Every mainboard IPO on NSE and BSE: what is open for bidding today, how many times each investor category has subscribed (QIB, NII and retail, across both exchanges), when it lists, and our AI estimate of the listing-day gain and the day's maximum gain. Subscription refreshes every 15 minutes while bidding is open.
| Company | Bidding | Price band | Lot | Min. investment | Issue size | Expected listing |
|---|---|---|---|---|---|---|
| EAAA India AlternativesEDELALTS | 26 Oct – 28 Oct | ₹1,585–1,665 | 9 | ₹14,985 | — | Mon 02 Nov |
| BLS PolymersBLSPOLY | 27 Oct – 29 Oct | ₹142–150 | 100 | ₹15,000 | — | Tue 03 Nov |
| SFC Environmental TechnologiesSFCTECH | 27 Oct – 29 Oct | ₹313–330 | 45 | ₹14,850 | — | Tue 03 Nov |
| M. K. Sons Fine JewelsMKSONS | 28 Oct – 30 Oct | ₹153–162 | 91 | ₹14,742 | — | Wed 04 Nov |
Listing gain is the opening price on NSE on the listing day against the issue price; day high and close are from the same session. "AI estimate" is the estimate made before listing; bt marks a back-tested estimate (made by a model that had only seen earlier years' IPOs).
| Company | Closed | Size | Issue price | QIB | NII | Retail | Total | Listing gain | Day high | Day close | Now | AI estimate |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fusion CXFUSIONCX · listed 22 Oct 2026 | 16 Oct | ₹738 Cr | ₹289 | 4.01x | 4.50x | 5.70x | 4.45x | +5.5% | +8.3% | +0.2% | +0.2% | -1.3%bt |
| HD Fire ProtectHDFIRE · listed 21 Oct 2026 | 15 Oct | ₹712 Cr | ₹271 | 257x | 203x | 30.5x | 132x | +23.6% | +25.5% | +13.2% | +2.1% | +37.8%bt |
| Nityas Gems and JewelleryNITYAS · listed 08 Oct 2026 | 05 Oct | ₹189 Cr | ₹75.0 | 1.06x | 2.05x | 4.04x | 2.25x | +6.7% | +12.0% | +12.0% | -0.3% | +2.2%bt |
| Vishal NirmitiVNL · listed 08 Oct 2026 | 05 Oct | ₹189 Cr | ₹220 | 1.27x | 1.81x | 1.67x | 1.71x | -2.3% | -2.3% | -7.2% | -41.5% | -1.1%bt |
| Shah Investor's HomeSHAHINVEST · listed 06 Oct 2026 | 30 Sep | ₹90.2 Cr | ₹167 | 28.1x | 95.5x | 19.3x | 38.1x | +2.4% | +7.5% | +4.1% | -16.1% | +3.0%bt |
| Srit IndiaSRIT · listed 06 Oct 2026 | 30 Sep | ₹218 Cr | ₹130 | 91.8x | 313x | 63.7x | 125x | +13.8% | +19.3% | +19.3% | -14.1% | +18.9%bt |
| German Green Steel and PowerGERMAN · listed 05 Oct 2026 | 29 Sep | ₹319 Cr | ₹139 | 20.9x | 54.0x | 22.8x | 29.0x | +2.2% | +2.7% | -7.7% | -26.0% | +2.3%bt |
| Runwal EnterprisesRUNWALENTR · listed 05 Oct 2026 | 29 Sep | ₹526 Cr | ₹305 | 3.89x | 3.94x | 1.12x | 2.50x | 0.0% | +0.9% | -1.2% | -27.2% | -2.3%bt |
| AceVectorACEVECTOR · listed 05 Oct 2026 | 29 Sep | ₹429 Cr | ₹32.0 | 3.38x | 8.16x | 4.62x | 4.93x | -11.5% | -10.2% | -18.5% | -32.4% | +0.6%bt |
| Orient Cables (India)ORIENTCABL · listed 05 Oct 2026 | 29 Sep | ₹582 Cr | ₹272 | 183x | 116x | 30.5x | 92.3x | +65.4% | +70.9% | +48.9% | +33.0% | +21.8%bt |
| A-One Steels IndiaAONESTEELS · listed 01 Oct 2026 | 28 Sep | ₹426 Cr | ₹405 | 7.30x | 24.5x | 8.64x | 11.6x | +12.3% | +16.1% | +2.9% | -4.6% | +4.0%bt |
| MoneyviewMONEYVIEW · listed 01 Oct 2026 | 28 Sep | ₹1,123 Cr | ₹34.0 | 227x | 115x | 19.6x | 98.5x | +61.8% | +82.3% | +58.5% | +54.7% | +33.9%bt |
| ArMee InfotechARMEE · listed 30 Sep 2026 | 25 Sep | ₹335 Cr | ₹375 | 2.99x | 2.09x | 2.47x | 2.44x | 0.0% | 0.0% | -20.0% | -29.2% | -3.9%bt |
| Adroit Industries (India)ADROITIND · listed 30 Sep 2026 | 25 Sep | ₹151 Cr | ₹134 | 195x | 332x | 99.8x | 177x | +75.4% | +85.4% | +85.4% | +21.6% | +39.4%bt |
| Elevate CampusesELEVATE · listed 30 Sep 2026 | 25 Sep | ₹2,216 Cr | ₹362 | 2.52x | 0.84x | 1.01x | 1.79x | -1.9% | +3.0% | -10.8% | -17.1% | +1.8%bt |
All 108 mainboard IPOs of 2026, with subscription and listing performance →
96 of these are back-tested: each was scored by a version of the model that had seen only the IPOs of earlier years, so it could not have learned from the outcome. Estimates made live, before listing, are stored as made and never revised.
Mainboard IPOs since 2019 grouped by how many times the QIB (institutional) portion was subscribed. Strong institutional demand has gone with better listings, but every group has had misses.
| QIB subscription | IPOs | Avg listing gain | Median | Listed at a premium | Median day high |
|---|---|---|---|---|---|
| Below 1x | 2 | +18.6% | +18.6% | 50% | +36.7% |
| 1x to 10x | 146 | -0.5% | 0.0% | 44% | +2.7% |
| 10x to 50x | 87 | +6.6% | +4.4% | 64% | +10.5% |
| 50x to 150x | 115 | +35.9% | +25.7% | 94% | +33.8% |
| Above 150x | 91 | +47.9% | +37.7% | 98% | +45.6% |
Book running lead managers with four or more mainboard listings since 2023, by the issues they managed (an issue usually has several).
| Lead manager | IPOs | Avg listing gain | Median | At a premium |
|---|---|---|---|---|
| JM Financial | 76 | +19.8% | +6.9% | 74% |
| ICICI Securities | 70 | +16.8% | +6.8% | 67% |
| Axis Capital | 65 | +20.1% | +13.7% | 78% |
| IIFL Capital Services | 64 | +21.0% | +12.3% | 70% |
| Kotak Mahindra Capital Company | 51 | +21.1% | +12.0% | 78% |
| Motilal Oswal Investment Advisors | 42 | +12.8% | +8.9% | 71% |
| SBI Capital Markets | 39 | +16.8% | +10.0% | 64% |
| Nuvama Wealth Management | 35 | +11.9% | +5.2% | 66% |
| DAM Capital Advisors | 26 | +12.2% | +4.4% | 62% |
| Equirus Capital | 24 | +18.9% | +10.1% | 71% |
| Citigroup Global Markets India | 24 | +18.1% | +8.6% | 71% |
| J.P. Morgan India | 21 | +23.4% | +12.0% | 86% |
| Jefferies India | 21 | +18.7% | +11.1% | 81% |
| Morgan Stanley India Company | 19 | +14.0% | +5.5% | 63% |
| Pantomath Capital Advisors | 18 | +20.8% | +12.7% | 78% |
Subscription. "10x" means investors bid for ten times the shares on offer in that category. QIBs are qualified institutional buyers (mutual funds, insurers, banks, foreign portfolio investors); NII (or HNI) are non-institutional bids above ₹2 lakh, split into small NII (₹2-10 lakh) and big NII (above ₹10 lakh); retail bids are up to ₹2 lakh. Anchor investors are allotted a day before bidding opens and are not part of these figures.
Timeline (T+3). Since December 2023 every mainboard IPO follows the same timetable after bidding closes on day T: allotment is finalised on T+1, refunds and demat credit on T+2, and the shares list on T+3 (trading days).
Listing price. On listing day NSE and BSE run a special pre-open session from 9:00 to 10:00 am to discover the opening price; normal trading starts at 10:00. The listing gain here is that opening price on NSE against the issue price.
AI listing estimate. For each IPO with bids, our AI model estimates the listing gain at the open, a likely range, the highest the stock may reach on its first day and the chance of listing above the issue price. It is trained on the outcomes of hundreds of past Indian mainboard IPOs and is updated as bids come in. Its record is shown above.
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