December 10, 2025
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Chanakya Subscription Barometer
Chanakya Subscription Barometer is your daily, data-driven pulse check on how India’s IPO market is truly behaving beneath the surface. We do not just report subscription numbers — we decode investor psychology, QIB timing behaviour, HNI leverage patterns, retail momentum, and emerging grey-market signals. Each analysis blends hard data with Chanakya’s three-decade expertise to reveal whether an IPO is institutionally backed, operator-supported, or retail-driven hype.
This proprietary Barometer helps serious investors understand real demand, real sentiment, and real listing expectations — beyond the headline numbers.
Daily IPO Demand & Sentiment Tracker
Updated at 8.00 PM 10 December 2025
1) Corona Remedies Ltd — Day-3 End
Over-subscription: QIB 293.8× | NII 220.18× | RII 30.39×
GMP Trend: 257 → 315 (High) → 245 → 315 Close
Chanakya Insight:
Corona Remedies is a QIB–NII powerhouse. An unusually high average application size of Rs. 2.96 lakh indicates aggressive HNI and institutional bidding. RII subscription is modest and clearly not the driver here. Despite Day-3 frenzy, GMP behaviour shows an operator-driven spike (315) but volatility (low of 245) indicates fear of oversupply.
Barometer: QIB + NII dominated rally; retail not contributing meaningfully. GMP upside but unstable.
2) Wakefit Ltd — Day-3 End
Over-subscription: QIB 3.04× | NII 1.05× | RII 3.17×
GMP Trend: 5 → 2 → 0 → 0 Close
Chanakya Insight:
Wakefit is a retail-supported IPO. RII has subscribed higher than NII and QIB interest is muted but improving. Per-application amount at Rs. 1.18 lakh shows small, retail-heavy participation. GMP collapsing to zero by close signals no operator fancy, and listing gains look unlikely unless QIBs surge on last day (which is still possible).
Barometer: Retail-driven IPO; operator sentiment weak; wait-and-watch mode for QIB impact.
3) Nephrocare Ltd — Day-1 End
Over-subscription: QIB 0× | NII 0.10× | RII 0.21×
GMP Trend: Flat at 0 throughout
Chanakya Insight:
Early subscription shows no institutional support and very mild retail interest. Per-application amount only Rs. 22,955, indicating small-ticket participation by defensive investors. Completely absent GMP suggests no grey-market discovery yet; operators avoiding the counter.
Barometer: Muted start; needs strong QIBs on Day-3 to revive interest. As of now, cold & directionless.
4) Park Hospitals Ltd — Day-1 End
Over-subscription: QIB 0.28× | NII 0.70× | RII 0.67×
GMP Trend: 26 → 26 → 22 → 22 Close
Chanakya Insight:
Park Hospitals shows a balanced early trend, with NII > RII > QIB. Small-ticket retail participation (Rs. 29,080 per application) shows a healthy retail base. GMP decline from 26 to 22 signals cooling momentum but still indicates reasonable listing scope.
Barometer: Broad-based but still retail + HNI driven; QIBs expected to determine final sentiment.
🔥 Chanakya Verdict – Subscription Trend Summary
| IPO | Barometer Verdict | Driver | GMP Mood |
|---|---|---|---|
| Corona Remedies | QIB–NII dominated | Institutional + HNI | High but volatile |
| Wakefit | Retail supported | RII | Weak, collapsed to zero |
| Nephrocare | No traction yet | None | No GMP |
| Park Hospitals | Balanced early trend | NII + RII | Cooling but positive |
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