Real time demand for an IPO | Retail, HNI & QIB Subscription Dashboard
Published: 13 July 2026 | 5.59 AM
Last Updated: 13 July 2026 | 12.30 PM
IPO Subscription Barometer | Today’s Subscription Analysis
🟢 Devson Catalyst SME IPO (D-3)
Exceptional demand continues with overall subscription crossing 75.03x, led by massive HNI and retail participation. Subscription momentum remains very strong and the IPO is heading towards a robust listing.
🟡 Laser Power & Infra IPO (D-3)
Overall subscription has improved to 4.57x on the final day, driven mainly by HNI investors, while QIB participation remains muted. Institutional response is below expectations, keeping listing gain expectations moderate.
🟢 Happy Steel SME IPO (D-3)
The IPO closed with 22.48x subscription, supported largely by HNI and retail investors despite limited QIB interest. Strong retail demand has significantly improved the subscription profile compared to the initial days, making the final response better than earlier trends suggested.
| Devson SME IPO | D-3 | Size Rs. 42.34 Cr | |
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| QIB | NII x | RII x | Total x | Applications |
| 11.70 | 79.23 | 112.99 | 75.03 | 63,874 |
| Outlook- Good trend on the second day of subscription | ||||
| Laser Power IPO | D-3 | | |||||
| Size Rs 742 Cr. | | |||||
| Open 09/07 Close 13/07 | |||||
| QIB | S- HNI | B HNI | HNI | RII | Total |
| 0.95 | 12.57 | 14.54 | 13.88 | 2.65 | 4.57 |
| Applications received- 424,522 Weak Subscription trend on the last day of subscription |
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| Happy Steel SME IPO | D-3 | Size Rs. 25.00 Cr | |
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| QIB | NII x | RII x | Total x | Applications |
| 4.54 | 37.64 | 16.99 | 26.25 | 22.48 |
| Outlook- Very weak subscription trend on the last day | ||||
| Kusumgar IPO | D-3 | CT | |||||
| 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 |
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| IC Electricals SME IPO | Closed | Size Rs. 47.91 Cr | |
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| 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. |
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| Teja Engineering SME IPO | Closed | Size Rs. 37.36 Cr | |
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| 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 | |
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| 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 | |
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| 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 | |
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| 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 | |
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| 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 | |
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| 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 | ||||
| Adon Agro SME IPO | Closed | Size Rs. 44.03 Cr | |
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| QIB | NII x | RII x | Total x | Applications |
| 22.47 | 1.24 | 0.63 | 1.16 | 589 |
| Outlook- Few high amount applications in QIB, has pushed up the subscription level, which otherwise is unimpressive. | ||||
| Aastha Spintex IPO | D – 3 | CT | |||||
| Size Rs 170 Cr. | | |||||
| Open 29/06 Close 1/07 | |||||
| QIB | S- HNI | B HNI | HNI | RII | Total |
| 2.33 | 5.89 | 7.72 | 7.11 | 2.17 | 4.18 |
| Applications received- 96,256 Not so impressive trend observed on the last day till now. |
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| Crazy Snacks SME IPO | D-3 | Size Rs. 94.51 Cr | |
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| QIB | NII x | RII x | Total x | Applications |
| 4.75 | 1.08 | 1.26 | 1.21 | 790 |
| Outlook- Very weak trend on the last day . With few large amount applications, the IPO could said through. | ||||
| CSM Technologies IPO | Closed | | |||||
| Size Rs 145.78 Cr. | | |||||
| Open 24/06 Close 29/06 | |||||
| QIB | S- HNI | B HNI | HNI | RII | Total |
| 1.02 | 1.33 | 1.65 | 1.54 | 1.63 | 1.37 |
| Applications received- 45,809 Not so impressive trend observed on the last day till now. |
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| Riyaasat LifeStyle SME IPO | Closed | Size Rs. 30.77 Cr | |
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| QIB | NII x | RII x | Total x | Applications |
| 20.33 | 0.09 | 0.44 | 1.32 | 312 |
| Outlook- Very weak trend on the last day of Subscription | ||||
| Jivial Industries SME IPO | Closed | Size Rs. 31.99 Cr | |
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| QIB | NII x | RII x | Total x | Applications |
| – | 1.57 | 0.22 | 0.93 | 330 |
| Outlook- Very weak trend on the second day. | ||||
| Shreedhar Spinners SME IPO | Closed | Size Rs. 30.68 Cr | |
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| QIB | NII x | RII x | Total x | Applications |
| 2.51 | 14.58 | 5.71 | 6.70 | 3,470 |
| Outlook- Very weak trend on the lastday also. | ||||
| Waterways Leisure IPO | Closed | | |||||
| Size Rs 585 Cr. | | |||||
| Open 23/06 Close 25/06 | |||||
| QIB | S- HNI | B HNI | HNI | RII | Total |
| 0.72 | 1.83 | 0.94 | 1.23 | 4.40 | 1.53 |
| Applications received- 1,15,405 Normal trend seen on Day 3 |
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| Advit Jewels IPO | Closed | | |||||
| Size Rs 165.16 Cr. | | |||||
| Open 23/06 Close 25/06 | |||||
| QIB | S- HNI | B HNI | HNI | RII | Total |
| 174.98 | 502.07 | 554.12 | 536.32 | 95.11 | 212.52 |
| Applications received- 32,02,097 Strong trend seen on Day 2 |
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| 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 |
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| Anubhav Plast SME IPO | Closed | Size Rs. 24.00 Cr | |
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| QIB | NII x | RII x | Total x | Applications |
| 1.23 | 2.49 | 2.60 | 2.18 | 919 |
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 |