July 2026 IPO GMP & Subscription Status: SBI MF, Kusumgar, Laser Power, and More
IPOGMPTracker Team
Jul 11, 2026 · 3 min read
July 2026 IPO GMP & Subscription Status: SBI MF, Kusumgar, Laser Power, and More
Complete updates on current and upcoming Mainboard and SME IPOs in India, featuring live grey market premiums and subscription figures.
1.July 2026 Primary Market Overview
The Indian primary market is highly active in July 2026 with a robust lineup of Mainboard and SME IPOs. High subscription numbers and strong grey market premiums (GMP) highlight positive investor interest. Here is a breakdown of the ongoing and upcoming public offerings.
2.Complete Summary Table
| Company | Board | Dates | Price Band | Lot | Issue Size | Subscription | Expected Premium |
|---|---|---|---|---|---|---|---|
| Kusumgar | Mainboard | Jul 8 – Jul 10 | ₹398–419 | 35 | ₹650 Cr | 135.76x | ₹158–160 (38%) |
| Laser Power & Infra | Mainboard | Jul 9 – Jul 13 | ₹203–214 | 70 | ₹742 Cr | 1.05x | ₹33–35 (15%) |
| SBI Mutual Fund | Mainboard | Jul 14 – Jul 16 | ₹545–574 | 26 | ₹9,795.31 Cr | — | ₹107–110 (19%) |
| Alpine Texworld | Mainboard | Jul 14 – Jul 16 | ₹100–105 | 142 | ₹126.25 Cr | — | ₹2 (2%) |
| Happy Steels | NSE SME | Jul 9 – Jul 13 | ₹62–66 | 2,000 | ₹25 Cr | 3.18x | ₹4–5 |
| Devson Catalyst | BSE SME | Jul 9 – Jul 13 | ₹112–118 | 1,200 | ₹42.34 Cr | 30.15x | ₹30–32 |
| Millworks Technologies | BSE SME | Jul 14 – Jul 16 | ₹315–331 | 400 | ₹160.34 Cr | — | ₹295–297 |
| Lohia Corp | Mainboard | TBA | TBA | — | — | — | — |
3.Mainboard IPOs in Detail
Kusumgar IPO
- Bidding dates: Jul 8 to Jul 10, 2026
- Issue size: ₹650 Cr
- Offer price: ₹398–419 with a lot size of 35 shares
- Subscription: 135.76x — allotment status is awaited
- Expected listing premium: ₹158–160 (38%)
Laser Power & Infra IPO
- Bidding dates: Jul 9 to Jul 13, 2026
- Issue size: ₹742 Cr
- Offer price: ₹203–214 with a lot size of 70 shares
- Subscription: 1.05x
- Expected premium: ₹33–35 (15%)
SBI Mutual Fund IPO
- Bidding dates: Jul 14 to Jul 16, 2026
- Price band: ₹545–574 with a lot size of 26 shares
- Pre-IPO placement: SBI Funds Management raised ₹1,880 Cr, reducing the IPO size to ₹9,795.31 Cr
- Expected premium: ₹107–110 (19%)
- Shareholder quota: the issue features a dedicated shareholder quota
Alpine Texworld IPO
- Bidding dates: Jul 14 to Jul 16, 2026
- Issue size: ₹126.25 Cr
- Price band: ₹100–105 with a lot size of 142 shares
- Expected listing premium: ₹2 (2%)
4.SME IPOs in Detail
Happy Steels IPO (NSE SME)
- Bidding dates: Jul 9 to Jul 13, 2026
- Issue size: ₹25 Cr at ₹62–66, lot size 2,000
- Subscription: 3.18x with GMP of ₹4–5
Devson Catalyst IPO (BSE SME)
- Bidding dates: Jul 9 to Jul 13, 2026
- Issue size: ₹42.34 Cr at ₹112–118, lot size 1,200
- Subscription: 30.15x with GMP of ₹30–32
Millworks Technologies (BSE SME)
- Bidding dates: Jul 14 to Jul 16, 2026
- Offer price: ₹315–331, lot size 400, issue size ₹160.34 Cr
- GMP: ₹295–297
Lohia Corp (Mainboard)
- Dates: TBA, with offer prices not yet announced
5.How to Track These Issues
- Live subscription: Category-wise bidding on the IPO subscription status page
- Allotment status: Check your application on the IPO allotment status page
- Everything open now: current IPOs and SME IPOs
- What's next: upcoming IPOs and the IPO event calendar
6.Conclusion
July 2026 is a heavy month across both boards, with subscription ranging from 1.05x to 135.76x. GMP figures above are informal and unregulated, are not published by any exchange, and can change before listing — read the offer documents and consult a qualified adviser before applying.
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