IPO Market Fires on All Cylinders as Devson Jumps 66% and SBI Funds Enters Final Hours

KEY TAKEAWAYS

• Devson Catalyst’s IPO listing delivered a 66% premium, with shares debuting at ₹196 on BSE SME against a ₹118 issue price, after subscription of 205.06 times per NiftyTrader’s IPO tracker
• Laser Power & Infra debuted at ₹250 on NSE (16.82% premium) and ₹269 on BSE (25.7% premium), taking its post-listing market cap to ₹3,775.91 crore
• Happy Steels began trading on NSE Emerge against its ₹66 issue price after a 72.43x subscription
• SBI Funds Management’s ₹9,813-crore OFS was subscribed 2.77 times heading into its final bidding day, with listing scheduled for July 21
• Alpine Texworld and Millworks Technologies also closed subscription today; Sotefin Bharat opened a fresh ₹85-crore issue in a ₹178–187 price band

Thursday’s Devson Catalyst IPO listing headlined one of the busiest sessions of the year on Dalal Street, as three companies made their stock market debut, three public issues wrapped up subscription, and a fresh IPO opened for bidding, all on July 16.

The spread of activity gives investors a real-time read on primary market appetite: strong listing-day gains on the SME side, steady institutional demand for a large mainboard AMC issue, and a new offering testing fresh waters on day one of bidding.

Devson Catalyst Leads The Debut Pack With 66% Gain

The Devson Catalyst IPO listing saw the Gujarat-based catalysts and ceramic balls manufacturer’s shares open on the BSE SME platform at ₹196 apiece, a 66% premium over its ₹118 issue price. The stock drew intense demand during its bidding window, closing with an overall subscription of 205.06 times, according to NiftyTrader’s IPO tracker. The company, which supplies catalysts, adsorbents and ceramic balls to the oil refining, petrochemicals, fertiliser and steel sectors, raised ₹42.34 crore through the issue and plans to use the proceeds to set up a new manufacturing facility in Gujarat.

Laser Power & Infra, Happy Steels Also Make Their Debut

Kolkata-based Laser Power & Infra, a power cables and EPC solutions provider, listed at ₹250 on the NSE, a 16.82% premium over its ₹214 issue price, and at ₹269 on the BSE, a 25.7% premium. The listing valued the company at a market capitalisation of ₹3,775.91 crore. The ₹742-crore issue, comprising a ₹542-crore fresh issue and a ₹200-crore offer-for-sale, had been subscribed 38.94 times during its bidding window.

Punjab-based auto components maker Happy Steels began trading on the NSE Emerge platform against its ₹66 issue price, after its ₹25-crore, fully fresh-issue offering was subscribed 72.43 times. Proceeds are earmarked for additional plant and machinery and loan repayment at its Ludhiana facility.

Check live: Laser Power & Infra IPO

SBI Funds Management, Alpine Texworld, Millworks Technologies Close Today

On the subscription side, SBI Funds Management’s ₹9,813-crore share sale, India’s largest asset management company by quarterly average AUM, was subscribed 2.77 times as bidding entered its final day. The issue, priced at ₹545–574 per share and structured entirely as an offer-for-sale by State Bank of India and Amundi India Holding, is scheduled to list on the NSE and BSE on July 21.

Textile processor Alpine Texworld’s mainboard issue had crossed 80% subscription with bidding underway on its final day, while Millworks Technologies, which supplies precision-machined components to the railway, aerospace, defence, metro rail, drone and semiconductor industries, had been subscribed 44.6 times on its SME issue.

Also Check:

SBI Funds Management IPO

Alpine Texworld IPO

Millworks Technologies IPO

Sotefin Bharat Opens ₹85-Crore IPO

Kolkata-based Sotefin Bharat, a turnkey provider of robotic and automated parking solutions backed by Swiss promoter Sotefin SA, opened its public issue today in a price band of ₹178–187 per share, aiming to raise up to ₹85 crore. Proceeds are earmarked for a new manufacturing facility in Kolkata and working capital requirements.

What Today’s Listings Signal For The IPO Market

With today’s Devson Catalyst IPO listing turning in the day’s sharpest gain, and Laser Power & Infra and Happy Steels also opening above issue price, SME and mainboard debuts continue to reward investors who bid early. Traders are now watching whether SBI Funds Management’s final subscription count and Sotefin Bharat’s early demand can keep that momentum going into next week.

NiftyTrader Desk View

IPO / Stock Listing / Subscription Trigger Trader View Devson Catalyst Listed at ₹196 on BSE SME, up 66% over issue price Trading well above issue price on debut after 205x subscription Laser Power & Infra Listed at ₹250 (NSE) and ₹269 (BSE), up to 25.7% premium Post-listing market cap near ₹3,776 crore on 38.9x subscription base Happy Steels Debuted on NSE Emerge against ₹66 issue price SME counter with 72.4x subscription; debut-day volumes typically thinner SBI Funds Management OFS subscribed 2.77x heading into final bidding day Country’s largest AMC IPO; listing scheduled for July 21 Alpine Texworld Subscription crossed 80% in final bidding hours Mainboard textile issue; final-day figures still awaited Millworks Technologies Subscribed 44.6x on SME demand Precision engineering supplier to railway, aerospace, defence sectors Sotefin Bharat Opens today in ₹178–187 band, targets ₹85 crore First bidding day for an automated parking solutions provider

Source: Company RHPs, BSE/NSE exchange filings, NiftyTrader IPO tracker, subscription data as of July 16, 2026.

For a fuller read on how institutional flows are shaping sentiment through this heavy IPO week, track daily FII and DII activity on NiftyTrader’s FII-DII Tracker: https://www.niftytrader.in/fii-dii-data

Recent SME And Mainboard Listings: Day Snapshot

Company Listing Date Issue Price (₹) Listing Gain LTP (₹) Today’s Gain Devson Catalyst 16 Jul 2026 118 NA 195.00 NA Laser Power & Infra 16 Jul 2026 214 NA 259.65 NA Happy Steels 16 Jul 2026 66 NA 71.30 NA Kusumgar 13 Jul 2026 419 35.80% 609.90 7.19% Knack Packaging 08 Jul 2026 170 10.59% 200.59 6.70% Sampark India Logistics 07 Jul 2026 84 NA 94.20 NA

Source: Exchange-linked IPO listing tracker, intraday data as of July 16, 2026.

Bottom Line

Thursday’s IPO calendar underscores how active India’s primary market remains, with three fresh listings, three subscription windows closing and a new SME issue opening, all within a single trading session. With SBI Funds Management’s ₹9,813-crore AMC listing due on July 21 and Sotefin Bharat’s bidding now open, investors have more decision points ahead before the week is out.

Investments in securities markets are subject to market risks. This article is for informational purposes only and does not constitute investment advice. Read all scheme-related and offer documents carefully before investing, and consult a SEBI-registered investment adviser for guidance specific to your financial situation.