IPO Guru
IPO Reviews & Analysis · 17 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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Listing today
Best IPO Now
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Tonbo Imaging India logo
Tonbo Imaging India
MAINBOARD Open · closes 19 Oct
GMP
₹516 +73.7%
Subscription
QIB 3.95x
NII 14.35x
Retail 7.12x
GMP trend ▲+₹391
Strong subscription demand across categories Read full review →
Bonfiglioli Transmissions logo
Bonfiglioli Transmissions
MAINBOARD Open · closes 19 Oct
GMP
₹129 +22.0%
Subscription
QIB 0.16x
NII 1.71x
Retail 1.16x
GMP trend ▲+₹57
Trading at a grey-market premium Read full review →
Sahajanand Medical Technologies logo
Sahajanand Medical Technologies
MAINBOARD Open · closes 19 Oct
GMP
₹35 +10.2%
Subscription
QIB 1.12x
NII 0.51x
Retail 0.82x
GMP trend ▲+₹10
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 STRONG
Tonbo Imaging India
₹665-700 · Lot 21
GMP
₹516+73.7%
Subscribed
7.77x
QIB
3.95x
NII
14.35x
Retail
7.12x
2 days left View details →
MAINBOARD MODERATE
Bonfiglioli Transmissions
₹558-586 · Lot 25
GMP
₹129+22.0%
Subscribed
0.99x
QIB
0.16x
NII
1.71x
Retail
1.16x
2 days left View details →
MAINBOARD MODERATE
Sahajanand Medical Technologies
₹327-344 · Lot 43
GMP
₹35+10.2%
Subscribed
0.82x
QIB
1.12x
NII
0.51x
Retail
0.82x
2 days left View details →
MAINBOARD WEAK
Zetwerk Manufacturing Business
₹143-151 · Lot 99
GMP
₹7+5.0%
Subscribed
0.31x
QIB
0.37x
NII
0.16x
Retail
0.35x
2 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 — Fusion CX, 19 Oct

Latest IPO news

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

All IPO news →
Fusion CX IPO Subscription Status: 4.45x on Final Day, QIB 4.01x

Fusion CX IPO Subscription Status: 4.45x on Final Day, QIB 4.01x

Fusion CX's ₹702 crore IPO closed at 4.45x on 16 October 2026. The GMP has fallen to ₹6 from ₹20. Full split, GMP history and 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 75 2 Canara Bank Securities Canara Bank Securities 50 Reliable Analyst 73 3 Ajcon Global Services Ajcon Global Services 20 Reliable Analyst 73 4 ICICI Direct ICICI Direct 33 Reliable Analyst 72 5 Angel One Angel One 56 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.