Next week’s IPO activity will see three new public offerings hit the primary market across the mainboard and SME segments
India’s primary stock market is preparing for a new wave of public offerings next week, featuring a mix of engineered manufacturing and small-to-medium enterprise listings. The action will begin on Wednesday, July 8, 2026, breaking a brief lull in mainboard activity. Investors will have three distinct opportunities to deploy capital across both the mainboard and SME platforms.
This week’s headline event is the mainboard public offering of Kusumgar Limited. This engineered fabric manufacturer will open its ₹650 crore public issue for public bidding from July 8 to July 10, 2026. The entire issue is structured as an offer for sale of 15.5 million equity shares, meaning the company will not raise any new capital from the proceeds.
Kusumgar has set a price band of ₹398 to ₹419 per equity share for the issue. Retail individual investors can bid for a minimum lot size of 35 shares, implying an entry-level investment of ₹14,665 at the upper end. The shares are proposed to be listed on both the NSE and BSE on July 15, 2026.
Founded in 1990, Kusumgar specializes in manufacturing specialty woven, coated, and laminated synthetic fabrics used in the aerospace, defense, and automotive sectors. The company reported a 10% decline in operating revenue to ₹711.78 crore for the financial year 2026, while its net profit declined 12% to ₹98.20 crore. Despite the slow financial year, its unlisted shares are already commanding a 33% premium in the gray market.
Additionally, the small and medium enterprise (SME) segment will maintain its momentum with two new issues opening on Thursday, July 9, 2026. Both SME public offerings are scheduled to close their multi-day subscription windows on Monday, July 13, 2026. These companies will list on the dedicated SME exchange platform later that week.
Happy Steels Limited is launching its public issue on the NSE SME platform to raise ₹25 crore. The manufacturing company has set its pricing parameters at a price band of ₹62 to ₹66 per share. Allocations are expected to be finalized on July 14, ahead of the issue’s listing on July 16, 2026.
The second micro-cap offering is from Davson Catalyst Limited on the BSE SME platform. The company aims to raise a total of ₹42.34 crore through its public fundraise. Bidders can participate in the fixed price band of ₹112 to ₹118 per equity share, and the expected listing date is July 16.
Market participants will also be closely monitoring the ongoing closing of IC Electricals Company Limited. The ongoing SME public offering, which initially opened on July 3, will officially conclude its bidding cycle on Tuesday, July 7, 2026. The company is offering its shares in the price band of ₹94 to ₹99 per share.
In terms of market allocation, Kusumgar has reserved up to 50% of its net offer for qualified institutional buyers. Retail individual investors are entitled to a minimum of 35% of the issue, while the remaining 15% is reserved for non-institutional bidders. Axis Capital Mainboard is managing the issue, while Bigshare Services is acting as the registrar.
Disclaimer: All the information provided in this article is for educational and infomational purposes only. DateUpdateGo always advises seeking guidance from a certified financial advisor before making any investment-related decisions.
