IPO Guru
IPO Reviews & Analysis · 16 Oct 2026

IPO reviews & analysis,
before you Apply.

We review every Mainboard and SME IPO in India — the financials, strengths and risks — alongside live GMP and Subscription. Independent analysis that helps first-time investors understand an IPO before they apply.

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Open now
2
Closing today
2
Allotment today
0
Listing today
Best IPO Now
1 / 3
Tonbo Imaging India logo
Tonbo Imaging India
MAINBOARD Open · closes 19 Oct
GMP
₹500 +71.4%
Subscription
QIB 3.92x
NII 5.93x
Retail 3.19x
GMP trend ▲+₹375
Strong subscription demand across categories Read full review →
Bonfiglioli Transmissions logo
Bonfiglioli Transmissions
MAINBOARD Open · closes 19 Oct
GMP
₹140 +23.9%
Subscription
QIB 0.08x
NII 0.76x
Retail 0.57x
GMP trend ▲+₹68
Trading at a grey-market premium Read full review →
Sahajanand Medical Technologies logo
Sahajanand Medical Technologies
MAINBOARD Open · closes 19 Oct
GMP
₹43 +12.5%
Subscription
QIB 0.37x
NII 0.20x
Retail 0.40x
GMP trend ▲+₹18
Trading at a grey-market premium Read full review →

Open now — who's bidding?

Live GMP and who's actually bidding. Watch QIB (institutions) — strong QIB demand is the clearest sign an IPO is in real demand.

All live subscription →
Strong demand Awaiting data Weak demand
MAINBOARD MODERATE
Fusion CX
₹275-289 · Lot 51
GMP
₹22+7.6%
Subscribed
1.10x
QIB
0.05x
NII
1.45x
Retail
3.72x
Last day today View details →
SME STRONG
Ravita Engineering Services
₹105-112 · Lot 1200
GMP
₹2+1.8%
Subscribed
1.62x
QIB
1.33x
NII
2.12x
Retail
1.50x
Last day today View details →
MAINBOARD STRONG
Tonbo Imaging India
₹665-700 · Lot 21
GMP
₹500+71.4%
Subscribed
3.99x
QIB
3.92x
NII
5.93x
Retail
3.19x
3 days left View details →
MAINBOARD WEAK
Bonfiglioli Transmissions
₹558-586 · Lot 25
GMP
₹140+23.9%
Subscribed
0.47x
QIB
0.08x
NII
0.76x
Retail
0.57x
3 days left View details →
Allotment status

Did you get the shares?

Enter your PAN to check across BSE, NSE & registrars (KFintech, MUFG Intime).

Next basis of allotment — HD Fire Protect, 16 Oct

Latest IPO news

DRHP filings, openings, final subscription and listing day prices, as they happen.

All IPO news →
HD Fire Protect IPO Subscription Status: 132.21x on Final Day, QIB 256.65x

HD Fire Protect IPO Subscription Status: 132.21x on Final Day, QIB 256.65x

HD Fire Protect's ₹712 crore IPO closed 132.21x subscribed on 15 October. Category-wise split, retail odds, GMP and the allotment and listing dates.

Did GMP get it right?

GMP vs actual listing — the last 8 debuts.

We track our grey-market signal against actual listing-day results so you can judge how much to trust it.

All listings →
CompanyGMP signalListed at
R.K.Fashion Accessories SME +1.8% → ▼ 2.4%
TNA Solutions SME No signal → ▼ 20.0%
Acme India Industries SME +21.9% → ▲ 12.8%
Paramount Syntex SME No signal → ▼ 9.4%
Vishal Nirmiti MAIN +0.9% → ▼ 2.3%
Nityas Gems & Jewellery MAIN +1.3% → ▲ 6.7%
Eventions SME No signal → ▼ 5.9%
SJP Ultrasonics SME No signal → ▲ 10.7%

Broker & analyst reports

Independent verdicts from India's trusted research desks.

All analysts →
#AnalystReportsRatingScore
1 Nirmal Bang Nirmal Bang 30 Reliable Analyst 76 2 Ajcon Global Services Ajcon Global Services 20 Reliable Analyst 75 3 Canara Bank Securities Canara Bank Securities 50 Reliable Analyst 74 4 ICICI Direct ICICI Direct 33 Reliable Analyst 73 5 Angel One Angel One 55 Reliable Analyst 72
New to IPOs?

The 4 things to understand first.

01

What is GMP?

Grey Market Premium — the extra price investors will pay before listing. High GMP signals likely listing gains, but it's sentiment, not a promise.

02

QIB, NII & Retail?

The three bidder groups. Strong QIB (big institutions) demand is the best quality signal; Retail is you. Watch all three converge.

03

How do I apply?

Apply via your broker or bank using UPI before the close date. You bid in fixed lots — one lot is the minimum investment.

04

Checking allotment?

After the allotment date, enter your PAN on the registrar's site (KFintech / MUFG Intime) or BSE/NSE to see if you got shares.

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Founded by Abhishek Vohera · Independent IPO analysis since 2019

IPO Guru is an information platform and is not a SEBI-registered Research Analyst or Investment Adviser. GMP and subscription figures are sourced from public/grey-market data and are indicative only — not investment advice or a recommendation to buy or sell. Please do your own research before investing.