IPO Watch: FY26 Begins Quietly with 4 Listings, No New Issues This Week

Quick Summary

• Desco Infratech’s shares are set to debut on the BSE SME platform on Tuesday with a GMP of Rs 5, reflecting a 3% premium over the issue price.
• The IPO saw strong demand, being subscribed 83 times with non-institutional investors driving subscriptions up to over 200 times.
• The IPO proceeds will fund capital expenditure for setting up its Surat corporate office, machinery purchases, working capital needs, and general corporate purposes.
• Desco Infratech specializes in laying pipelines for Piped natural Gas (PNG), serving residential and commercial consumers. it also provides Operation & Maintenance services for underground and above-ground gas pipelines.
• Shri Ahimsa Naturals and ATC Energies shares will debut on April 2; Shri Ahimsa received robust subscription (60 times), while ATC Energies witnessed muted response.
• Identixweb shares are scheduled to be listed on April 3 but currently have no GMP.

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Indian Opinion analysis

Desco Infratech’s IPO listing reflects continued investor interest in niche infrastructure services within the SME segment despite broader slowing of the IPO market in India during FY25. Its high subscription rates emphasize confidence among non-institutional investors due to its specialization in PNG pipeline operations-a key growth area as india expands piped gas networks to enhance energy security.

The absence of new issues but concurrent listings signals cautious optimism at the start of FY26; large entities like reliance Jio and Zepto preparing their public offerings later this year may further invigorate market activity as forecasted by analysts.

For smaller entrants like Shri Ahimsa Naturals and ATC Energies-operating within niche sectors such as herbal extracts or lithium-ion batteries-their performance post-listing could offer insights into how investors perceive innovation-driven SMEs amid evolving industry needs.

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