IPO Watch: Live GMP, Subscription Status, Score & DRHP Forensics
Track every mainboard and SME IPO in one place: live subscription figures, grey-market premium (GMP, unofficial), price band, lot size, and the independent FinMinutes Score — computed deterministically from the company's own DRHP/RHP, not opinion. Unlike listing sites, each IPO here carries a forensic read of the filing: contingent liabilities, related-party exposure, litigation, and concentration risks that sit in the footnotes. Educational, grounded in the filing, never a buy/sell call.
144Tracked
2Live
1Upcoming
86Listed in Profit
22Listed in Loss
₹1.40L crIssue Size
Live Now
Reliance Jio MAINBOARD
🔴 LIVE 🔍 The IPO is structured as a 100% Fresh Issue of 27,00,00,000 Equity Shares with no Offer for Sale by promoter Reliance Industries Limited or public…
2026-10-21 – 2026-10-23
₹1065–1119
2.22x
64/100
₹30188 cr
12
₹13,428
₹246
JPL
Closes tomorrow
Check allotment status →
Read the RHP →
More details ▾
—
66.43% → —
0%
Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India + 16 more (hover for full list)
KFin Technologies Limited
Not disclosed
Paras Healthcare MAINBOARD
🔴 LIVE 🔍 The IPO comprises a Fresh Issue of ₹ 500.00 Crore to prepay parent and subsidiary debt (₹ 375.00 Crore), alongside an Offer for Sale of ₹ 950.00…
2026-10-21 – 2026-10-23
₹660–693
0.09x
62/100
₹1450 cr
21
₹14,553
₹25
PARASHLTH
Closes tomorrow
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Rs 500 cr fresh · Rs 950 cr OFS
72.8% → —
0%
JM Financial, BofA Securities India, Nuvama Wealth Management
MUFG Intime India Private Limited
Not disclosed
Closed — allotment & listing ahead
Zetwerk Manufacturing MAINBOARD
CLOSED 🔍 Zetwerk incurred persistent negative cash flow from operating activities of ₹ -681.53 crore in FY26, ₹ -386.29 crore in FY25, and ₹ -281.54 crore in…
2026-10-15 – 2026-10-19
₹143–151
3.05x
51/100
₹5012 cr
99
₹14,949
₹4
ZETWERK
Allotment today
Check allotment status →
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Rs 2,830 cr fresh · Rs 2,182 cr OFS
15.86% → —
1.85%
Kotak Mahindra Capital Company, Morgan Stanley India Company, Goldman Sachs (India) Securities + 4 more (hover for full list)
KFin Technologies Limited
Not disclosed
Sahajanand Medical Technologies MAINBOARD
CLOSED 🔍 In FY 2022-23, Income Tax Department conducted a search under Section 132 on SMT and former subsidiary VCL, resulting in pending tax appeals and…
2026-10-15 – 2026-10-19
₹327–344
14.08x
62/100
₹475 cr
43
₹14,792
₹15
SMT
Allotment today
Check allotment status →
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Rs 0 cr fresh · Rs 475 cr OFS
36.71% → —
0%
Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets (India) + 1 more (hover for full list)
MUFG Intime India Private Limited
Not disclosed
Tonbo Imaging India MAINBOARD
CLOSED 🔍 Tonbo Imaging India Limited recorded negative cash flows from operating activities of ₹ -63.22 crore in FY26 and ₹ -136.12 crore in FY25 due to…
2026-10-15 – 2026-10-19
₹665–700
96.63x
50/100
₹852 cr
21
₹14,700
₹512
TONBO
Allotment today
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Rs 0 cr fresh · Rs 852 cr OFS
17.43% → —
0%
JM Financial, IIFL Capital Services
KFin Technologies Limited
Not disclosed
Shellz India SME
CLOSED 🔍 Auditor observations in CARO reports for FY24, FY25, and FY26 regarding differences between quarterly bank statements filed for working capital…
2026-10-15 – 2026-10-19
₹170–179
58.01x
52/100
₹60 cr
800
₹286,400
₹25
SHELLZ
Allotment today
Check allotment status →
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Rs 60.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
88.11% → —
0%
Socradamus Capital
Bigshare Services Private Limited
Not disclosed
Bonfiglioli Transmissions MAINBOARD
CLOSED 🔍 The IPO is a 100% Offer for Sale (OFS) of 4,32,39,042 equity shares by the promoter selling shareholder Bonfiglioli S.p.A., with no fresh issue…
2026-10-15 – 2026-10-19
₹558–586
31.66x
63/100
₹2534 cr
25
₹14,650
₹125
BONFIG
Allotment today
Check allotment status →
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Rs 0.19 cr fresh · Rs 2,534 cr OFS (fresh derived from issue size)
100% → —
0%
Axis Capital, BNP Paribas, ICICI Securities + 1 more (hover for full list)
MUFG Intime India Private Limited
Not disclosed
Upcoming
Core4 Engineers SME
📅 UPCOMING 2026-10-23 – 2026-10-27
₹88–93
not open
—
₹55 cr
1200
₹223,200
—
Opens tomorrow
Check allotment status →
Forensic read of the filing is in progress. Calendar and offer facts are live.
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Not disclosed
Not disclosed
—
—
Book not yet open
Filed (awaiting dates)
boAt (Imagine Marketing) MAINBOARD
⏳ FILED — – —
awaited
not open
—
awaited
—
—
—
More details ▾
—
Not disclosed
Not disclosed
—
—
Book not yet open
Zepto MAINBOARD
⏳ FILED — – —
awaited
not open
—
awaited
—
—
—
More details ▾
—
Not disclosed
Not disclosed
—
—
Book not yet open
Acko MAINBOARD
⏳ FILED — – —
awaited
not open
—
awaited
—
—
—
More details ▾
—
Not disclosed
Not disclosed
—
—
Book not yet open
OYO MAINBOARD
⏳ FILED — – —
awaited
not open
—
awaited
—
—
—
Recently Listed
CMR Green Technologies MAINBOARD
✅ LISTED 2026-06-03 – 2026-06-05
₹182–192
+39.58%
—
₹631 cr
78
₹14,976
—
CMRGREEN
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Hexagon Nutrition MAINBOARD
✅ LISTED 2026-06-05 – 2026-06-09
₹42–45
+7.22%
—
₹139 cr
333
₹14,985
—
HEXAGON
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Avience Biomedicals SME
✅ LISTED 2026-06-18 – 2026-06-22
₹196–208
+90%
—
₹30 cr
600
₹249,600
—
AVIENCE
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Turtlemint Fintech Solutions MAINBOARD
✅ LISTED 2026-06-19 – 2026-06-23
₹144–152
-11.25%
—
₹883 cr
98
₹14,896
—
TURTLEMINT
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Shreedhar Spinners SME
✅ LISTED 2026-06-23 – 2026-06-25
₹51–53
+2.64%
—
₹31 cr
2000
₹212,000
—
SHREEDHAR
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Jivial Industries SME
✅ LISTED 2026-06-23 – 2026-06-25
₹196–196
-20%
—
₹32 cr
600
₹235,200
—
JIVIAL
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Waterways Leisure Tourism Limited MAINBOARD
✅ LISTED 2026-06-23 – 2026-06-25
₹769–808
-15.72%
—
₹585 cr
18
₹14,544
—
CORDELIA
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Advit Jewels MAINBOARD
✅ LISTED 2026-06-23 – 2026-06-25
₹130–138
+36.88%
—
₹165 cr
100
₹13,800
—
RAMBHAJO
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
CSM Technologies MAINBOARD
✅ LISTED 🔍 Significant exposure to performance bank guarantees and earnest money deposits (EMDs) required to bid for and execute large government tenders.
2026-06-24 – 2026-06-29
₹107–113
0%
70/100prov.
₹146 cr
132
₹14,916
—
CSM
More details ▾
Rs 146 cr fresh · Rs 0.22 cr OFS (ofs derived from issue size)
94.9% → —
Not disclosed
Keynote Financial Services
KFin Technologies Limited
Not disclosed
✅ LISTED
🔍 Revenue rose from Rs 22.10 Cr in FY25 to Rs 148.77 Cr in FY26 (+573%), but operating cash flow was Rs -10.76 Cr against PAT of Rs 37.06 Cr. Trade…
2026-07-14 – 2026-07-16
₹315–331
+90%
65/100
₹160 cr
400
₹264,800
₹310
MILLWORKS
More details ▾
Rs 160 cr fresh · Rs 0 cr OFS
65.08% → 47.19%
0%
GYR Capital Advisors
Purva Sharegistry (India) Private Limited
₹44 cr
Alpine Texworld MAINBOARD
✅ LISTED 🔍 CRISIL downgraded the company's long-term rating to 'CRISIL BB/Stable' and short-term rating to 'CRISIL A4+' with an 'Issuer Not Cooperating' remark…
2026-07-14 – 2026-07-16
₹100–105
0%
74/100
₹126 cr
142
₹14,910
₹5
ALPINETEX
More details ▾
Rs 126 cr fresh · Rs 0 cr OFS
90.36% → 61.96%
0%
D and A Financial Services
Kfin Technologies Limited
Not disclosed
SBI Funds Management Limited MAINBOARD
✅ LISTED 🔍 The auditor's CARO report and risk factors detail multiple instances of fraud, including an employee misappropriating ₹49.20 million, another…
2026-07-14 – 2026-07-16
₹545–574
+6.85%
71/100
₹11692.9 cr
26
₹14,924
₹92
More details ▾
Rs 0 cr fresh · Rs 11,693 cr OFS
98.19% → 88.19%
0%
Kotak Mahindra Capital Company, Axis Capital, BofA Securities India + 6 more (hover for full list)
KFin Technologies Limited
Not disclosed
Sotefin Bharat SME
✅ LISTED 🔍 Revenue from operations grew substantially to Rs 116.74 Cr in FY26, but operating cash flow turned negative to Rs -6.85 Cr against a reported PAT of…
2026-07-16 – 2026-07-20
₹178–187
+9.63%
70/100prov.
₹90 cr
600
₹224,400
₹22
SOTEFIN
More details ▾
Rs 89.76 cr fresh · Rs 0 cr OFS
62.11% → 45.69%
0%
Choice Capital Advisors
Bigshare Services Private Limited
₹26 cr
Caliber Mining & Logistics Limited MAINBOARD
✅ LISTED 🔍 In FY26, the top 10 customers accounted for 98.40% of revenue from operations, and the top 3 customers contributed 90.11%. The single largest…
2026-07-17 – 2026-07-21
₹402–424
+17.98%
70/100
₹450 cr
35
₹14,840
₹25
CMLL
More details ▾
Rs 400 cr fresh · Rs 50.00 cr OFS
88.75% → —
0%
DAM Capital Advisors
KFin Technologies Limited
Not disclosed
✅ LISTED
🔍 The company presented FY26 financials on a consolidated basis, but provided FY25 and FY24 on a standalone basis, silently breaking direct…
2026-07-20 – 2026-07-22
₹100–100
0%
58/100prov.
₹18 cr
1200
₹240,000
₹27
GULF
More details ▾
Rs 18.19 cr fresh · Rs 0 cr OFS
99.88% → 72.88%
0%
Interactive Financial Services
Kfin Technologies Limited
Not disclosed
✅ LISTED
🔍 The company reported strong revenue growth to Rs 95.55 Cr and PAT of Rs 12.36 Cr in FY26, but operating cash flow turned negative to Rs -0.96 Cr…
2026-07-21 – 2026-07-23
₹72–77
+12.99%
70/100
₹50 cr
1600
₹246,400
₹0
METALIC
More details ▾
Rs 50.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
83.56% → —
0%
Smart Horizon Capital Advisors
Bigshare Services Private Limited
Not disclosed
✅ LISTED
🔍 The statutory auditor flagged massive discrepancies between the quarterly stock and book debt statements submitted to banks and the actual books of…
2026-07-22 – 2026-07-24
₹66–70
+90%
70/100
₹19 cr
2000
₹280,000
₹13
MALA
More details ▾
Rs 19.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
96.46% → —
0%
GYR Capital Advisors
Kfin Technologies Limited
Not disclosed
Cube Highways Trust InvIT MAINBOARD
✅ LISTED 🔍 Distributions of 1,475.87cr exceeded net distributable cash flow of 1,082.38cr — a 73.3% coverage ratio.
2026-07-22 – 2026-07-24
₹151–152
+1.97%
74/100prov.
₹5000 cr
95
₹14,440
—
CUBEINVIT
More details ▾
Rs 0 cr fresh · Rs 5,000 cr OFS
Not disclosed
Not disclosed
Kotak Mahindra Capital Company, JM Financial, HDFC Bank + 1 more (hover for full list)
KFin Technologies Limited
Not disclosed
Indo-MIM MAINBOARD
✅ LISTED 🔍 The company reported exceptional items of ₹780.36 million in FY26, ₹1,010.78 million in FY25, and ₹764.74 million in FY24, primarily due to…
2026-07-23 – 2026-07-27
₹461–485
+44.33%
75/100
₹3811 cr
30
₹14,550
₹188
INDOMIM
More details ▾
Rs 500 cr fresh · Rs 3,311 cr OFS (ofs derived from issue size)
92.94% → —
0%
HDFC Bank, Axis Capital, ICICI Securities + 2 more (hover for full list)
MUFG Intime India Private Limited
Not disclosed
Lohia Corp MAINBOARD
✅ LISTED 🔍 The statutory auditors issued a remark under Rule 11(g) stating that the company's third-party accounting software lacks an 'Independent Service…
2026-07-23 – 2026-07-27
₹404–425
+8.47%
80/100
₹1101 cr
35
₹14,875
₹28
LCL
More details ▾
Rs 0 cr fresh · Rs 1,101 cr OFS (ofs derived from issue size)
95.61% → —
0%
Equirus Capital, Motilal Oswal Investment Advisors
MUFG Intime India Private Limited
Not disclosed
Xtranet Technologies MAINBOARD
✅ LISTED 🔍 In FY26, the top 10 suppliers accounted for 95.24% of total purchases, up from 74.83% in FY25 and 71.72% in FY24.
2026-07-23 – 2026-07-27
₹120–127
+7.09%
68/100
₹167 cr
110
₹13,970
₹16
XTRANET
More details ▾
Rs 170 cr fresh · Rs 0 cr OFS
77.45% → —
0%
Share India Capital Services
KFin Technologies Limited
Not disclosed
Poojaa Precision Engg SME
✅ LISTED 2026-07-28 – 2026-07-30
₹285–301
+56.15%
—
₹160 cr
400
₹240,800
₹220
PPEL
Forensic read of the filing is in progress. Calendar and offer facts are live.
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—
Not disclosed
Not disclosed
—
—
Not disclosed
Manipal Health Enterprises MAINBOARD
✅ LISTED 🔍 The statutory auditors issued adverse remarks under Other Legal and Regulatory Requirements stating that the company and its subsidiaries used…
2026-07-29 – 2026-07-31
₹560–590
+10.51%
65/100
₹9275 cr
25
₹14,750
₹-5
MANIPALHOS
More details ▾
Rs 8,000 cr fresh · Rs 1,275 cr OFS (ofs derived from issue size)
81.43% → —
6.59%
Kotak Mahindra Capital Company, Axis Capital, Goldman Sachs (India) Securities + 4 more (hover for full list)
KFin Technologies Limited
Not disclosed
H.R.Hygiene Products SME
✅ LISTED 2026-07-29 – 2026-07-31
₹83–88
+2.27%
—
₹54 cr
1600
₹281,600
₹1
HRHYGIENE
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Dhaval Packaging SME
✅ LISTED 2026-07-30 – 2026-08-03
₹92–97
+13.4%
—
₹36 cr
1200
₹232,800
₹9
DHAVALPACK
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
MV Electrosystems MAINBOARD
✅ LISTED 🔍 The company reported a restated net loss of ₹126.29 million in FY26 (compared to a net profit of ₹14.03 million in FY25) along with negative cash…
2026-07-30 – 2026-08-03
₹400–425
+22.35%
58/100prov.
₹290 cr
34
₹14,450
₹109
MVELECTRO
More details ▾
Rs 290 cr fresh · Rs 0 cr OFS
67.99% → —
0%
Sundae Capital Advisors
KFin Technologies Limited
Not disclosed
Oneindig Technologies SME
✅ LISTED 2026-07-30 – 2026-08-03
₹91–96
+25%
—
₹28 cr
1200
₹230,400
₹0
ONEINDIG
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Juniper Green Energy MAINBOARD
✅ LISTED 🔍 Statutory auditors reported under Rule 11(g) that the accounting software used by the Holding Company and its subsidiaries lacked database-level edit…
2026-07-30 – 2026-08-03
₹214–225
+8.89%
60/100
₹1800 cr
66
₹14,850
₹5
JNPR
More details ▾
Rs 1,800 cr fresh · Rs 0 cr OFS
100% → —
1.46%
ICICI Securities, HSBC Securities and Capital Markets (India), JM Financial + 1 more (hover for full list)
KFin Technologies Limited
Not disclosed
G.V.Electricals SME
✅ LISTED 🔍 In FY26, the company reported a sharp doubling of PAT to Rs 10.47 Cr (up from Rs 4.66 Cr in FY25) and EBITDA margin expansion to 10.90% (up from…
2026-07-31 – 2026-08-07
₹123–130
+21.54%
68/100
₹42 cr
1000
₹260,000
₹15
GVELECTRIC
More details ▾
—
84.97% → —
0%
Seren Capital
Mudra RTA Ventures Private Limited
Not disclosed
✅ LISTED
🔍 In FY26, EBITDA margin jumped to 56.38% and PAT reached Rs 7.60 Cr (up from 22.16% and Rs 0.34 Cr in FY24). This steep profit surge is accompanied by…
2026-07-31 – 2026-08-04
₹151–159
+6.92%
74/100
₹39 cr
800
₹254,400
₹5
KLASSROOM
More details ▾
—
54.73% → —
0%
Narnolia Financial Services
Maashitla Securities Private Limited
Not disclosed
✅ LISTED
🔍 In FY26, the company reported a tripling of PAT to Rs 36.63 Cr (up from Rs 12.31 Cr in FY25 and Rs 4.39 Cr in FY24), with PAT margins expanding to…
2026-08-03 – 2026-08-05
₹257–270
+22.09%
59/100prov.
₹178 cr
400
₹216,000
₹75
ANAWIL
More details ▾
—
89.35% → 65.26%
0%
Hem Securities
Bigshare Services Private Limited
Not disclosed
✅ LISTED
🔍 In FY26, the company reported a nearly 3x increase in PAT to Rs 4.02 Cr (up from Rs 1.39 Cr in FY25 and Rs 0.93 Cr in FY24) and PAT margin expansion…
2026-08-04 – 2026-08-06
₹100–105
+18.57%
65/100prov.
₹24 cr
1200
₹252,000
₹0
AEGEUS
More details ▾
Rs 24.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
64.75% → 47.29%
0%
Turnaround Corporate Advisors
Skyline Financial Services Private Limited
Not disclosed
Ardee Industries MAINBOARD
✅ LISTED 🔍 Top customer Amara Raja Energy & Mobility Limited generated 40.64% of FY26 revenue from operations (₹4,745.56 million), down from 51.22% in FY25 and…
2026-08-05 – 2026-08-07
₹50–53
+35.85%
74/100
₹426 cr
281
₹14,893
₹12
ARDEE
More details ▾
Rs 320 cr fresh · Rs 106 cr OFS (ofs derived from issue size)
91.16% → —
0%
Pantomath Capital Advisors
KFin Technologies Limited
Not disclosed
LAPL Automotive SME
✅ LISTED 🔍 In FY26, reported PAT grew 71% to Rs 8.63 Cr (up from Rs 5.03 Cr in FY25 and Rs 2.17 Cr in FY24) while EBITDA margin expanded to 16.75% (from 8.81%…
2026-08-06 – 2026-08-10
₹88–94
+43.62%
70/100
₹32 cr
1200
₹225,600
₹35
LAPL
More details ▾
Rs 32.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
86.41% → —
0%
GYR Capital Advisors
Maashitla Securities Private Limited
Not disclosed
Leap India MAINBOARD
✅ LISTED 🔍 Statutory auditors reported that the audit trail (edit log) feature was not enabled at the database level for accounting software in FY24, FY25, and…
2026-08-07 – 2026-08-11
₹151–159
+4.34%
71/100prov.
₹2480 cr
94
₹14,946
₹15
LEAP
More details ▾
Rs 480 cr fresh · Rs 2,000 cr OFS
95.73% → —
0%
JM Financial, Avendus Capital, IIFL Capital Services + 1 more (hover for full list)
MUFG Intime India Private Limited
Not disclosed
✅ LISTED
🔍 Optimystix reported revenue growth to Rs 134.99 Cr in FY26 (up from Rs 54.76 Cr in FY24) alongside PAT margin expansion to 17.81% (up from 12.13% in…
2026-08-07 – 2026-08-11
₹166–175
+2.86%
64/100
₹109 cr
800
₹280,000
₹0
OPTIMYSTIX
More details ▾
—
77.61% → —
0%
LSI Financial Services Private, Nexgen Financial Solutions
Maashitla Securities Private Limited
Not disclosed
Technocraft Ventures MAINBOARD
✅ LISTED 🔍 The company's top 10 customers accounted for 95.68% of total operating revenue in FY26, 97.60% in FY25, and 99.55% in FY24. These clients are…
2026-08-07 – 2026-08-11
₹200–212
+33.96%
73/100
₹252 cr
70
₹14,840
₹13
TECHNOCRAF
More details ▾
—
97.38% → —
0%
Khambatta Securities
Bigshare Services Private Limited
Not disclosed
Molbio Diagnostics MAINBOARD
✅ LISTED 🔍 Statutory auditors reported that the audit trail (edit log) feature in core accounting software was not enabled at the database level or for certain…
2026-08-10 – 2026-08-12
₹768–807
+21.44%
63/100
₹940 cr
18
₹14,526
₹110
MOLBIO
More details ▾
Rs 200 cr fresh · Rs 740 cr OFS (ofs derived from issue size)
46.65% → —
0%
Kotak Mahindra Capital Company, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), Jefferies India + 1 more (hover for full list)
KFin Technologies Limited
Not disclosed
Dhoot Transmission MAINBOARD
✅ LISTED 🔍 Statutory auditors reported that the audit trail (edit log) feature in the core accounting software did not operate throughout the year, some…
2026-08-10 – 2026-08-12
₹829–871
+37.77%
73/100
₹3067 cr
17
₹14,807
₹255
DHOOTTRANS
More details ▾
Rs 1,400 cr fresh · Rs 1,667 cr OFS (ofs derived from issue size)
84.87% → —
0%
Axis Capital, Jefferies India, Kotak Mahindra Capital Company + 3 more (hover for full list)
Kfin Technologies Limited
Not disclosed
Milky Mist Dairy Food MAINBOARD
✅ LISTED 🔍 The company has consistently filed quarterly current asset/inventory statements with consortium lending banks that do not match the audited books of…
2026-08-11 – 2026-08-13
₹133–140
+17.86%
71/100
₹1553 cr
107
₹14,980
₹26
MILKYMIST
More details ▾
Rs 1,428 cr fresh · Rs 125 cr OFS
88.86% → —
0%
JM Financial, Axis Capital, IIFL Capital Services
KFin Technologies Limited
Not disclosed
✅ LISTED
🔍 The company reported massive PAT growth to Rs 15.10 Cr in FY26 (up from Rs 5.81 Cr in FY25 and Rs 0.48 Cr in FY24) alongside revenue expanding to Rs…
2026-08-11 – 2026-08-19
₹142–151
-20%
66/100prov.
₹65 cr
800
₹241,600
₹0
FASCINATE
More details ▾
—
78.64% → —
0%
Affinity Global Capital Market
Cameo Corporate Services Limited
Not disclosed
Sham Foam SME
✅ LISTED 🔍 Charming Fashions Private Limited (promoter group) was allotted 82,500 equity shares on 2024-03-15 at a preferential price of Rs 510.00 per share…
2026-08-11 – 2026-08-13
₹130–130
-20%
83/100
₹40 cr
1000
₹260,000
—
SHAMFOAM
More details ▾
Rs 40.48 cr fresh · Rs 0 cr OFS
100% → 72.9%
0%
Corporate Makers Capital, Navigant Corporate Advisors
Alankit Assignments Limited
Not disclosed
Shiprocket MAINBOARD
✅ LISTED 🔍 Statutory auditors reported that the audit trail (edit log) feature in accounting software was not enabled at the database level for direct changes…
2026-08-12 – 2026-08-14
₹92–97
+35.05%
72/100prov.
₹1617 cr
154
₹14,938
₹35
SHIPROCKET
More details ▾
Rs 886 cr fresh · Rs 732 cr OFS
Not disclosed
Not disclosed
Axis Capital, BofA Securities India, JM Financial + 1 more (hover for full list)
KFin Technologies Limited
Not disclosed
Q &T Foods SME
✅ LISTED 🔍 S N Capital Management and other pre-IPO investors were allotted 1,74,000 equity shares on 2024-10-09 and 24,000 shares on 2024-11-05 at a…
2026-08-12 – 2026-08-14
₹115–115
0%
73/100
₹26 cr
1200
₹276,000
₹5
QTFOODS
More details ▾
Rs 26.25 cr fresh · Rs 0 cr OFS
89.45% → 60.61%
0%
Corporate Makers Capital
Skyline Financial Services Private Limited
Not disclosed
Behari Lal Engineering MAINBOARD
✅ LISTED 🔍 The company does not have documentary evidence for the educational qualifications of two of its Promoters who are also Directors: Parkash Chand Garg…
2026-08-12 – 2026-08-14
₹271–285
+63.16%
79/100
₹302 cr
52
₹14,820
₹75
BLEL
More details ▾
Rs 93.00 cr fresh · Rs 209 cr OFS (ofs derived from issue size)
47.39% → —
0%
Emkay Global Financial Services, Systematix Corporate Services
MUFG Intime India Private Limited
Not disclosed
✅ LISTED
🔍 The statutory auditor disclosed that underlying sanction letters/loan agreements for certain borrowings were not readily available at the reporting…
2026-08-12 – 2026-08-14
₹110–118
+1.69%
64/100
₹69 cr
1200
₹283,200
₹0
PRAMODINI
More details ▾
—
85.71% → —
0%
Smart Horizon Capital Advisors
Purva Sharegistry (India) Private Limited
Not disclosed
✅ LISTED
🔍 In FY26, the company reported an explosive jump in consolidated revenue to Rs 214.16 Cr (up from standalone Rs 77.94 Cr in FY25) and consolidated net…
2026-08-13 – 2026-08-17
₹179–189
+90%
63/100prov.
₹94 cr
600
₹226,800
₹65
CREDENT
More details ▾
Rs 94.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
87.52% → 63.67%
0%
Hem Securities
KFin Technologies Limited
Not disclosed
✅ LISTED
🔍 The company's standalone revenues grew over 20-fold from ₹6.06 Cr in FY24 to ₹131.31 Cr in FY26, with reported PAT climbing to ₹14.94 Cr. However…
2026-08-14 – 2026-08-18
₹125–132
+74.24%
70/100
₹61 cr
1000
₹264,000
₹22
TECHNOCRAT
More details ▾
Rs 61.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
86.96% → —
0%
RarEver Financial Advisors
Maashitla Securities Private Limited
Not disclosed
✅ LISTED
🔍 The company's restated financial profile shows moderate revenue growth from ₹44.13 Cr in FY24 to ₹51.65 Cr in FY26, alongside a steep expansion in…
2026-08-14 – 2026-08-18
₹73–77
-3.9%
68/100prov.
₹23 cr
1600
₹246,400
—
SKYTECH
More details ▾
Rs 23.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
100% → 70.01%
0%
Finshore Management Services
Integrated Registry Management Services Private Limited
Not disclosed
ENS Enterprises SME
✅ LISTED 🔍 The company's standalone revenue and profitability grew exponentially right before the IPO. Revenue was ₹10.11 Cr in FY24, ₹28.33 Cr in FY25, and…
2026-08-14 – 2026-08-18
₹87–92
+4.35%
65/100
₹33 cr
1200
₹220,800
₹0
ENS
More details ▾
Rs 33.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
74.91% → —
0%
Corporate Makers Capital
Abhipra Capital Limited
Not disclosed
Horizon Industrial Parks MAINBOARD
✅ LISTED 🔍 In subsidiary Everstrat Zenith Private Limited, the statutory auditors reported under CARO 2020 Clause (ix)(d) that short-term funds in the form of…
2026-08-17 – 2026-08-19
₹57–60
+0.42%
77/100prov.
₹2600 cr
250
₹15,000
—
HORIZONIND
More details ▾
Rs 2,600 cr fresh · Rs 0 cr OFS
88.74% → —
0%
JM Financial, Axis Capital, IIFL Capital Services + 2 more (hover for full list)
KFin Technologies Limited
Not disclosed
Lalithaa Jewellery Mart MAINBOARD
✅ LISTED 🔍 Promoter Moolchand Kiran Kumar Jain was paid ₹50.276 crore as brand ambassador fees in Fiscal 2024. This payment was in addition to standard director…
2026-08-17 – 2026-08-19
₹190–201
+31.84%
64/100
₹1700 cr
74
₹14,874
—
LALITHAA
More details ▾
Rs 1,200 cr fresh · Rs 500 cr OFS
97.72% → —
0%
Anand Rathi Advisors, Equirus Capital
MUFG Intime India Private Limited
Not disclosed
Sunshine Pictures MAINBOARD
✅ LISTED 🔍 Sunil Karda, the Company's former statutory auditor, resigned from his audit role on August 14, 2024, due to 'pre-occupation' and was immediately…
2026-08-18 – 2026-08-20
₹342–360
+9.97%
69/100
₹282 cr
41
₹14,760
₹50
SUNSHINE
More details ▾
—
99.99% → —
0%
GYR Capital Advisors
Bigshare Services Private Limited
Not disclosed
Shankesh Jewellers MAINBOARD
✅ LISTED 🔍 The quarterly current assets statements submitted by the company to HDFC Bank and Kotak Mahindra Bank u/s working capital limits of excess of ₹5.00…
2026-08-18 – 2026-08-20
₹88–93
+11.08%
76/100
₹367 cr
160
₹14,880
₹4
SHANKESH
More details ▾
Rs 274 cr fresh · Rs 93.00 cr OFS
74.25% → —
0%
Aryaman Financial Services, Smart Horizon Capital Advisors
KFIN Technologies Limited
Not disclosed
Dhanwel Hybrid Seeds SME
✅ LISTED 2026-08-19 – 2026-08-21
₹95–99
0%
—
₹27 cr
1200
₹237,600
—
DHANWEL
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Tempsens Instruments (India) MAINBOARD
✅ LISTED 🔍 Theia New Consultancy LLP filed a commercial arbitration application against subsidiary Tempsens Measurement and Control Private Limited before the…
2026-08-20 – 2026-08-24
₹285–300
+111.33%
68/100prov.
₹650 cr
50
₹15,000
—
TEMPSENS
More details ▾
Rs 95.00 cr fresh · Rs 555 cr OFS (ofs derived from issue size)
46.13% → —
0%
ICICI Securities, JM Financial
KFin Technologies Limited
Not disclosed
Augmont Enterprises MAINBOARD
✅ LISTED 🔍 In Fiscal 2026, Augmont recorded purchases of ₹5,953.58 crore and sales of ₹25,826.31 crore with its promoter group company Riddisiddhi Bullions…
2026-08-21 – 2026-08-25
₹750–788
+21.95%
71/100prov.
₹825 cr
19
₹14,972
—
AUGMONT
More details ▾
Rs 620 cr fresh · Rs 205 cr OFS
92.75% → —
0%
Nuvama Wealth Management, Intensive Fiscal Services, JM Financial + 1 more (hover for full list)
MUFG Intime India Private Limited (Formerly Link Intime India Private Limited)
Not disclosed
✅ LISTED
🔍 The company's standalone profitability surged right before the IPO, with PAT expanding over 6-fold from ₹1.70 Cr in FY24 to ₹11.03 Cr in FY25, and…
2026-08-24 – 2026-08-27
₹95–100
0%
56/100
₹53 cr
1200
₹240,000
—
MADHURKNIT
More details ▾
Rs 53.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
69.82% → —
0%
SKI Capital Services
Skyline Financial Services Private Limited
Not disclosed
ABH Healthcare SME
✅ LISTED 🔍 The company's reported consolidated PAT increased from Standalone ₹1.66 Cr in FY24 to Consolidated ₹5.35 Cr in FY25 and ₹5.64 Cr in FY26. However…
2026-08-24 – 2026-08-27
₹96–102
-2.94%
71/100
₹35 cr
1200
₹244,800
—
ABH
More details ▾
Rs 35.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
100% → —
0%
Fedex Securities
Bigshare Services Private Limited
Not disclosed
✅ LISTED
🔍 The company has significant financial and operational dependencies on its promoters and group entities. In FY26, relative Sumer Chand Mehta was paid…
2026-08-25 – 2026-08-28
₹95–101
+9.9%
74/100prov.
₹53 cr
1200
₹242,400
—
SUMAX
More details ▾
—
96.73% → 69.67%
0%
GYR Capital Advisors
KFin Technologies Limited
Not disclosed
Lumino Industries MAINBOARD
✅ LISTED 2026-08-27 – 2026-08-31
₹78–82
+34.15%
—
₹700 cr
182
₹14,924
₹40
LUMINO
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Kwick Forensic Solutions SME
✅ LISTED 2026-08-27 – 2026-08-31
₹85–90
+66.67%
—
₹51 cr
1600
₹288,000
₹70
KWICK
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Paluck Technologies SME
✅ LISTED 2026-08-28 – 2026-09-01
₹46–48
-2.5%
—
₹33 cr
3000
₹288,000
₹25
PALUCK
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Complete Sports and Management India SME
✅ LISTED 2026-08-28 – 2026-09-01
₹128–135
+2.96%
—
₹75 cr
1000
₹270,000
₹0
CSML
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
—
Not disclosed
Priority Jewels MAINBOARD
✅ LISTED 🔍 The company has significant unsecured, interest-free loans payable on demand from its promoter Shailesh Sangani, standing at ₹18.01 crore as of March…
2026-08-28 – 2026-09-01
₹190–200
+15%
65/100
₹92 cr
75
₹15,000
₹45
PRIORITY
More details ▾
Rs 92.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
93.85% → —
0%
Mefcom Capital Markets
MUFG Intime India Private Limited
Not disclosed
ESDS Software Solution MAINBOARD
✅ LISTED 🔍 Spochub Solutions Private Limited (subsidiary of ESDS) secured a massive GPUaaS contract with an enterprise customer incorporated outside India (a…
2026-08-28 – 2026-09-01
₹408–429
+76.46%
71/100prov.
₹720 cr
34
₹14,586
₹250
ESDS
More details ▾
Rs 720 cr fresh · Rs 0 cr OFS
45.86% → —
0%
DAM Capital Advisors, Systematix Corporate Services
MUFG Intime India Private Limited
Not disclosed
Phychem Technologies SME
✅ LISTED 2026-08-31 – 2026-09-02
₹51–54
+3.7%
—
₹15 cr
2000
₹216,000
₹1
PHYCHEM
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
MUFG INTIME INDIA PRIVATE LIMITED
Not disclosed
Purple Style Labs MAINBOARD
✅ LISTED 🔍 The company incurred restated consolidated losses of ₹285.40 crore in FY26, ₹188.38 crore in FY25, and ₹47.71 crore in FY24. These losses were…
2026-08-31 – 2026-09-02
₹546–575
-6.96%
37/100
₹680 cr
26
₹14,950
₹4
PERNIASPOP
More details ▾
Rs 680 cr fresh · Rs 0 cr OFS
28.26% → —
0%
Axis Capital, IIFL Capital Services
Kfin Technologies Limited
Not disclosed
Shanti Inorganics SME
✅ LISTED 2026-08-31 – 2026-09-02
₹79–83
+90%
—
₹47 cr
1600
₹265,600
₹22
SHANTIINOR
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
KFin Technologies Limited
Not disclosed
Ashutosh Fibre SME
✅ LISTED 2026-08-31 – 2026-09-02
₹87–92
+52.17%
—
₹56 cr
1200
₹220,800
₹37
ASHUTOSH
Forensic read of the filing is in progress. Calendar and offer facts are live.
✅ LISTED
🔍 The company has experienced high auditor turnover within the pre-IPO period: BDMV & Co. resigned on September 06, 2023, and their successor, Dixit…
2026-09-01 – 2026-09-03
₹102–102
-20%
61/100prov.
₹53 cr
1200
₹244,800
₹18
FLYHI
More details ▾
—
80% → —
0%
Corporate Makers Capital
KFIN TECHNOLOGIES LIMITED
Not disclosed
Farm Peace SME
✅ LISTED 🔍 The company's trade receivables increased from ₹17.18 crore in FY24 to ₹59.95 crore in FY26, representing 66% of FY26 revenue, while Cash Flow from…
2026-09-01 – 2026-09-03
₹59–59
+90%
66/100prov.
₹32 cr
2000
₹236,000
₹0
FARMPEACE
More details ▾
Rs 32.00 cr fresh · Rs 0 cr OFS
73.96% → 54.46%
0%
Socradamus Capital
Bigshare Services Private Limited
Not disclosed
Deepa Jewellers MAINBOARD
✅ LISTED 🔍 The company has availed unsecured loans from its promoters. As of July 31, 2026, these borrowings aggregated to ₹44.43 crore (₹444.28 million)…
2026-09-01 – 2026-09-03
₹168–177
+24.86%
77/100
₹460 cr
84
₹14,868
₹44
DEEPA
More details ▾
Rs 250 cr fresh · Rs 210 cr OFS (ofs derived from issue size)
99.98% → —
0%
Emkay Global Financial Services, Valmiki Leela Capital
Bigshare Services Private Limited
Not disclosed
Rays of Belief MAINBOARD
✅ LISTED 🔍 Rays of Belief Limited generated 25.56% of its Fiscal 2026 consolidated revenue from operations (₹20.87 crore out of ₹81.66 crore) through export of…
2026-09-01 – 2026-09-03
₹227–239
0%
65/100prov.
₹125 cr
62
₹14,818
₹36
MOMSBELIEF
More details ▾
Rs 125 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
91.72% → —
0%
Mefcom Capital Markets
KFIN TECHNOLOGIES LIMITED
Not disclosed
✅ LISTED
🔍 In the pre-IPO year (FY26), the company's restated PAT margin expanded significantly to 15.44% (up from 9.23% in FY25 and 7.63% in FY24). This sharp…
2026-09-04 – 2026-09-08
₹120–127
+77.09%
82/100
₹45 cr
1000
₹254,000
₹50
QUALIANCE
More details ▾
Rs 45.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
86.49% → 63.66%
0%
Hem Securities
MUFG INTIME INDIA PRIVATE LIMITED
Not disclosed
Apana Logistics SME
✅ LISTED 🔍 In FY26 (the pre-IPO year), revenue from operations jumped 43.93% and PAT surged 88.78%, while Cash Flow from Operations (CFO) declined by 25.96%…
2026-09-07 – 2026-09-09
₹60–60
0%
63/100
₹34 cr
2000
₹240,000
₹0
APANA
More details ▾
Rs 34.14 cr fresh · Rs 0 cr OFS
100% → 67.5%
0%
CORPORATE MAKERS CAPITAL
KFIN TECHNOLOGIES LIMITED
Not disclosed
Pranav Constructions MAINBOARD
✅ LISTED 🔍 Promoter Pranav Kiran Ashar is in an estranged matrimonial relationship with his spouse Vaisshali Pranav Ashar. Because of this dispute, the Company…
2026-09-07 – 2026-09-09
₹118–124
+33.06%
48/100
₹351 cr
120
₹14,880
₹43
PRANAV
More details ▾
Rs 316 cr fresh · Rs 35.40 cr OFS (ofs derived from issue size)
63.35% → —
0%
Centrum Broking, PNB Investment Services
KFin Technologies Limited
Not disclosed
Glass Wall Systems (India) MAINBOARD
✅ LISTED 🔍 GWS derives 100% of its USA export revenue (₹182.973 Crore in FY26, representing 40.04% of total operations) from a single partner group, Reflection…
2026-09-08 – 2026-09-10
₹172–182
+6.59%
53/100
₹428 cr
82
₹14,924
₹50
GLASSWALL
More details ▾
Rs 60.00 cr fresh · Rs 368 cr OFS (ofs derived from issue size)
64.38% → —
0%
IIFL Capital Services, Motilal Oswal Investment Advisors
MUFG Intime India Private Limited
Not disclosed
Kanohar Electricals MAINBOARD
✅ LISTED 🔍 Bihar State Power Transmission Company Limited (BSPTCL) issued an order dated February 23, 2026 debarring Kanohar (in joint venture with Aquarian…
2026-09-08 – 2026-09-10
₹601–632
+8.47%
52/100
₹1056 cr
23
₹14,536
₹240
KANOHAR
More details ▾
Rs 300 cr fresh · Rs 756 cr OFS (ofs derived from issue size)
97% → —
0%
Nuvama Wealth Management, IIFL Capital Services
MUFG Intime India Private Limited
Not disclosed
Prasol Chemicals MAINBOARD
✅ LISTED 🔍 Prasol has recorded ₹ 2.92 crore of IPO-related expenses under 'Other Current Assets' instead of expensing it. It intends to charge it directly to…
2026-09-08 – 2026-09-10
₹643–676
-9.76%
55/100
₹500 cr
22
₹14,872
₹-15
PRASOLCHEM
More details ▾
Rs 80.00 cr fresh · Rs 420 cr OFS
89.2% → —
0%
DAM Capital Advisors
KFin Technologies Limited
Not disclosed
Vinod Texworld SME
✅ LISTED 🔍 On December 9, 2025, the Income Tax Department conducted a search and seizure proceeding (raid) at the office premises of Vinod Texworld Limited…
2026-09-09 – 2026-09-11
₹94–94
0%
62/100
₹43 cr
1200
₹225,600
₹1
VINOD
More details ▾
Rs 42.83 cr fresh · Rs 0 cr OFS
93.1% → 66.85%
0%
Novus Capital Advisors
KFIN TECHNOLOGIES LIMITED
Not disclosed
Karamtara Engineering MAINBOARD
✅ LISTED 🔍 Total borrowings expanded 85.18% in FY26 to ₹ 1,030.13 Crore (from ₹ 556.28 Crore in FY25) alongside capex of ₹ 925.66 Crore in FY26 to fund new…
2026-09-09 – 2026-09-11
₹241–254
+25.98%
73/100
₹875 cr
59
₹14,986
₹65
KARAMTARA
More details ▾
Rs 1,350 cr fresh · Rs 0 cr OFS (ofs derived from issue size)
82.45% → —
0%
JM Financial, ICICI Securities, IIFL Capital Services
MUFG Intime India Private Limited
Not disclosed
Manipal Payment & Identity Solutions MAINBOARD
✅ LISTED 2026-09-09 – 2026-09-11
₹322–339
-2.65%
—
₹805 cr
44
₹14,916
₹-2
MPIMANIPAL
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
MUFG Intime India Private Limited
Not disclosed
Rentomojo MAINBOARD
✅ LISTED 🔍 Promoter Geetansh Bamania holds only 14.69% of the pre-Offer paid-up equity capital, which will further dilute post-IPO, while selling 3,680,102…
2026-09-09 – 2026-09-11
₹384–404
+19.42%
77/100
₹1256 cr
37
₹14,948
₹160
RENTOMOJO
More details ▾
Rs 150 cr fresh · Rs 1,106 cr OFS (ofs derived from issue size)
14.69% → —
0%
Motilal Oswal Investment Advisors, Axis Capital, IIFL Capital Services Limited (formerly known as IIFL Securities Limited)
KFin Technologies Limited
Not disclosed
✅ LISTED
🔍 In FY26 (the pre-IPO year), revenue from operations jumped 205.94% (from Rs. 30.47 crore to Rs. 93.21 crore) and restated PAT surged 257.72% (from…
2026-09-09 – 2026-09-11
₹104–104
0%
59/100
₹41 cr
1200
₹249,600
₹0
INFRAX
More details ▾
—
67.73% → —
0%
Smart Horizon Capital Advisors
Bigshare Services Private Limited
Not disclosed
Amtech Esters SME
✅ LISTED 🔍 On February 19, 2026, the company allotted 32,22,584 bonus shares at Rs. 0.0 to Ajit Singh Bawa & Others (Promoter Group), expanding the share…
2026-09-09 – 2026-09-11
₹71–75
+33.33%
69/100
₹18 cr
1600
₹240,000
₹7
AMTECH
More details ▾
Rs 18.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
49.69% → 36.27%
0%
Credora Partners
Maashitla Securities Pvt.Ltd.
Not disclosed
Steamhouse India MAINBOARD
✅ LISTED 2026-09-09 – 2026-09-11
₹77–81
+16.67%
—
₹414 cr
185
₹14,985
₹22
STEAMHOUSE
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
KFin Technologies Limited
Not disclosed
Asset Reconstruction Co.(India) MAINBOARD
✅ LISTED 🔍 The company faces show cause notices from DGCEI and Service Tax Commissionerate demanding ₹ 56.10 Crore (₹ 561.03 million) in service tax on…
2026-09-09 – 2026-09-11
₹132–139
23.31x
55/100
₹733 cr
107
₹14,873
₹15
ARCIL
More details ▾
—
89.68% → —
0%
IIFL Capital Services Limited (formerly known as IIFL Securities Limited), IDBI Capital Markets & Securities, JM Financial
MUFG Intime India Private Limited
Not disclosed
LCC Projects Limited MAINBOARD
✅ LISTED 2026-09-09 – 2026-09-11
₹139–146
+29.45%
—
₹427 cr
102
₹14,892
₹63
LCCPROJECT
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
KFin Technologies Limited
Not disclosed
Panchatv Bharat SME
✅ LISTED 🔍 In FY26 (pre-IPO year), reported PAT grew 42.53% to Rs. 4.0310 crore on revenue of Rs. 56.8511 crore. However, Cash Flow from Operations (CFO)…
2026-09-10 – 2026-09-15
₹140–140
-7.89%
47/100
₹25 cr
1000
₹280,000
₹12
PANCHATV
More details ▾
Rs 24.58 cr fresh · Rs 0.42 cr OFS (ofs derived from issue size)
92.91% → 65.02%
0%
Mark Corporate Advisors
Maashitla Securities Private Limited
Not disclosed
✅ LISTED
🔍 In FY26 (pre-IPO year), restated PAT surged by 175.66% to Rs. 15.3419 crore (from Rs. 5.5655 crore in FY25), but Cash Flow from Operations (CFO) was…
2026-09-10 – 2026-09-15
₹177–186
+34.41%
49/100
₹80 cr
600
₹223,200
₹30
SPEEDEX
More details ▾
—
72.68% → —
0%
Choice Capital Advisors
Maashitla Securities Private Limited
Not disclosed
✅ LISTED
🔍 The company purchased Rs. 44.7038 Crore of raw materials (transformer tanks/bodies) from group company SHR Powers Private Limited in FY26…
2026-09-10 – 2026-09-15
₹258–273
0%
59/100
₹150 cr
400
₹218,400
₹30
RAKSAN
More details ▾
—
94.22% → 69.06%
0%
Hem Securities
BIGSHARE SERVICES PRIVATE LIMITED
Not disclosed
Veegaland Developers MAINBOARD
✅ LISTED 🔍 The company reported negative cash flow from operating activities of ₹ -74.26 Crore (₹ -7,425.95 lakh) in FY26 and ₹ -44.00 Crore (₹ -4,399.56 lakh)…
2026-09-10 – 2026-09-15
₹130–140
+10%
62/100
₹210 cr
107
₹14,980
₹23
VEEGALAND
More details ▾
Rs 210 cr fresh · Rs 0 cr OFS (ofs derived from issue size)
92% → —
0%
Cumulative Capital
MUFG Intime India Private Limited
Not disclosed
✅ LISTED
🔍 On December 18, 2025 (9 months prior to the IPO), the company issued 18,509,020 bonus shares at Rs. 0.00 to existing promoter shareholders, following…
2026-09-10 – 2026-09-15
₹85–90
+0.22%
74/100
₹105 cr
1600
₹288,000
₹0
OMGL
More details ▾
—
100% → —
0%
Indorient Financial Services
BIGSHARE SERVICES PRIVATE LIMITED
Not disclosed
Manika Plastech MAINBOARD
✅ LISTED 🔍 Top 5 suppliers account for 78.29% of raw material polymer purchases in Fiscal 2026 (Polypropylene Co-Polymer resin), exposing manufacturing…
2026-09-11 – 2026-09-16
₹40–43
0%
78/100
₹125 cr
348
₹14,964
₹11
MANIKA
More details ▾
Rs 92.50 cr fresh · Rs 32.50 cr OFS (ofs derived from issue size)
99.25% → —
0%
Pantomath Capital Advisors
MUFG Intime India Private Limited
Not disclosed
✅ LISTED
🔍 On March 23, 2025 (18 months prior to the IPO), the company allotted 5,643,120 bonus shares in a 10:1 ratio to existing promoter group shareholders…
2026-09-11 – 2026-09-16
₹70–74
0%
71/100
₹17 cr
1600
₹236,800
₹5
CENTURYOOH
More details ▾
—
94.93% → 69.88%
0%
Hem Securities
KFin Technologies Limited
Not disclosed
Injecto Polymers SME
✅ LISTED 🔍 In FY26, restated PAT surged 97.46% to Rs. 16.0128 crore (from Rs. 8.1093 crore in FY25 and Rs. 4.4436 crore in FY24). However, Cash Flow from…
2026-09-11 – 2026-09-16
₹98–100
-1%
52/100
₹56 cr
1200
₹360,000
₹0
INJECTO
More details ▾
—
73.97% → 54%
0%
Indcap Advisors
Integrated Registry Management Services Private Limited
Not disclosed
SS Retail MAINBOARD
✅ LISTED 🔍 M/s Amit Shah & Co., Chartered Accountants, resigned as statutory auditor on March 13, 2025 citing pre-occupation, prior to the company converting to…
2026-09-16 – 2026-09-18
₹403–424
+47.17%
56/100
₹500 cr
35
₹14,840
₹130
SSRETAIL
More details ▾
Rs 360 cr fresh · Rs 140 cr OFS
75.74% → —
0%
Anand Rathi Advisors, Emkay Global Financial Services
KFin Technologies Limited
Not disclosed
Jindal Supreme (India) MAINBOARD
✅ LISTED 🔍 Cash flow from operations turned negative at -₹ 5.69 crore in FY26 despite reporting a net profit of ₹ 22.53 crore, due to working capital absorption…
2026-09-16 – 2026-09-18
₹88–93
+29.03%
54/100
₹125 cr
161
₹14,973
₹25
JSIPL
More details ▾
—
82.03% → 64.76%
0%
Sarthi Capital Advisors
Bigshare Services Private Limited
Not disclosed
Hero Motors MAINBOARD
✅ LISTED 🔍 Subsidiary HYM Drive Systems Private Limited (90% held by Company, 10% by Yamaha Motor Co.) triggered withdrawal provisions under its Shareholders'…
2026-09-16 – 2026-09-18
₹79–84
-2.38%
62/100
₹1000 cr
178
₹14,952
₹23
HEROMOTORS
More details ▾
Rs 600 cr fresh · Rs 400 cr OFS
73.46% → —
0%
ICICI Securities, DAM Capital Advisors, JM Financial
KFin Technologies Limited
Not disclosed
National Stock Exchange of India MAINBOARD
✅ LISTED 🔍 The entire IPO of 126,436,650 equity shares is a 100% Offer for Sale by existing shareholders, with no fresh issue proceeds going to the company. NSE…
2026-09-17 – 2026-09-21
₹1700–1785
6.62x
76/100
₹22561 cr
8
₹14,280
₹208
NSE
More details ▾
—
0% → 0%
0%
Kotak Mahindra Capital Company, JM Financial, Morgan Stanley India Company + 17 more (hover for full list)
MUFG Intime India Private Limited
Not disclosed
Varmora Granito MAINBOARD
✅ LISTED 🔍 All eight manufacturing facilities (aggregate installed capacity of 43.80 million sq. meters) and 304 contract manufacturers are concentrated in…
2026-09-22 – 2026-09-24
₹140–148
+4.73%
63/100
₹708 cr
101
₹14,948
₹0
VARMORA
More details ▾
Rs 320 cr fresh · Rs 388 cr OFS (ofs derived from issue size)
25.38% → —
0%
JM Financial, Goldman Sachs (India) Securities, SBI Capital Markets
KFin Technologies Limited
Not disclosed
Pooja Logistics SME
✅ LISTED 2026-09-23 – 2026-09-25
₹109–115
+2.61%
—
₹44 cr
1200
₹276,000
—
POOJALOGIS
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
MAASHITLA SECURITIES PRIVATE LIMITED
Not disclosed
Elevate Campuses MAINBOARD
✅ LISTED 🔍 The company proposes to allocate ₹ 1,100.00 crore (52.38% of gross IPO proceeds) to acquire 14 K-12 Entities and Campuses from K-12 HoldCos, which…
2026-09-23 – 2026-09-25
₹343–362
-1.91%
62/100
₹2100 cr
41
₹14,842
₹9
ELEVATE
More details ▾
Rs 2,100 cr fresh · Rs 0 cr OFS (ofs derived from issue size)
100% → —
0%
JM Financial, IIFL Capital Services, Morgan Stanley India Company
KFin Technologies Limited
Not disclosed
Swastika Infra MAINBOARD
✅ LISTED 🔍 State electricity distribution companies (DISCOMs) generated 96.87% of consolidated revenue from operations in Fiscal 2026, with top 5 ongoing…
2026-09-23 – 2026-09-25
₹175–185
+8.11%
55/100
₹161 cr
81
₹14,985
₹4
SWASTIKAIN
More details ▾
Rs 129 cr fresh · Rs 32.00 cr OFS (ofs derived from issue size)
76.51% → —
0%
Srujan Alpha Capital Advisors LLP, PhillipCapital (India)
MUFG INTIME INDIA PRIVATE LIMITED
Not disclosed
ArMee Infotech MAINBOARD
✅ LISTED 🔍 Three customers accounted for 67.54% of consolidated FY26 revenue from operations (and 79.48% in FY24), with 83.84% of total revenue derived from…
2026-09-23 – 2026-09-25
₹350–375
0%
56/100
₹300 cr
40
₹15,000
₹5
ARMEE
More details ▾
Rs 300 cr fresh · Rs 0 cr OFS (ofs derived from issue size)
92.72% → —
0%
Khandwala Securities, Saffron Capital Advisors
Cameo Corporate Services Limited
Not disclosed
Adroit Industries (India) MAINBOARD
✅ LISTED 2026-09-23 – 2026-09-25
₹126–134
+75.37%
—
₹151 cr
111
₹14,874
₹50
ADROITIND
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
Bigshare Services Private Limited
Not disclosed
Moneyview MAINBOARD
✅ LISTED 🔍 In August 2025 (FY26), subsidiary Whizdm Finance Private Limited (WFPL) suffered a cyber incident where external threat actors exploited API…
2026-09-24 – 2026-09-28
₹32–34
+61.76%
54/100
₹1092 cr
441
₹14,994
₹13
MONEYVIEW
More details ▾
Rs 750 cr fresh · Rs 342 cr OFS (ofs derived from issue size)
19.55% → —
0%
Axis Capital, BofA Securities India, IIFL Capital Services + 1 more (hover for full list)
MUFG Intime India Private Limited
Not disclosed
Peshwa Wheat SME
✅ LISTED 🔍 On July 23, 2024 (14 months prior to the IPO), the company issued 6,864,498 bonus shares in a 1:1 ratio at Rs. 0.00 per share to existing…
2026-09-24 – 2026-09-28
₹95–101
-0.94%
69/100
₹54 cr
1200
₹242,400
—
PESHWA
More details ▾
—
72.61% → 52.39%
0%
Finaax Capital Advisors
Maashitla Securities Private Limited
Not disclosed
Roopa Screen SME
✅ LISTED 🔍 On September 22, 2025 (12 months prior to the offer filing), the company issued 6,915,000 bonus shares in a 6:1 ratio at Rs. 0.00 per share to…
2026-09-24 – 2026-09-28
₹60–64
+90%
60/100
₹19 cr
2000
₹256,000
₹14
ROOPA
More details ▾
—
85.23% → —
0%
Seren Capital
Bigshare Services Private Limited
Not disclosed
Green Asia Impex SME
✅ LISTED 🔍 In FY26, restated PAT grew 50.80% to Rs. 15.6112 crore (from Rs. 10.3520 crore in FY25 and Rs. 6.6599 crore in FY24). However, Cash Flow from…
2026-09-24 – 2026-10-01
₹84–89
0%
60/100
₹60 cr
1600
₹284,800
—
GREENASIA
More details ▾
Rs 53.10 cr fresh · Rs 7.00 cr OFS
92.02% → —
0%
Indorient Financial Services
Bigshare Services Private Limited
Not disclosed
Acevector(Snapdeal) MAINBOARD
✅ LISTED 🔍 In Fiscal 2025, AceVector recognized an exceptional expense of ₹ 57.89 crore towards expected credit loss provision on an advertisement security…
2026-09-25 – 2026-09-29
₹30–32
-11.5%
63/100
₹420 cr
468
₹14,976
₹2
ACEVECTOR
More details ▾
Rs 287 cr fresh · Rs 133 cr OFS (ofs derived from issue size)
53.24% → —
0%
IIFL Capital Services, CLSA India, Systematix Corporate Services
MUFG Intime India Private Limited
Not disclosed
Runwal Enterprises MAINBOARD
✅ LISTED 2026-09-25 – 2026-09-29
₹290–305
0%
—
₹500 cr
49
₹14,945
₹15
RUNWALENTR
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
MUFG Intime India Private Limited
Not disclosed
Orient Cables (India) MAINBOARD
✅ LISTED 🔍 Orient Cables is involved in cross-litigation with Orient Electric Limited regarding the trademark 'ORIENT CABLES' and corporate name, with Orient…
2026-09-25 – 2026-09-29
₹258–272
+65.44%
56/100
₹552 cr
55
₹14,960
₹85
ORIENTCABL
More details ▾
Rs 320 cr fresh · Rs 232 cr OFS
99.99% → —
0%
IIFL Capital Services, JM Financial
KFin Technologies Limited
Not disclosed
✅ LISTED
🔍 On May 8, 2026 (4 months prior to RHP filing), the company issued 10,765,000 bonus shares in a 100:1 ratio at Rs. 0.00 per share to promoters Vineet…
2026-09-25 – 2026-09-29
₹104–110
0%
58/100
₹42 cr
1200
₹264,000
₹12
BMISL
More details ▾
—
99.99% → —
0%
GYR Capital Advisors
KFIN TECHNOLOGIES LIMITED
Not disclosed
German Green Steel & Power MAINBOARD
✅ LISTED 2026-09-25 – 2026-09-29
₹132–139
+2.16%
—
₹304 cr
107
₹14,873
₹25
GERMAN
Forensic read of the filing is in progress. Calendar and offer facts are live.
More details ▾
—
Not disclosed
Not disclosed
—
Bigshare Services Private Limited
Not disclosed
✅ LISTED
🔍 In February 2026 (7 months prior to RHP filing), the company issued 5,114,991 bonus shares in a 1:2 ratio at Rs. 0.00 per share by capitalizing Rs…
2026-09-28 – 2026-10-05
₹50–53
+13.21%
70/100
₹31 cr
2000
₹212,000
—
SHREETNB
More details ▾
—
30.99% → 22.28%
0%
Corporate Makers Capital
MUFG INTIME INDIA PRIVATE LIMITED
Not disclosed
SRIT India MAINBOARD
✅ LISTED 🔍 SRIT India Limited recorded negative cash flow from operations of ₹ -12.10 crore in Fiscal 2026 (compared to positive CFO of ₹ 17.97 crore in FY25…
2026-09-28 – 2026-09-30
₹123–130
+13.85%
57/100
₹218 cr
115
₹14,950
₹30
SRIT
More details ▾
—
84.74% → —
0%
Choice Capital Advisors
KFin Technologies Limited
Not disclosed
Shivchem Agro SME
✅ LISTED 🔍 As at March 31, 2026, the company had outstanding capital advances paid to promoters totaling Rs. 2.3798 crore (Rohit Agarwal Rs. 1.0242 crore and…
2026-09-28 – 2026-09-30
₹59–62
0%
64/100
₹14 cr
2000
₹248,000
—
SHIVCHEM
More details ▾
—
90.14% → 63.1%
0%
Shannon Advisors
MAASHITLA SECURITIES PRIVATE LIMITED
Not disclosed
Shah Investor’s Home MAINBOARD
✅ LISTED 🔍 The Serious Fraud Investigation Office (SFIO), Ministry of Corporate Affairs, issued a summons dated August 05, 2025 in relation to client fund flows…
2026-09-28 – 2026-09-30
₹159–167
+2.4%
47/100
₹90 cr
85
₹14,195
₹9
SHAHINVEST
More details ▾
—
60.97% → —
0%
BEELINE CAPITAL ADVISORS
MUFG INTIME INDIA PRIVATE LIMITED
Not disclosed
Pind Hospitality SME
✅ LISTED 🔍 The company defaulted on 4 monthly loan installments totaling Rs. 0.1662 crore owed to Aditya Birla Finance Ltd (account nos. 000000710370 and…
2026-09-28 – 2026-09-30
₹93–99
-20%
71/100
₹18 cr
1200
₹237,600
—
PIND
More details ▾
—
84.72% → 59.3%
0%
Fedex Securities
BIGSHARE SERVICES PRIVATE LIMITED
Not disclosed
✅ LISTED
🔍 On November 9, 2024 (22 months prior to RHP filing), the company issued 15,150,736 bonus shares in an 8:1 ratio at Rs. 0.00 per share by capitalizing…
2026-09-29 – 2026-10-05
₹80–85
+48.24%
67/100
₹48 cr
1600
₹272,000
₹42
EIMS
More details ▾
Rs 38.59 cr fresh · Rs 9.41 cr OFS (fresh derived from issue size)
84.5% → —
0%
Oneview Corporate Advisors
MAASHITLA SECURITIES PRIVATE LIMITED
Not disclosed
✅ LISTED
🔍 On September 26, 2024, the company issued 8,157,000 bonus shares in a 1:1 ratio at Rs. 0.00 per share, expanding promoter equity capital prior to…
2026-09-30 – 2026-10-06
₹186–196
+12.76%
67/100
₹122 cr
600
₹235,200
₹0
ACMERAIL
More details ▾
Rs 106 cr fresh · Rs 15.71 cr OFS (fresh derived from issue size)
97.19% → —
0%
Hem Securities
BIGSHARE SERVICES PRIVATE LIMITED
Not disclosed
Nityas Gems & Jewellery MAINBOARD
✅ LISTED 🔍 Nityas Gems and Jewellery Limited incurred negative cash flows from operating activities of ₹ -14.73 crore in FY26, ₹ -10.05 crore in FY25, and ₹…
2026-09-30 – 2026-10-05
₹70–75
+6.67%
59/100
₹108 cr
200
₹15,000
—
NITYAS
More details ▾
—
56% → —
0%
Choice Capital Advisors
Bigshare Services Private Limited
Not disclosed
Paramount Syntex SME
✅ LISTED 🔍 On March 07, 2024 (18 months prior to DRHP filing), the company issued 10,300,500 bonus shares in a 30:1 ratio at Rs. 0.00 per share by capitalizing…
2026-09-30 – 2026-10-06
₹119–127
-9.45%
62/100
₹82 cr
1000
₹254,000
—
PARASYNTEX
More details ▾
—
91.74% → —
0%
Sobhagya Capital Options
BIGSHARE SERVICES PRIVATE LIMITED
Not disclosed
TNA Solutions SME
✅ LISTED 🔍 On July 14, 2026 (2 months prior to RHP filing), the company issued 12,000,000 bonus shares in a 4:1 ratio at Rs. 0.00 per share by capitalizing…
2026-09-30 – 2026-10-06
₹66–70
-20%
57/100
₹38 cr
2000
₹280,000
₹10
TNA
More details ▾
—
68.62% → 50.43%
0%
Credora Partners
MAASHITLA SECURITIES PRIVATE LIMITED
Not disclosed
Vishal Nirmiti MAINBOARD
✅ LISTED 🔍 In February 2025, CBI conducted a search at the company's Mumbai office in connection with an investigation under Prevention of Corruption Act…
2026-09-30 – 2026-10-05
₹208–220
-2.27%
66/100
₹178 cr
68
₹14,960
₹2
VNL
More details ▾
Rs 145 cr fresh · Rs 33.00 cr OFS
37.51% → —
0%
Saffron Capital Advisors
MUFG Intime India Private Limited
Not disclosed
✅ LISTED
🔍 On March 19, 2026 (6 months prior to RHP filing), the company issued 10,587,824 bonus shares in a 16:1 ratio at Rs. 0.00 per share by capitalizing…
2026-10-05 – 2026-10-07
₹77–82
2.72x
84/100
₹35 cr
1600
₹262,400
—
RKFAL
More details ▾
—
99.62% → 72.22%
0%
Affinity Global Capital Market
Cameo Corporate Services Limited
Not disclosed
HD Fire Protect MAINBOARD
✅ LISTED 🔍 Hitesh Dedhia & Co, Chartered Accountants, resigned as joint statutory auditor on March 27, 2025. Subsequently, Hitesh Dedhia was appointed as Chief…
2026-10-13 – 2026-10-15
₹258–271
+23.62%
71/100
₹712 cr
55
₹14,905
₹82
HDFIRE
More details ▾
Rs 0 cr fresh · Rs 712 cr OFS
95.33% → —
0%
Ambit, Anand Rathi Advisors, IIFL Capital Services
MUFG Intime India Private Limited
Not disclosed
Vaibhav Vyapaar SME
✅ LISTED 🔍 Predecessor statutory auditor M/s K S Ramkumar & Co. resigned on September 16, 2026 as the firm was not compliant with Chartered Accountant…
2026-10-13 – 2026-10-15
₹51–54
3.8x
59/100
₹42 cr
2000
₹216,000
₹2
LOANFRONT
More details ▾
Rs 42.00 cr fresh · Rs 0 cr OFS (fresh derived from issue size)
99.99% → —
0%
Getfive Advisors
Kfin Technologies Limited
Not disclosed
Fusion CX MAINBOARD
✅ LISTED 🔍 Statutory auditor CARO reports noted material variances between quarterly trade receivable statements submitted to lending banks for working capital…
2026-10-14 – 2026-10-16
₹275–289
4.43x
69/100
₹702 cr
51
₹14,739
₹4
FUSIONCX
Lists today
Check allotment status →
Read the RHP →
More details ▾
Rs 500 cr fresh · Rs 202 cr OFS
98.46% → —
0%
Nuvama Wealth Management, IIFL Capital Services, Motilal Oswal Investment Advisors
KFin Technologies Limited
Not disclosed
✅ LISTED
🔍 On February 19, 2026 (7 months prior to RHP filing), the company issued 27,048,200 bonus shares in a 100:1 ratio at Rs. 0.00 per share by…
2026-10-14 – 2026-10-16
₹105–112
8.32x
56/100
₹116 cr
1200
₹268,800
₹2
RAVITA
Lists today
Check allotment status →
Read the RHP →
More details ▾
—
84.52% → —
0%
Vivro Financial Services
MUFG Intime India Private Limited
Not disclosed
GMP is unofficial market chatter, shown for information only — never part of the FinMinutes Score. Educational, not investment advice.
IPO FAQs
What is the FinMinutes IPO Score?
A deterministic 0–100 score computed from the company's DRHP/RHP across governance, financials, valuation and forensic red-flags. It is transparent and rules-based, not an opinion, and is never a buy or sell recommendation.
What is IPO GMP (Grey Market Premium)?
GMP is an unofficial, over-the-counter premium quoted in the grey market before listing. FinMinutes shows it for information only — it is not verified, not endorsed, and never part of the FinMinutes Score.
How do I check IPO subscription status?
Each live IPO card shows the latest QIB, NII, retail and total subscription (in times, x) as reported, updated through the offer window.
How do I apply for an IPO?
Apply via your broker or bank's ASBA/UPI mandate during the offer window using the price band and lot size shown on each IPO's page.
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
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Which IPOs are open right now?
The live list at the top shows everything open for subscription, plus what is opening soon and what has just been listed. It updates on its own as issues move through their cycle
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How is the FinMinutes score worked out?
It is computed from the filing, across weighted pieces like financial quality, issue structure and governance forensics. Every piece and its weight are shown on the IPO’s own page. Where the filing does not disclose something, we hold that piece neutral and say so, rather than make it up.
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Is GMP (grey market premium) reliable?
IPO GMP Today is the single most asked question around IPO in India, but GMP comes from the unofficial grey market and can jump around on sentiment. It says something about demand today, and nothing about the quality of the business. We show it for information only and keep it out of our score.
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What is the difference between a mainboard and an SME IPO?
Mainboard IPOs list on the main NSE and BSE boards, are reviewed by SEBI, and open to retail from around 14,000 to 15,000 rupees. SME IPOs listed on NSE Emerge or BSE SME are reviewed by the exchange and need roughly 1 to 2 lakh to apply, with thinner liquidity after listing. Different instruments, different risks.
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Does FinMinutes tell me which IPOs to apply to?
No. We give you the forensic read, grounded entirely in the filing. The facts, the ratios, the red flags. You decide. We do not give buy or sell calls yet. That layer only arrives once our Research Analyst registration is live.