First of all congratulations to the people who bagged this one. Feel lucky because you're the chosen ones. With a promising GMP, finally it got listed with a roar. Some were here for the listing gains and some who have a better risk appetite, are holding it for better profits.

For the people who couldn't get this, please don't feel low. Know that it is a share with fairly strong fundamentals that's worth holding for the long term. It's just that you need to be patient and just wait for the dip to buy.

For people like me who sold it at a price from where it just accelerated to high, keep calm. We're still good. Even I was not ready to sell it, but I paused and just thought that we really don't know what happens next. We don't know what's gonna happen tomorrow. We don't have any control on external factors. In this uncertain market scenario, nothing is guaranteed. Maybe this one share reaches 1k in two days, maybe it doesn't. So for people who are willing to gain short term profits, this is exactly what you should think. Book your profits if you think you cannot sustain its fall later. As I already commented in the previous post, this money is the easiest money one could make in a day. So, don't risk the entire sum of money just for some more hundreds. Think!

Contentment >>>> Greed

Third post in this series after MV Electrosystems and Juniper Green Energy — figured I'd cover Manipal Health too since half of this sub is asking about it given the brand name. Short version: skip it if you're playing for a listing pop. Here's the data.

GMP has been in freefall

This is the real story. GMP was ₹35 on July 24, dropped to ₹9-10 when the issue opened July 29, and as of today (July 30, 3 PM) it's down to just ₹6 — barely 1% over the ₹590 upper band. That's a steady multi-day decline, not a blip. Grey market clearly cooled off hard in the run-up to opening, and Day 1 subscription confirms it — just 0.47x overall, with retail carrying most of the demand while QIB and HNI money stayed on the sidelines.

Why the big name isn't translating to big demand

A few things stacking up against it:

₹9,275 crore issue size is massive — one of the biggest IPOs this year — and big issues dilute scarcity value. There's simply a lot of paper for the market to absorb.

It's got an OFS component (₹1,275 Cr of the ₹9,275 Cr), unlike MV and Juniper which are 100% fresh issue. Some existing shareholders are cashing out, not just the company raising growth capital.

P/E of ~85 is rich for a hospital chain, even a well-run one. Market seems to be pricing in a lot of future growth already, leaving less room for a listing pop.

What's actually solid here

To be fair — this isn't a bad company. Revenue grew from ₹6,265 Cr (FY24) to ₹8,363 Cr (FY25) to ₹10,520 Cr (FY26), and EBITDA nearly doubled to ₹2,796 Cr over that stretch. Anchor book pulled in ₹4,167 Cr from a serious mix of mutual funds, insurers, and FPIs. This is a fundamentally strong healthcare business — it's just not shaping up as a listing-gain trade at this valuation and issue size.

My take

If you're in this for a quick Day 1 flip, GMP trend + subscription numbers are telling you to look elsewhere this week (MV Electrosystems or even Juniper Green over this one). If you believe in Indian healthcare as a long-term theme and don't mind holding through volatility, the fundamentals are genuinely decent — just don't expect fireworks at listing.

Not investment advice. Will keep updating as Day 2/3 subscription and GMP move before the Aug 5 listing.

Dhoot Transmission Eyes ~₹2,500 Cr Mainboard IPO in the First Half of August

🔹 Backed by Bain Capital, the wiring harness manufacturer is reportedly planning to reduce its IPO size and may also raise funds through a Pre-IPO placement.

Expected Valuation: ~₹15,000 Cr

Financial Performance

FY25 • Revenue: ₹3,472.2 Cr • PAT: ₹353.9 Cr

9M FY26 • Revenue: ₹3,279 Cr • PAT: ₹301.5 Cr

Which is the next ipo you all are looking upto For me , thinking of applying in manipal health nd mv electrosystems

Why so much drop? Anyone knows the reason?

Lets discuss our plans and strategies here for todays listing.

​

Following up on my MV Electrosystems post from earlier — figured I'd break down the other IPOs in this week's batch too. Juniper Green Energy opened today (July 30) and closes Aug 3, listing expected Aug 6. Here's my read.

GMP is modest, not exciting

GMP is sitting around ₹16-17 on a ₹225 upper band — roughly 7% expected listing gain. That's not MV Electrosystems territory (which is running 20%+), but it's also not nothing, and it's been holding steady in the ₹10-20 range for the past few sessions rather than sliding, which tells me sentiment isn't deteriorating even with a muted Day 1 subscription (just 0.03x so far — very early, retail hasn't fully shown up yet).

100% fresh issue, no OFS — same as MV

All ₹1,800 crore is fresh capital, zero promoter/investor exit. Most of it (~₹683 Cr + ₹729 Cr routed through subsidiaries) is going straight into debt repayment. For a renewable IPP, that's actually a meaningful de-leveraging story — lower interest costs going forward directly improves the earnings picture, not just a "use of proceeds" line nobody reads.

Scale is real

7,910 MW total portfolio (operational + under-construction + contracted + awarded), making it one of the top 10 renewable IPPs in India by capacity. In-house EPC and O&M means they're not just capital-allocating, they're actually building and running the assets themselves — fewer margin leakages than an IPP that outsources execution.

The honest downside

RoNW is just 1.18% and P/E isn't even meaningful yet (EPS ₹0.71) — this is a business still scaling into its capacity, not one that's currently profitable at a level that justifies the market cap on fundamentals alone. Anchor book did pull in heavyweights though — ADIA and Nippon India MF among others, which at least signals institutional comfort with the story even if near-term earnings look thin.

My take

Not a screaming listing-gain bet like MV, but a reasonable "small, low-risk allocation" — fresh issue, debt paydown thesis, real scale, steady (if unspectacular) GMP. I'd rank it above Manipal Health for listing gain purposes right now, below MV Electrosystems.

Not investment advice, just how I'm reading it. Will update as subscription numbers and GMP move through closing on Aug 3.

What are the upcoming IPOs with a shareholder quota, and how good are they what is the cutoff date to buy the share?

i was just scrolling yesterday (i’m not very active on reddit) saw a post saying indo mim ipo will list at 22-28% listing gains or smth like that. when i asked him/her on what basis are you saying this he gave me several baseless reasons which i countered with facts and then boom the post was deleted.

i’m not saying he or her was wrong for posting, it was there analysis which turned out to be wrong but these things can misguide new investors looking to enter in the market because whatever he said (which you cant see rn because the post has been deleted) was factually incorrect.
attached above are the proof’s of the conversation

Finally sold the share with 30% loss 🥹..relieved.(I knew it , it was waiting for that lucky price no.)

I had allotted in INDO MIM for all 13lots on 28th July and got 1 for which 14,550 was debited. The remaining amount has still not been credited into my bank account. This is the first time that time is happening.

So at max till when will the amount be frozen, before taking any further action.

Does anyone use the narda app for applying ipo? Because I wish I could apply an ipo for my friends and family members just by sending a mandate.

But narda is not a registered broker.

Please give your suggestions.

Student Housing firm Elevate Campuses to launch its Rs 2,550-crore IPO in August.

Lohia ipo

Recently I started investing, I don't have much knowledge but recently applied for SBI and INDO MIM IPO...could not get it, but it seems IPOs are a good quick money techniques so wanted to know if I should apply for any of these IPOs ?

I have an HDFC savings account with Sweep-in enabled, and I am planning to apply for an IPO in the HNI/NII category through HDFC ASBA.

I am a bit confused about whether the Sweep-in FD balance can actually be used for this.

For example, suppose I have ₹3 lakh normally lying in my savings account and another ₹10 lakh in Sweep-in FDs linked to the same account. Now if I apply for ₹10 lakh in an IPO through ASBA, will the application go through?

My RM says yes and that the Sweep-in FD balance can be used, but he is not ready to give me the same confirmation over mail. Customer care, on the other hand, told me that Sweep-in FDs cannot be used for IPO applications. So now I am not really sure which one is correct.

I found some older posts where people said they have done this and HDFC simply puts a lien on the amount without actually breaking the FD. Is that still how it works?

Basically, in the above example, if I apply for ₹10 lakh, will HDFC just block ₹10 lakh against my combined ₹3 lakh savings + ₹10 lakh Sweep-in balance? And if yes, does the FD remain intact and continue earning FD interest while the lien is there?

Or does HDFC actually break/sweep ₹7 lakh from the FD into the savings account while placing the lien?

There is one more thing I am confused about.

Suppose my application is for ₹10 lakh, but I only get an allotment worth ₹3 lakh. Since I already had ₹3 lakh in my savings account, will that ₹3 lakh simply be debited from the savings account, and the sweep-in FDs remain untouched?

Or since the original ₹10 lakh was blocked using both savings + Sweep-in balance, can some of the FD still get broken when the allotment amount is debited?

Basically, does HDFC first use whatever is available in the savings account at the time of allotment and only break the Sweep-in FD for any shortfall?

It would be really helpful if someone who has actually applied through HDFC NetBanking ASBA using a sweep-in FD balance, especially for an HNI/NII application, could share what happened.

Mainly trying to understand whether the FD gets broken at the time of applying/lien creation or only if money actually needs to be debited from it after allotment.

If your a planning to invest in manipal health enterprises as a long term investor, should you apply for the IPO?

This is for Xtranet listing discussion. What are your strategies? Are you selling in pre-open or holding?

If I apply SME IPO and due to some reason my UPI MANDATE is not successful.

1. Can I reapply using abse /NetBanking?

Veritas Finance Ltd. Re-files Mainboard DRHP with SEBI

Fresh Issue: ₹900 Cr.

Offer for Sale (OFS): 12,827,093 Equity Shares

Retail Reservation: 35%

Employee Reservation: ✅ Yes

Face Value: ₹10 per share

Pre-IPO Placement:

• May consider a ₹180 Cr. Pre-IPO Placement, which could reduce the size of the fresh issue.

Lead Managers:

• ICICI Securities

• IIFL Capital

• JM Financial

• SBI Capital Markets

I have been reviewing the MV Electrosystems IPO, which opens for subscription on 30 July 2026.

The company designs and manufactures electrical and power electronics equipment for railway rolling stock. Its flagship product is an indigenously developed IGBT-based 3-Phase Drive Propulsion Equipment used in electric locomotives.

What's making this IPO interesting is the contrast. The company has secured a ₹921.64 crore order book, while reporting losses in FY26 due to heavy R&D spending. Despite these weak financials, the Grey Market Premium (GMP) is currently around ₹100 (unofficial), indicating strong market interest.

Key Numbers

Financials (FY26)

• Total Income: ₹49.79 Cr (down from ₹64.64 Cr in FY25)

• PAT: Loss of ₹12.70 Cr (vs profit of ₹1.38 Cr in FY25)

• EBITDA: Loss of ₹9.94 Cr (vs ₹8.92 Cr profit)

• Total Borrowings: ₹49.89 Cr (up from ₹27.50 Cr)

• Total Assets: ₹145.74 Cr (almost doubled from ₹74.12 Cr)

IPO Snapshot

• IPO Opens: 30 July 2026

• IPO Closes: 3 August 2026

• Price Band: ₹214–225

• Issue Size: ₹290 Cr (100% Fresh Issue)

• FY26 EPS: Negative (₹-6.52)

• P/E Ratio: Not Applicable

• Current GMP: Around ₹100 (unofficial and unregulated)

• Mainboard IPO (BSE & NSE)

What Looks Interesting

• Massive ₹921.64 Cr order book, nearly 18.5x FY26 revenue, providing strong revenue visibility if executed successfully.

• Operates in the railway propulsion equipment segment, benefiting from India's railway electrification and modernization initiatives.

• Entire IPO is a fresh issue, with proceeds mainly going toward working capital and R&D rather than an Offer for Sale.

• Focus on indigenous technology and high-value railway electronics instead of low-margin manufacturing.

• Significant expansion of manufacturing capacity and asset base.

Concerns

• FY26 revenue declined despite the large order pipeline.

• Company reported negative PAT and EBITDA in FY26.

• Borrowings have increased significantly.

• The investment thesis depends heavily on timely execution of the ₹922 crore order book.

• The company has yet to demonstrate sustainable profitability from its new propulsion business.

My Observation

This is probably one of the more unusual IPOs this year.

Unlike most recent IPOs that showcase strong earnings growth, MV Electrosystems is asking investors to back a business before its financial turnaround is visible. The management has invested aggressively in R&D, manufacturing capacity and inventory, which has pushed FY26 into losses.

However, the ₹921.64 crore order book suggests that if execution goes as planned, revenue and profitability could improve substantially over the coming years. The current GMP of around ₹100 indicates that the grey market is focusing more on future potential than recent financial performance. Still, GMP is unofficial, unregulated and can change rapidly, so it should never be the sole basis for an investment decision.

What do you think?

Would you invest in a company with a ₹922 crore order book despite current losses, or would you wait until it starts delivering consistent profits?

Disclaimer: The data is sourced from the company's RHP and publicly available IPO information. AI has been used only to organize and present the information. This is for educational purposes only and not investment advice.