The primary market is expected to remain largely quiet in the coming week starting December 29, owing to the New Year holiday season. Investors will see just one new IPO launch, and that too in the SME segment, with no mainboard IPO opening for subscription.
Upcoming IPOs Opening Next Week
Modern Diagnostic & Research Centre IPO
Gurugram-based Modern Diagnostic & Research Centre, a diagnostic chain, has filed to raise nearly ₹37 crore through an IPO consisting entirely of a fresh issue of 40.99 lakh shares.
- Price band: ₹85–90 per share
- Valuation: Around ₹136 crore
- Issue opens: December 31, 2025
- Issue closes: January 2, 2026
E to E Transportation Infrastructure IPO
E to E Transportation Infrastructure, which provides system integration and engineering solutions for the railway sector, will close its ₹84-crore IPO on January 2.
- Issue opened: December 26, 2025
- Price band: ₹164–174 per share
The company is also expected to list on NSE Emerge next week.
IPO Listings Next Week: 11 Companies to Debut
Despite muted fundraising activity, 11 companies are scheduled to list on stock exchanges next week, including one from the mainboard segment.
Mainboard Listing
- Gujarat Kidney & Super Speciality Ltd
- Gujarat-based multispeciality hospital chain
- IPO size: ₹251 crore
- Subscription: 5.21 times
- Listing date: December 30
SME Listings on December 30
- BSE SME: Dachepalli Publishers
- NSE Emerge:
- Shyam Dhani Industries
- Sundrex Oil Company
- EPW India
Market observers noted that Shyam Dhani Industries IPO shares commanded nearly 100% premium in the grey market, while Dachepalli Publishers and EPW India saw moderate premiums. Gujarat Kidney & Super Speciality and Sundrex Oil Company did not attract any grey market premium.
SME Listings on December 31
- NSE Emerge: Dhara Rail Projects
- BSE SME:
- Admach Systems
- Nanta Tech
- Bai Kakaji Polymers
- Apollo Techno Industries
Grey market trends indicate:
- Dhara Rail Projects: ~14% premium
- Apollo Techno Industries: ~9% premium
- Admach Systems, Nanta Tech, Bai Kakaji Polymers: Moderate premium
January 2 Listing
- E to E Transportation Infrastructure will debut on NSE Emerge.
After the first day of bidding on December 26, the IPO attracted an 83% grey market premium, according to market participants.
Disclaimer
Grey market premiums (GMP) are unofficial indicators and subject to sharp changes. Investors should rely on company fundamentals and consult certified financial advisors before making investment decisions.
