IPO GMP Today, Live Subscription Status and IPO Score 2026

This is where you track every mainboard and SME IPO in India, all in one place. The list above updates as issues open, close, and are listed. Tap any name, and you get a full breakdown: the offer, the three-year financials, the ratios most sites skip, and a proper read of the filing itself.

Here is the thing about most IPO pages online. They all tell you the same four numbers. Price band, dates, GMP, subscription. And they all pull those numbers from the same exchange filing within minutes of each other. So you end up reading the same page ten times.

We do something else.

We actually read the Red Herring Prospectus, cover to cover. Then we go looking for what sits outside the neat risk factors section. The related party deals. The profit that never turned into cash. The insiders who got their shares cheaply just months before the offer. The auditor who quietly got swapped out last year.

Then we tell you what we found. And just as honestly, we tell you where the filing didn’t give us enough to say anything at all. Every score goes up before the company lists. And we keep a public record of where we got it right and where we got it wrong.

One thing we do not do is tell you whether to apply. That is your call, not ours. What we do is put the whole filing in front of you, show the working, and step back.

What You Get on Every IPO Page

Tap through to any IPO, and you land on a full terminal, not a summary.

You get the offer laid out plainly. Price band, lot size, issue size, how much is fresh capital versus promoters cashing out, and where the money is actually going.

You get the deep financials. The full restated statements as disclosed, a complete ratio suite, a DuPont breakdown of return on equity, and the big three forensic models, Beneish, Altman and Piotroski. Each one is shown piece by piece. Where the filing hides an input, we leave the box blank instead of guessing.

You get the forensic findings. The red flags are buried in the footnotes, each one explained in context, because a number on its own means nothing until you know what sits next to it.

You get market context. GMP and live subscription were kept firmly separate from our score. Demand tells you about the crowd, not about the company.

And you get the formula notebook. Every figure we publish includes the formula and the actual maths shown next to it. Check us. That really is the point.

Mainboard vs SME IPOs, and Why It Matters

Every IPO in India lists on one of two platforms, and the gap between them is real.

A mainboard IPO lists on the main NSE or BSE board. SEBI reviews it directly. Retail investors can usually get in for around 14,000 to 15,000 rupees.

An SME IPO is different. It is listed on NSE Emerge or BSE SME, the exchange reviews it rather than SEBI, and after the rules tightened in 2025, the minimum application is now roughly 1 to 2 lakh. That high entry point is deliberate. It keeps casual money out.

There is more to watch with SME issues. Shares trade in fixed lots even after listing, so getting out can be tricky. Liquidity leans on a market maker for the first few years. And prices move inside tight circuit limits.

The 2025 rules also tightened the screws in good ways. Promoters can now sell only a limited slice. IPO money can no longer quietly repay promoter loans. And a company has to show real operating profit, not just a nice revenue chart. None of this makes SME IPOs bad. It makes them a different animal, one that rewards reading the filing closely. Which is exactly what we do.

What We Check That Nobody Else Does

The number every site leads with is GMP, the grey market premium. It is real, in the sense that it reflects demand. But it tells you nothing about whether the business underneath is any good, and it can swing on a rumour by lunchtime. So we treat it as background noise and keep it out of our score.

What we actually dig into is simpler and harder. Did the profit turn into cash? Is revenue being collected or just booked? Did the promoters reprice their own shares right before the offer? Do core parts of the business run through companies the promoters privately own? Is the money being raised funding growth, or just filling a hole?

These are the things the filing will tell you, if you read all 400 pages. And they are the things that decide how the investment behaves, long after the listing day excitement has worn off.

How to Apply to an IPO in India

Applications are submitted through your bank or broker using ASBA or UPI. The money stays blocked in your own account until shares are allotted. It only leaves your account if you actually get an allotment.

You will need a demat account to hold the shares, and a linked bank or trading account to apply. Applications stay open from the day the issue opens to the day it closes. Allotment usually lands the next working day, and listing follows soon after.

If you do not have a demat account yet, or you want to compare them properly on cost and service, we keep a separate broker comparison. Ranked on what they actually cost you, never on who pays us the most.

Where This Is Going

Right now, every IPO here is read and put together by us, by hand.

What is coming is Artha. A financial intelligence layer that reads these filings alongside you. It will surface the one finding that matters on the page you are looking at, answer “wait, what does this actually mean” in plain language, and connect a single company to the sector and the wider economy around it.

The goal has not changed since day one. The highest grade terminal for India that a normal person can actually afford. Valued on how many people it reaches, not on some cut it takes from your trades. IPOs are just the first surface. The rest of the market comes next.

Common Questions: FAQ