The IPO market in October 2026 saw 14 mainboard issues close and raise about ₹44,610 crore. Eighteen mainboard IPOs listed during the month. Fourteen of them opened above the issue price, and the average listing gain was 15.8%.
How did mainboard IPOs do in October?
The table below is built from IPO Guru records. Listings and closings differ because some issues that closed in September listed in October.
| Mainboard, October 2026 | Figure |
|---|---|
| Issues closed | 14 |
| Money raised | ₹44,610 crore |
| Listings | 18 |
| Listed above issue price | 14 |
| Average listing gain | 15.8% |
Which IPOs got the most bids?
BLS Polymers drew the most demand. It was subscribed 241.22 times. Tonbo Imaging India followed at 135.9 times, and HD Fire Protect at 132.21 times.
Which listings did best and worst?
Three mainboard IPOs listed more than 60% above their issue price. Three others opened flat or below it.
| Listing | Company | Gain vs issue price |
|---|---|---|
| Best | Tonbo Imaging India | 65.71% |
| Best | Orient Cables (India) | 65.44% |
| Best | Moneyview | 61.76% |
| Weakest | Acevector | -11.5% |
| Weakest | Vishal Nirmiti | -2.27% |
| Weakest | Runwal Enterprises | 0% |
Listing gain is the opening price compared with the issue price. A flat listing means the share opened exactly at the issue price. A negative number means it opened below it. It does not tell you where the share trades later. You can see every past listing on our IPO performance page.
What about SME IPOs?
The SME board was busier but smaller. Twenty-two SME issues closed and raised about ₹1,173 crore. Twenty-seven SME IPOs listed, and 12 of them opened above the issue price.
| SME, October 2026 | Figure |
|---|---|
| Issues closed | 22 |
| Money raised | ₹1,173 crore |
| Listings | 27 |
| Listed above issue price | 12 |
| Average listing gain | 12.12% |
Vans Electroengineerings was the most bid SME issue at 584.44 times. It also listed 90% above its issue price, level with Roopa Screen. The SME IPO performance page has the full list.
What our data shows
The gap between the two boards is easy to see in the tables above.
On the mainboard, about four in five listings opened above the issue price. On the SME board it was fewer than half. The average SME gain looks fine only because a few listings gained close to 90%.
What happens next
The pipeline did not slow down. Our records show 236 DRHP stories and 45 SEBI approvals for the month. For last month's picture, read our note on September's record fundraising. We will publish the November figures on the first days of December.
