The IPO has set a price band between ₹166 and ₹175 per equity share, with a minimum lot size of 85 shares. As of Day 2 of the subscription period, the IPO has garnered considerable interest, being subscribed 71% overall. The Qualified Institutional Buyers (QIB) portion has been particularly robust, subscribed 1.18 times, while the Non-Institutional Investors (NII) portion has seen a subscription of 0.38 times, and the retail portion stands at 0.58 times.

In terms of initial financial backing, Om Power Transmission has secured ₹45.01 crore from three anchor investors, including notable entities such as Craft Emerging Market Fund PCC and Morgan Stanley Asia. This early support reflects confidence in the company’s growth trajectory and market position.

As the IPO progresses, the grey market premium (GMP) for the shares has been noted at +₹2, indicating a positive sentiment among investors regarding the potential listing price. Analysts estimate that the shares may list at approximately ₹177, slightly above the upper band of the IPO price. This anticipated listing price is bolstered by the company’s promising financial performance, with revenue, EBITDA, and PAT growing at a compound annual growth rate (CAGR) of 52%, 73%, and 88%, respectively, from FY23 to FY25.

SBICAP Securities has highlighted that at the upper price band of ₹175, the issue is valued at a price-to-earnings (P/E) ratio of 27.1x based on FY25 earnings and 19.2x based on annualized 9MFY26 earnings. This valuation suggests that the IPO is competitively priced, considering the company’s strong growth metrics and market potential.

Exencial Research Partners has also weighed in, describing Om Power Transmission as a compelling investment opportunity, supported by a robust order book exceeding ₹744 crore and strong return metrics. The positive outlook is further reinforced by the company’s plans to utilize the IPO proceeds for acquiring machinery, paying down debts, and fulfilling working capital needs, which are crucial for sustaining its growth momentum.

Looking ahead, the basis of allotment for the IPO will be finalized on April 15, 2026, with refunds initiated on April 16, 2026. Shares are expected to be credited to demat accounts on the same day, with the official listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) anticipated for April 17, 2026. Investors and market analysts are closely monitoring the subscription trends and initial performance of the shares, as they could set the tone for future IPOs in the sector.

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The Amir Chand Jagdish Kumar Exports IPO has entered a critical phase as it continues its subscription process, with the latest figures reported on March 25, 2026. This ₹440 crore book-building issue consists entirely of a fresh issue of 2.08 crore shares, with a price band set between ₹201 and ₹212 per share.

As of today, the overall subscription status stands at 1.27 times, indicating a healthy interest from investors. Notably, Qualified Institutional Buyers (QIBs) have subscribed 0.58 times, while Non-Institutional Investors (NIIs) have shown robust demand, subscribing 4.82 times. However, Retail Individual Investors (RIIs) have subscribed only 0.46 times, suggesting a more cautious approach from this segment.

The lot size for an application is 46 shares, requiring a minimum investment of ₹14,840 for retail investors. The IPO is set to close on March 27, 2026, with the basis of allotment expected to be finalized by March 30, 2026. Investors are keenly awaiting the tentative listing date on the NSE and BSE, which is scheduled for April 2, 2026.

In the grey market, the IPO is currently trading at a premium of ₹7 over the IPO price, reflecting positive sentiment among traders. The company plans to utilize ₹400 crore of the proceeds towards funding its working capital requirements, which is crucial for its operational growth.

As the IPO progresses, market analysts are closely monitoring the subscription trends and investor sentiments. The strong subscription from NIIs may indicate a favorable outlook for the company, while the lower interest from RIIs could suggest potential concerns or market conditions affecting retail participation.

Overall, the Amir Chand Jagdish Kumar Exports IPO appears to be gaining traction as it heads towards its closing date, with significant participation from institutional investors. The upcoming days will be pivotal in determining the final subscription figures and the company’s market debut.

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The Powerica IPO, which opened on March 24, 2026, has raised significant concerns among investors due to its disappointing initial subscription rates. With only 1% of the issue booked on the first day, the lack of interest from both Retail Individual Investors and institutional buyers is alarming, especially as the IPO is a substantial book-building issue valued at ₹1,100 crores.

The price band for the IPO is set between ₹375 and ₹395 per share, with a minimum lot size requirement of 37 shares. Despite these attractive pricing strategies, the IPO saw a mere 0.01 times subscription from Retail Individual Investors and no subscriptions from Non-Institutional Investors and Qualified Institutional Buyers on Day 1.

In the grey market, Powerica Limited’s shares are trading at a Grey Market Premium (GMP) of ₹5, which indicates a slight positive sentiment, but this is overshadowed by the overall low subscription rates. The company, which has been a key player in the power solutions sector since 1983, is known for manufacturing and supplying diesel and gas generator sets.

Powerica plans to utilize ₹525 crores from the fresh issue to repay and prepay existing debt, which could be a strategic move to strengthen its financial position. However, the current subscription figures raise questions about investor confidence in the company’s growth prospects.

The allotment process for the IPO is expected to be finalized on March 30, 2026, with shares scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on April 2, 2026. As the subscription period continues until March 27, 2026, market watchers will be keenly observing any changes in investor sentiment.

Given the current trajectory, the future of Powerica’s IPO remains uncertain. Details remain unconfirmed regarding whether the company will adjust its strategies to boost subscriptions or if external market conditions will influence investor behavior in the coming days.

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Innovision Ltd’s initial public offering (IPO) opened for public subscription on March 10, 2026, and is set to close on March 12, 2026. The company aims to raise ₹322.84 crore through this offering, with a price band established between ₹521 and ₹548 per share.

Current Subscription Status

As of March 11, 2026, the Innovision IPO has been subscribed 12%. Within this figure, the Retail Individual Investors (RIIs) category has seen a subscription rate of 6%, while Qualified Institutional Buyers (QIBs) have shown significant interest, with a subscription rate of 96%.

GMP and Estimated Listing Price

Today, the Grey Market Premium (GMP) for the Innovision IPO stands at ₹71 per share, indicating positive investor sentiment. Analysts estimate that the stock could list at approximately ₹619 apiece, reflecting a potential gain for early investors.

Key Dates to Note

The allotment date for the Innovision IPO is scheduled for March 13, 2026, followed by the listing date on March 17, 2026. Investors are keenly awaiting these dates to understand the final subscription figures and allotment outcomes.

Innovision Ltd is based in Gurgaon and operates as an integrated facility management company. Its services span various sectors, positioning it as a key player in the facility management industry.

What Lies Ahead

As the IPO progresses, market observers are closely monitoring the subscription trends and GMP. The performance of the offering could set a precedent for future IPOs in the sector. Details remain unconfirmed regarding the final subscription rates and allotment outcomes, but the current figures suggest a strong interest from institutional investors.

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Innovision Ltd’s initial public offering (IPO) opened for public subscription on March 10, 2026, and will remain open until March 12, 2026. The company aims to raise ₹322.84 crore through this offering, with a price band set between ₹521 and ₹548 per share.

Current Subscription Status

As of March 11, 2026, the Innovision IPO has been subscribed 12%. Within this figure, the Retail Individual Investors (RIIs) category has seen a subscription rate of 6%, while Qualified Institutional Buyers (QIBs) have shown strong interest, with a subscription rate of 96%.

Details on Allotment and Listing

The allotment date for the Innovision IPO is scheduled for March 13, 2026, and the listing is expected to occur on March 17, 2026. The IPO lot size is set at 27 shares, allowing investors to participate in the offering at a manageable scale.

GMP Insights

As of today, the Grey Market Premium (GMP) for the Innovision IPO stands at ₹71 per share. This figure suggests a positive sentiment among investors, with an estimated listing price of ₹619 per share, indicating potential gains for those who secure shares in the IPO.

Innovision Ltd is a Gurgaon-based integrated facility management company, which has been positioning itself in the market with a focus on providing comprehensive solutions to its clients. The company’s IPO marks a significant step in its growth strategy and aims to enhance its operational capabilities.

What Lies Ahead

As the IPO subscription period progresses, market observers will be keenly watching the final subscription numbers and the performance of the stock upon listing. The interest shown by QIBs could indicate a strong demand for Innovision’s shares in the public market.

Details remain unconfirmed regarding any further developments or adjustments to the IPO process as it approaches its closing date. Investors are advised to stay informed as the situation evolves.

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“Rajputana Stainless Steel, valued at ~21x P/E (post issue) on FY25 earnings (at the upper band) is valued fairly in relation to its competitors,” stated Anand Rathi, highlighting the company’s positioning as it opens its IPO.

The IPO of Rajputana Stainless Ltd has opened today and will remain available for subscription until March 11, 2026. The price band for the IPO is set between ₹116 to ₹122 per share, with the company aiming to raise ₹255 crore. This includes ₹76 crore reserved for Offer for Sale (OFS) and ₹179 crore through fresh shares.

The lot size for the IPO is 110 shares, making it accessible for various investors. As of 12:42 PM on the first day of bidding, the IPO was subscribed 0.07 times overall, with the retail portion subscribed 0.03 times and the NII segment subscribed 0.20 times.

The Grey Market Premium (GMP) for the IPO today is ₹2, suggesting that investors are approaching the issue with caution. This sentiment is echoed by market analysts who note that the stainless steel industry remains cyclical and vulnerable to cheaper imports, making earnings sensitive to commodity price swings and demand cycles.

BP Wealth has recommended a ‘SUBSCRIBE’ rating for this issue, citing the company’s improving margins, diversified product portfolio, and potential growth from forward integration initiatives. They suggest a medium to long-term investment horizon for potential investors.

Rajputana Stainless, incorporated in 1991, manufactures long and flat stainless steel products used across various industries. For the six months ended September FY26, the company reported revenue of ₹501 crore and a profit after tax of ₹24.4 crore. In FY25, it posted revenue of ₹932 crore and a net profit of ₹40 crore.

The most likely date for share allocation is March 12, 2026, with the IPO proposed for listing on the BSE and NSE, expected to occur on March 16, 2026. KFin Technologies has been appointed as the official registrar of the public issue.

As the IPO progresses, market participants will be closely monitoring subscription rates and overall investor sentiment, which could influence the final outcomes of this public offering.

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“Rajputana Stainless Steel, valued at ~21x P/E (post issue) on FY25 earnings (at the upper band) is valued fairly in relation to its competitors,” stated Anand Rathi, reflecting the mixed sentiment surrounding the company’s initial public offering (IPO).

The Rajputana Stainless IPO, which opened for subscription on March 9, 2026, is priced within a band of ₹116 to ₹122 per share. The company aims to raise ₹255 crore, with ₹76 crore reserved for the Offer for Sale (OFS) and the remaining ₹179 crore to be raised through the issuance of fresh shares.

As of 12:42 PM on the first day of bidding, the public issue was subscribed 0.07 times, with the retail portion subscribed at 0.03 times. This cautious approach is further underscored by the IPO’s grey market premium, which currently stands at ₹2.

BP Wealth has recommended a ‘SUBSCRIBE’ rating for this issue, citing the company’s improving margins, diversified product portfolio, and potential growth from forward integration initiatives. They suggest a medium to long-term investment horizon for potential investors.

Adroit Financial Services noted that the company’s expansion into value-added products, such as stainless steel seamless pipes, could enhance margins and strengthen its market position.

The IPO will close on March 11, 2026, with the most likely date for share allocation set for March 12, 2026. The proposed listing date is March 16, 2026, as investors await further developments.

Rajputana Stainless was incorporated in 1991 and has established itself as a manufacturer of long and flat stainless steel products. The current IPO marks a significant step in its growth trajectory.

Details remain unconfirmed regarding the overall market response as the subscription period progresses, but the cautious sentiment among investors is evident.

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