IPO Frenzy: Millworks GMP Signals 118% Listing Gain

India's IPO market will stay busy next week, with five issues on investors' watchlist across mainboard and SME segments. Grey market data show strong interest in select names, with Millworks Technologies commanding the highest GMP at Rs 390 against an issue price of Rs 331, indicating a possible listing gain of nearly 118%.

SBI Funds Management is the largest mainboard IPO on the list, priced at Rs 574 per share. Its GMP of Rs 88 points to a potential gain of 15.33%. Alpine Texworld opens for subscription on July 14 and closes July 16, with a price of Rs 105 and an issue size of Rs 126.25 crore. Its GMP of Rs 2 suggests a modest 1.9% gain.

Laser Power and Infra, currently open for subscription, has seen 1.05 times subscription so far. Its GMP of Rs 36.5 against an issue price of Rs 214 implies a 17% listing gain. Devson Catalyst and Happy Steels will debut on the exchange on July 16, with grey market premiums of 38% and 21%, respectively.