IPO Subscription Status

Real time demand for an IPO | Retail, HNI & QIB Subscription Dashboard

Published: 23 June 2026 | 5.59 AM
Last Updated: 23 June 2026 | 7.00 PM

IPO Subscription Barometer @ 7.00 PM

Riyaasat Lifestyle SME IPO | D-4
Subscription continues to remain extremely weak with total subscription at just 0.56x and only 109 applications received so far. Unless institutional and HNI demand improves sharply, the issue may struggle to achieve full subscription.

Jivial Industries SME IPO | D-1
The IPO has witnessed a muted start with overall subscription of merely 0.07x and only 165 applications on Day 1. Investor participation remains negligible across all categories.

Shreedhar Spinners SME IPO | D-1
Despite some interest from NII investors (1.54x), overall subscription stands at only 0.54x with 255 applications. The opening day response remains below expectations.

Waterways Leisure IPO | D-1
The mainboard issue has opened on a modest note with overall subscription at 0.20x. Retail participation at1.06x is encouraging, while HNI and QIB investors are yet to make meaningful bids.

Advit Jewels IPO | D-1
Advit Jewels has emerged as the standout performer among current IPOs with overall subscription of 11.30x on Day 1. Strong HNI demand (17.31x) and healthy retail participation (11.74x) indicate robust investor interest.

Turtlemint Fintech IPO | D-3
Subscription has reached 1.24x by Day 3, supported by retail demand at 1.11x and QIB participation of 1.63x. The issue is witnessing steady but not aggressive traction.

Anubhav Plast SME IPO | D-3
Anubhav Plast continues to attract healthy investor interest with overall subscription of 2.18x. Strong participation from both retail (2.60x) and NII (2.49x) categories suggests improving momentum heading into the final phase.

Riyaasat LifeStyle SME IPO \| D-4 \| Size Rs. 30.77 Cr \|
QIB	NII x	RII x	Total x	Applications
9.28	0.03	0.14	0.56	109
Outlook- Very weak trend on the forth day also.

Jivial Industries SME IPO \| D-1 \| Size Rs. 31.99 Cr \|
QIB	NII x	RII x	Total x	Applications
0.00	0.31	0.01	0.07	165
Outlook- Very weak trend on the first day.

Shreedhar Spinners SME IPO \| D-1 \| Size Rs. 30.68 Cr \|
QIB	NII x	RII x	Total x	Applications
0.02	1.53	0.41	0.54	255
Outlook- Very weak trend on the forth day also.

Waterways Leisure IPO \| D – 1 \|
Size Rs 585 Cr. \|
Open 23/06 Close 25/06
QIB	S- HNI	B HNI	HNI	RII	Total
0.00	0.11	0.01	0.04	1.06	0.20
Applications received- 18,718 Normal trend seen on Day 1

Advit Jewels IPO \| D – 1 \|
Size Rs 165.16 Cr. \|
Open 23/06 Close 25/06
QIB	S- HNI	B HNI	HNI	RII	Total
1.04	37.01	17.31	23.86	11.74	11.30
Applications received- 371,734 Normal trend seen on Day 1

Turtel Fintech IPO \| Closed \|
Size Rs 882.67 Cr. \|
Open 19/06 Close 23/06
QIB	S- HNI	B HNI	HNI	RII	Total
1.63	0.56	0.54	0.55	1.11	1.24
Applications received- 52,935 Normal trend seen on Day 3

Anubhav Plast SME IPO \| Closed \| Size Rs. 24.00 Cr \|
QIB	NII x	RII x	Total x	Applications
1.23	2.49	2.60	2.18	919

Avience Biomedical SME IPO \| Closed \| Size Rs. 30.24 Cr \|
QIB	NII x	RII x	Total x	Applications
196.77	597.23	401.36	385.35	192,952
Outlook-

Leapfrog SME IPO \| D- 3 \| CT Size Rs. 88.51 Cr \|
QIB	NII x	RII x	Total x	Applications
20.32	5.10	0.84	2.70	4586
Outlook- Not so impressive subscription trend as compared to strong business fundamentals

Liotech Industries SME IPO \| D- 3 \| CT Size Rs. 36.02 Cr \|
QIB x	NII x	RII x	Total x	Applications
0	0.85	2.97	1.91	2,248
Outlook-

Diksha Polymers SME IPO \| D-3 \| CT Size Rs. 17.90 Cr \|
QIB x	NII x	RII x	Total x	Applications
0.00	2.63	3.14	2.88	1,519
Outlook-

Claycraft SME IPO \| D-3 \| CT Size Rs. 110.11 Cr \|
QIB x	NII x	RII x	Total x	Applications
119.19	153.95	71.76	103.06	137,459
Outlook

Horizon Reclaim SME IPO \| Closed \| Size Rs. 70.38 Cr \|
QIB	NII x	RII x	Total x	Applications
186.72	450.74	308.30	304.11	2,70,209
Outlook- The trend on the last day has been impressive

Susan Electricals SME IPO \| Closed \| Size Rs. 70.38 Cr \|
QIB	NII x	RII x	Total x	Applications
142.65	336.00	207.56	216.63	228,249
Outlook- The trend on the last day has been impressive

Utkal Speciality SME IPO \| Closed \| Size Rs. 34.54 Cr \|
QIB	NII x	RII x	Total x	Applications
1.12	0.89	2.10	1.60	1,676
Outlook- The trend on the start of the second has has marginally improved

Genxai SME IPO \| Closed \| Size Rs. 54.84 Cr \|
QIB	NII x	RII x	Total x	Applications
17.58	30.91	12.59	16.99	10,779

Hexagon IPO \| D-Closed \|
Size Rs 138.87 Cr. \|
Open 5/05 Close 9/05
QIB	S- HNI	B HNI	HNI	RII	Total
19.77	118.15	183.16	161.49	26.85	53.68
Applications received- 7,71,172 Normal trend seen on Day 3

Vahh Chemicals SME IPO \| Closed \| Size Rs. 13.45 Cr \|
QIB	NII x	RII x	Total x	Applications
–	74.08	100.18	87.17	36,344

UHM Vacation SME IPO \| Closed \| Size Rs. 36.02 Cr \|
QIB	NII x	RII x	Total x	Applications
1.00	0.86	3.86	2.36	2,636

CMR Green IPO \| Closed \|
Size Rs 630.88 Cr. \|
Open 3/05 Close 5/05
QIB	S- HNI	B HNI	HNI	RII	Total
270.46	142.61	187.21	172.35	27.08	127.07
Applications received- 33,77,379 Strong trend continued even on Day 3

Merritronics SME IPO \| Closed \| Size Rs. 70.03 Cr \|
QIB	NII x	RII x	Total x	Applications
224.91	476.59	297.67	315.36	2,88,831

SMR Jewels SME IPO \| Closed \| Size Rs. 67.23 Cr \|
QIB	NII x	RII x	Total x	Applications
5.41	1.00	0.30	1.09	410

Aureate Tradde SME IPO \| D – 2 \| Size Rs. 27.29 Cr \|
QIB	NII x	RII x	Total x	Applications
–	0.16	1.35	0.75	693

SMR Jewels SME IPO \| D-4 \| Size Rs. 67.23 Cr \|
QIB	NII x	RII x	Total x	Applications
2.35	0.05	0.15	0.33	207

Rajnandini Fashion SME IPO \| Closed \| Size Rs. 18.21 Cr \|
QIB	NII x	RII x	Total x	Applications
122.54	393.63	168.63	203.74	53,518

Harikanta Overseas SME IPO \| Closed \| Size Rs. 24.30 Cr \|
QIB	NII x	RII x	Total x	Applications
21.33	0.70	0.66	1.12	394

Yaashvi Jewellers SME IPO \| D – 3 \| CT Size Rs. 43.88 Cr \|
QIB	NII x	RII x	Total x	Applications
–	3.40	1.76	5.64	1979

M.R.Maniveni SME IPO \| D – 3 \| Closed Size Rs. 27.04 Cr \|
QIB	NII x	RII x	Total x	Applications
1.00	1.88	2.09	1.74	982

Bio Medica Laboratories SME IPO \| D – 3 \| Closed Size Rs. 52.43 Cr \|
QIB	NII x	RII x	Total x	Applications
15.94	1.30	2.92	2.26	3077

Autofurnish SME IPO \| D – 3 \| Closed Size Rs. 14.60 Cr \|
QIB	NII x	RII x	Total x	Applications
–	1.17	1.17	1.21	358

Q-Line Biotec SME IPO \| D – 3 \| Closed Size Rs. 38.38 Cr \|
QIB	NII x	RII x	Total x	Applications
123.94	145.98	71.44	102.42	235,655

Vegorama Punjabi SME IPO \| D – 3 \| Closed Size Rs. 38.38 Cr \|
QIB	NII x	RII x	Total x	Applications
26.46	63.93	27.79	35.15	18,758

Teamtech Foamword SME IPO \| Closed \| Size Rs. 50.15 Cr \|
QIB	NII x	RII x	Total x	Applications
4.28	12.79	6.10	7.01	5,250

NFP Sampoorna SME IPO \| D – 3 \| Closed Size Rs. 24.53 Cr \|
QIB	NII x	RII x	Total x	Applications
1.00	0.34	2.80	1.57	1,558

RFBL Flexipack SME IPO \| D – 3 \| Size Rs. 35.33 Cr \|
QIB	NII x	RII x	Total x	Applications
124.39	24.12	11.36	21.48	11,087

Goldline Pharmaceuticals SME IPO \| D – 3 \| Size Rs. 11.61 Cr \|
QIB	NII x	RII x	Total x	Applications
180.22	1662.04	881.15	840.74	1,66,595

Simca Advertising SME IPO \| D – 3 \| Closed Size Rs. 58.04 Cr \|
QIB	NII x	RII x	Total x	Applications
118.08	81.54	70.90	80.88	83,237
Response on Day- 3 has been impressive. Huge oversubscription anticipated.

Donot miss IPO GMP Live —Which IPO commands fancy?

Bagmane Reit IPO \| Closed
Size Rs 3405 Cr. \|
Open 9/04 Close 13/04
QIB	B HNI	S HNI	HNI	RII	Total
26.58	0.00	0.00	22.82	0.00	24.96
Applications received-201,146

Recode Studios SME IPO\| SME \| Closed Size Rs. 42.31 Cr \|
QIB	NII x	RII x	Total x	Applications
137.99	404.76	216.65	234,64	159,793
Last day subscription trend is very impressive

Value360 Communications SME IPO \| SME \| Closed Size Rs. 61.86 Cr \|
QIB	NII x	RII x	Total x	Applications
17.00	1.24	0.77	1.20	1044
Initial response is still very low

OnEMI Technology IPO \| D – 3
Size Rs 925.92 Cr. \|
Open 9/04 Close 13/04
QIB	B HNI	S HNI	HNI	RII	Total
25.97	8.59	3.53	6.91	2.13	9.95
Applications received- 1,53,474

Amba Auto Sales SME IPO \| SME \| Closed Size Rs. 61.86 Cr \|
QIB	NII x	RII x	Total x	Applications
1.75	1.47	0.70	1.19	906
Few large applications from QIBs creates strong subscription status

Adisoft Technologies SME IPO \| SME \| Closed Size Rs. 70.38 Cr \|
QIB	NII x	RII x	Total x	Applications
98.23	120.16	47.27	77.45	56,664
Few large applications from QIBs creates strong subscription status

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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	1.31	2.45	0.76	1.28	636

IPO	QIB	HNI	Retail	Total	Applications
Emiac Technologies – SME	1.02	4.96	3.74	3.22	1940
Vivid Electromech- SME	1.95	1.5	0.36	1.06	668
Amir Chand Jagdish Kumar	1.18	13.36	1.36	3.36	116,781
Powerica	4.74	0.45	0.12	1.51	21,450
Sai Parentals	1.73	2.45	0.11	1.07	7,419
Highness Microelectronics	82	362.1	185.1	193.9	60,390
Tipco Engineering – SME	3.2	2.12	0.66	1.7	474
Speciality Medicines -SME	96.2	1.87	0.83	2.26	677
Central Mine Planning	2.92	0.35	0.34	0.92	107,074
Novus Loyalty – SME	1.38	1.17	1.82	1.55	1,341
GSP Crop Science	2.66	3.14	0.42	1.64	34,978
Innovation	14.3	8.6	0.6	3.45	82,536
Apsis Infocom	100	236.6	100.2	129.3	59,345
Rajputana	2.51	2.59	0.27	1.12	22,676
Srinibas Pradan	1.13	1.57	0.69	1.13	309
Elfin Agro		2.12x	.59x	1.35x	351
Sedemac Mechatronics	8.46x	0.77x	0.20x	2.68x	34,413
Acetech Ecommerce	1.00x	1.57x	1.16x	1.14x	814
Striders Impex	2.03x	1.70x	0.78x	1.33x	450
Omnitech Engineering	3.06x	0.77x	0.35x	1.20x	37,794

Chanakya Subscription Insight

The subscription pattern of IPOs is closely linked with grey market sentiment, sectoral fancy and institutional demand.

Three elements drive IPO subscription behaviour:

Grey Market Premium (GMP)
Institutional demand (QIB subscription)
Retail investor sentiment

When GMP is strong, early retail participation increases rapidly. However, the QIB book remains the most reliable indicator of institutional confidence.

In volatile markets, retail investors typically wait until the last day before applying.

This page tracks live IPO subscription trends across mainboard and SME IPOs, including QIB, HNI and retail participation along with application data and editorial interpretation of market sentiment. Investors tracking IPO GMP, subscription trends, allotment status and listing expectations can check the latest updates below.