Chanakya

IPO Subscription Status

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Real time demand for an IPO | Retail, HNI & QIB Subscription Dashboard
Published: 31 July 2026 | 5.59 AM
Last Updated: 31 July 2026 | 6.00 AM

📊 IPO Subscription Pulse

  • Juniper Green IPO (D-1): Subscription remained muted on Day 1 with overall bidding at 0.38x. Retail participation was particularly weak, indicating investors are awaiting stronger institutional interest before turning positive.
  • M.V. Electrosystems IPO (D-1): A strong retail response helped the issue achieve 3.87x overall subscription on Day 1. Robust HNI and retail demand reflects healthy investor confidence.
  • Oneindig SME IPO (D-1): The issue witnessed a sluggish start with overall subscription of 0.42x. Weak participation across all categories suggests investors are adopting a cautious approach.
  • Dhaval Packaging SME IPO (D-1): Subscription remained below expectations at 0.49x on the first day. Retail demand was subdued despite marginal interest from NII investors.
  • Manipal Health IPO (D-2): Overall subscription stood at 0.47x after two days. Retail participation has been relatively encouraging, while QIB and HNI investors are expected to step up closer to the closing day.
  • H.R. Hygiene SME IPO (D-2): The IPO crossed full subscription with 1.77x overall demand by Day 2. Healthy participation from QIB, NII and retail investors indicates strong market interest.
  • Poojaa Precision SME IPO (Closed): The IPO concluded with an exceptional 278.83x subscription, driven by overwhelming demand across all investor categories, making it one of the strongest SME issues in recent months.
Juniper Green IPO | D- 1 |
Size Rs 1800 Cr. |
Open  30/07 Close 3/08
QIB S- HNI B HNI HNI RII Total
1.05 0.10 0.03 0.05 0.13 0.38
Applications received- 44,375
Outlook- Very weak flow of subscriptions in Retail category on Day 1
M.V.Electrosystems IPO | D- 1 |
Size Rs 290 Cr. |
Open  30/07 Close 3/08
QIB S- HNI B HNI HNI RII Total
0.87 6.20 2.89 4.00 12.68 3.87
Applications received- 207,311
Outlook- Impressive flow of subscriptions in Retail category on Day 1
Oneindig SME IPO  | D-1 |
Size
Rs. 27.65 Cr  |
QIB NII x RII x Total x Applications
0.00 x 0.50 x 0.62 x 0.42 x 113256
Outlook- Very weak response on the first day of subscription
Dhaval Packaging SME IPO  | D-1 |
Size
Rs. 36.36 Cr  |
QIB NII x RII x Total x Applications
0.00 x 1.03 x 0.57 x 0.49 x 324
Outlook- Very weak response on the first day of subscription
Manipal Health IPO | D- 2 |
Size Rs 9275,22 Cr. |
Open  29/07 Close 31/07
QIB S- HNI B HNI HNI RII Total
0.62 0.16 0.14 0.15 0.48 0.47
Applications received- 1,74,974
Outlook- Good flow of subscriptions in Retail category on Day 2
H.R.Hygiene SME IPO  | D-2 |
Size
Rs. 53.95 Cr  |
QIB NII x RII x Total x Applications
1.01 x 2.35 x 1.99 x 1.77 x 1,509
Outlook- Strong response on the first day of subscription
Poojaa Precision SME IPO  | Closed |
Size
Rs. 159.83 Cr  |
QIB NII x RII x Total x Applications
206.46x 463.43 x 247.58 x 278.83 x 6,68,217
Outlook- Strong response on the last day of subscription
Advance Technoforge SME IPO  | Closed |
Size
Rs. 24.03 Cr  |
QIB NII x RII x Total x Applications
0.00 x 0.43 x 2.68 x 1.55 x 1,472
Outlook- Weak response on the last day of subscription
Propshop SME IPO  | Closed |
Size
Rs. 28.57 Cr  |
QIB NII x RII x Total x Applications
1.37 x 1.38 x 1.77 x 1.53 x 854
Outlook- Weak response on the last day of subscription
Silverstronm SME IPO  | Closed |
Size
Rs. 82.43 Cr  |
QIB NII x RII x Total x Applications
1.81 x 3.19 x 1.41 x 1.91 x 1821
Outlook- Weak response on the last day of subscription
Lohia Corp IPO | Closed |
Size Rs 1101.28 Cr. |
Open  23/07 Close 27/07
QIB S- HNI B HNI HNI RII Total
9.11 5.77 7.35 6.82 2.78 1.39
Applications received- 191,819
Outlook- Weal flow of subscriptions on Day 3
Indo MIM IPO | Closed |
Size Rs 3811.21 Cr. |
Open  23/07 Close 27/07
QIB S- HNI B HNI HNI RII Total
204.47 36.55 57.69 50.65 6.69 72.37
Applications received- 50,78,889
Outlook- Impressive flow of subscriptions on Day 3
Xtranet Technologies IPO | Closed |
Size Rs 166.80 Cr. |
Open  23/07 Close 27/07
QIB S- HNI B HNI HNI RII Total
7.13 26.53 26.72 26.65 8.98 12.24
Applications received- 330,065
Outlook- Normal flow of subscriptions on Day 3
Shree Balaji Mala SME IPO  | D-3 |
Size
Rs. 18.90 Cr  |
QIB NII x RII x Total x Applications
113.55 x 249.47 x 228.24 x 200.34 x 60,040
Outlook- Good response on the last day of subscription
Metalic Technoforge SME IPO  | Closed |
Size
Rs. 49.96 Cr  |
QIB NII x RII x Total x Applications
4.58 17.07 7.00 8.47 6.172
Outlook- Flow of subscriptions has slowed down on Day 2
Gulf Lloyds SME IPO  | Closed |
Size
Rs. 18.19 Cr  |
QIB NII x RII x Total x Applications
2.86 18.81 10.84 7,321
Outlook- In spite of negligible premium in the grey market, the flow is satisfactory
Caliber Mining IPO | Closed |
Size Rs 450 Cr. |
Open  17/07 Close 21/07
QIB S- HNI B HNI HNI RII Total
253.88 227.37 309.31 281.99 43.40 154.66
Applications received- 38,44,190
Outlook- Good flow of subscriptions on Day 3
Sotefin Bharat SME IPO  | Closed |
Size
Rs. 89.76 Cr  |
QIB NII x RII x Total x Applications
2.82 6.05 3.78 3.99 6,070
Outlook- Flow of subscriptions improved marginally on Day 3

SBI Fund Management IPO | Closed |
Size Rs 9812.91 Cr. |
Open  14/07 Close 16/07
QIB S- HNI B HNI HNI RII Total
140.11 15.51 26.01 22.51 3.76 41.73
Employee – 4.65x
Shareholders – 9.52 x

Applications received- 63,82,532

Millworks SME IPO  | Closed |
Size
Rs. 160.34 Cr  |
QIB NII x RII x Total x Applications
194.05 260.37 216.60 219.54 4.92.473
Outlook-strong subscription on the last day
Alpine Texworld IPO | Closed |  
Size Rs 126.25 Cr. |
Open  14/07 Close 16/07
QIB S- HNI B HNI HNI RII Total
1.09 1.48 0.90 1.09 1.54 1.40
Applications received- 76,891
Strong Subscription trend on the last day of subscription

Devson SME IPO  | Closed |
Size
Rs. 42.34 Cr  |
QIB NII x RII x Total x Applications
168.56 261.22 244.08 244.08 139,357
Outlook- Good trend on the second day of subscription
Laser Power IPO | Closed | 
Size Rs 742 Cr. |
Open  09/07 Close 13/07
QIB S- HNI B HNI HNI RII Total
97.25 36.43 50.32 45.69 6.95 41.05
Applications received- 10,53,140
Weak Subscription trend on the last day of subscription
Happy Steel SME IPO  | Closed |
Size
Rs. 25.00 Cr  |
QIB NII x RII x Total x Applications
59.01 113.60 73.25 77.81 28,384
Outlook- Very weak subscription trend on the last day
Kusumgar IPO | Closed | 
Size Rs 650 Cr. |
Open  08/07 Close 10/07
QIB S- HNI B HNI HNI RII Total
299.51 144.04 189.40 174.28 27.97 135.80
Applications received- 37.19,655
Strong Subscription trend on the last day of subscription
IC Electricals SME IPO  | Closed |
Size
Rs. 47.91 Cr  |
QIB NII x RII x Total x Applications
241.75 764.38 372.50 420.09 3,13,006
Outlook- Strong subscription trend on the last day
Knack Packaging IPO | Closed | 
Size Rs 439.50 Cr. |
Open  01/07 Close 03/07
QIB S- HNI B HNI HNI RII Total
160.22 112.09 163.11 146.64 21.09 87.17
Applications received- 19,86,651
Subscription trend improved on the last day.
Teja Engineering SME IPO  | Closed |
Size
Rs. 37.36 Cr  |
QIB NII x RII x Total x Applications
1.81 0.32 1.37 273
Outlook- Very weak subscription trend on the last day till now.
Atharva Polyplast SME IPO  | Closed |
Size Rs. 27.00 Cr  |
QIB NII x RII x Total x Applications
3.58 18.97 11.30 10.74 5202
Outlook-
Seemex Resources SME IPO  | Closed |
Size
Rs. 19.74 Cr  |
QIB NII x RII x Total x Applications
17.19 4.08 1.52 3.62 1025
Outlook- Few large amount applications from QIBs pushed up the subscription figure ,otherwise the trend is not so impressive.
Sampark India SME IPO  | Closed|
Size Rs. 27.22 Cr  |
QIB NII x RII x Total x Applications
1.55 10.11 4.65 4.95 2,110
Outlook- Not so impressive trend on the last day till now.
Vinit Mobile SME IPO  | Closed |
Size
Rs. 34.13 Cr  |
QIB NII x RII x Total x Applications
1.00 0.80 2.18 1.62 1,759
Outlook- Very weak trend on the last day till now.
Kratikal Technologies SME IPO  | Closed |
Size Rs. 39.69 Cr  |
QIB NII x RII x Total x Applications
145.85 324.64 218.48 220.71 130,220
Outlook- The IPO is crowned as Chanakya Pick and the subscription flow reflects the our IPO-review

 

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Recently Closed IPOs – Final Subscription Snapshot

IPO QIB HNI Retail Total Applications
Mehul Telecom 32.5 79.38 37.41 44.91 18,716
Om Power Transmission 3.41 6.66 1.29 3.05 36,186
Safety Controls – SME</t