IPO Guru
IPO Guru
IPO Reviews & Analysis · 23 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.

15
Open now
3
Closing today
1
Allotment today
3
Listing today
Best IPO Now
1 / 3
Adroit Industries (India) logo
Adroit Industries (India)
MAINBOARD Open · closes 25 Sep
GMP
₹34 +25.4%
Subscription
QIB —
NII —
Retail —
GMP trend ▲+₹26
Trading at a grey-market premium Read full review →
ArMee Infotech logo
ArMee Infotech
MAINBOARD Open · closes 25 Sep
GMP
₹46 +12.3%
Subscription
QIB —
NII —
Retail —
GMP trend ▲+₹46
Trading at a grey-market premium Read full review →
Swastika Infra logo
Swastika Infra
MAINBOARD Open · closes 25 Sep
GMP
₹8 +4.3%
Subscription
QIB —
NII —
Retail —
GMP trend ▲+₹5
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
SME MODERATE
Robokidz Eduventures
₹100-106 · Lot 1200
GMP
₹65+61.3%
Subscribed
67.21x
QIB
0.97x
NII
78.70x
Retail
98.07x
Last day today View details →
SME WEAK
FX Multitech
₹110-116 · Lot 1200
GMP
No GMP
Subscribed
0.43x
QIB
0.01x
NII
1.22x
Retail
0.20x
Last day today View details →
SME WEAK
Vivekanand Cotspin
₹32-37 · Lot 3000
GMP
No GMP
Subscribed
0.23x
QIB
0.00x
NII
0.52x
Retail
0.20x
Last day today View details →
MAINBOARD WEAK
Varmora Granito
₹140-148 · Lot 101
GMP
₹3+2.0%
Subscribed
0.11x
QIB
0.00x
NII
0.05x
Retail
0.20x
1 day 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 — Axiom Gas Engineering, 23 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
Vama Wovenfab SME +0.9% → ▲ 0.0%
Shakti Polytarp SME +16.9% → ▼ 0.2%
Quanto Agroworld SME No signal → ▼ 0.0%
Manika Plastech MAIN +2.3% → ▲ 0.0%
Injecto Polymers SME No signal → ▼ 1.0%
Century Business Media SME No signal → ▲ 0.0%
Veegaland Developers MAIN +5.7% → ▲ 10.0%
Maharaja & Speedex India SME +15.1% → ▲ 34.4%

Broker & analyst reports

Independent verdicts from India's trusted research desks.

All analysts →
#AnalystReportsRatingScore
1 Nirmal Bang Nirmal Bang 26 Reliable Analyst 75 2 Aditya Birla Money Aditya Birla Money 21 Reliable Analyst 73 3 Canara Bank Securities Canara Bank Securities 47 Reliable Analyst 73 4 Arihant Capital Arihant Capital 23 Reliable Analyst 73 5 Geojit Financial Services Geojit Financial Services 5 Reliable Analyst 73
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.