ET NEWS

The primary market is set for an action-packed week with a mix of mainboard and SME IPOs opening for subscription. Investors’ attention, however, will be firmly on the mainboard space where three offerings — Urban Company, Dev Accelerator, and Shringar House of Mangalsutra — are hitting the street. These companies will cumulatively raise over Rs 2,700 crore.Apart from the new issue openings, there are 8 listings scheduled for next week including that of Amanta Healthcare.Urban Company IPOUrban Company, India’s largest home services marketplace, is the highlight of the week. The company is launching its Rs 1,900 crore IPO on September 10, which will remain open until September 12.The offer includes a fresh issue of Rs 472 crore and an offer-for-sale of Rs 1,428 crore by existing shareholders. The price band has been set at Rs 98–103 per share, and at this range, the company is seeking a post-issue valuation of Rs 14,095–14,790 crore.This IPO is among the few tech listings in 2025, making it one of the most awaited offers of the year. Anchor investor bidding is expected a day before opening.Dev Accelerator IPOAnother mainboard listing lined up this week is Dev Accelerator Ltd., a flexible workspace provider. The company’s IPO will open alongside Urban Company on September 10 and close on September 12.Dev Accelerator has fixed a price band of Rs 56–61 per share and plans to raise up to Rs 143 crore through a fresh issue of 23.5 million equity shares. At the upper end of the band, the IPO values the company at about Rs 550 crore.While grey market buzz has been quiet so far, the company’s positioning in the fast-growing flexible workspace industry could attract investor interest as the subscription window opens.Shringar House of Mangalsutra IPOAlso opening this week is Shringar House of Mangalsutra, a Mumbai-based jewellery brand known for its mangalsutra designs. The IPO will open on September 10 and close on September 12, with a price band of Rs 155–165 per share.The company plans to raise Rs 401 crore through a 100% fresh issue of up to 2.43 crore shares. Shringar House holds around 6% market share in the organized mangalsutra segment (CY23) and is expected to use the IPO proceeds for expansion and working capital needs.Outlook for investorsWith three back-to-back mainboard IPOs opening this week, investors have a busy schedule ahead. While Urban Company stands out for its scale and rare tech IPO status, Dev Accelerator offers a play on India’s expanding flexible workspace industry, and Shringar House of Mangalsutra gives exposure to the organized jewellery space.SME issues such as Taurian MPS, Jay Ambe Supermarkets, Nilachal Carbo Metalicks, Karbonsteel Engineering, Krupalu Metals, and Airfloa Rail Technology are also lined up, ensuring plenty of opportunities for investors across segments.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Last year, Donald Trump couldn't stop talking about the economy. As a presidential candidate, he assailed Democrats for inflation and rode the persistent malaise over the high cost of living right back to the White House, promising swift relief even though economists warned that his plans could actually drive prices higher. Friday's lackluster jobs numbers are a reminder of how quickly the issue could present him, and his party, with political peril as elections approach. The economy added only 22,000 jobs in August, which, New York Times reporter Lydia DePillis explained, is a sign that the labor market appears to be stalling. Looking backward, the news is even worse: A revision to June's figures shows the labor market actually lost 13,000 jobs that month, making it the first negative number since December 2020. There are other signs of trouble. A key measure of underlying inflation rose over the summer as Trump's tariffs put pressure on prices, driving up the costs of things like furniture, appliances and clothing. Manufacturing activity has been shrinking for six months. It's not clear right now just what will happen to the economy between now and next year's midterm elections. (And Friday's news might deliver an upside for Trump: The darkening labor market could mean that he gets his long-sought cut to the interest rate, as Times reporter Colby Smith pointed out.) But what is clear, right now at least, is that the president has a problem. A recent Gallup poll found that his approval rating on the economy fell to 37% in August, from 42% in February. That's a steep drop from his average approval rating on the economy during his first term, which was 52%. When you dig into specific issues, it doesn't look any better. A poll late last month by The Economist and YouGov found inflation to be the top ranked issue for voters -- and just 34% of them approved of his handling of the issue, according to the poll. And then there's the vibe -- the feeling of malaise that weighed down President Joe Biden and Vice President Kamala Harris last fall. Last month, 63% of Americans thought the economy is getting worse, Gallup found -- 1 point higher than the 62% who believed that in October 2024, right before the election. Democrats are seizing the moment as an inflection point, eager to hammer home to voters what Trump has done to make the economy his own as they attempt to wrest control of Congress from Republicans next year. Trump passed expansive tax cuts into law and implemented steep tariffs that have driven up prices of everyday goods and raw materials. He is also trying to exert more control over the historically independent Federal Reserve. "The American people are feeling the impact of the Trump administration's dangerous one-man command policies in community after community," Rep. Hakeem Jeffries, D-N.Y., the House minority leader, said in a statement Friday. He added that Trump and Republicans had promised to lower the cost of living, but failed. Democrats have been struggling to unify around how to hit back at Trump, but many have taken a key lesson from their walloping loss in the 2024 elections. They believe a laser focus on the economy can help them win in tough races next year. Voters rated the economy as their top issue in every one of The New York Times and Siena College's preelection polls last year, and exit polls showed that Trump outperformed Harris among those who believed the economy was in poor shape. Trump's White House defended its handling of the economy in a statement Friday. Republicans say the midterms are a lifetime away, and that Trump will be able to shape what voters care about no matter what happens. "Will the economy always be top of voters' minds? Yes. But did voters care as much about trade, immigration or crime pre-Trump as they do now? No, and that's because Trump has made people care about things he thinks are important," said Bill Stepien, a Republican who managed the president's reelection campaign in 2020. "So don't assume President Trump will be reacting to any issue next November, because he will be trying to drive the discussion in his direction," Stepien added. Indeed, Trump is already working hard to make sure the midterms are about anything other than the economy. He has openly said that he believes his crackdown on crime in Washington -- which he has said he intends to expand to cities like Chicago and perhaps New Orleans -- will play well for him next fall. "I think it's going to be a big, big subject for the midterms," he said last week, referring to the issue of crime, "and I think the Republicans are going to do really well."