IPO Guru
IPO Guru
IPO Reviews & Analysis · 15 Sep 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.

11
Open now
5
Closing today
9
Allotment today
2
Listing today
Best IPO Now
1 / 3
Manika Plastech logo
Manika Plastech
MAINBOARD Open · closes 16 Sep
GMP
₹4 +9.3%
Subscription
QIB 0.37x
NII 6.64x
Retail 8.74x
GMP trend ▼−₹3
Strong subscription demand across categories Read full review →
Veegaland Developers logo
Veegaland Developers
MAINBOARD Open · closes 15 Sep
GMP
₹11 +7.9%
Subscription
QIB 6.99x
NII 8.69x
Retail 6.40x
GMP trend ▼−₹3
Strong subscription demand across categories Read full review →
Raksan Transformers logo
Raksan Transformers
SME Open · closes 15 Sep
GMP
₹50 +18.3%
Subscription
QIB 12.63x
NII 8.82x
Retail 9.02x
GMP trend ▲+₹25
Strong subscription demand across categories 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
Veegaland Developers
₹130-140 · Lot 107
GMP
₹11+7.9%
Subscribed
7.06x
QIB
6.99x
NII
8.69x
Retail
6.40x
Last day today View details →
SME WEAK
Panchatv Bharat
₹140 · Lot 1000
GMP
₹21+15.0%
Subscribed
0.00x
QIB
0.00x
NII
0.00x
Retail
0.00x
Last day today View details →
SME STRONG
Om Galaxy
₹85-90 · Lot 1600
GMP
No GMP
Subscribed
1.24x
QIB
3.36x
NII
0.68x
Retail
0.36x
Last day today View details →
SME STRONG
Raksan Transformers
₹258-273 · Lot 400
GMP
₹50+18.3%
Subscribed
9.92x
QIB
12.63x
NII
8.82x
Retail
9.02x
Last day today 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 — Rentomojo, 15 Sep
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
Pranav Constructions MAIN +36.3% → ▲ 33.1%
Apana Logistics SME +1.7% → ▲ 0.0%
Qualiance International SME +63.8% → ▲ 77.1%
Deepa Jewellers MAIN +14.1% → ▲ 24.9%
Rays of Belief MAIN +6.3% → ▲ 0.0%
Fly-Hi Maritime Travels SME +1.0% → ▼ 20.0%
Farm Peace SME +100.0% → ▲ 90.0%
Purple Style Labs MAIN -1.7% → ▼ 7.0%

Broker & analyst reports

Independent verdicts from India's trusted research desks.

All analysts →
#AnalystReportsRatingScore
1 Nirmal Bang Nirmal Bang 25 Reliable Analyst 74 2 Canara Bank Securities Canara Bank Securities 45 Reliable Analyst 74 3 Arihant Capital Arihant Capital 22 Reliable Analyst 73 4 Aditya Birla Money Aditya Birla Money 13 Reliable Analyst 70 5 Anand Rathi Anand Rathi 34 Reliable Analyst 68
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.