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9 live or upcoming · ₹10,506 Cr on offer
Indian IPOs,
decoded.
We read the prospectus so you don't have to — the financials, the valuation, the detail that is easy to miss. Every score shows its maths. Every page shows its sources. No tips. No hype. You decide.
- Open right now
- 2
- Opening soon
- 7
- Capital on offer
- ₹11k Cr
- Average listing gain
- 5.3%
First closes in 2 days
Next one opens tomorrow
Across live and upcoming issues
Across the last 6 listings tracked
Market pulse
What the money is doing right now
Every live and upcoming issue, ranked by whichever signal you care about. Sort by score to see what the fundamentals say, by grey market to see what the mood says — they disagree more often than you would think.
| Issue | Dates | ||||
|---|---|---|---|---|---|
| Tonbo ImagingDefence & Aerospace | 15 – 19 OctOpens soon | ₹460up 65.7% | — | 45Mixed | ₹852 Cr |
| HD Fire ProtectIndustrials | 13 – 15 OctOpen now | ₹86up 31.7% | — | 70Strong | ₹712 Cr |
| BonfiglioliIndustrials | 15 – 19 OctOpens soon | ₹150up 25.6% | — | 63Balanced | ₹2,534 Cr |
| SMTHealthcare | 15 – 19 OctOpens soon | ₹40up 11.6% | — | 51Mixed | ₹475 Cr |
| ZetwerkIndustrials | 15 – 19 OctOpens soon | ₹14up 8.9% | — | 58Balanced | ₹5,012 Cr |
| Fusion CXInformation Technology | 14 – 16 OctOpens soon | ₹19up 6.6% | — | 72Strong | ₹702 Cr |
| RavitaIndustrials | 14 – 16 OctOpens soon | ₹4up 3.6% | — | 80Exceptional | ₹116 Cr |
| Vaibhav VyapaarFinancials | 13 – 15 OctOpen now | ₹0unchanged 0.0% | — | 48Mixed | ₹42.10 Cr |
| Shellz IndiaConsumer Staples | 15 – 19 OctOpens soon | — | — | 56Balanced | ₹59.97 Cr |
Ranked by gmp. Grey-market premium is an unofficial, unregulated quote with no settlement guarantee — treat it as sentiment, not a forecast.
Which windows overlap
Bidding windows on one time axis. Issues stacked in the same week are competing for the same money.
- Bidding open
- Lists
- Today
Hover a bar for its dates and size. 9 issues on the calendar.
Open for bidding
You can apply to these today
Bidding closes at 5pm IST on the final day, and most brokers stop accepting UPI mandates earlier in the afternoon.
HD Fire Protect
Fire protection equipment & suppression systems
Open · Mainboard · closes in 2 days
GMP ₹86up 31.7%
- Price band
- ₹258 – ₹271
- One application
- ₹14,905
- Score
- 70/100
Vaibhav Vyapaar
Non-banking finance — digital unsecured personal lending
Open · SME · closes in 2 days
GMP ₹0unchanged 0.0%
- Price band
- ₹51 – ₹54
- One application
- ₹2,16,000
- Score
- 48/100
2 issues open now. Applying needs a demat account with a linked UPI ID — opening one is free.
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Opening soon7 issues · ₹9,752 Cr
- Fusion CXCustomer experience management & business process outsourcing₹19grey market
- RavitaHVAC & electro-mechanical engineering services₹4grey market
- BonfiglioliPower transmission and industrial drive systems — gear motors, gearboxes and drives₹150grey market
- SMTMedical devices — cardiovascular implants₹40grey market
- Shellz IndiaPackaged foods & confectionery₹59.97 Crissue size
- Tonbo ImagingDefence electronics — electro-optics, infrared and embedded vision systems₹460grey market
- ZetwerkContract manufacturing & industrial supply chain₹14grey market
Keeping ourselves honest
Did the grey market actually get it right?
Every IPO site publishes grey-market premium. Almost none of them ever check it against what happened. Here is the record across the listings this dataset tracks.
Premium before listing, against the actual move
The last grey-market quote recorded BEFORE listing day, against what the stock actually did, across the 12 tracked issues that have both.
- A tracked listing
- Where premium equals outcome
Direction right
92%
of 12 listings
Average miss
9.8 pts
in magnitude
Bias
+6.9 pts
tended to undershoot
Worst single call
37.8 pts
Bharat Coking Coal
Why the grey market is kept in a box →
Hover any point for its name and figures; labels are shown standing only where they fit without overlapping. A point on the dashed line means the premium matched the outcome exactly. Above it the grey market undershot; below it, it overshot. Only quotes recorded strictly before listing day are counted, so a premium quoted once trading had begun cannot flatter the record. This is 12 issues from this dataset alone — far too small a sample to generalise from, and shown to put a number on how much weight the premium deserves rather than to validate it.
Recently listed
How the last few actually did
Issue price against what the stock opened at. This is the only honest scoreboard for everything above it — and the reason we publish our own grey-market record alongside it.
R.K. Fashion
Imitation jewellery manufacturing & branded cosmetics distribution
Listed 12 Oct 2026 · SME
- Price band
- ₹77 – ₹82
- Listing gain
- down 2.4%
- Score
- 87/100
Acme India
Railway rolling stock — coach interiors, refurbishment and components
Listed 9 Oct 2026 · SME
GMP ₹43up 21.9%
- Price band
- ₹186 – ₹196
- Listing gain
- up 12.8%
- Score
- 65/100
Paramount Syntex
Textiles — recycled acrylic fibre and synthetic yarn spinning
Listed 9 Oct 2026 · SME
GMP ₹0unchanged 0.0%
- Price band
- ₹119 – ₹127
- Listing gain
- down 9.4%
- Score
- 69/100
EverestIMS
IT operations and service management software — ITSM, ITIM, AIOps, NCCM, ITAM and OSS
Listed 8 Oct 2026 · SME
- Price band
- ₹80 – ₹85
- Listing gain
- up 48.2%
- Score
- 78/100
Omara Ventures
Retail — designer diamond, gold and silver jewellery
Listed 8 Oct 2026 · SME
- Price band
- ₹296 – ₹311
- Listing gain
- up 2.6%
- Score
- 78/100
Pind Hospitality
Restaurants — Punjabi cuisine, food delivery and outdoor catering
Listed 6 Oct 2026 · SME
- Price band
- ₹93 – ₹99
- Listing gain
- down 20.0%
- Score
- 60/100
Learn
The parts nobody explains properly
Why allotment is a lottery and what actually improves your odds. What a grey-market premium is really quoting. How to read six hundred pages of prospectus in twenty minutes.
The pipeline
The big ones still to come
Filed with SEBI or publicly confirmed. At this stage most terms genuinely are not set yet — so they show as dashes here rather than as guesses dressed up as data.
- FlipkartE-commerce & online retail₹83,000 Crexpected
- Inox Clean EnergyRenewable energy IPP & solar module manufacturing₹10,000 Crexpected
- Jio PlatformsTelecom & digital services—expected
- PhonePeDigital payments & consumer fintech platform₹12,000 Crexpected
- Tata SonsHolding company (NBFC — Core Investment Company)—expected
- ZeptoQuick commerce — 10-minute grocery and essentials delivery₹12,000 Crexpected
The method
A score you are meant to argue with
Most IPO scores are a black box with a verdict attached. Open any pillar of ours and you get the raw metric, the curve it was mapped through, the sub-score and the weight — enough to disagree with the weighting and still trust the arithmetic. Undisclosed data lowers confidence rather than quietly scoring zero, and sentiment is capped at 8 points of 100, so a hot grey market can tilt a score but never carry one.
Read how the score is built