- The short — pipeline signal
- Fresh DRHP filings this week
- RHP/price-band & observation milestones
- Delayed/paused windows
- SME flow & day-2 reality
- Checklists & two-week calendar (indicative)
The short
- Pace: Utilities, logistics, hospitality and healthcare dotted the week’s filings; medtech added a large fresh issue.
- Milestones: Multiple RHPs posted or updated; marquee listings are in focus next week.
- Risk: Float concentration and leveraged HNI demand remain the main volatility levers on listing day.
- SME: Oversub stayed high, but day-2 liquidity still hinges on free float and market-maker design.
Fresh DRHP filings this week
| Issuer | Sector | Issue type | Headline detail (indicative) |
|---|---|---|---|
| Vishvaraj Environment | Water infra/operations | DRHP | O&M-heavy cashflow profile; municipal contracts under watch |
| Sterlite Electric | Electrical equipment | DRHP | Industrial capex cycle exposure; mix and margins in focus |
| CJ Darcl Logistics | Integrated logistics | DRHP | Scale and network effects; working-capital discipline |
| Mann Fleet Partners | Fleet/fin services | DRHP | Asset-liability tenor and collections efficiency key |
| Aarvee Engineering Consultants | Engineering services | DRHP | PMCM/consulting mix; utilization and pricing watch |
| Pride Hotels | Hospitality | DRHP | Brand expansion vs occupancy volatility; ARR seasonality |
| Sai Parenterals | Pharma | DRHP | Injectables capacity and compliance track record |
| Integris Medtech | Medical technology | DRHP | Large raise discussed; fresh-issue component highlighted |
RHP/price-band & observation milestones
| Issuer | Milestone | Window | Watch |
|---|---|---|---|
| LG Electronics India | RHP posted | Late Sep → listing window in focus | Blue-chip optics; domestic vs FPI anchor mix |
| WeWork India | Addendum to RHP | Early Oct | Calendar clarity and anchor color |
| Midwest Limited | RHP filed | Oct 10 window | Mainboard opener next week; orderbook visibility |
| Canara HSBC Life Insurance | RHP filed | Early Oct | Insurance peer read-across and distribution strength |
| Rubicon Research | RHP filed | Early Oct | CDMO margins and pipeline risk |
| Canara Robeco AMC | RHP filed | Mid Oct | Fee yields and AUM sensitivity |
| Lenskart; Wakefit | SEBI observations | Late Sep–Early Oct | Observation letters enable launch windows |
Delayed / paused
- Names with thin free float or crowded secondary supply weighed timing; a few nudged by one window to avoid marquee listings in the same week.
- Working-capital heavy issuers aimed for cleaner receivable prints before proceeding to anchors.
SME wave — day-2 reality check
What’s working
- Clear use-of-proceeds and disciplined receivable cycles.
- Market-maker frameworks that support orderly trading.
Where to be cautious
- Low float with concentrated anchors—air pockets appear quickly.
- High oversub backed by leverage—watch unwind into T+1/T+2.
Investor checklists
Retail
- Prefer OCF-positive models and short receivable cycles.
- Size bids by free float and realistic allotment, not oversub multiples.
- Read cohort/segment profitability; avoid GMV-only stories.
Anchors
- Demand CM2/payback by city/vintage where relevant.
- Map post-lock-in supply; avoid bunched exits.
- Push for governance clarity on RPTs and guarantees.
Two-week calendar (indicative)
- Mainboard: Midwest opens; large-cap listings in appliances/financials are the near-term focus.
- SME: 3–5 issues to list/close; verify exchange notices for final dates and market-maker obligations.
Pro move Set alerts for “Basis of Allotment” PDFs; day-2 trading quality tracks float and anchor dispersion.