India’s primary market is back in focus as a cluster of IPOs—ranging from PSU-linked giants to high-demand SME offerings—capture investor attention. From Coal India’s coking coal arm planning a major public issue to SME IPOs witnessing record subscriptions, the message is clear: risk appetite is selective, but strong.
BCCL IPO: Coal India’s Coking Coal Arm Enters the Spotlight
Bharat Coking Coal Limited (BCCL), a key subsidiary of Coal India, is preparing to launch an IPO worth around ₹1,300 crore, potentially within the next two weeks. The move is being closely watched, as it marks another step in unlocking value from Coal India’s subsidiaries.
BCCL’s role in supplying coking coal—critical for steel production—gives it strategic importance at a time when infrastructure and manufacturing remain policy priorities. While official details are awaited, the buzz alone has put PSU-linked stocks back on investor radars.
Leading stocks to watch from this theme
Coal India (COALINDIA) – Direct beneficiary of value unlocking and sentiment boost
NMDC – Another PSU resource play often tracked alongside Coal India
SAIL – Steel-linked beneficiary if coking coal supply visibility improves
Gujarat Kidney IPO: Strong Start, Cautious Optimism
The Gujarat Kidney & Super Speciality IPO opened to a healthy response, with early subscription figures crossing 1.4 times on Day 1. Analysts have largely described valuations as fair, though caution remains around execution and margins in the hospital space.
Healthcare IPOs tend to attract long-term investors rather than pure momentum traders, and this issue appears to be following that pattern.
Healthcare leaders to track alongside the IPO
Apollo Hospitals – Sector bellwether with strong institutional ownership
Max Healthcare – Consistent growth and margin expansion story
Fortis Healthcare – Turnaround-driven hospital play
Shyam Dhani Industries IPO: SME Mania Continues
If there was one clear showstopper, it was Shyam Dhani Industries. The SME IPO saw subscription figures surge past 50 times, with grey market premium reportedly jumping over 65%. Such numbers reflect aggressive demand, particularly from non-institutional and retail investors.
This mirrors a broader trend in the SME segment, where scarcity, smaller issue sizes, and listing-day expectations are driving extreme demand.
SME & consumption-linked stocks to keep on watch
Mrs Bectors Food – Branded food consumption play
DFM Foods – Packaged snack segment exposure
Prataap Snacks – Proxy to rising processed food demand
More IPOs in the Pipeline
Adding to the momentum, Crystal Crop Protection has filed papers for a ₹600 crore IPO, extending the action into the agri-inputs space. With rural demand gradually stabilising, such offerings could further diversify IPO interest beyond healthcare and PSUs.
