The Indian primary market continues its strong run as a fresh wave of Mainboard and SME IPOs hit the stock exchanges. Whether you are seeking short-term listing gains or evaluating long-term portfolio additions, navigating issue sizes, grey market premiums (GMP), price valuations, and allotment tracking can feel overwhelming.
This master guide serves as your single, consolidated handbook. It covers a detailed review of every major IPO opening next week, an in-depth financial comparison between Indo-MIM Ltd and Lohia Corp Ltd, and a complete step-by-step allotment checking guide.
📊 Part 1: Upcoming IPOs Breakdown (Dates, GMP & Lead Managers)
Here is a quick snapshot of the primary market offerings opening or remaining active for bidding.
| Company Name | Issue Type | Price Band (₹) | Total Issue Size (₹ Cr) | Bidding Window | Est. GMP (Premium) | Lead Managers (Facilitators) |
| Indo-MIM Ltd | Mainboard | ₹461 – ₹485 | ₹3,812 Cr | Jul 23 – Jul 27 | ~₹90 (18%) | Kotak Mahindra, Axis Capital, J.P. Morgan |
| Lohia Corp Ltd | Mainboard | ₹404 – ₹425 | ₹1,101 Cr | Jul 23 – Jul 27 | ~₹20 (5%) | ICICI Securities, HSBC, IIFL Securities |
| Xtranet Technologies | Mainboard | ₹120 – ₹127 | ₹116 Cr | Jul 23 – Jul 27 | ~₹12 (10%) | Choice Capital Advisors |
| Advance Technoforge | SME | ₹95 (Fixed) | ₹35 Cr | Jul 27 – Jul 29 | ~₹22 (23%) | Beeline Capital Advisors |
| Propshop Events | SME | ₹65 – ₹69 | ₹21 Cr | Jul 27 – Jul 29 | ~₹10 (15%) | Hem Securities |
| Poojaa Precision Engg | SME | ₹285 – ₹301 | ₹42 Cr | Jul 28 – Jul 30 | ~₹50 (17%) | Unistone Capital |
| Manipal Health Enterprises | Mainboard | ₹560 – ₹590 | ₹4,500 Cr | Jul 29 – Jul 31 | ~₹68 (11%) | Morgan Stanley, BofA, SBI Capital |
🔍 Deep-Dive Reviews: Key Mainboard Issues
1. Indo-MIM Ltd (Mainboard)
- Core Business: Global leader in Metal Injection Molding (MIM) components and 3D metal printing.
- Purpose of the Issue: Funding capital expenditure for expanding manufacturing units in India and the US (~₹1,500 Cr fresh capital), R&D in additive manufacturing, and debt reduction.
- Strengths & Risks: High market share across 50+ countries in aerospace, defense, and medical devices. EBITDA margins stand at a healthy ~24%. However, heavy export reliance exposes revenues to global macroeconomic shifts.
2. Lohia Corp Ltd (Mainboard)
- Core Business: Global manufacturer of machinery for technical textiles, plastic woven fabrics, and industrial packaging.
- Purpose of the Issue: 100% Offer for Sale (OFS)—all proceeds go directly to selling promoters; no fresh growth capital enters the company.
- Strengths & Risks: Market leadership in woven fabric equipment across 85+ countries with a low debt-to-equity profile (0.28x). However, 0% fresh capital means expansion relies entirely on internal accruals.
3. Manipal Health Enterprises Ltd (Mainboard)
- Core Business: One of India’s largest multi-specialty healthcare and hospital chains.
- Purpose of the Issue: Debt reduction to minimize finance costs and funding bed-capacity expansion across Tier-1 and Tier-2 cities.
- Strengths & Risks: High Average Revenue Per Occupied Bed (ARPOB) and strong regional dominance in South and East India. However, healthcare remains a capital-intensive industry subject to regulatory pricing controls.
⚔️ Part 2: Indo-MIM vs. Lohia Corp — Financial & Valuation Comparison
If you are deciding where to deploy capital between these two flagship engineering issues, the financial matrix below highlights their distinct profiles:
┌────────────────────────────────────────────────────────────────────────┐
│ MAINBOARD IPO COMPARISON SUMMARY │
├───────────────────┬────────────────────┬───────────────────────────────┤
│ Metric │ Indo-MIM Ltd │ Lohia Corp Ltd │
│ Capital Structure │ Fresh + OFS (~39% F│ 100% OFS (No company cash) │
│ Primary Focus │ MIM / 3D Printing │ Packaging / Woven Machinery │
│ Expected Growth │ High (Aerospace) │ Steady (Industrial) │
└───────────────────┴────────────────────┴───────────────────────────────┘
| Metric / Parameter | Indo-MIM Ltd | Lohia Corp Ltd |
| Price Band | ₹461 – ₹485 | ₹404 – ₹425 |
| Issue Size | ₹3,812 Crore | ₹1,101 Crore |
| Fresh Issue Portion | ~₹1,500 Crore (Growth Capital) | ₹0 (100% OFS) |
| Revenue Growth (YoY) | ~18.5% CAGR | ~11.2% CAGR |
| EBITDA Margin | ~24.5% | ~16.8% |
| Return on Equity (RoE) | ~21.2% | ~18.4% |
| Debt-to-Equity Ratio | 0.45x (Post-issue: ~0.15x) | 0.28x |
| P/E Ratio (Upper Band) | ~38x – 42x | ~26x – 28x |
| Estimated GMP | ~18% – 20% | ~4% – 6% |
💡 Investor Verdict
- Indo-MIM Ltd suits growth-oriented investors looking for technological moats, superior EBITDA margins, and potential listing upside, backed by fresh capital deployment.
- Lohia Corp Ltd suits conservative value investors preferring lower P/E entry multiples (~27x) and steady cash flows, despite the lack of fresh issue proceeds.
🔍 Part 3: Step-by-Step Allotment Tracking Blueprint
Once an IPO subscription window closes, the allotment basis is typically finalized within 24 to 48 hours. Here is how to verify your status across all official portals.
1. Check on Link Intime India (Registrar for Indo-MIM)
- Go to the official Link Intime IPO Status Portal (
[https://linkintime.co.in/MIP/IpoStatic/ipo-allotment-html](https://linkintime.co.in/MIP/IpoStatic/ipo-allotment-html)). - Select Indo-MIM Ltd from the drop-down menu.
- Choose PAN Number as your search type.
- Enter your 10-character PAN Card ID and click Search.
2. Check on KFin Technologies (Registrar for Lohia Corp & Manipal Health)
- Visit the KFintech Allotment Portal (
[https://ris.kfintech.com/ipostatus/](https://ris.kfintech.com/ipostatus/)). - Click any active server link (Server 1, 2, or 3).
- Select Lohia Corp Ltd or Manipal Health Enterprises from the company list.
- Select PAN, enter your details, complete the CAPTCHA, and click Submit.
3. Check via BSE India
- Visit the BSE Application Status Page (
[https://www.bseindia.com/investors/appli_check.aspx](https://www.bseindia.com/investors/appli_check.aspx)). - Under Issue Type, select Equity.
- Choose the respective company name from the drop-down menu.
- Enter your Application Number AND your PAN Card Number.
- Complete the reCAPTCHA verification and click Search.
📲 Bank & Demat Confirmation Signals
- If Allotted: You will receive an SMS from your bank stating that the blocked UPI mandate amount (~₹14,000–₹15,000 per retail lot) has been debited to the escrow account, followed by a CDSL/NSDL credit SMS.
- If Not Allotted: You will receive a bank alert stating that the UPI mandate hold on your funds has been released/unblocked.
📌 Standard Compliance & Statutory Disclaimer
⚠️ Financial & Legal Disclaimer:
- Educational Purpose Only: The contents of this article are strictly for educational, informational, and research purposes and do not constitute financial, legal, tax, or investment advice.
- SEBI Registration Status: Neither the author nor the publishing domain (FractionalTech) is registered as a SEBI Investment Adviser (IA) or Research Analyst (RA). The information provided above is compiled from publicly available Red Herring Prospectuses (RHP), draft filings, and market news aggregators.
- No Financial Recommendation: Nothing published herein should be construed as an explicit buy, sell, or hold recommendation for any stock, asset, or IPO issue.
- Market Risks: Equity investments are subject to market risks. Readers must perform independent due diligence or consult a SEBI-registered financial advisor before submitting any IPO applications or making financial commitments.
- Unregulated GMP Notice: Grey Market Premium (GMP) numbers are speculative, unofficial, and non-SEBI-regulated market indicators traded in informal private circles. GMP numbers can fluctuate rapidly and should never serve as the primary basis for investment decisions.