IPO Central

The primary market rally continues into the second half of July, with the Securities and Exchange Board of India (SEBI) issuing fresh observations to two more companies this week — a Surat-based lab-grown diamond jewellery manufacturer and a Chennai-based AI-led enterprise technology firm. Here’s a closer look at the latest IPO approvals cleared by the market regulator during the week ending 24 July 2026.

Vadodara-based industrial automation and terminal automation solutions provider, Advanced Sys-Tek, has filed its issue prospectus with the Securities and Exchange Board of India (SEBI). The upcoming public issue comprises a combination of a fresh issue of equity shares aggregating up to INR 98.00 crore and an Offer for Sale (OFS) of up to 26,00,000 shares by its promoters and individual selling shareholders.

Juniper Green Energy IPO Description – Juniper Green Energy is one of India’s leading renewable independent power producers (IPPs), developing, owning, operating, and maintaining utility-scale clean energy projects across the country.

India’s rapidly formalising gold loan market has found its newest challenger. Delhi-based IFL Finance, a non-deposit-taking NBFC-Investment and Credit Company with a sharpening focus on secured gold-backed lending, has filed its DRHP with the Securities and Exchange Board of India (SEBI). IFL Finance IPO comprises a fresh issue of up to 3,55,00,000 equity shares and an Offer for Sale (OFS) of up to 30,00,000 equity shares by existing shareholders.

Servotech Renewable Power System has kicked off FY27 with blistering momentum, posting stellar first-quarter results that validate its aggressive expansion in India’s EV charging and solar solutions ecosystem. The company reported a 66.3% year-on-year surge in standalone revenue and a massive 74.5% jump in consolidated Profit After Tax (PAT), signalling robust operational leverage and strong market capture.

Advance Technoforge IPO Description – Advance Technoforge is an engineering-led manufacturer of forged and precision-machined components used in safety-critical applications across automobiles, oil & gas, railways, earthmoving equipment, agriculture, material handling, power transmission, hydraulic systems, and industrial machinery.

Propshop Events IPO Description – Propshop Events and Exhibitions operates in the trade show and exhibition services segment, offering end-to-end booth solutions across custom-built and modular formats. Incorporated in 2019 and converted into a public limited company in February 2025, the company has scaled rapidly within a fragmented and largely unorganised industry by adopting a structured, process-driven operating model.

Caliber Mining IPO subscription reached 154.66 times on Day 3, the closing day, with QIB investors leading demand at 253.88 times, while the issue closed for bidding on 21 July 2026. The INR 450 crore mainboard IPO from Caliber Mining and Logistics, an integrated contract mining and logistics services provider headquartered in Nagpur, Maharashtra, drew broad-based demand across all investor categories by the end of the final bidding day.

Xtranet Technologies’ IPO is generating buzz. Grey Market Premium (GMP) has been holding steady at INR 25 (on an INR 2,300 subject to sauda basis) for two straight sessions — 20 July and 21 July 2026. Retail chatter is upbeat. But GMP is sentiment, not analysis. It tells you what a small, unregulated grey market thinks the stock might do on listing day — it says nothing about whether the underlying business can compound value over the next three to five years.

India’s demat account count crossed 21.6 crore by the end of December 2025, according to depository data from NSDL and CDSL. Behind every one of those accounts is more or less the same habit: checking things. Grey market premium the night before a listing. Subscription numbers on day two of a window. Allotment status the moment it’s supposed to go live, followed almost immediately by a search for whatever tips might improve the odds next time.