IPOs This Week: Manipal Health, Juniper Green Energy, MV Electrosystems Among 3 Mainboard Issues Opening For Subscription

India's primary market is set for another busy week, with three mainboard initial public offerings (IPOs) and six SME issues scheduled to open for subscription, even as several recently concluded public issues prepare to debut on the stock exchanges.

The week's primary market activity will be led by Manipal Health Enterprises, which is launching the largest IPO among the upcoming issues. Renewable energy company Juniper Green Energy and railway electrification equipment manufacturer MV Electrosystems will also open their public offerings during the week.

The strong pipeline comes after a series of well-subscribed public issues in recent weeks, with investor participation remaining robust amid the ongoing earnings season.

Manipal Health Enterprises IPO

The Manipal Health Enterprises IPO will open for subscription on July 29 and close on July 31. The company plans to raise ₹9,275.22 crore through a fresh issue of ₹8,000 crore and an offer for sale (OFS) worth ₹1,275.22 crore.

The price band has been fixed at ₹560-590 per share, with a lot size of 25 shares.

According to the company's offer documents, proceeds from the fresh issue will be used to repay borrowings of subsidiary Manipal Hospitals Private Ltd, acquire the minority stake in Sahyadri Hospitals, and meet general corporate requirements.

Juniper Green Energy IPO

The Juniper Green Energy IPO will open on July 30 and close on August 3.

The company intends to raise ₹1,800 crore entirely through a fresh issue of equity shares. The IPO has been priced in the ₹214-225 per share range, while investors can apply in lots of 66 shares.

The renewable energy developer proposes to utilise the proceeds primarily for repayment of borrowings of the company and certain subsidiaries, with the remaining funds earmarked for general corporate purposes.

MV Electrosystems IPO

The MV Electrosystems IPO is also scheduled to open on July 30 and conclude on August 3.

The company is looking to raise ₹290 crore through a fresh issue, with no offer-for-sale component. It has fixed the price band at ₹400-425 per share, while the minimum application size is 34 shares.

The proceeds will be used towards working capital requirements, research and development for new power electronic equipment, and general corporate purposes.

Six SME IPOs To Open

Apart from the three mainboard offerings, six SME IPOs are slated to open during the week. These include:

• Propshop Events & Exhibitions

• Advance Technoforge

• Poojaa Precision Engineering

• HR Hygiene Products

• Dhaval Packaging

• Fusion Klassroom Edutech

IPO Listings This Week

The market will also witness several listings during the week. Companies scheduled to debut on the exchanges include Indo-MIM, Xtranet Technologies, Lohia Corp, Gulf Lloyds, Metalic Technoforge, Shree Balaji Mala and Silverstorm Parks & Resorts.

Primary Market Pipeline Remains Strong

The IPO pipeline remains active beyond this week, with several companies awaiting market launch. Among the larger proposed public issues are Truhome Finance, Elevate Campuses, Shiprocket, Innovatiview India and Milky Mist Dairy Food.

Other companies in the pipeline include Dhoot Transmission, Asset Reconstruction Company India, Ardee Industries, Gaja Alternative Asset Management, Rays of Belief, Hy-Tech Engineers, Shankesh Jewellers and Learnfluence Education, with launch timelines subject to regulatory approvals and market conditions.

The upcoming offerings are expected to keep the primary market active as companies continue to tap investor demand for equity capital, while market participants will monitor subscription trends and listing performance for cues on sentiment in the IPO market.

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