IPO GMP Buzz: Millworks Tech leads at 120% GMP; SBI Funds in focus among 6 IPOs

Multiple IPOs are generating strong grey market premium activity this week, led by the Rs 9,795 crore SBI Funds Management IPO opening July 14-16, 2026 with a GMP of around Rs 91 (about 16% upside) over the upper price band of Rs 574. Among SME issues, Millworks Technologies IPO commands the highest premium at Rs 395 or roughly 120% over its issue price of Rs 331, implying an estimated listing price near Rs 726. Kusumgar IPO, with allotment finalised on July 13, shows a GMP of Rs 160 (about 39%) over its issue price of Rs 419, while Laser Power & Infra (GMP Rs 32, around 15%), Devson Catalyst (GMP Rs 45, about 38%), Happy Steels (GMP Rs 10, roughly 15%), and Alpine Texworld (GMP Rs 2, around 2%) round out the week’s offerings.