comprises a fresh issue of 2,53,27,103 shares (aggregating up to ₹542 crore) and an offer for sale of 93,45,794 shares (aggregating up to ₹200 crore) by the promoter selling shareholder. The face value of per share is ₹5. MUFG Intime India Pvt. Ltd. is the registrar, while IIFL Capital Services Ltd. and ICICI Securities Ltd. are lead managers for the Laser Power & Infra IPO.

For the complete lot-size table, live subscription tracker and application link, see the Laser Power & Infra IPO detail page on IPO Ji.

Laser Power & Infra IPO GMP

(as of 15 July 2026, 11:00 AM IST)

Laser Power & Infra IPO GMP today is around ₹40–₹41 per share, which implies an estimated listing price of ₹254 -  ₹255 — roughly at  19% premium over the upper price band of ₹214.

Grey Market Premium is an unofficial, sentiment-driven number — not a forecast of listing gains, and not something to rely on by itself. Treat it as one data point alongside the company's financials and subscription demand.

Check the Laser Power & Infra IPO GMP on IPO Ji for real-time updates as they show up.

About Laser Power & Infra Limited

Laser Power & Infra Ltd. manufactures power cables, conductors and specialised components for India’s power transmission and distribution sector. It also executes EPC projects, including rural electrification, substations and other turnkey infrastructure works.

The company operates three manufacturing units in West Bengal with a combined capacity of 73,100 MT. Headquartered in Kolkata, it had 660 permanent employees as of August 2025.The company’s listed peers include Apar Industries, Polycab India, KEI Industries, Dynamic Cables and Universal Cables. Its promoters are Deepak Goel, Devesh Goel, Akshat Goel and Rakhi Goel. Their combined shareholding is expected to decline from 100% before the issue to 75.30% after the IPO.

Laser Power & Infra Financial Performance

• Revenue increased from ₹1,763.65 crore in FY24 to ₹2,592.53 crore in FY25 — a jump of nearly 47% — before easing by around 9.4% to ₹2,347.89 crore in FY26.
• Profit after tax rose sharply from ₹40.41 crore in FY24 to ₹106.75 crore in FY25, and continued climbing to ₹151.59 crore in FY26, up about 42% year-on-year despite the dip in revenue.
• Total assets grew steadily from ₹1,986.99 crore in FY24 to ₹2,270.17 crore in FY25 and further to ₹2,632.36 crore in FY26.
• Net worth increased from ₹473.44 crore in FY24 to ₹574.58 crore in FY25 and ₹725.41 crore in FY26.
• Total borrowings rose from ₹393.75 crore in FY24 to ₹502.95 crore in FY25, and jumped further to ₹828.23 crore in FY26 — an increase of roughly 65% over FY25.

Source: RHP, Laser Power & Infra Limited

Laser Power & Infra Key Strengths

1. Growing presence in power cables and conductors: The company has shown consistent income growth on the back of rising demand from the power and infrastructure segments.
2. Rising profitability despite revenue dip: PAT grew from ₹40.41 crore in FY24 to ₹151.59 crore in FY26, even as revenue eased slightly in the final year.
3. Strong manufacturing infrastructure: Three manufacturing units strategically located in West Bengal, with a combined capacity of 73,100 MT, support production efficiency and supply chain logistics.
4. EPC implementation capability: The company has demonstrated the ability to execute large-scale power infrastructure projects and has built backward integration into its EPC business.
5. Healthy return ratios: ROE of 23.32%, ROCE of 17.83% and RoNW of 20.90% indicate reasonably efficient use of capital.

Laser Power & Infra Key Risks

1. Customer concentration risk: A large portion of revenue comes from top customers, and the loss of any major customer could hurt business operations and cash flows.
2. Dependence on the manufacturing segment: A large share of revenue comes from the sale of power cables and conductors, making the company vulnerable to any downturn in this segment.
3. Rising borrowings: Total borrowings jumped from ₹502.95 crore in FY25 to ₹828.23 crore in FY26, pushing up the debt-to-equity ratio to 1.10.
4. Raw material price volatility: Changes in the prices or availability of key raw materials can affect costs, profit margins and project timelines.

Laser Power & Infra IPO Review: Our Take

Laser Power & Infra operates in the power cables and conductors segment and has expanded into EPC execution for power distribution infrastructure — a business that benefits from India's ongoing rural electrification and grid-strengthening push. The company has shown consistent profit growth, even as revenue eased slightly in FY26 after a sharp prior-year jump.

At the same time, borrowings have risen notably in FY26, and a meaningful part of the fresh issue proceeds — ₹490 crore — is earmarked for prepayment or repayment of existing borrowings. The company also operates in a competitive space alongside larger, more established peers. The valuation, subscription demand, GMP trend and full risk disclosures in the RHP should be considered together.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

Laser Power & Infra IPO Allotment Status

Allotment is tentatively expected around July 14, 2026, with listing tentatively scheduled for July 16, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites
• The registrar's website (MUFG Intime India Pvt. Ltd.)

You'll need your PAN, application number or Demat account details.

Check the Laser Power & Infra IPO allotment status on IPO Ji for quick updates.

How to Apply for Laser Power & Infra IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Laser Power & Infra IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works.

Kusumgar IPO is a mainboard issue from a Mumbai-based engineered fabrics manufacturer that has spent over three decades supplying specialised technical textiles to the aerospace, defence, industrial and lifestyle sectors.

Kusumgar operates in a specialised manufacturing segment that the offer documents describe as having high entry barriers. The company recorded strong growth through FY25, although revenue and profit declined in FY26. The ₹650 crore IPO is entirely an Offer for Sale, so Kusumgar Limited will not receive any proceeds from the issue. 

For live GMP, subscription numbers and the application link, visit the Kusumgar IPO page on IPO Ji.

Kusumgar IPO — Quick Overview

The issue is entirely an Offer for Sale by the promoter group — Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar and the Siddharth Yogesh Kusumgar HUF. That means every rupee raised goes to these selling shareholders, and the company itself receives no fresh capital from the listing. Kusumgar has also set aside shares worth ₹3.5 crore for eligible employees, offered at a ₹39 discount to the final issue price. The net offer is split 50% for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.Bigshare Services Pvt. Ltd. is the registrar, while Axis Capital Ltd., IIFL Capital Services Ltd. and Motilal Oswal Investment Advisors Ltd. are the lead managers for the Kusumgar IPO.

For the complete lot-size table, live subscription tracker and application link, see the Kusumgar IPO detail page on IPO Ji.

Kusumgar IPO GMP

(as of 10 July 2026 11:00 AM IST)

Kusumgar IPO GMP today is around ₹150–₹151 per share, which implies an estimated listing price of ₹569 -  ₹570  — roughly at  36% premium over the upper price band of ₹419.

Grey Market Premium is an unofficial, sentiment-driven number — not a forecast of listing gains, and not something to rely on by itself. Treat it as one data point alongside the company's financials and subscription demand.

Check the Kusumgar IPO GMP on IPO Ji for real-time updates as they show up.

About Kusumgar Limited

Kusumgar Limited, incorporated in 1990, manufactures woven, coated and laminated synthetic fabrics used across aerospace and defence, industrial and automotive, and outdoor and lifestyle applications. Its portfolio include more than 1,000 fabric SKUs, and various finished products such as parachutes, camouflage materials and rapid-deployment systems.

The company operates six manufacturing plants in Gujarat and one fabrication facility in Uttar Pradesh, with its headquarters in Mumbai. Its listed peers include Garware Technical Fibres, Arvind Limited and SRF Limited, although these companies are larger and more diversified than Kusumgar.

Kusumgar Financial Performance

• Kusumgar’s total income increased from ₹474.55 crore in FY24 to ₹790.21 crore in FY25, before declining by approximately 10% to ₹711.78 crore in FY26.
• Profit after tax rose from ₹84.40 crore in FY24 to ₹111.99 crore in FY25. However, it declined by about 12% to ₹98.20 crore in FY26.
• The company’s total assets increased from ₹584.74 crore in FY24 to ₹632.40 crore in FY25 and further rose significantly to ₹905.07 crore in FY26.
• Total borrowings rose sharply from ₹76.53 crore in FY24 to ₹246.50 crore in FY25. However, borrowings declined moderately to ₹223.58 crore in FY26.Source RHP Kusumgar limited

Kusumgar Key Strengths

1. Strong FY25 growth: Total income increased from ₹474.55 crore in FY24 to ₹790.21 crore in FY25, while PAT rose from ₹84.40 crore to ₹111.99 crore.
2. Strengthening net worth: Net worth grew from ₹140.36 crore in FY24 to ₹257.75 crore in FY25 and further to ₹502.95 crore in FY26.
3. Expanding asset base: Total assets increased from ₹584.74 crore in FY24 to ₹632.40 crore in FY25 and ₹905.07 crore in FY26.
4. Stable operating performance: EBITDA rose from ₹131.85 crore in FY24 to ₹188.39 crore in FY25 and remained stable at ₹187.85 crore in FY26.
5. Specialised and diversified business: The company has over three decades of experience, more than 1,000 fabric SKUs and exposure across defence, aerospace, automotive, industrial and lifestyle segments.

Kusumgar key Weaknesses

1. Decline in FY26 performance: Total income fell by around 10% to ₹711.78 crore, while PAT declined by approximately 12% to ₹98.20 crore.
2. Sharp rise in borrowings: Total borrowings increased from ₹76.53 crore in FY24 to ₹246.50 crore in FY25 and remained elevated at ₹223.58 crore in FY26.
3. Entirely an Offer for Sale: The company will not receive any proceeds from the IPO, limiting the issue’s direct benefit for expansion or debt reduction.
4. Dependence on defence contracts: Exposure to government procurement cycles, project delays and approval timelines may lead to revenue fluctuations.
5. Competition from larger peers: Companies such as Garware Technical fibres , Arvind and SRF have greater scale and diversification, which may affect Kusumgar’s pricing and competitive position.

Kusumgar IPO Review: Our Take

Kusumgar operates in a specialised segment of the textiles industry and has expanded from engineered fabrics into finished aerospace and defence products. The company recorded strong growth through FY25, supported by long-standing promoter involvement and professional management experience.

However, revenue and profit declined in FY26, marking a change from the earlier growth trend. The IPO is also entirely an Offer for Sale, so the company will not receive any proceeds for expansion, debt reduction or working-capital needs. The valuation, subscription data, GMP and risk disclosures in the RHP should therefore be considered together.

Investors should review the financials, peer valuations, and their own risk appetite before making a decision. This content is for informational purposes only and does not constitute investment advice. Please consult a SEBI-registered investment advisor before applying.

Kusumgar IPO Allotment Status

Allotment is tentatively expected around July 13, 2026, with listing tentatively scheduled for July 15, 2026 on BSE and NSE. Once finalised, check your status via:

• The IPO Ji app or website
• BSE or NSE websites

You'll need your PAN, application number or Demat account details.

Check the Kusumgar IPO allotment status on IPO Ji for quick updates.

How to Apply for Kusumgar IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Kusumgar IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works.

FAQs on Kusumgar IPO

SBI Mutual Fund, India’s largest asset manager, is reportedly preparing for a listing at a valuation of around $12.3 billion. The IPO is expected to be an offer for sale, with existing shareholders selling part of their stakes.

Given the company’s scale and market position, the issue is likely to attract interest. However, the key question will be whether the expected valuation is supported by its financial performance and growth prospects.

Quick Overview: SBI Mutual Fund IPO

Price band and exact listing dates weren't out at the time of writing. Both are expected once the RHP is filed, likely in the first week of July 2026. We'll update this the moment they drop.

Why Is a Company That Doesn't Need Money Going Public?

That's the part most people get wrong about this IPO. This is a 100% Offer for Sale. Every single share sold goes from the current owners, SBI and Amundi, straight to public investors. SBI Funds Management itself doesn't see a single rupee of the proceeds.

So why do it? Simple. When you're the market leader and the numbers have never looked better, that's exactly when you cash in some value. SBI and Amundi are putting a real, market-tested price on a business that's been sitting off the public radar for years. It also fits a pattern you'll notice across SBI's group companies, a slow, steady march to unlock value from strong subsidiaries. This would be the third one to list, after SBI Cards and SBI Life Insurance.

Just How Big Is This Company?

This is where the story gets interesting. As of December 2025, SBI Mutual Fund managed close to ₹12.49 lakh crore in quarterly average assets, holding a 15.4% share of the entire Indian mutual fund industry, a lead it's held since 2021. India's whole mutual fund industry manages about ₹81.6 lakh crore. That means one single company controls almost one out of every seven rupees invested in mutual funds nationwide.

And it's not just plain mutual funds:

• Passive funds: India's largest passive fund manager, commanding a 29.6% market share with close to ₹3.99 lakh crore in passive assets.
• Portfolio Management Services (PMS): Third-largest in the country across both non-discretionary and discretionary categories.
• Global reach: Roughly ₹2.67 lakh crore in assets managed or advised through its tie-up with Amundi.
• Digital footprint: Its InvesTap app has close to 3.78 million registered users, and its services are built right into SBI's YONO banking app.

Do the Financials Back Up a ₹1.17 lakh Crore Price Tag?

The company has been growing, and growing profitably.

• Revenue climbed from ₹2,161.6 crore in FY23 to ₹3,597.8 crore in FY25, a two-year growth rate of roughly 29% annually.
• Return on equity is  at 33.8% in FY25, a strong number by any industry standard.
• Nine-month profit through December 2025 was already close to ₹2,432.9 crore, nearly matching the entire previous year's profit.
• The company carries zero debt, with a FY25 net worth of around ₹830 crore.

So Where Does All the IPO Money Actually Go?

Not into the company, that's the key thing to remember. Since this is entirely an Offer for Sale, every rupee raised goes to SBI and Amundi as they trim their combined ownership by about 10%. The company's own cash, operations, and balance sheet don't change because of this listing. What changes is that the business now has a public price tag, and eventually, tradeable shares.

Who's Running the Show?

Nine banks are managing this issue, Kotak Mahindra Capital, Axis Capital, BofA Securities India, HSBC Securities, ICICI Securities, Jefferies India, JM Financial, Motilal Oswal, and SBI Capital Markets. That's an unusually large banking team, which tells you how big and closely watched this listing really is. KFin Technologies is handling the registrar duties.

When Can You Actually Apply?

Here's the timeline as it stands:

1. DRHP filed — March 19, 2026 (done)
2. SEBI clearance — received
3. RHP and price band announcement — expected first week of July 2026
4. Subscription window opens — likely mid-July
5. Listing on BSE and NSE — expected in the weeks after

Nothing here is locked in stone yet. We'll flag the update the second the price band is confirmed.

This article is for informational and educational purposes only and does not constitute investment advice. IPO terms including price band, dates, and issue size are subject to change until officially confirmed by the company. Please read the official RHP and consult a SEBI-registered financial adviser before making any investment decisions.

Track live updates on the SBI Mutual Fund IPO, including price band, subscription status, and allotment, on the IPO Ji app.

After a cautious few months amid global uncertainty, market sentiment appears to be improving ahead of July. With geopolitical tensions easing and crude oil prices showing greater stability, several large issuers that had delayed their plans may now consider launching their public offerings. As a result, July’s mainboard IPO pipeline could see increased activity.

Here’s a quick look at the companies expected to open for subscription.

SBI Funds Management IPO

The big one. SBI Funds Management is targeting a large issue and currently holds the top spot in India's asset management space by market share. The IPO will be closely watched as a test of investor appetite for institutional-scale offerings.

Zepto IPO

The quick-commerce major is moving toward one of the most anticipated listings of the year, with its issue structured as a mix of fresh capital and an offer for sale. The proceeds are expected to go toward expanding its dark store network and supply chain infrastructure.

OYO (Prism)

OYO's parent company, Prism, has just filed its Updated DRHP for a ₹6,650 crore fresh issue, with no offer-for-sale component. Most of the proceeds are earmarked for debt repayment. The price band and subscription dates haven't been set yet, but with the UDRHP now public, OYO's long-awaited third attempt at listing is finally moving toward a concrete timeline — likely later in the year rather than within July itself.

Manipal Hospitals IPO

One of India's largest multi-specialty hospital chains is preparing a sizeable issue combining a fresh raise with an offer for sale, as healthcare valuations continue to re-rate post-pandemic.

Kusumgar IPO

A specialised manufacturer of engineered synthetic fabrics used in aerospace, defence, and outdoor applications, Kusumgar's issue is structured as a full offer for sale by the promoters.

TruHome Finance IPO

Backed by Warburg Pincus, TruHome operates in the affordable housing finance space and is bringing a book-built issue split evenly between a fresh issue and an OFS, aimed at strengthening its lending capital base.

Symbiotec Pharmalab IPO

An API (Active Pharmaceutical Ingredients) manufacturer with a global export footprint, Symbiotec's issue is mostly an offer for sale, with a smaller fresh issue component earmarked for debt reduction.

Dhoot Transmission IPO

Backed by Bain Capital, this auto components manufacturer focused on wiring harnesses and electronics is bringing a fresh issue + OFS of up to 1.63 crore shares to fund debt repayment and expansion.

InCred Holdings IPO

InCred’s UDRHP presents the company as a diversified non-banking financial services platform with operations spanning lending, wealth technology, and capital markets. Its business model reflects a broader financial services approach, with offerings designed to serve different customer segments across these areas.

The bigger picture

Taken together, July's mainboard pipeline spans asset management, quick-commerce, healthcare, housing finance, pharma, auto components, and fintech — a genuinely broad cross-section of the market. Exact dates and price bands for most of these issues are still being finalised, so timelines could shift.

We'll keep this updated as opening dates and price bands get confirmed through the month.

OYO's parent company, PRISM (formerly Oravel Stays), has filed its Updated Draft Red Herring Prospectus (UDRHP) with SEBI, taking another step toward its public listing. This comes after the company received SEBI's approval earlier this month, following its confidential pre-filing in December 2025.

Here's a quick breakdown of what's changed and what the updated filing says.

Issue Structure

The IPO will be a 100% fresh issue worth up to ₹6,650 crore, with no Offer for Sale (OFS) component. This means existing shareholders — including SoftBank, founder Ritesh Agarwal, Microsoft, Airbnb, Peak XV, Lightspeed, Greenoaks and Khazanah — will not be selling any shares as part of this issue, and existing shareholders will not receive any proceeds because there is no OFS. However, their percentage shareholding will be diluted due to the issuance of new equity shares. 

The company may also carry out a pre-IPO placement of up to ₹1,330 crore. If this goes through, it would reduce the overall size of the fresh issue accordingly.

Key details from the filing:

• Face Value: ₹1 per share
• Retail Portion: 10% of the issue
• Listing: NSE and BSE

Lead Managers

PRISM has appointed eight book-running lead managers for the issue:

Axis Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, ICICI Securities, SBI Capital Markets, JM Financial, InCred Capital, and Intensive Fiscal Services.

Use of Proceeds

According to the filing, PRISM plans to use ₹4,987.5 crore of the net proceeds to repay or prepay borrowings, with the remaining amount earmarked for general corporate purposes.

Shareholding Pattern

As per the DRHP, SoftBank remains the largest shareholder with a 40.04% stake. Founder Ritesh Agarwal holds a combined 26.71% through RA Hospitality Holdings and in his personal capacity. Other notable holders include the Oravel Employee Welfare Trust (5.39%), Patient Capital (3.81%), Five Star Capital (2.77%), Lightspeed (1.74%), Airbnb (1.22%), and Peak XV Partners (1.06%).

Financial Performance

The updated filing comes on the back of a sharp improvement in financials. For the first nine months of FY26, PRISM reported:

• Revenue from operations: ₹6,941 crore
• Net profit: PRISM reported a net profit of ₹748 crore for the first nine months of FY26, compared with ₹245 crore for the full FY25. 

Business Scale

PRISM operates 43 brands across 35+ countries. As of December 31, 2025, its network included:

• 24,303* hotels
• 1,24,668* homes
• 1,48,971* total listings

In India, the company-serviced hotel business expanded to 1,573 storefronts, up from 1,053 at the end of FY25, now contributing nearly half of India's gross booking value (GBV).

On the international side, the US business contributed over 52% of global GBV in the nine-month period, following the G6 Hospitality acquisition, while the European homes business also saw significant growth. Direct channels accounted for 67.6% of stays, backed by a combined loyalty base of 26.4 million members across OYO Wizard and My6.

*As of December 31, 2025, per UDRHP

Valuation Expectations

PRISM is reportedly targeting a valuation in the $7-8 billion range — lower than what it had eyed during its previous listing attempt in 2021.

📲 Track every update on the OYO IPO — issue dates, price band, GMP and more — on the IPO Ji App Store / Play Store and Website.

Aastha Spintex IPO is a mainboard issue from a Gujarat-based cotton yarn manufacturer that has been building an integrated spinning and ginning business in Saurashtra since 2013. It runs on renewable energy, sells yarn into denim, terry towels, apparel and home textile end-markets, and is now raising capital primarily to acquire a larger peer.

For live GMP, subscription numbers and the application link, visit the Aastha Spintex IPO page on IPO Ji.

Aastha Spintex IPO — Quick Overview

The issue is 100% fresh — there is no Offer for Sale component, so every rupee raised goes to the company, not to promoters or early investors cashing out.

For the complete lot-size table, live subscription tracker and application link, see the Aastha Spintex IPO detail page on IPO Ji.

Aastha Spintex IPO GMP

(as of 23rd June 2026)

There is no reliable Aastha Spintex IPO GMP to report yet. The IPO opens on June 29, 2026, and grey market activity tends to firm up only once bidding begins and subscription numbers start coming in.

Grey Market Premium is an unofficial, sentiment-driven number — not a forecast of listing gains, and not something to apply on by itself. Check the Aastha Spintex IPO GMP on IPO Ji for real-time updates as they show up.

About Aastha Spintex

Aastha Spintex Limited was incorporated in August 2013 as a private limited company and converted to a public limited company in February 2025. It manufactures and distributes carded, combed, and compact combed cotton yarns and cotton bales from a single integrated manufacturing facility spread across 65,762 sq. mtr. on the Halvad Maliya Highway in Halvad, Morbi district, Gujarat.

The company's yarn products are used across knitting and weaving applications covering a wide range of end-uses: denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles and industrial fabrics. Cotton bales produced internally are used both for captive spinning and sold to other spinning companies.

One of Aastha Spintex's defining operational choices is powering its manufacturing facility entirely through solar and wind energy, which it positions as both a sustainability measure and a cost-management tool against fluctuating conventional energy prices. The company also highlights a 70% female workforce, reflecting a stated commitment to inclusivity.

Sales within Gujarat are made directly to customers. For markets outside Gujarat and exports, the company routes sales through a single reseller, 7 Seas Impex, which handles trade documentation and export compliance — a structurally important arrangement that is also one of the most significant risk factors in this IPO.

Aastha Spintex Financial Performance

Aastha Spintex has demonstrated meaningful revenue growth and improving profitability over the past three fiscal years:

• Total income grew from ₹239.69 crore in FY23 to ₹305.67 crore in FY24 and ₹352.17 crore in FY25.
• Profit after tax improved sharply from ₹1.06 crore in FY23 to ₹16.29 crore in FY24 and ₹22.92 crore in FY25.
• For the nine months ended December 31, 2025, total income stood at ₹314.02 crore and PAT was ₹17.56 crore.
• Net worth has grown substantially: from ₹60.01 crore in FY23 to ₹121.05 crore in FY25 and ₹153.18 crore as of December 31, 2025.
• Total assets stood at ₹331.66 crore as of December 31, 2025.

The trajectory on both revenue and profitability is positive. However, investors should note that the company has also reported negative cash flows in the past, a risk factor explicitly disclosed in the RHP.

Aastha Spintex Key Strengths

• Integrated ginning and spinning facility under one roof, enabling operational control across the production chain
• Fully renewable energy-powered manufacturing (solar and wind), reducing exposure to conventional energy cost volatility
• Strong revenue trajectory: from ₹239.69 crore in FY23 to ₹352.17 crore in FY25
• Significant PAT improvement from ₹1.06 crore in FY23 to ₹22.92 crore in FY25
• Diverse end-use sectors including denim, home textiles, apparel, industrial fabrics and terry towels
• 70% female workforce, demonstrating operational scalability with inclusive employment practices

Aastha Spintex Key Risks

• Acquisition risk — a significant portion of IPO proceeds (₹111.51 crore out of ₹170 crore) is earmarked for the acquisition of Falcon Yarns Private Limited at ₹33.33 per share, versus Falcon's own buyback price of ₹14.46 per share in September 2024. The acquisition price is supported by an independent valuation report, but the premium warrants scrutiny.
• The entire business depends on a single manufacturing facility in Halvad; any operational disruption could materially affect results.
• Negative cash flows have occurred in the past and may recur.
• Raw material sourcing relies on a limited number of suppliers of raw cotton and cotton bales.

Aastha Spintex IPO — Use of Proceeds

The issue is entirely a fresh issue of ₹170 crore. As per the RHP, the primary object of the issue is:

• ₹111.51 crore for part payment of the acquisition consideration for Falcon Yarns Private Limited (33,453,508 equity shares at ₹33.33 per share, totalling ₹131.51 crore, of which ₹20 crore is to be paid from internal accruals)
• Remaining proceeds for general corporate purposes

The Falcon Yarns acquisition is the dominant use of IPO funds and makes this less of a conventional capacity-expansion story and more of a consolidation play in the cotton yarn sector.

Aastha Spintex IPO Allotment Status

Allotment is tentatively expected on July 2, 2026. Once finalised, check your status via:

• The IPO Ji app or website
• Bigshare Services' allotment portal
• BSE or NSE websites

You will need your PAN, application number or Demat account details.

Check the Aastha Spintex IPO allotment status on IPO Ji for quick updates.

How to Apply for Aastha Spintex IPO on IPO Ji

1. Open the IPO Ji App (Play Store/App Store) or visit ipoji.com.
2. Search for Aastha Spintex IPO.
3. Review the price band, lot size and dates.
4. Select your Demat account and enter the number of lots.
5. Submit using your registered UPI ID and approve the mandate before the deadline.

The application amount stays blocked in your account and is debited only on allotment. ASBA via net banking or a supported broker also works.

Disclaimer

This article is for informational and educational purposes only. It should not be treated as investment advice or as a recommendation to apply for, buy, or sell any IPO or security. IPO investments involve market risk, so please read the RHP carefully and verify changing details such as GMP, subscription levels, allotment status, and listing dates from official sources before making a decision. Consider speaking with a SEBI-registered investment adviser if you need personalised guidance.

The financial information used in this article has been taken from the Aastha Spintex RHP dated June 18, 2026.