NEW DELHI: India’s primary market is set for a busy week as five companies are scheduled to launch their initial public offerings (IPOs) next week, collectively aiming to raise approximately ₹7,443 crore from investors.
The upcoming IPOs include offerings from Dhoot Transmission, Molbio Diagnostics, Milky Mist Dairy Food, Shiprocket, and Behari Lal Engineering.
The activity is expected to further boost India’s IPO market, with the number of companies launching public issues this year set to reach 47.
IPO Calendar for Next Week
The IPO activity will begin on August 10, when Molbio Diagnostics and Dhoot Transmission open their public issues for subscription.
Milky Mist Dairy Food will follow on August 11, while ecommerce enablement platform Shiprocket and engineering products manufacturer Behari Lal Engineering will launch their IPOs on August 12.
Together, the five companies are looking to raise around ₹7,443 crore, making it one of the busiest weeks for India’s primary market in recent months.
Meanwhile, the IPOs of KKR-backed LEAP India and Technocraft Ventures are already open for subscription.
Dhoot Transmission IPO
Auto components manufacturer Dhoot Transmission has fixed a price band of ₹829–₹871 per share for its ₹3,067-crore IPO.
The issue consists of:
- A fresh issue of up to ₹1,400 crore
- An offer for sale (OFS) of up to 1.91 crore shares
The shares under the OFS will be sold by promoters including BC Asia Investments XV Ltd, an entity backed by Bain Capital, and Mangalam Capital Private Ltd.
The IPO is expected to attract significant investor attention given the company’s presence in the automotive components sector.
Molbio Diagnostics IPO
Molbio Diagnostics, a Goa-based point-of-care diagnostics company backed by Temasek and Motilal Oswal Private Equity, has set its IPO price band at ₹768–₹807 per share.
The company is looking to raise approximately ₹904–₹940 crore through the public offering.
The IPO comprises:
- A fresh issue of up to ₹200 crore
- An OFS of up to 91.66 lakh shares
The company develops point-of-care diagnostic technologies and has attracted significant interest from institutional investors ahead of its listing.
IFC Returns to India’s Mainboard IPO Market
The upcoming Molbio Diagnostics IPO has also marked the return of the International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, to India’s mainboard IPO market after a five-year gap.
IFC has invested ₹20 crore as an anchor investor in Molbio Diagnostics.
Its previous investment in India’s mainboard IPO market came in June 2021, when it invested ₹10 crore as an anchor investor in Dodla Dairy.
The investment highlights institutional interest in India’s growing diagnostics and healthcare sector.
Institutional Investors Acquire Molbio Shares
Apart from the anchor investment, several major alternative investment funds and institutional investors have acquired Molbio Diagnostics shares worth approximately ₹160 crore through secondary transactions.
The transactions were completed at ₹807 per share, which is the upper end of Molbio’s IPO price band.
Among the investors:
- 360 ONE Asset invested ₹30 crore
- 3P Investment Managers invested ₹25 crore
- Neo Alternative Asset Managers invested ₹25 crore
- Kotak Mahindra Life Insurance invested ₹25 crore
- Susquehanna International Group invested ₹25 crore
- WhiteOak Capital Asset Management invested ₹20 crore
- Motilal Oswal Asset Management invested ₹10 crore
The participation of these institutional investors is expected to strengthen market interest in the Molbio issue.
More IPO Activity Expected
The primary market is expected to remain active in the coming weeks, with several other companies preparing for potential public listings.
Companies such as Blackstone-backed Horizon Industrial Parks, a Gaja Capital-backed firm, and Shankesh Jewellers are among those expected to announce their IPO price bands next week.
With multiple large public issues lined up, investors will be closely watching subscription levels, institutional participation, valuations and listing performance.
The upcoming IPO pipeline reflects continued activity in India’s equity capital markets and sustained interest among companies seeking to raise funds through public listings.
