IPO

Shares of Narmadesh Brass Industries made a muted debut on the BSE SME platform, listing at ₹495 per share, below the IPO issue price of ₹515.The listing price marked a decline of nearly 4 percent compared with the issue price, reflecting cautious investor sentiment on debut after the SME issue concluded with a modest subscription.Weak Start on Listing Day After opening at ₹495, the stock faced selling pressure during the session and moved lower to hit its lower price band of ₹470.25. The day’s trading range remained between ₹495 on the higher side and ₹470.25 on the lower side.At the time of observation, the stock was trading at ₹470.25, down 5 percent from the previous close and about 8.7 percent below the IPO issue price...

Ahmedabad, January 21, 2026 (Wednesday): GRE Renew Enertech Limited (BSE SME: GRERENEW) made a muted debut on the BSE SME platform on Wednesday, with its shares listing at ₹96 apiece, marking a discount of 8.57 percent to the IPO issue price of ₹105 per share. The subdued listing came despite strong subscription numbers during the IPO bidding period, reflecting cautious sentiment in the SME secondary market at the time of debut. Listing Day Performance The stock opened at ₹96, matching its listing price. During early trade, shares moved within a narrow range, touching an intra-day high of ₹99 and slipping to a low of ₹93. As of 10:02 AM IST, the stock was trading at ₹93, down ₹12 or 11.43 percent from the issue price and ₹3 or 3.13...

Mumbai, January 21, 2026 – Indo SMC Limited (BSE SME: INDOSMC) made its stock market debut on Wednesday, listing at ₹149 per share, exactly in line with its IPO issue price, on the BSE SME platform. Despite a flat listing, the stock came under selling pressure soon after listing and was trading 3.15 percent lower at ₹144.30 by mid-morning trade, reflecting profit booking after the exceptionally strong subscription response during the IPO phase. Listing SnapshotParticularsDetailsIPO Issue Price₹149 per shareListing Price₹149 per shareOpening Price₹149Day’s High₹149Day’s Low₹141.55Previous Close₹149Current Price (10:02 AM IST)₹144.30ChangeDown ₹4.70 (3.15%)The stock touched the lower circuit level of ₹141.55...

New Delhi, January 21, 2026 IST: KRM Ayurveda Limited has opened its initial public offering for public subscription today, even as the company completed its anchor investor allocation a day earlier, raising funds at the upper end of the price band. The SME IPO is open from January 21 to January 23, 2026, with the company set to list on January 29, 2026. The issue is priced in the range of ₹128 to ₹135 per share, with a total issue size of approximately ₹77.49 crore, entirely comprising a fresh issue. Anchor Allocation Sets the Tone Ahead of the public issue opening, KRM Ayurveda finalized the allotment of 15,42,000 equity shares to anchor investors at a price of ₹135 per share, aggregating to about ₹20.82 crore. The anchor allocation...

EAAA India Alternatives, an arm of Edelweiss Financial Services, has filed draft papers to raise Rs 1,500 crore through an initial public offering.Entire Issue Structured as Offer for Sale According to the draft red herring prospectus, the proposed IPO will be entirely an offer for sale by the Edelweiss Group. As a result, EAAA India Alternatives will not receive any proceeds from the issue, with the full amount going to the selling shareholder.Company Profile and Assets Under Management Incorporated in 2008, EAAA India Alternatives is positioned as one of India’s leading alternative investment platforms, with more than 15 years of experience in managing long-term capital. As of September 30, 2025, the company reported assets under...

Company Working Internally on Listing Plan Jio Platforms is awaiting the final government notification on recommendations made by Securities and Exchange Board of India before firming up its public listing plan, according to a senior company official.The company is already working internally on preparations for its initial public offering, but key decisions will be taken only after clarity emerges on the final framework.Relaxation Proposed for Large-Cap IPOs The market regulator had earlier decided to ease IPO norms for very large companies and proposed extending the timeline for meeting minimum public shareholding requirements by up to ten years.Under the recommendations, companies with a market capitalisation above ₹1 lakh crore...

Offer to Be Structured as Pure Offer for Sale India’s largest fintech company PhonePe has received approval from Securities and Exchange Board of India for its initial public offering and is now preparing to file updated draft papers for the proposed listing.The public issue will be structured entirely as an Offer For Sale by existing shareholders. The company will not raise any fresh primary capital through the IPO.Global Investment Banks Mandated for the Issue PhonePe has already appointed a consortium of global and domestic investment banks to manage the issue. The appointed bankers include Kotak Mahindra Capital, JPMorgan Chase, Citigroup and Morgan Stanley.Strong Funding History and Valuation The fintech major, backed by the...

Kolkata, January 20: NBFC-MFI Arohan Financial Services is preparing to enter the capital markets in the middle of the next financial year with a proposed initial public offering of Rs 1,500 crore, according to Managing Director Manoj Kumar Nambiar.The company has appointed merchant bankers and expects to file its draft offer document within the next two months. The IPO is planned for the second quarter of the next financial year.Fresh Issue and Offer for Sale Details Out of the total Rs 1,500 crore issue size, Rs 750 crore will be raised through a fresh issue of equity shares. The remaining Rs 750 crore will come through an offer for sale by existing investors, including Tano Capital and the Michael and Susan Dell Foundation.The...

Public Issue Opens January 20, Closes January 22 The Initial Public Offering of Digilogic Systems Limited opens for public subscription today, January 20, with the issue scheduled to close on January 22. The company is set to list its equity shares on the BSE SME platform. Digilogic Systems operates in the automated test equipment systems and application software space, catering to defence and aerospace applications. Issue Size, Price Band, and Lot Details The IPO comprises a fresh issue of equity shares worth up to ₹69.67 crore and an offer for sale of up to 11.50 lakh equity shares, aggregating ₹11.33 crore. The total issue size stands at ₹81 crore. The price band has been fixed at ₹98 to ₹104 per equity share, with investors required...

Madurai, January 20, 2026 – Hannah Joseph Hospital Limited, a Madurai-based multi-specialty healthcare provider, has filed its draft offer documents for an initial public offering, proposing a fresh issue of equity shares to fund a major capacity expansion and support general corporate needs. IPO Structure and Fund Utilisation The proposed public issue consists entirely of a fresh issuance of up to 60 lakh equity shares with a face value of ₹10 each. The company has not included any offer-for-sale component, indicating that all proceeds from the issue will flow directly into the business. A significant portion of the net proceeds is earmarked for capital expenditure related to the establishment of a Radiation Oncology Centre at its...

Mumbai, January 20, 2026: Advanta Enterprises Limited, a global agricultural solutions company backed by UPL Limited, has filed draft papers for its initial public offering comprising an offer for sale of up to 36.11 million equity shares with a face value of ₹1 each. The issue is structured as a 100% book-built offer, with no fresh issue component. IPO Structure and Share Sale Details The proposed public issue consists entirely of an offer for sale by existing shareholders, led by promoter UPL Limited, alongside select institutional investors. The company will not receive any proceeds from the offer, with sale proceeds accruing to the selling shareholders after deducting applicable expenses and taxes. Offer for Sale Breakdown...

Shares of Avana Electrosystems are set to make their stock market debut today, January 20, on the NSE SME platform, with grey market trends indicating a premium listing.Ahead of the debut, the company’s IPO is commanding a grey market premium of around 17 percent. The SME issue was priced at Rs 59 per share and closed for subscription on January 14 after attracting strong demand across investor categories.GMP Indicates Higher Listing Price Based on the prevailing grey market premium, Avana Electrosystems shares are indicated to list in the range of Rs 69 to Rs 70 per share. Grey market activity is unofficial and subject to change closer to the actual listing, but it reflects positive investor sentiment ahead of the debut.GMP Note...

Mumbai, January 20, 2026 – Logistics services provider Shadowfax Technologies Limited has raised Rs 856 crore from anchor investors, a day ahead of the opening of its initial public offering for public subscription. The anchor allocation was finalised on Monday, January 19, 2026, at the upper end of the IPO price band. Anchor Allocation Details Shadowfax allotted 6,90,33,955 equity shares to anchor investors at Rs 124 per share, including a share premium of Rs 114 per share. The anchor round saw participation from a diversified mix of domestic and global institutional investors spanning mutual funds, insurance companies, pension funds, and foreign institutions. Key Anchor Investors The anchor book included leading names such as Nippon...

Investor enthusiasm sets positive tone for value unlocking plans The strong investor response to the initial public offering of Bharat Coking Coal Ltd has strengthened confidence within Coal India Ltd, providing fresh momentum as the company evaluates stock market listings for its other subsidiaries.The IPO of Bharat Coking Coal, a wholly owned arm of Coal India, was fully subscribed within minutes of opening for bidding on January 9. The issue continued to attract sustained demand through the bidding period, ultimately closing with an overall subscription of more than 146 times.Market response reinforces listing strategy Coal India Chairman and Managing Director B Sairam said the strong response has reinforced confidence within the...

Faridabad, January 19, 2026: Shares of Defrail Technologies Limited are set to make their stock market debut on the BSE SME platform later today, with market attention firmly on the grey market premium, which is indicating healthy interest ahead of listing. In the unofficial market, the stock is currently commanding a grey market premium of ₹17 per share, implying a potential listing price of around ₹91, translating into an indicative upside of nearly 23 percent over the IPO issue price of ₹74. The GMP has remained stable over the past few sessions, reflecting sustained sentiment as the listing approaches. Defrail Technologies IPO GMP Trend Ahead of ListingDateIPO Price (₹)GMP (₹)SubscriptionEstimated Listing Price19 Jan 2026...

Mumbai, January 19, 2026: The equity shares of Bharat Coking Coal Limited are set to list in the next few hours today on the NSE and BSE, marking the culmination of one of the most closely tracked and heavily subscribed IPOs of the year.The listing follows the completion of the allotment, refund initiation, and demat credit process, with investors now watching the opening trade as the stock makes its public market debut.IPO Recap: Heavy Oversubscription Across Categories The Bharat Coking Coal IPO, priced at ₹21–₹23 per share, closed with an overall subscription of around 143.85 times, reflecting extraordinary demand across investor segments:Qualified Institutional Buyers (QIBs) led the final-day surge Non-Institutional Investors...

Mumbai, January 18, 2026: The equity shares of Bharat Coking Coal Limited are scheduled to list tomorrow, January 19, 2026, on the NSE and BSE, following the completion of the allotment and refund process. The listing comes after an exceptionally strong subscription response, with the IPO closing at about 143.85x overall subscription.Investor attention on the eve of listing is focused on the grey market premium (GMP), which has moderated from the mid-week peak but remains elevated ahead of the debut.Subscription and Allotment Recap The IPO, offered at a price band of ₹21 to ₹23 per share, drew heavy participation across all categories, led by qualified institutional buyers and non-institutional investors, with robust retail and...

IPO Schedule and Structure Digilogic Systems Limited, a city-based automated test equipment systems and application software provider serving the defence and aerospace sector, has announced the launch of its Initial Public Offering. The IPO will open for public subscription on January 20 and will close on January 22. The anchor book is scheduled to open on January 19.The company aims to list its equity shares on the BSE SME platform.Issue Size and Price Band The IPO comprises a fresh issue of equity shares worth up to ₹69.67 crore and an offer for sale of up to 11.50 lakh equity shares with a face value of ₹2 each, aggregating up to ₹11.33 crore. The total issue size stands at ₹81 crore.The price band has been fixed at ₹98 to ₹104...

GMP Trend Remains Flat Post Subscription The grey market premium for Narmadesh Brass Industries SME IPO remained unchanged at ₹0 on January 17, indicating stable unofficial market sentiment following the close of the public issue.As per the latest available data, the IPO continues to trade at par in the grey market, with the estimated listing price aligned with the issue price of ₹515 per share. The estimated profit per lot stands at zero, reflecting no premium or discount in the grey market.Day-wise GMP Movement The GMP for the Narmadesh Brass Industries SME IPO has remained flat throughout the bidding period and even after the issue closed. From January 7 through January 17, the grey market premium consistently stayed at ₹0...

Mumbai, January 17, 2026 – Indo SMC Limited (BSE SME: INDOSMC) saw extraordinary demand on the final day of bidding, with its SME IPO closing on Friday at an overall subscription of 102.83 times, driven by aggressive participation across all investor categories. The issue, which was open from January 13 to January 16, 2026, was priced in the band of ₹141 to ₹149 per share, with bids pouring in sharply during the final hours. Final Subscription Status (as of 6:59 PM, January 16) According to BSE data, the IPO received bids for 45.40 crore shares against an offer size of 44.15 lakh shares, translating into a 102.83x overall subscription. Category-wise Subscription BreakdownInvestor CategoryShares ReservedApplications ReceivedShares Bid...