Summary：**SBI MF Leads 3 New IPOs Raising ₹11,980 Cr as GMPs Soar 111%****Introduction** India’s primary ma

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**SBI MF Leads 3 New IPOs Raising ₹11,980 Cr as GMPs Soar 111%**

**Introduction**
India’s primary market is gearing up for a flurry of activity next week, with three fresh public offers set to mobilise nearly ₹11,980 crore. The headline act is SBI Funds Management, which will steer two of the listings, while Alpine Texworld anchors the third. Early grey‑market premiums (GMP) have already jumped past the 100% mark, signalling strong investor appetite despite lingering macro‑economic caution.

**Key Developments**
- **SBI MF‑backed offers**: The fund house will lead a ₹6,400 crore IPO for a diversified financial services firm and a ₹3,200 crore issue for a mid‑cap manufacturing player. Both prospectuses highlight robust cash‑flow generation and expansion plans in digital lending and specialty chemicals, respectively.
- **Alpine Texworld**: The textile‑focused conglomerate aims to raise ₹2,380 crore to fund capacity upgrades at its Gujarat units and to reduce debt. The company’s prospectus emphasizes a 15% YoY revenue rise in FY24 and a shift toward sustainable fabrics.
- **GMP surge**: Grey‑market traders are quoting premiums of ₹110–₹130 per share for the SBI MF deals and roughly ₹90 for Alpine Texworld, translating to an average GMP of 111% over the issue price. Such levels are rare in the current fiscal year and reflect confidence in the issuers’ fundamentals and the broader bullish sentiment in domestic equities.

**Industry Analysis**
The upcoming batch underscores a shift in IPO dynamics: fund houses are increasingly acting as sponsors rather than mere investors, leveraging their distribution networks to price aggressively. Analyst