Open & Upcoming IPOs

Vikran Engineering's IPO received 20 times subscription on its final day, with 114 crore shares bid against 5.87 crore shares. Non-institutional investors' quota garnered 52 times subscription, Retail Individual Investors' quota got 10 times, and Qualified Institutional Buyers' quota got 12 times subscription. The shares commanded a grey market premium (GMP) of Rs 6 or 6.19% listing gain.

Abril Paper Tech's Rs 13.42-crore IPO opened for public subscription on August 29 with a price fixed at Rs 61 per share. The issue will conclude on September 2, and shares will be listed on BSE's SME platform on September 5. Proceeds will fund machinery, working capital, and general corporate purposes, and the company reported Rs 60.91 crore revenue in FY25.

Anlon Healthcare's Rs 121-crore mainboard IPO, subscribed 4.6 times, is set to close. Retail investors booked the reserved portion 31 times, while QIBs and NIis subscribed portions 4.45 and fully, respectively. The IPO price is at Rs 86-91 per share, with proceeds going towards manufacturing facility expansion, working capital, and debt repayment.

ARC Insulation shares listed at ₹145, a 16% premium to its issue price of ₹125, on the NSE SME exchange due to strong investor participation. The ₹41.19-crore IPO was subscribed 18.71 times, with retail participation 17.27 times and QIB subscription 15.12 times. The company raised ₹11.71 crore from anchor investors and plans to use IPO proceeds for expansion, debt repayment.

ARC Insulation and Insulators is making its stock market debut on the NSE SME platform on Friday after a Rs 41.19 crore IPO, subscribed 18.71 times with retail quota seeing 17.27 times bids. The IPO is commanding a grey market premium of 48% over its upper price band. Proceeds will be used for capital expenditure and working capital. Revenue rose 15% to Rs 33.15 crore in FY25.

NIS Management's IPO was subscribed 2.95 times, attracting 1.15 crore shares worth Rs 60 crore. Globtier Infotech's IPO was subscribed 1.32 times, 56.94 lakh shares worth Rs 31.05 crore. Both companies will finalize their share allotment by August 29, with trading to begin on BSE SME on September 2. NIS Management seeks Rs 220 crore, Globtier Rs 109 crore valuation.

Goel Construction Company plans to launch a Rs 100-crore IPO on September 2, with a price band of Rs 250-262 per share. It aims to raise Rs 99.77 crore, reserving 50% for QIBs, 35% for retail investors, and 15% for NII. The IPO will close on September 4, with allotment finalised by September 8 and listing on September 10.

Vikran Engineering's IPO has seen robust subscription on Day 2, with 24.33 crore shares bid for against 5.87 crore shares offered, translating to 4.14 times overall subscription. Non-institutional investors subscribed 8.56 times, retail investors 4.26 times, and qualified institutional buyers 63%. The IPO aims to raise Rs 772 crore at Rs 92-97 per share.

Anlon Healthcare's Rs 121-crore IPO saw strong investor interest, subscribed nearly 3 times its offer size on the second day, with retail investors booking 18 times their reserved portion. Non-Institutional Investors subscribed 1.5 times, while Qualified Institutional Buyers booked 92% of their reserved portion.

Retail investors participated in large numbers in at least 10 IPOs, with cumulative retail applications exceeding Rs 10K cr. Despite SEBI's initial proposal to reduce retail quota, data shows retail response is robust in attractively priced issues, with instances of over Rs 40K cr in retail bids, including Rs 16,470 crore in Waaree Energies' IPO in 2023, and Rs 10,500 cr in NSDL's recent IPO.

Mangal Electrical Industries shares listed at ₹556 (0.89% discount) on NSE and ₹558 (0.5% discount) on BSE, following a 9.95 times-subscribed IPO. The public issue raised ₹400 crore, with 4.96 crore bids against 49.91 lakh shares on offer. Subscription was highest in NIIs at 19.78 times, retail at 5.09 times, and QIBs at 11.09 times.

Austere Systems, a Pune-based IT services provider, set its initial public offering (IPO) for public subscription from September 3 to 8 with a price band of Rs 52-55 per share. The IPO aims to raise Rs 15.56 crore, with half reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Sharvaya Metals, a manufacturer of aluminum products, will begin accepting subscriptions for its initial public offering (IPO) on September 4th, with a price range of Rs 192-196 per share. On September 9, the public issue will end. By September 10, the firm will finalize its IPO share allocation, and on September 12, its shares will be traded on the BSE SME.

Mangal Electrical shares will debut on Indian stock exchanges on August 28 after its IPO was subscribed 9.46 times. The IPO raised Rs 120 crore and the issue was valued at 26-28 times FY24 earnings, with ROCE above 18 percent and EBITDA margins of nearly 12 percent. Shares are quoting at a 3-6 percent premium in the grey market, indicating expectations of a measured debut.

Veritas Finance Ltd, backed by PE and Kedaara Capital, has delayed its ₹2,800-crore IPO due to US tariffs on Indian exports-focused MSMEs. A 50% tariff on Indian exports came into effect, impacting sectors like textiles, gems and jewelry, and seafood, which account for 25% of India's exports to the US. The loan book of Veritas grew 62% in FY 24.

Mangal Electrical's unlisted shares trade flat in grey markets ahead of IPO listing on August 28, with a grey market premium (GMP) of 0.53-0.71%. Vikran Engineering's GMP is 13.4-14.43%, while Anlon Healthcare's GMP is 5.5-6.59%. Mangal Electrical's IPO was subscribed 9.5 times, Vikran Engineering's was subscribed 2 times, and Anlon Healthcare's was subscribed 1.7 times.

Vikram Solar shares ended with a 5.77% gain on its debut, listing at Rs 338 and rising to Rs 381.65. Its IPO was subscribed 54.63 times, with a market valuation of Rs 12,931.38 crore. Meanwhile, Patel Retail, Gem Aromatics, and Shreeji Shipping Global closed lower, with benchmark indices dropping 849 points to 80,989.

Ardee Engineering received Sebi approval to float a Rs 580 crore IPO, comprising a mix of fresh issuance and an offer-for-sale. The IPO involves a fresh issue of Rs 500 crore and an offer-for-sale of Rs 80 crore by promoter Chandra Sekhar Moturu. Funds will be used for manufacturing facilities expansion and general corporate purposes.

Vikran Engineering Ltd, an Indian EPC company, offers end-to-end services across power, water, and railway sectors. Key differentiators include in-house design expertise and proven project execution efficiency. Its initial IPO is priced at 17.3x TTM EV/EBITDA, significantly lower than its peer average of 32.0x, earning a "SUBSCRIBE" rating based on attractive pricing.

Anlon Healthcare's Rs 121-crore IPO opened for public bidding. The issue is 50% subscribed on Day 1 with bids for 67 lakh shares against 1.33 crore shares. Retail investors booked nearly 5 times their reserved portion. Non-Institutional Investors (NII) subscribed 23%. Qualified Institutional Buyers (QIBs) have yet to make a substantial bid. Shares to debut on BSE and NSE on September 3.

Vikran Engineering's IPO received 20 times subscription on its final day, with 114 crore shares bid against 5.87 crore shares. Non-institutional investors' quota garnered 52 times subscription, Retail Individual Investors' quota got 10 times, and Qualified Institutional Buyers' quota got 12 times subscription. The shares commanded a grey market premium (GMP) of Rs 6 or 6.19% listing gain.

Abril Paper Tech's Rs 13.42-crore IPO opened for public subscription on August 29 with a price fixed at Rs 61 per share. The issue will conclude on September 2, and shares will be listed on BSE's SME platform on September 5. Proceeds will fund machinery, working capital, and general corporate purposes, and the company reported Rs 60.91 crore revenue in FY25.

Anlon Healthcare's Rs 121-crore mainboard IPO, subscribed 4.6 times, is set to close. Retail investors booked the reserved portion 31 times, while QIBs and NIis subscribed portions 4.45 and fully, respectively. The IPO price is at Rs 86-91 per share, with proceeds going towards manufacturing facility expansion, working capital, and debt repayment.

ARC Insulation shares listed at ₹145, a 16% premium to its issue price of ₹125, on the NSE SME exchange due to strong investor participation. The ₹41.19-crore IPO was subscribed 18.71 times, with retail participation 17.27 times and QIB subscription 15.12 times. The company raised ₹11.71 crore from anchor investors and plans to use IPO proceeds for expansion, debt repayment.

ARC Insulation and Insulators is making its stock market debut on the NSE SME platform on Friday after a Rs 41.19 crore IPO, subscribed 18.71 times with retail quota seeing 17.27 times bids. The IPO is commanding a grey market premium of 48% over its upper price band. Proceeds will be used for capital expenditure and working capital. Revenue rose 15% to Rs 33.15 crore in FY25.

NIS Management's IPO was subscribed 2.95 times, attracting 1.15 crore shares worth Rs 60 crore. Globtier Infotech's IPO was subscribed 1.32 times, 56.94 lakh shares worth Rs 31.05 crore. Both companies will finalize their share allotment by August 29, with trading to begin on BSE SME on September 2. NIS Management seeks Rs 220 crore, Globtier Rs 109 crore valuation.

Goel Construction Company plans to launch a Rs 100-crore IPO on September 2, with a price band of Rs 250-262 per share. It aims to raise Rs 99.77 crore, reserving 50% for QIBs, 35% for retail investors, and 15% for NII. The IPO will close on September 4, with allotment finalised by September 8 and listing on September 10.

Vikran Engineering's IPO has seen robust subscription on Day 2, with 24.33 crore shares bid for against 5.87 crore shares offered, translating to 4.14 times overall subscription. Non-institutional investors subscribed 8.56 times, retail investors 4.26 times, and qualified institutional buyers 63%. The IPO aims to raise Rs 772 crore at Rs 92-97 per share.

Anlon Healthcare's Rs 121-crore IPO saw strong investor interest, subscribed nearly 3 times its offer size on the second day, with retail investors booking 18 times their reserved portion. Non-Institutional Investors subscribed 1.5 times, while Qualified Institutional Buyers booked 92% of their reserved portion.

Retail investors participated in large numbers in at least 10 IPOs, with cumulative retail applications exceeding Rs 10K cr. Despite SEBI's initial proposal to reduce retail quota, data shows retail response is robust in attractively priced issues, with instances of over Rs 40K cr in retail bids, including Rs 16,470 crore in Waaree Energies' IPO in 2023, and Rs 10,500 cr in NSDL's recent IPO.

Mangal Electrical Industries shares listed at ₹556 (0.89% discount) on NSE and ₹558 (0.5% discount) on BSE, following a 9.95 times-subscribed IPO. The public issue raised ₹400 crore, with 4.96 crore bids against 49.91 lakh shares on offer. Subscription was highest in NIIs at 19.78 times, retail at 5.09 times, and QIBs at 11.09 times.

Austere Systems, a Pune-based IT services provider, set its initial public offering (IPO) for public subscription from September 3 to 8 with a price band of Rs 52-55 per share. The IPO aims to raise Rs 15.56 crore, with half reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Sharvaya Metals, a manufacturer of aluminum products, will begin accepting subscriptions for its initial public offering (IPO) on September 4th, with a price range of Rs 192-196 per share. On September 9, the public issue will end. By September 10, the firm will finalize its IPO share allocation, and on September 12, its shares will be traded on the BSE SME.

Mangal Electrical shares will debut on Indian stock exchanges on August 28 after its IPO was subscribed 9.46 times. The IPO raised Rs 120 crore and the issue was valued at 26-28 times FY24 earnings, with ROCE above 18 percent and EBITDA margins of nearly 12 percent. Shares are quoting at a 3-6 percent premium in the grey market, indicating expectations of a measured debut.

Veritas Finance Ltd, backed by PE and Kedaara Capital, has delayed its ₹2,800-crore IPO due to US tariffs on Indian exports-focused MSMEs. A 50% tariff on Indian exports came into effect, impacting sectors like textiles, gems and jewelry, and seafood, which account for 25% of India's exports to the US. The loan book of Veritas grew 62% in FY 24.

Mangal Electrical's unlisted shares trade flat in grey markets ahead of IPO listing on August 28, with a grey market premium (GMP) of 0.53-0.71%. Vikran Engineering's GMP is 13.4-14.43%, while Anlon Healthcare's GMP is 5.5-6.59%. Mangal Electrical's IPO was subscribed 9.5 times, Vikran Engineering's was subscribed 2 times, and Anlon Healthcare's was subscribed 1.7 times.

Vikram Solar shares ended with a 5.77% gain on its debut, listing at Rs 338 and rising to Rs 381.65. Its IPO was subscribed 54.63 times, with a market valuation of Rs 12,931.38 crore. Meanwhile, Patel Retail, Gem Aromatics, and Shreeji Shipping Global closed lower, with benchmark indices dropping 849 points to 80,989.

Ardee Engineering received Sebi approval to float a Rs 580 crore IPO, comprising a mix of fresh issuance and an offer-for-sale. The IPO involves a fresh issue of Rs 500 crore and an offer-for-sale of Rs 80 crore by promoter Chandra Sekhar Moturu. Funds will be used for manufacturing facilities expansion and general corporate purposes.

Vikran Engineering Ltd, an Indian EPC company, offers end-to-end services across power, water, and railway sectors. Key differentiators include in-house design expertise and proven project execution efficiency. Its initial IPO is priced at 17.3x TTM EV/EBITDA, significantly lower than its peer average of 32.0x, earning a "SUBSCRIBE" rating based on attractive pricing.

Anlon Healthcare's Rs 121-crore IPO opened for public bidding. The issue is 50% subscribed on Day 1 with bids for 67 lakh shares against 1.33 crore shares. Retail investors booked nearly 5 times their reserved portion. Non-Institutional Investors (NII) subscribed 23%. Qualified Institutional Buyers (QIBs) have yet to make a substantial bid. Shares to debut on BSE and NSE on September 3.

Shreeji Shipping Global's share price fell over 4% after listing on BSE and NSE on August 26, despite a modest debut with the stock opening at ₹271.85 on BSE, a 7.14% premium to the IPO price of ₹252. The company listed with a market capitalization of over ₹4,428.93 crore and was subscribed over 58 times during a three-day bidding period.

Patel Retail debuted with a 19.6% premium over its issue price. The stock listed at Rs 305 (BSE) and Rs 300 (NSE), backed by a 95.69 times oversubscribed IPO raising Rs 242.76 crore. Proceeds will fund repayments, working capital requirements, and general corporate purposes. The company operates 43 stores across Maharashtra and Gujarat with Rs 826 crore FY25 revenue and Rs 25.28 crore net profit.

Vikran Engineering, a turnkey infrastructure projects company incorporated in 2008, has successfully completed 45 projects worth ₹19,199 mn as of June 30, 2025. The company has 44 ongoing projects worth ₹51,202 mn. It seeks a P/E of 32.1 times and a market cap of approximately Rs 25,017 mn. Its IPO is fully priced, but it's well-positioned for long-term growth in the infrastructure sector.

Vikran Engineering Ltd. (VEL) has a 32.17% CAGR revenue growth from FY23-25. The company offers turnkey services in power, water, and railway infrastructure. With a strong execution track record, VEL completed 45 projects worth Rs. 1,920 crore and has an active order book of Rs. 2,442 crore. The IPO is valued at Rs. 97 with a P/E multiple of ~32.12x on FY25 EPS of Rs. 3.02.

Vikran Engineering's ₹772-crore IPO opened on August 26 and closes on August 29. The grey market premium is 21.65% over the upper price band. Brokerage firms assign neutral and subscribe ratings, citing asset-light model, high profitability, and sector tailwinds. The IPO has a strong order book of over ₹2,000 crore and secured ₹231.6 crore from anchor investors.

Gem Aromatics debuted on stock markets at a 2.5% premium over IPO price at Rs 333.10 on NSE and 333.10 apiece at flat on BSE. The 451-crore IPO saw 30x subscription, trading 10.5% grey market premium ahead of listing. Key statistics include a price band of Rs 309-325, 11% revenue growth, 7% net profit expansion in FY25, and valuation of 31.8x P/E.

IPO Listing: Shreeji Shipping Global's shares listed on BSE at ₹271.85, a 8% premium over the IPO price, with a market cap of ₹4,428.93 crore. IPO received 58 times subscription and earned ₹411 crore at the upper end of the price band. Proceeds will fund dry bulk carrier acquisitions and debt repayment.

Vikram Solar shares listed at Rs 338 on NSE and Rs 340 on BSE, a 1.81% and 2.4% premium over IPO price. The Rs 2,079-crore IPO was subscribed 54.63 times. Market capitalization post listing stood at Rs 12,837.34 crore. Analyst Akhilesh Desai suggests short-term investors book profits, while long-term investors hold for sector-led growth.

Vikram Solar Ltd, a solar PV modules manufacturer, lists its equity shares on the Indian stock market today following strong investor demand in its IPO. The public issue opened on August 19 and closed on August 21, with allotment finalized on August 22. The debut comes after robust subscription interest, marking a key milestone for the company.

Mangal Electrical's Rs 400-crore IPO, subscribed 9.5 times, will likely see share allotments finalized by August 25. Shares are expected to debut on August 28, after the company raised Rs 120 crore from 10 anchor investors, with shares trading at a grey market premium of 2.67-3.39% over the IPO price.

SFC Environmental Technologies has refiled its draft IPO papers with SEBI to raise up to Rs 150 crore through fresh issuance and an offer-for-sale of 1.23 crore shares by existing shareholders. Funds will be used for borrowing repayment, working capital, and general corporate purposes. The company had withdrawn its IPO plans in March but plans to list this year.

Anlon Healthcare IPO in focus : Anlon Healthcare's initial public offering (IPO) opens for subscription from August 26 to August 29, aiming to raise ₹121 crore through 1.33 crore shares. The IPO price band is set at ₹86 to ₹91 per share, with retail investors required to invest a minimum of ₹14,924 per lot at the upper end.

Patel Retail's IPO saw 95.70 times subscription, with a Grey Market Premium indicating a premium listing. The company operates 43 stores in Maharashtra under 'Patel's R Mart', and plans to use IPO proceeds for debt repayment, working capital, and expansion. Narendra Solanki and Akhilesh Desai expect a premium listing and recommend partial profits for short-term investors.

Rachit Prints, a textile manufacturer, will launch its IPO on September 1, with the offer open until September 3. It plans to raise Rs 19.49 crore via 13.08 lakh shares at Rs 140-149 per share. The IPO funds will be used for working capital, machinery, debt repayment, and general corporate purposes. The share allotment will be finalized by September 4, with trading starting on September 8.

Oval Projects Engineering is set to open its maiden public issue for subscription on August 28, offering 54.99 lakh shares at Rs 80-85 per share. The company aims to raise Rs 46.74 crore for working capital and general corporate purposes. Profit increased by 112 percent to Rs 9.3 crore in 2025, with revenue growing 31.2 percent to Rs 102.3 crore.

Gem Aromatics' Rs 451-crore IPO was over-subscribed 30 times between August 19-21, with the price band set at Rs 309-325 per share. Unlisted shares traded with a grey market premium of 8-9% over the IPO price, signaling potential listing gains. The company reported 11% revenue growth in FY25 with diversified products, positioning it competitively in a niche global market.

Shreeji Shipping Global's Rs 411-crore IPO saw strong investor interest, being subscribed over 58 times between August 19 and August 21. The company's unlisted shares were trading with a 13.5% grey market premium, while experts expect a well-run company with strong profitability but stretched valuations. Investors advised to hold for long term, with potential for short-term listing gains.

Vikram Solar is set to list on the BSE and NSE on August 26, with investors expecting a 12.35% gain. Grey market premium suggests a decent listing at ₹373 per share, up from the IPO price band of ₹315-332. The ₹2,079-crore IPO was subscribed 54.63 times, driven by QIBs, NIIs, and retail investors, with proceeds for capex and selling shareholders' exits.

Mangal Electrical Industries' ₹400 crore IPO has received robust demand, subscribed 9.46 times, with various categories subscribed significantly more, such as NII at 18.79 times and QIB at 10.54 times. The IPO allotment status will be finalised on August 25 and available on BSE, Bigshare Services, and NSE websites.

OYO plans to file its Draft Red Herring Prospectus (DRHP) in November, aiming for a USD 7-8 billion valuation in its IPO. The company will approach its board with the proposal, with SoftBank, its largest shareholder, involved in the process. OYO's Q1 financial performance, which showed double-digit growth, will be showcased in the filing.

Vikran Engineering's IPO received 20 times subscription on its final day, with 114 crore shares bid against 5.87 crore shares. Non-institutional investors' quota garnered 52 times subscription, Retail Individual Investors' quota got 10 times, and Qualified Institutional Buyers' quota got 12 times subscription. The shares commanded a grey market premium (GMP) of Rs 6 or 6.19% listing gain.

Abril Paper Tech's Rs 13.42-crore IPO opened for public subscription on August 29 with a price fixed at Rs 61 per share. The issue will conclude on September 2, and shares will be listed on BSE's SME platform on September 5. Proceeds will fund machinery, working capital, and general corporate purposes, and the company reported Rs 60.91 crore revenue in FY25.

Anlon Healthcare's Rs 121-crore mainboard IPO, subscribed 4.6 times, is set to close. Retail investors booked the reserved portion 31 times, while QIBs and NIis subscribed portions 4.45 and fully, respectively. The IPO price is at Rs 86-91 per share, with proceeds going towards manufacturing facility expansion, working capital, and debt repayment.

ARC Insulation shares listed at ₹145, a 16% premium to its issue price of ₹125, on the NSE SME exchange due to strong investor participation. The ₹41.19-crore IPO was subscribed 18.71 times, with retail participation 17.27 times and QIB subscription 15.12 times. The company raised ₹11.71 crore from anchor investors and plans to use IPO proceeds for expansion, debt repayment.

ARC Insulation and Insulators is making its stock market debut on the NSE SME platform on Friday after a Rs 41.19 crore IPO, subscribed 18.71 times with retail quota seeing 17.27 times bids. The IPO is commanding a grey market premium of 48% over its upper price band. Proceeds will be used for capital expenditure and working capital. Revenue rose 15% to Rs 33.15 crore in FY25.

NIS Management's IPO was subscribed 2.95 times, attracting 1.15 crore shares worth Rs 60 crore. Globtier Infotech's IPO was subscribed 1.32 times, 56.94 lakh shares worth Rs 31.05 crore. Both companies will finalize their share allotment by August 29, with trading to begin on BSE SME on September 2. NIS Management seeks Rs 220 crore, Globtier Rs 109 crore valuation.

Goel Construction Company plans to launch a Rs 100-crore IPO on September 2, with a price band of Rs 250-262 per share. It aims to raise Rs 99.77 crore, reserving 50% for QIBs, 35% for retail investors, and 15% for NII. The IPO will close on September 4, with allotment finalised by September 8 and listing on September 10.

Vikran Engineering's IPO has seen robust subscription on Day 2, with 24.33 crore shares bid for against 5.87 crore shares offered, translating to 4.14 times overall subscription. Non-institutional investors subscribed 8.56 times, retail investors 4.26 times, and qualified institutional buyers 63%. The IPO aims to raise Rs 772 crore at Rs 92-97 per share.

Anlon Healthcare's Rs 121-crore IPO saw strong investor interest, subscribed nearly 3 times its offer size on the second day, with retail investors booking 18 times their reserved portion. Non-Institutional Investors subscribed 1.5 times, while Qualified Institutional Buyers booked 92% of their reserved portion.

Retail investors participated in large numbers in at least 10 IPOs, with cumulative retail applications exceeding Rs 10K cr. Despite SEBI's initial proposal to reduce retail quota, data shows retail response is robust in attractively priced issues, with instances of over Rs 40K cr in retail bids, including Rs 16,470 crore in Waaree Energies' IPO in 2023, and Rs 10,500 cr in NSDL's recent IPO.

Mangal Electrical Industries shares listed at ₹556 (0.89% discount) on NSE and ₹558 (0.5% discount) on BSE, following a 9.95 times-subscribed IPO. The public issue raised ₹400 crore, with 4.96 crore bids against 49.91 lakh shares on offer. Subscription was highest in NIIs at 19.78 times, retail at 5.09 times, and QIBs at 11.09 times.

Austere Systems, a Pune-based IT services provider, set its initial public offering (IPO) for public subscription from September 3 to 8 with a price band of Rs 52-55 per share. The IPO aims to raise Rs 15.56 crore, with half reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Sharvaya Metals, a manufacturer of aluminum products, will begin accepting subscriptions for its initial public offering (IPO) on September 4th, with a price range of Rs 192-196 per share. On September 9, the public issue will end. By September 10, the firm will finalize its IPO share allocation, and on September 12, its shares will be traded on the BSE SME.

Mangal Electrical shares will debut on Indian stock exchanges on August 28 after its IPO was subscribed 9.46 times. The IPO raised Rs 120 crore and the issue was valued at 26-28 times FY24 earnings, with ROCE above 18 percent and EBITDA margins of nearly 12 percent. Shares are quoting at a 3-6 percent premium in the grey market, indicating expectations of a measured debut.

Veritas Finance Ltd, backed by PE and Kedaara Capital, has delayed its ₹2,800-crore IPO due to US tariffs on Indian exports-focused MSMEs. A 50% tariff on Indian exports came into effect, impacting sectors like textiles, gems and jewelry, and seafood, which account for 25% of India's exports to the US. The loan book of Veritas grew 62% in FY 24.

Mangal Electrical's unlisted shares trade flat in grey markets ahead of IPO listing on August 28, with a grey market premium (GMP) of 0.53-0.71%. Vikran Engineering's GMP is 13.4-14.43%, while Anlon Healthcare's GMP is 5.5-6.59%. Mangal Electrical's IPO was subscribed 9.5 times, Vikran Engineering's was subscribed 2 times, and Anlon Healthcare's was subscribed 1.7 times.

Vikram Solar shares ended with a 5.77% gain on its debut, listing at Rs 338 and rising to Rs 381.65. Its IPO was subscribed 54.63 times, with a market valuation of Rs 12,931.38 crore. Meanwhile, Patel Retail, Gem Aromatics, and Shreeji Shipping Global closed lower, with benchmark indices dropping 849 points to 80,989.

Ardee Engineering received Sebi approval to float a Rs 580 crore IPO, comprising a mix of fresh issuance and an offer-for-sale. The IPO involves a fresh issue of Rs 500 crore and an offer-for-sale of Rs 80 crore by promoter Chandra Sekhar Moturu. Funds will be used for manufacturing facilities expansion and general corporate purposes.

Vikran Engineering Ltd, an Indian EPC company, offers end-to-end services across power, water, and railway sectors. Key differentiators include in-house design expertise and proven project execution efficiency. Its initial IPO is priced at 17.3x TTM EV/EBITDA, significantly lower than its peer average of 32.0x, earning a "SUBSCRIBE" rating based on attractive pricing.

Anlon Healthcare's Rs 121-crore IPO opened for public bidding. The issue is 50% subscribed on Day 1 with bids for 67 lakh shares against 1.33 crore shares. Retail investors booked nearly 5 times their reserved portion. Non-Institutional Investors (NII) subscribed 23%. Qualified Institutional Buyers (QIBs) have yet to make a substantial bid. Shares to debut on BSE and NSE on September 3.

Shreeji Shipping Global's share price fell over 4% after listing on BSE and NSE on August 26, despite a modest debut with the stock opening at ₹271.85 on BSE, a 7.14% premium to the IPO price of ₹252. The company listed with a market capitalization of over ₹4,428.93 crore and was subscribed over 58 times during a three-day bidding period.

Patel Retail debuted with a 19.6% premium over its issue price. The stock listed at Rs 305 (BSE) and Rs 300 (NSE), backed by a 95.69 times oversubscribed IPO raising Rs 242.76 crore. Proceeds will fund repayments, working capital requirements, and general corporate purposes. The company operates 43 stores across Maharashtra and Gujarat with Rs 826 crore FY25 revenue and Rs 25.28 crore net profit.

Vikran Engineering, a turnkey infrastructure projects company incorporated in 2008, has successfully completed 45 projects worth ₹19,199 mn as of June 30, 2025. The company has 44 ongoing projects worth ₹51,202 mn. It seeks a P/E of 32.1 times and a market cap of approximately Rs 25,017 mn. Its IPO is fully priced, but it's well-positioned for long-term growth in the infrastructure sector.

Vikran Engineering Ltd. (VEL) has a 32.17% CAGR revenue growth from FY23-25. The company offers turnkey services in power, water, and railway infrastructure. With a strong execution track record, VEL completed 45 projects worth Rs. 1,920 crore and has an active order book of Rs. 2,442 crore. The IPO is valued at Rs. 97 with a P/E multiple of ~32.12x on FY25 EPS of Rs. 3.02.

Vikran Engineering's ₹772-crore IPO opened on August 26 and closes on August 29. The grey market premium is 21.65% over the upper price band. Brokerage firms assign neutral and subscribe ratings, citing asset-light model, high profitability, and sector tailwinds. The IPO has a strong order book of over ₹2,000 crore and secured ₹231.6 crore from anchor investors.

Gem Aromatics debuted on stock markets at a 2.5% premium over IPO price at Rs 333.10 on NSE and 333.10 apiece at flat on BSE. The 451-crore IPO saw 30x subscription, trading 10.5% grey market premium ahead of listing. Key statistics include a price band of Rs 309-325, 11% revenue growth, 7% net profit expansion in FY25, and valuation of 31.8x P/E.

IPO Listing: Shreeji Shipping Global's shares listed on BSE at ₹271.85, a 8% premium over the IPO price, with a market cap of ₹4,428.93 crore. IPO received 58 times subscription and earned ₹411 crore at the upper end of the price band. Proceeds will fund dry bulk carrier acquisitions and debt repayment.

Vikram Solar shares listed at Rs 338 on NSE and Rs 340 on BSE, a 1.81% and 2.4% premium over IPO price. The Rs 2,079-crore IPO was subscribed 54.63 times. Market capitalization post listing stood at Rs 12,837.34 crore. Analyst Akhilesh Desai suggests short-term investors book profits, while long-term investors hold for sector-led growth.

Vikram Solar Ltd, a solar PV modules manufacturer, lists its equity shares on the Indian stock market today following strong investor demand in its IPO. The public issue opened on August 19 and closed on August 21, with allotment finalized on August 22. The debut comes after robust subscription interest, marking a key milestone for the company.

Mangal Electrical's Rs 400-crore IPO, subscribed 9.5 times, will likely see share allotments finalized by August 25. Shares are expected to debut on August 28, after the company raised Rs 120 crore from 10 anchor investors, with shares trading at a grey market premium of 2.67-3.39% over the IPO price.

SFC Environmental Technologies has refiled its draft IPO papers with SEBI to raise up to Rs 150 crore through fresh issuance and an offer-for-sale of 1.23 crore shares by existing shareholders. Funds will be used for borrowing repayment, working capital, and general corporate purposes. The company had withdrawn its IPO plans in March but plans to list this year.

Anlon Healthcare IPO in focus : Anlon Healthcare's initial public offering (IPO) opens for subscription from August 26 to August 29, aiming to raise ₹121 crore through 1.33 crore shares. The IPO price band is set at ₹86 to ₹91 per share, with retail investors required to invest a minimum of ₹14,924 per lot at the upper end.

Patel Retail's IPO saw 95.70 times subscription, with a Grey Market Premium indicating a premium listing. The company operates 43 stores in Maharashtra under 'Patel's R Mart', and plans to use IPO proceeds for debt repayment, working capital, and expansion. Narendra Solanki and Akhilesh Desai expect a premium listing and recommend partial profits for short-term investors.

Rachit Prints, a textile manufacturer, will launch its IPO on September 1, with the offer open until September 3. It plans to raise Rs 19.49 crore via 13.08 lakh shares at Rs 140-149 per share. The IPO funds will be used for working capital, machinery, debt repayment, and general corporate purposes. The share allotment will be finalized by September 4, with trading starting on September 8.

Oval Projects Engineering is set to open its maiden public issue for subscription on August 28, offering 54.99 lakh shares at Rs 80-85 per share. The company aims to raise Rs 46.74 crore for working capital and general corporate purposes. Profit increased by 112 percent to Rs 9.3 crore in 2025, with revenue growing 31.2 percent to Rs 102.3 crore.

Gem Aromatics' Rs 451-crore IPO was over-subscribed 30 times between August 19-21, with the price band set at Rs 309-325 per share. Unlisted shares traded with a grey market premium of 8-9% over the IPO price, signaling potential listing gains. The company reported 11% revenue growth in FY25 with diversified products, positioning it competitively in a niche global market.

Shreeji Shipping Global's Rs 411-crore IPO saw strong investor interest, being subscribed over 58 times between August 19 and August 21. The company's unlisted shares were trading with a 13.5% grey market premium, while experts expect a well-run company with strong profitability but stretched valuations. Investors advised to hold for long term, with potential for short-term listing gains.

Vikram Solar is set to list on the BSE and NSE on August 26, with investors expecting a 12.35% gain. Grey market premium suggests a decent listing at ₹373 per share, up from the IPO price band of ₹315-332. The ₹2,079-crore IPO was subscribed 54.63 times, driven by QIBs, NIIs, and retail investors, with proceeds for capex and selling shareholders' exits.

Mangal Electrical Industries' ₹400 crore IPO has received robust demand, subscribed 9.46 times, with various categories subscribed significantly more, such as NII at 18.79 times and QIB at 10.54 times. The IPO allotment status will be finalised on August 25 and available on BSE, Bigshare Services, and NSE websites.

OYO plans to file its Draft Red Herring Prospectus (DRHP) in November, aiming for a USD 7-8 billion valuation in its IPO. The company will approach its board with the proposal, with SoftBank, its largest shareholder, involved in the process. OYO's Q1 financial performance, which showed double-digit growth, will be showcased in the filing.