IPO calendar: 5 new issues to hit the market next week, Shadowfax to debut on bourses

The primary market will see a relatively quiet week ahead in terms of fresh fundraising, with no mainboard public offerings opening for subscription. However, investor activity will continue on the SME platforms, where five IPOs are scheduled to open next week, alongside three listings across the mainboard and SME segments.

While there are no large mainboard issues opening, market attention will remain on the listing side, led by Shadowfax Technologies, which is set to make its stock market debut.

Shadowfax IPO

Shadowfax will be the only mainboard listing among the three companies scheduled to list during the week. The grey market premium for Shadowfax stood at Rs 0 ahead of listing, indicating muted expectations of a listing pop amid cautious broader market sentiment.Shadowfax Technologies raised Rs 1,907 crore through its IPO, which comprised a fresh issue of Rs 1,000 crore and an offer for sale of Rs 907 crore.

The issue was priced at Rs 124 per share and attracted an overall subscription of 2.86 times, with strong interest from qualified institutional buyers and relatively softer demand from non-institutional investors. The company, which operates in the e-commerce and hyperlocal logistics space, will list on both the NSE and BSE on January 28.Given the zero grey market premium, market participants are expecting a flat to modest debut, with performance likely to be driven by broader market cues rather than listing-day enthusiasm.

SME segment IPOs

On the SME side, five IPOs will open for subscription, spread across the NSE SME and BSE SME platforms. Accretion Nutraveda Ltd, Msafe Equipments Ltd and Kanishk Aluminium India Ltd will all open their issues on Wednesday, January 28, and close on Friday, January 30.

Accretion Nutraveda has set a price band of Rs 122 to Rs 129 per share for its issue on the BSE SME platform, while Msafe Equipments is offering shares in the Rs 116 to Rs 123 range, also on BSE SME. Kanishk Aluminium India has opted for a fixed price issue at Rs 73 per share on the BSE SME exchange.

CKK Retail Mart will be the last SME issue of the week to open. Its IPO will open on Friday, January 30, and close on Tuesday, February 3, with a price band of Rs 155 to Rs 163 per share. The issue will list on the NSE SME platform, with Oneview Corporate acting as the merchant banker.

With secondary markets remaining range-bound and investors focused on earnings and global cues, primary market activity is expected to stay measured in the near term, with listing performance likely to vary sharply across sectors and company profiles.