IPO Guru
IPO Guru
IPO Reviews & Analysis · 11 Jul 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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Closing today
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Allotment today
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Listing today
Hottest IPOs this week
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Millworks Technologies logo
Millworks Technologies
SME Opens 14 Jul
GMP
₹390 +117.8%
Subscription
QIB —
NII —
Retail —
GMP trend ▲+₹110
Trading at a grey-market premium Read full review →
Kusumgar logo
Kusumgar
MAINBOARD Closed · lists 15 Jul
GMP
₹160 +38.2%
Subscription
QIB 312.07x
NII 138.47x
Retail 22.22x
GMP trend ▲+₹125
Strong subscription demand across categories Read full review →
Devson Catalyst logo
Devson Catalyst
SME Open · closes 13 Jul
GMP
₹45 +38.1%
Subscription
QIB 2.60x
NII 27.14x
Retail 42.88x
GMP trend ▲+₹45
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
Laser Power & Infra
₹203-214 · Lot 70
GMP
₹37+17.3%
Subscribed
1.80x
QIB
1.29x
NII
3.45x
Retail
1.39x
2 days left View details →
SME STRONG
Devson Catalyst
₹112-118 · Lot 1200
GMP
₹45+38.1%
Subscribed
27.35x
QIB
2.60x
NII
27.14x
Retail
42.88x
2 days left View details →
SME MODERATE
Happy Steels
₹62-66 · Lot 2000
GMP
₹14+21.2%
Subscribed
3.17x
QIB
0.63x
NII
5.74x
Retail
3.53x
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 — Kusumgar, 13 Jul
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
Aastha Spintex MAIN +3.7% → —
Advit Jewels MAIN +35.9% → ▲ 36.9%
Jivial Industries SME No signal → ▼ 20.0%
Riyaasat Lifestyle SME No signal → ▼ 20.0%
Avience Biomedicals SME +69.7% → ▲ 90.0%
Liotech Industries SME No signal → ▼ 19.9%
Leapfrog Engineering Services SME No signal → ▼ 4.3%
Horizon Reclaim (India) SME +72.8% → ▲ 46.6%

Broker & analyst reports

Independent verdicts from India's trusted research desks.

All analysts →
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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IPO Guru is an information platform. 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.