Initial Public Offerings

Bidding / Listing Price - ₹00 / ₹00 Exchange: BSE & NSE Price Band: ₹161 – ₹170 per share Issue Size: ₹439.50 Crore Current GMP: ₹29 Estimated Listing Price: ₹199 Expected Listing Gain: 17.06% Current Subscription: 7.56x Listing Date: 08-Jul-2026 Post / Analysis: Knack Packaging IPO has received a positive response from investors with a subscription of 7.56x. The Grey Market Premium (GMP) has increased steadily from ₹11.50 to ₹29, indicating improving market sentiment. Based on the latest GMP, the expected listing price is around ₹199, implying a potential listing gain of approximately 17% over the upper price band. However, GMP is unofficial and may change before listing. Investors should also consider the company's financial performance, business fundamentals, valuation, and overall market conditions before making an investment decision. Advise: Apply (Moderate Risk). The IPO is supported by a positive GMP trend and healthy subscription figures, suggesting the possibility of listing gains. However, GMP is not guaranteed, so investors should apply only after evaluating their own risk tolerance and investment objectives.

Bidding / Listing Price - ₹808 / ₹681 Waterways Leisure Tourism IPO Basic Details IPO Name: Waterways Leisure Tourism IPO IPO Type: Book Building Issue IPO Size: ₹585 Crore Issue Type: Fresh Issue Only Open Date: 23-Jun-2026 Close Date: 25-Jun-2026 Expected Allotment Date: 29-Jun-2026 Expected Listing Date: 01-Jul-2026 Company Business Operates in the leisure and tourism sector. Provides water-based tourism services. Offers cruise and hospitality services. Engaged in travel and tourism-related activities. IPO Pricing Price Band: ₹769 – ₹808 per share Lot Size: 18 Shares Minimum Retail Investment: ₹14,544 Reservation Details QIB Reservation: 75% NII/HNI Reservation: 15% Retail Reservation: 10% Reservation Analysis QIB allocation of 75% is very high and indicates strong institutional focus. NII/HNI allocation of 15% is moderate. Retail allocation of 10% is relatively low. Lower retail quota may result in higher competition among retail investors. Reservation Ratio QIB : NII : Retail = 75 : 15 : 10 Key Positives Pure Fresh Issue with no OFS. Strong institutional allocation. Operates in the growing tourism and hospitality sector. High QIB participation can improve market confidence. Key Things to Watch IPO valuation at the upper price band. Company profitability and earnings growth. Debt levels and cash flow position. Subscription demand across all investor categories. FOLIUX View Institutionally focused IPO structure. Monitor QIB and Retail subscription trends closely. Retail investors may consider applying for 1 lot if comfortable with the sector, valuation, and company fundamentals.

Bidding / Listing Price - ₹152 / ₹134.90 * IPO Size: ₹882.67 Cr * Price Band: ₹152 per share * Listing: BSE, NSE * Issue Type: Book Building Issue * Anchor Subscription: 1.00x * Total Subscription (Day 2): 0.54x * Retail Subscription: 0.64x * QIB (Ex Anchor): 0.75x * NII: 0.05x * Total Applications: 30,242 Post / Analysis: As of Day 2, the IPO has received moderate interest from retail investors and QIBs, while NII participation remains low. The issue is currently subscribed 0.54 times overall. Retail demand is stronger than NII demand, indicating interest from small investors but limited participation from high-net-worth investors. Final-day subscription and GMP trends should be monitored before making an investment decision. Advise: * Monitor final subscription figures on the closing day. * Check GMP and institutional demand before applying. * Suitable for investors with a medium to long-term investment horizon. * Review company financials, profitability, growth prospects, and valuation before investing. * Avoid investing solely based on subscription numbers or market sentiment.

Bidding / Listing Price - ₹192 / ₹268 Notes: IPO Size: ₹630.88 Cr (Offer for Sale) Price Band: ₹182 – ₹192 per share Issue Price: ₹192 per share Lot Size: 78 Shares Listing: BSE & NSE Allotment Date: 08-Jun-2026 (Expected) Listing Date: 10-Jun-2026 (Expected) Retail Subscription (Day 2): 7.40x Overall Subscription (Day 2): 8.89x Post / Analysis: CMR Green Technologies is one of India's leading secondary aluminium recyclers with a strong presence in the automotive sector. The company serves major customers including Honda Cars India, Bajaj Auto, Hero MotoCorp, Royal Enfield, and Maruti Suzuki. Financial performance has improved significantly after FY24, with PAT of ₹162.39 Cr for the nine months ended Dec 2025. The company benefits from increasing demand for recycled metals and sustainability-focused manufacturing. However, the issue appears fully priced at a P/E of around 27x based on FY25 earnings.