IPO GMP buzz: Kusumgar leads with 39% GMP; SBI Funds Management, Laser Power also attract strong interest

The Indian primary market remains active with four IPOs drawing investor interest. Kusumgar IPO closes today with a strong grey market premium of about 39 percent or Rs 163 on the upper price band of Rs 419, implying an estimated listing price of Rs 582. Next week's headline issue is the Rs 11,693-crore SBI Funds Management IPO (entirely an OFS of 20.37 crore shares, price band Rs 545-Rs 574, GMP of about 16 percent), alongside Laser Power & Infra (Rs 742 crore, GMP about 16 percent) and Alpine Texworld (Rs 126.25 crore, GMP around 2 percent).