Six Companies Set for IPO, Three Candidates Favoured by Analysts

A number of prospective issuers are scheduled to make their stock market debut, or Initial Public Offering (IPO), in July 2026. Amid market conditions prone to volatility, investors must be astute in selecting these newcomers on the Indonesia Stock Exchange (IDX).

Six stocks are set to list next month. They are PT Niramas Utama Tbk (JELI), PT Prodia Diagnostic Line Tbk (PRDL), PT Esa Medika Mandiri Tbk (EMMI), PT Nitrasanata Dharma Tbk (JECX), PT Bach Multi Global Tbk (BACH), and PT Rans Entertainmen Indonesia Tbk (RANS).

Head of Research at Korea Investment & Sekuritas Indonesia (KISI) Muhammad Wafi stated that conglomerate affiliation could be a differentiating factor for IPO stocks in a volatile market. In this regard, BACH, which is affiliated with the Djarum Group, and JECX, with the Emtek Group, are considered to have backing from credible institutions and relatively more monitorable governance.

Wafi also noted that RANS actually has appeal in terms of brand awareness. However, dependence on public figures and a business model that is unproven for a public company could pose risks for RANS. Meanwhile, EMMI and JELI shares are viewed as tending to be more speculative.

From this assessment, Wafi advised investors to prioritise IPO stocks with clear fundamentals and conservative pricing. The ideal investment duration for IPO stocks is a minimum of 6–12 months to allow time to realise potential gains after listing.

“Investors entering IPO stocks post-listing is still possible and even safer because the first day’s price action can be an indicator of genuine demand,” he said on Thursday (25/6).

Furthermore, Wafi reminded that if an IPO share price plummets after its debut but the fundamentals remain unchanged, this actually presents an opportunity for investors to enter. In other words, it is not something that must always be avoided.