IPO GMP buzz: Kusumgar leads with 39% GMP; SBI Funds Management, Laser Power also attract strong interest

The grey market is buzzing as investors track the latest premiums for both current and upcoming mainboard IPOs. Kusumgar IPO leads the pack with a Grey Market Premium (GMP) that implies an estimated listing gain of nearly 39%. It is followed by SBI Funds Management IPO, which commands a GMP of Rs 92 and an expected listing upside of 16%. Meanwhile, the Laser Power & Infra IPO is trading at a GMP that suggests a potential listing gain of 15-16%. In contrast, the Alpine Texworld IPO has seen muted grey market interest, with a GMP of just Rs 2, implying an estimated listing gain of around 2%.

The primary market remains active as the Kusumgar IPO and Laser Power & Infra IPO are currently open for subscription. Investor focus is also shifting to next week's biggest offering, the Rs 11,693-crore SBI Funds Management IPO, alongside the Rs 126.25-crore Alpine Texworld IPO, with both issues set to open for subscription on the same day.

With strong GMP trends reflecting healthy investor sentiment, these four IPOs are expected to keep the primary market in focus over the coming week.


Kusumgar IPO: Last day of bidding, GMP signals nearly 39% listing gain

The Rs 650-crore Kusumgar IPO, which opened for subscription on July 8, closes for bidding today, July 10. In the grey market, the IPO is witnessing robust demand. The Grey Market Premium (GMP) stands at 39% or Rs 163 on the upper price band of Rs 419, the estimated listing price is Rs 582. The basis of allotment is expected to be finalized on July 13, while the shares are likely to debut on the NSE and BSE on July 15.

Laser Power & Infra IPO attracts healthy GMP

The Rs 742-crore Laser Power & Infra IPO is currently on its second day of subscription and is also drawing positive sentiment in the grey market. The latest GMP is 16% or Rs 33 against the upper price band of Rs 214, the estimated listing price works out to Rs 247. The issue will close on July 13, with allotment expected on July 14. The company's shares are tentatively scheduled to list on the NSE and BSE on July 16.

SBI Funds Management IPO emerges as the biggest attraction next week

Next week's headline IPO will be the Rs 11,693-crore SBI Funds Management IPO, the asset management arm of State Bank of India (SBI) and India's largest asset management company. The public issue is entirely an Offer for Sale (OFS) comprising 20.37 crore equity shares. The company has fixed the price band at Rs 545-Rs 574 per share. The IPO is already generating significant buzz in the grey market, where the latest GMP stands at 16% or Rs 92 on the upper price band of Rs 574, the estimated listing price is Rs 666. The issue will open for subscription on July 14 and close on July 16. Allotment is expected on July 17, while the tentative listing date is July 21 on the NSE and BSE.

Alpine Texworld IPO sees muted grey market interest

Also opening on July 14 is the Rs 126.25-crore Alpine Texworld IPO, which comprises an entirely fresh issue of 1.20 crore equity shares.

Among the four IPOs, Alpine Texworld has witnessed the weakest grey market activity so far. The latest GMP stands at just 2% or Rs 2 on the upper price band fixed at Rs 105, the estimated listing price is Rs 107. The IPO has a price band of Rs 100-Rs 105 per share and will remain open for subscription from July 14 to July 16. The allotment is expected on July 17, with the shares likely to list on the NSE and BSE on July 21.

While grey market premiums indicate strong investor sentiment, they remain unofficial and are not a guarantee of listing performance. Investors should evaluate the company's fundamentals, valuation, and risk factors before making investment decisions.

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