India’s primary market remains active as the first week of July 2026 brings a slate of initial public offerings spanning packaging, textiles, logistics, and cybersecurity. Two mainboard IPOs—Knack Packaging and Aastha Spintex—anchor the calendar alongside several SME issues on BSE SME and NSE Emerge. Investors are advised to focus on fund usage clarity and profitability trends rather than headline issue sizes.
Key Dates and Timeline
- Aastha Spintex: Opened June 29, closes July 1.
- Knack Packaging: Opens July 1, closes July 3 (anchor book closed June 30).
- SME IPOs (Kratikal Tech, Sampark India Logistics, Atharva Polyplast, Seemax Resources): Opened June 30, close July 2, listing July 7.
- Listings this week: Turtlemint Fintech Solutions and Anubhav Plast on June 30; Waterways Leisure Tourism on July 1; CSM Technologies on July 2.
Knack Packaging – Capacity Expansion in Focus
Gujarat-based Knack Packaging manufactures printed and laminated woven polypropylene (PLWPP) bags. The Rs. 439.5 crore IPO (Rs. 380 crore fresh issue + Rs. 59.5 crore OFS) values the company at roughly Rs. 2,080 crore at the upper price band. Key financials: Revenue rose from Rs. 747.38 crore in FY25 to Rs. 843.77 crore in FY26; profit increased from Rs. 73.81 crore to Rs. 92.72 crore. The company plans to deploy Rs. 320 crore of fresh proceeds toward a new manufacturing facility in Mehsana, Gujarat. Grey market premium stood at Rs. 17–Rs. 18 as of June 29, suggesting modest listing gains.
Aastha Spintex – Acquisition-Driven Growth
Aastha Spintex manufactures carded, combed, and compact combed cotton yarns and bales. The Rs. 170 crore fresh-issue IPO is priced at Rs. 125–Rs. 136 per share. Revenue grew 15.19% to Rs. 351.16 crore in FY25, while net profit jumped 40.7% to Rs. 22.92 crore. Funds will primarily finance the acquisition of Falcon Yarns Private Limited, expanding capacity to 17,457 MTPA. The IPO is fully valued at roughly 15x estimated FY27 PAT, leaving limited safety margin. Investors should weigh integration risk and raw material dependency.
SME Issues to Watch
- Kratikal Tech: Cybersecurity and rapid application development; raising Rs. 40 crore on BSE SME.
- Sampark India Logistics: Logistics services across 18 states; raising Rs. 27.22 crore.
- Atharva Polyplast: Precision plastics manufacturer from Satara; raising Rs. 27 crore for working capital and debt reduction.
SME IPOs carry higher post-listing liquidity risk and wider bid-ask spreads. Investors should assess exit options carefully.
Investor Outlook
Knack Packaging presents a clearer investment case with steady growth, rising profitability, and a concrete capex plan. Aastha Spintex’s story hinges on successful M&A integration and margin expansion. Given favorable market conditions, institutional participation is expected, but issuer-specific due diligence remains critical. Monitoring subscription trends across QIB and retail categories, along with grey market premiums, will help gauge demand.
For full details, refer to each company’s Red Herring Prospectus.