Dhara Rail Projects market debut was better than the expectations in the grey market, which had estimated about 13% listing gains.
Admach Systems share price: The listing has missed grey market estimates
Despite the absence of demonstrated profitability, valuations are often built on gross merchandise value and market share rather than earnings or free cash flow, AICPDF added.
The REIT, which has been backed by private equity major Blackstone, has a gross asset value of around Rs 39,000 crore
E to E Transportation IPO | The company launched its IPO of 48.4 lakh shares on December 26, raising Rs 84.2 crore at the upper end of price band of Rs 164-174 per share.
Deepa Jewellers IPO | The company plans to mop up Rs 250 crore by issuing fresh shares, while promoters Ashish Agarwal and his wife will be selling up to 1.18 crore equity shares via offer-for-sale.
This will be the fifth office real estate investment trust in the Indian market after Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust and Knowledge Realty Trust.
Sundrex Oil Company IPO GMP: Ahead of listing, the unlisted shares were trading flat at the IPO price with zero grey market premium (GMP).
Shyam Dhani Industries IPO GMP: The maiden public issue of the company saw strong investor interest, being subscribed 918x from December 22-24.
Gujarat Kidney market debut was better than the expectations in the grey market, which had expected a flat listing for its shares.
Neolite ZKW Lightings IPO | The public issue comprises of fresh issuance of shares worth Rs 400 crore, and an offer-for-sale of Rs 200 crore worth shares by existing shareholders.
Horizon Industrial Parks IPO | The public issue comprises of entirely fresh issue with no offer-for-sale component.
The SEBI has issued observations on the draft document of Varmora Granito on December 15, followed by Shivalaya Construction, and Behari Lal Engineering on December 24, and Knack Packaging on December 26.
The Rs 251-crore IPO was priced in a band of Rs 108–114 per share. The company had earlier raised a little over Rs 100 crore from anchor investors.
Horizon is expected to file its DRHP today with market regulator SEBI to raise around $300 million, sources said.
WOG Technologies IPO | The company approached capital markets to mop up Rs 375 crore via issuance of fresh shares, while existing shareholders including promoter Sunil Kumar will be offloading up to 43.28 lakh shares via offer-for-sale.
"I would say Rs 1.5 lakh crore is no longer an anomaly—it’s becoming the baseline for India’s IPO ecosystem," said Krishnaswamy.
India’s primary markets are on the cusp of a major milestone, with nearly Rs4 lakh crore in capital formation expected through IPOs in 2026
Gurugram-based diagnostic chain Modern Diagnostic & Research Centre will be the only IPO opening for public subscription next week on December 31.
SS Retail IPO | The company proposed to mobilise Rs 300 crore via issuance of fresh shares, while existing shareholders including promoters will offload shares worth Rs 200 crore via offer-for-sale.
Zepto has pre-filed draft IPO papers with Sebi via the confidential route to raise Rs 11,000 crore, marking a key step toward a 2026 listing.
E to E Transportation Infrastructure, Dhara Rail Projects and Apollo Techno Industries are among the SME issues currently open for public subscription in the primary market.
Gujarat Kidney shares will be listed on both NSE and BSE on December 30, following a 5.21 times subscription to its Rs 251-crore issue.
Total IPO fundraising during the year stood at around Rs 1.76 lakh crore. Of this, offer-for-sale transactions accounted for Rs 1.11 lakh crore, while fresh issuances contributed Rs 64,406 crore.
Mainboard issues continued to dominate fundraising activity in 2025, accounting for nearly 94% of the total capital raised.