IPO Apply Engine

Every call this engine has made and how it turned out, then the issues open now. One question throughout: will this issue list above its offer price. 887 mainboard issues scored, weights fitted only on issues that listed before January 2025, and every figure below measured by refitting the engine quarterly through history and scoring only what came next.

Built 27 Sep 2026, 13:26. Separation on the live book: +53 points of hit rate between the top and bottom third.

The frozen record

written down before the issue listed, never edited

What the record says so far

Ranked by score, the top half listed up 67% of the time at a median of +27.6%, the bottom half 100% at +5.3%. Rank correlation between score and gain is +0.077. The ordering is not holding. On this sample the engine has not sorted these issues, and three of the resolved calls were made by the mainboard engine on SME issues, which was a defect corrected on 20 September. Those calls stand as they were made.

Too few to judge

12 resolved calls cannot confirm or refute an engine. The bar before any of this is claimed in public is 30 to 50, which is about eight to twelve weeks of listings. 50 more calls are on record and waiting for their issues to list.
IssueBoardCalledListedFrozen on
Skyways Air Services Ltd.mainboard62.9-9.0%2026-08-28
ESDS Software Solution Ltd.mainboard59.1+111.8%2026-08-28
Annu Projects Ltd.mainboard49.7-23.6%2026-08-28
Priority Jewels Ltd.mainboard47.7+20.8%2026-08-28
Lumino Industries Ltd.mainboard47.3+34.5%2026-08-28
Hy-Tech Engineers Ltd.mainboard43.9+48.6%2026-08-28
SpectraA Technology Solutions Ltd.sme40.1+99.5%2026-09-20
National Stock Exchange of India Ltd.mainboard29.3+1.9%2026-09-20
Sonaselection India Ltd.mainboard28.3+8.5%2026-09-20
Kheria Autocomp Ltd.sme23.8+2.0%2026-09-20
Axiom Gas Engineering Ltd.sme23.1+0.1%2026-09-20
Symbiotec Pharmalab Ltd.mainboard16.2+11.1%2026-08-28

Negative control

Run the shipped engine against listing gains shuffled within each year and it returns +5.7 points of separation and a mean IC of -0.001, against +52.8 points and +0.624 on the real outcomes. The pipeline is not manufacturing signal.

SME has its own engine

Fitted separately on 1,408 SME issues, because cheapness works there and is inverted on mainboard. Point in time: +34.2 points of separation, 93.5 percent of the top fifth listed up, mean IC +0.458, positive in every year tested.

Point in time record

quarterly refits 2010 to 2026, never using anything later
EngineIssuesSeparationMean IC
Live book, V3 as shipped656+52.8pp+0.624
Pre-book, V3 as shipped668+38.3pp+0.370

Weighting rules tested

same fits, same target
RuleIssuesSeparationTop fifth listed upMean IC
Gap weights, every positive feature590+39.3pp94.9%+0.322
Rank IC weights586+42.1pp97.4%+0.314
Equal weights (breadth only)598+29.6pp84.9%+0.258
Gap weights, top 30 features588+39.3pp96.6%+0.318
Gap weights, demand capped at 25600+35.0pp93.3%+0.306
Signed IC, with offer structure603+29.4pp87.5%+0.362
Negative control, shuffled outcomes593+4.1pp69.5%+0.015

What this settles

Equal weighting loses 10 points of separation, so the weights carry information. Capping demand costs separation, so its weight is earned. The top 30 features match all 65, so the tail is decoration. The negative control lands near zero, which is what makes the rest of the table meaningful.

Does it only work in a boom

EraIssuesSeparationTop fifth listed upMean IC
2010 to 2016, cold and thin96+15.6pp68.4%+0.131
2017 to 2020, mixed93+6.5pp55.6%+0.043
2021 to 2026, the boom395+51.9pp100.0%+0.598

Which market the record came from

every listing year with eight or more issues

A score ranks an issue against its peers. It cannot lift a bad year. Across all 864 issues with an outcome, 68% listed above their offer price, but the year to year range runs from 50 to 85 percent, and most of the sample sits in the strong years after 2020.

YearIssuesListed upMedian gainFell over 10%
20066861.8%+4.8%12%
20076965.2%+12.7%12%
20082850.0%-1.8%25%
20091163.6%+2.1%18%
20105164.7%+7.3%18%
20112650.0%-0.6%42%
2012955.6%+6.4%11%
20151758.8%+6.4%12%
20162576.0%+14.9%12%
20173868.4%+3.2%3%
20182454.2%+0.0%17%
20191770.6%+4.9%0%
20201675.0%+16.3%6%
20216669.7%+16.4%8%
20223961.5%+5.8%10%
20236085.0%+19.3%0%
20249377.4%+20.9%4%
202510868.5%+5.1%6%
20268970.8%+6.7%10%

The call, 57 issues open or coming

highest score first
73 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Robokidz Eduventures Ltd.

closes September 23, 2026SME board

Issues scoring 51 to 78 listed above their offer price 94 percent of the time, with a typical gain of +68.3%. 2% fell more than 10%.

Less 3.9 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 584.47 times, as of Sep 23, 2026 18:54. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 4 past issues share its sector (Learning), too few for a base rate.

+0.0Grey market premium was +61% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1000 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. The grey market premium before bidding closed leads.

What is pushing this score up

+4.6The grey market premium before bidding closed, against the issue price is 61.32, better than 94% of recent issues
+4.3The highest grey market premium seen before bidding closed is 61.32, better than 94% of recent issues
+4.1How many times the whole issue was subscribed is 584.47, better than 99% of recent issues
+4.1Share of the company tradable on listing day is 17.89, better than 100% of recent issues

What is pulling it down

-0.6The company is making its own inputs instead of buying them is 0, better than 0% of recent issues
-0.4The company is adding capacity is 0, better than 0% of recent issues
-0.4The company replaces something India currently imports is 0, better than 0% of recent issues

These are the largest movers of 85 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 85 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for ROBOKIDZ, stamped Sep 23, 2026 18:54. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, ipowatch, multibagg, 33 quotes across 10 days, last read 2026-09-23. Where two sources quote the same day the median is used, and they differed by 14 on the last day.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

72 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Roopa Screen Ltd.

closes September 28, 2026SME board

Issues scoring 50 to 76 listed above their offer price 94 percent of the time, with a typical gain of +62.8%. 2% fell more than 10%.

Less 3.8 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 5.35 times, as of Sep 25, 2026 17:07. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 60 past issues in Engineering, Automation, Machinery, 80% listed up at a median of +15.5%.

+0.0Grey market premium was +36% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 8 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+4.6Share of the company tradable on listing day is 17.7, better than 100% of recent issues
+4.2The grey market premium before bidding closed, against the issue price is 35.94, better than 86% of recent issues
+3.6The highest grey market premium seen before bidding closed is 35.94, better than 83% of recent issues
+2.4Company value including debt, per rupee of operating profit is 7.79, better than 97% of recent issues

What is pulling it down

-1.7How much of the money going to sellers is the promoter's is 0, better than 0% of recent issues
-0.4How many clients the prospectus names is 0, better than 0% of recent issues
-0.4Revenue growth per year over three years is 19.65, better than 36% of recent issues

These are the largest movers of 83 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 83 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for ROOPA, stamped Sep 25, 2026 17:07. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 27 quotes across 7 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 18 on the last day.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

66 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

SS Retail Ltd.

closes September 18, 2026Mainboard

Issues scoring 59 to 82 listed above their offer price 99 percent of the time, with a typical gain of +39.6%. 0% fell more than 10%.

Less 5.2 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 71.33 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 68% of the 81 mainboard issues that have listed came in above their offer price, at a median of +6.5%. Among the 9 past issues in Retail, Mobile, 89% listed up at a median of +10.3%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 22 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How IPOs selling into the same end markets listed over the past six months leads.

What is pushing this score up

+2.6How IPOs selling into the same end markets listed over the past six months is 36.29, better than 99% of recent issues
+2.6How many times the institutional portion was subscribed is 138.61, better than 88% of recent issues
+2.4How many times the issue was subscribed, from the registrar's allotment record is 76.61, better than 88% of recent issues
+2.4How many times the whole issue was subscribed is 71.33, better than 85% of recent issues

What is pulling it down

-0.8How many times the employee portion was subscribed is 2.1, better than 32% of recent issues
-0.5The company has foreign currency exposure is 0, better than 0% of recent issues
-0.5How many growth triggers the prospectus describes is 3, better than 5% of recent issues

These are the largest movers of 95 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 95 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for SSRETAIL, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketipowatch, multibagg, 24 quotes across 9 days, last read 2026-09-18. Where two sources quote the same day the median is used, and they differed by 5 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

65 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

SpectraA Technology Solutions Ltd.

closes September 21, 2026SME board

Issues scoring 51 to 78 listed above their offer price 94 percent of the time, with a typical gain of +68.3%. 2% fell more than 10%.

Less 3.8 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.00 times. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 60 past issues in Engineering, Automation, Machinery, 80% listed up at a median of +15.5%.

+0.0Grey market premium was +38% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+4.6Share of the company tradable on listing day is 17.95, better than 100% of recent issues
+4.2The grey market premium before bidding closed, against the issue price is 38.14, better than 86% of recent issues
+4.0The highest grey market premium seen before bidding closed is 42.37, better than 86% of recent issues
+1.9Size of the issue compared with a year's profit is 3.49, better than 90% of recent issues

What is pulling it down

-1.1Revenue growth per year over three years is 7.2, better than 14% of recent issues
-0.7The company is making its own inputs instead of buying them is 0, better than 0% of recent issues
-0.5The company depends on a few large customers is 0, better than 0% of recent issues

These are the largest movers of 75 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 75 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketipowatch, multibagg, 27 quotes across 11 days, last read 2026-09-21. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

61 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

Adroit Industries (India) Ltd.

closes September 25, 2026Mainboard

Issues scoring 59 to 82 listed above their offer price 99 percent of the time, with a typical gain of +39.6%. 0% fell more than 10%.

Less 10.3 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 121.54 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 26 past issues in Precision, Engineering, Auto, 69% listed up at a median of +7.8%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 50 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How many times the whole issue was subscribed leads.

What is pushing this score up

+3.2How many times the whole issue was subscribed is 121.54, better than 95% of recent issues
+3.0How many times the small wealthy individual portion was subscribed is 190.06, better than 96% of recent issues
+2.9How many times the large wealthy individual portion was subscribed is 252.96, better than 95% of recent issues
+2.9How many times the wealthy individual portion was subscribed is 231.99, better than 96% of recent issues

What is pulling it down

-0.5Share of the money going into working capital is 0, better than 0% of recent issues
-0.4Revenue growth in the most recent year is 4.71, better than 16% of recent issues
-0.4Revenue growth per year over three years is 6.93, better than 16% of recent issues

These are the largest movers of 90 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 90 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for ADROITIND, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 29 quotes across 8 days, last read 2026-09-25. Where two sources quote the same day the median is used, and they differed by 3 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

60 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

Jindal Supreme (India) Ltd.

closes September 18, 2026Mainboard

Issues scoring 59 to 82 listed above their offer price 99 percent of the time, with a typical gain of +39.6%. 0% fell more than 10%.

Less 11.7 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 125.10 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 68% of the 81 mainboard issues that have listed came in above their offer price, at a median of +6.5%. Among the 23 past issues in Tubes, Steel, Wires, 78% listed up at a median of +22.9%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 71 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How many times the whole issue was subscribed leads.

What is pushing this score up

+3.3How many times the whole issue was subscribed is 125.1, better than 97% of recent issues
+3.1How many times the issue was subscribed, from the registrar's allotment record is 126.05, better than 98% of recent issues
+3.0How many times the small wealthy individual portion was subscribed is 251.28, better than 98% of recent issues
+2.9How many times the wealthy individual portion was subscribed is 252.62, better than 97% of recent issues

What is pulling it down

-0.5How much keener institutions were than retail is 1.22, better than 23% of recent issues
-0.5Profit earned on all capital used in the business is 6.14, better than 10% of recent issues
-0.5Revenue growth per year over three years is 1.91, better than 6% of recent issues

These are the largest movers of 93 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 93 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for JSIPL, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketipowatch, multibagg, 26 quotes across 10 days, last read 2026-09-18. Where two sources quote the same day the median is used, and they differed by 2 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

59 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Bench Mark Infotech Services Ltd.

closes September 29, 2026SME board

Issues scoring 50 to 76 listed above their offer price 94 percent of the time, with a typical gain of +62.8%. 2% fell more than 10%.

Less 4.7 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.26 times, as of Sep 25, 2026 18:54. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 37 past issues in Infotech, Tech, Information, 76% listed up at a median of +10.5%.

+0.0Grey market premium was +15% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+5.0Share of the company tradable on listing day is 17.99, better than 100% of recent issues
+2.7How often the lead manager's earlier issues listed above their price is 95.2, better than 89% of recent issues
+2.4Median listing gain of the lead manager's earlier issues is 44.2, better than 82% of recent issues
+1.6Size of the issue compared with a year's profit is 3.94, better than 81% of recent issues

What is pulling it down

-1.2How much of the money going to sellers is the promoter's is 99.7, better than 17% of recent issues
-1.0The highest grey market premium seen before bidding closed is 14.55, better than 42% of recent issues
-0.5Share of the anchor book taken by names that anchor many SME issues is 16.83, better than 10% of recent issues

These are the largest movers of 76 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 76 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for BMISL, stamped Sep 25, 2026 18:54. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 30 quotes across 8 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 4 on the last day.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

53 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

Moneyview Ltd.

closes September 28, 2026Mainboard

Issues scoring 48 to 76 listed above their offer price 92 percent of the time, with a typical gain of +36.3%. 1% fell more than 10%.

Less 4.2 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 4.73 times, as of 25-Sep-2026 17:00:52. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 9 past issues in Fintech, 56% listed up at a median of +1.8%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 3 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. The grey market premium before bidding closed leads.

What is pushing this score up

+6.8The grey market premium before bidding closed, against the issue price is 41.18, better than 94% of recent issues
+5.2The highest grey market premium seen before bidding closed is 41.18, better than 88% of recent issues
+2.0How much of its peak the grey market premium kept by the close is 1, better than 68% of recent issues
+1.8How many grey market quotes were captured before bidding closed is 30, better than 95% of recent issues

What is pulling it down

-1.6Profit earned on shareholders' money is 7.49, better than 12% of recent issues
-1.2Revenue growth in the most recent year is -68.71, better than 0% of recent issues
-1.0Share of the money going into working capital is 0, better than 0% of recent issues

These are the largest movers of 83 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 83 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for MONEYVIEW, stamped 25-Sep-2026 17:00:52. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 30 quotes across 7 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 1 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

47 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

EverestIMS Technologies Ltd.

closes October 5, 2026SME board

Issues scoring 41 to 49 listed above their offer price 86 percent of the time, with a typical gain of +27.6%. 5% fell more than 10%.

Less 1.5 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 8 past issues in Tech, 75% listed up at a median of +12.8%.

+0.0Grey market premium was +9% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. How often the lead manager's earlier issues listed above their price leads.

What is pushing this score up

+3.0How often the lead manager's earlier issues listed above their price is 100, better than 96% of recent issues
+2.4Company value including debt, per rupee of operating profit is 7.88, better than 97% of recent issues
+1.9Size of the issue compared with a year's profit is 3.5, better than 90% of recent issues
+1.2Price paid per rupee of profit is 14, better than 74% of recent issues

What is pulling it down

-3.0The highest grey market premium seen before bidding closed is 9.41, better than 23% of recent issues
-2.3Price paid per rupee of profit, per point of yearly profit growth is 1.38, better than 3% of recent issues
-1.4The grey market premium before bidding closed, against the issue price is 9.41, better than 38% of recent issues

These are the largest movers of 82 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 82 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 15 quotes across 5 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

45 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

SRIT India Ltd.

closes September 30, 2026Mainboard

Issues scoring 39 to 48 listed above their offer price 93 percent of the time, with a typical gain of +23.3%. 0% fell more than 10%.

Less 9.2 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.00 times, as of -. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 11 past issues in Tech, Software, Analytics, 64% listed up at a median of +7.7%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.
Why this score, 7 reasons. The grey market premium before bidding closed leads.

What is pushing this score up

+2.7The grey market premium before bidding closed, against the issue price is 24.62, better than 69% of recent issues
+1.8The highest grey market premium seen before bidding closed is 24.62, better than 64% of recent issues
+1.5How IPOs selling into the same end markets listed over the past six months is 10.04, better than 76% of recent issues
+1.2How much of its peak the grey market premium kept by the close is 1, better than 62% of recent issues

What is pulling it down

-1.0How well IPOs in the same sector listed over the past year is -5.44, better than 10% of recent issues
-0.8Profit growth per year over three years is 22.01, better than 27% of recent issues
-0.7Price paid per rupee of book value, after the issue is 3.19, better than 23% of recent issues

These are the largest movers of 90 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 5 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 90 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for SRIT, stamped -. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 21 quotes across 5 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 2 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

44 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

FX Multitech Ltd.

closes September 23, 2026SME board

Issues scoring 41 to 51 listed above their offer price 90 percent of the time, with a typical gain of +28.2%. 4% fell more than 10%.

Less 5.1 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 17.72 times, as of Sep 23, 2026 18:53. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 42 past issues in Exim, Retail, 76% listed up at a median of +2.4%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 11 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+3.8Share of the company tradable on listing day is 18.11, better than 100% of recent issues
+2.4How often the lead manager's earlier issues listed above their price is 100, better than 96% of recent issues
+1.6Company value including debt, per rupee of operating profit is 9.55, better than 87% of recent issues
+1.4Size of the issue compared with a year's profit is 3.64, better than 86% of recent issues

What is pulling it down

-4.9The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-4.6The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-0.5Profit earned on shareholders' money is 31.14, better than 27% of recent issues

These are the largest movers of 91 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 91 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for FXML, stamped Sep 23, 2026 18:53. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipopremium, ipowatch, multibagg, 20 quotes across 9 days, last read 2026-09-23. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

43 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

Manika Plastech Ltd.

closes September 16, 2026Mainboard

Issues scoring 34 to 46 listed above their offer price 70 percent of the time, with a typical gain of +5.8%. 6% fell more than 10%.

Less 10.7 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 22.21 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 68% of the 80 mainboard issues that have listed came in above their offer price, at a median of +6.6%. Only 5 past issues share its sector (Pipes, Polymers, Fittings), too few for a base rate.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 14 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. The highest grey market premium seen before bidding closed leads.

What is pushing this score up

+2.8The highest grey market premium seen before bidding closed is 46.51, better than 95% of recent issues
+1.9How IPOs selling into the same end markets listed over the past six months is 10.12, better than 84% of recent issues
+1.4How many times the large wealthy individual portion was subscribed is 61.31, better than 71% of recent issues
+1.4How many times the retail portion was subscribed is 15.77, better than 73% of recent issues

What is pulling it down

-2.0How much of its peak the grey market premium kept by the close is 0.17, better than 10% of recent issues
-0.8How much keener institutions were than retail is 0.62, better than 12% of recent issues
-0.5Profit earned on all capital used in the business is 8.34, better than 11% of recent issues

These are the largest movers of 90 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 90 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for MANIKA, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketipowatch, multibagg, 15 quotes across 10 days, last read 2026-09-16. Where two sources quote the same day the median is used, and they differed by 3 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

42 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Peshwa Wheat Ltd.

closes September 28, 2026SME board

Issues scoring 41 to 49 listed above their offer price 86 percent of the time, with a typical gain of +27.6%. 5% fell more than 10%.

Less 3.3 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 2.03 times, as of Sep 25, 2026 17:07. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 38 past issues in Seeds, Foods, Agro, 68% listed up at a median of +3.1%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Size of the issue compared with a year's profit leads.

What is pushing this score up

+2.4Size of the issue compared with a year's profit is 3.2, better than 95% of recent issues
+2.1Price paid per rupee of profit is 12.15, better than 89% of recent issues
+2.1Company value including debt, per rupee of operating profit is 9.5, better than 87% of recent issues
+1.4Price paid per rupee of profit, per point of yearly profit growth is 0.16, better than 77% of recent issues

What is pulling it down

-6.5The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-6.1The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.8How much of the money going to sellers is the promoter's is 0, better than 0% of recent issues

These are the largest movers of 76 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 76 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for PESHWA, stamped Sep 25, 2026 17:07. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipopremium, multibagg, 23 quotes across 7 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

42 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Vans Electroengineerings Ltd.

closes October 1, 2026SME board

Issues scoring 41 to 49 listed above their offer price 86 percent of the time, with a typical gain of +27.6%. 5% fell more than 10%.

Less 3.2 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 10 past issues in Engineering, Transformers, Power, 100% listed up at a median of +32.1%.

+0.0Grey market premium was +15% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. How often the lead manager's earlier issues listed above their price leads.

What is pushing this score up

+1.4How often the lead manager's earlier issues listed above their price is 90.4, better than 69% of recent issues
+1.3Profit earned on shareholders' money is 83.24, better than 93% of recent issues
+1.1Median listing gain of the lead manager's earlier issues is 29.3, better than 64% of recent issues
+1.1Profit as a share of revenue is 23.24, better than 92% of recent issues

What is pulling it down

-2.2Company value including debt, per rupee of operating profit is 18.11, better than 12% of recent issues
-1.9How much of the money going to sellers is the promoter's is 0, better than 0% of recent issues
-1.9Price paid per rupee of profit is 23.84, better than 16% of recent issues

These are the largest movers of 72 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 72 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 12 quotes across 4 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

42 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

A-One Steels India Ltd.

closes September 28, 2026Mainboard

Issues scoring 39 to 48 listed above their offer price 93 percent of the time, with a typical gain of +23.3%. 0% fell more than 10%.

Less 4.1 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.99 times, as of 25-Sep-2026 17:00:52. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 24 past issues in Tubes, Steel, Wires, 79% listed up at a median of +25.1%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How many grey market quotes were captured before bidding closed leads.

What is pushing this score up

+1.8How many grey market quotes were captured before bidding closed is 46, better than 100% of recent issues
+1.1How IPOs selling into the same end markets listed over the past six months is 8.19, better than 70% of recent issues
+0.9The grey market premium before bidding closed, against the issue price is 13.83, better than 56% of recent issues
+0.8Profit growth per year over three years is 80.96, better than 74% of recent issues

What is pulling it down

-0.9Revenue growth per year over three years is 4.3, better than 7% of recent issues
-0.9Share of revenue from the five largest customers is 2.44, better than 0% of recent issues
-0.9Share of the money going into working capital is 0, better than 0% of recent issues

These are the largest movers of 93 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 93 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for AONESTEELS, stamped 25-Sep-2026 17:00:52. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 46 quotes across 15 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 4 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

40 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Black Opal Consultants Ltd.

closes October 1, 2026SME board

Issues scoring 33 to 41 listed above their offer price 77 percent of the time, with a typical gain of +10.2%. 8% fell more than 10%.

Less 3.1 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 25 past issues in Developers, Realty, Infra, 80% listed up at a median of +3.1%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Price paid per rupee of book value leads.

What is pushing this score up

+1.2Price paid per rupee of book value, after the issue is 0.8, better than 98% of recent issues
+1.1Profit as a share of revenue is 28.81, better than 97% of recent issues
+1.1Price paid per rupee of profit against the median of listed peers is -64.9, better than 74% of recent issues
+1.1Size of the issue compared with a year's profit is 4.29, better than 70% of recent issues

What is pulling it down

-6.3The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.9The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.5Share of the company tradable on listing day is 25.11, better than 35% of recent issues

These are the largest movers of 78 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 78 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 16 quotes across 5 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

39 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

Orient Cables (India) Ltd.

closes September 29, 2026Mainboard

Issues scoring 33 to 39 listed above their offer price 72 percent of the time, with a typical gain of +10.6%. 7% fell more than 10%.

Less 4.9 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.32 times, as of 25-Sep-2026 17:00:52. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Only 2 past issues share its sector (mixed), too few for a base rate.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. The grey market premium before bidding closed leads.

What is pushing this score up

+4.3The grey market premium before bidding closed, against the issue price is 33.09, better than 80% of recent issues
+3.6The highest grey market premium seen before bidding closed is 33.09, better than 78% of recent issues
+1.9How IPOs selling into the same end markets listed over the past six months is 10.75, better than 84% of recent issues
+1.3How much of its peak the grey market premium kept by the close is 1, better than 63% of recent issues

What is pulling it down

-1.0Profit growth per year over three years is 15.61, better than 21% of recent issues
-0.9Profit earned on all capital used in the business is 10.36, better than 16% of recent issues
-0.9Share of the money going into working capital is 0, better than 0% of recent issues

These are the largest movers of 91 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 91 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for ORIENTCABL, stamped 25-Sep-2026 17:00:52. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 24 quotes across 6 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 5 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

39 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Dove Soft Ltd.

closes October 5, 2026SME board

Issues scoring 33 to 41 listed above their offer price 77 percent of the time, with a typical gain of +10.2%. 8% fell more than 10%.

Less 1.5 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 8 past issues in Tech, 75% listed up at a median of +12.8%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Size of the issue compared with a year's profit leads.

What is pushing this score up

+2.3Size of the issue compared with a year's profit is 2.97, better than 98% of recent issues
+2.2Company value including debt, per rupee of operating profit is 8.45, better than 94% of recent issues
+2.0Price paid per rupee of profit is 11.56, better than 91% of recent issues
+0.8Revenue growth per year over three years is 51.44, better than 77% of recent issues

What is pulling it down

-5.9The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.5The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.5How often the lead manager's earlier issues listed above their price is 68.4, better than 27% of recent issues

These are the largest movers of 84 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 84 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 13 quotes across 4 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

38 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

Runwal Enterprises Ltd.

closes September 29, 2026Mainboard

Issues scoring 33 to 39 listed above their offer price 72 percent of the time, with a typical gain of +10.6%. 7% fell more than 10%.

Less 2.4 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.24 times, as of 25-Sep-2026 17:00:52. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Only 0 past issues share its sector (mixed), too few for a base rate.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How IPOs selling into the same end markets listed over the past six months leads.

What is pushing this score up

+1.4How IPOs selling into the same end markets listed over the past six months is 9.16, better than 73% of recent issues
+1.1How many grey market quotes were captured before bidding closed is 24, better than 77% of recent issues
+1.1Revenue growth in the most recent year is 76.15, better than 96% of recent issues
+0.3Profit earned on shareholders' money is 30.35, better than 59% of recent issues

What is pulling it down

-2.2How much of its peak the grey market premium kept by the close is 0.58, better than 30% of recent issues
-1.9The highest grey market premium seen before bidding closed is 8.2, better than 36% of recent issues
-1.6The grey market premium before bidding closed, against the issue price is 4.75, better than 39% of recent issues

These are the largest movers of 84 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 84 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for RUNWALENTR, stamped 25-Sep-2026 17:00:52. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 24 quotes across 6 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 2 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

36 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

National Stock Exchange of India Ltd.

closes September 21, 2026Mainboard

Issues scoring 34 to 46 listed above their offer price 70 percent of the time, with a typical gain of +5.8%. 6% fell more than 10%.

Demand so far 3.80 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 69% of the 84 mainboard issues that have listed came in above their offer price, at a median of +7.0%. Only 3 past issues share its sector (Exchange), too few for a base rate.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How many grey market quotes were captured before bidding closed leads.

What is pushing this score up

+0.9How many grey market quotes were captured before bidding closed is 44, better than 100% of recent issues
+0.4Profit as a share of revenue is 55.05, better than 98% of recent issues
+0.4Price paid per rupee of book value, after the issue is 12.54, better than 82% of recent issues
+0.4How much keener institutions were than retail is 7.29, better than 68% of recent issues

What is pulling it down

-1.9How much of its peak the grey market premium kept by the close is 0.18, better than 11% of recent issues
-1.8The grey market premium before bidding closed, against the issue price is 3.11, better than 23% of recent issues
-1.4How many times the retail portion was subscribed is 1.06, better than 26% of recent issues

These are the largest movers of 92 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 92 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for NSE, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketipowatch, multibagg, 44 quotes across 18 days, last read 2026-09-21. Where two sources quote the same day the median is used, and they differed by 11 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

36 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Pooja Logistics Ltd.

closes September 25, 2026SME board

Issues scoring 34 to 41 listed above their offer price 76 percent of the time, with a typical gain of +9.7%. 9% fell more than 10%.

Less 4.5 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 3.11 times, as of Sep 25, 2026 18:55. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 49 past issues in Logistics, Supply, Chain, 78% listed up at a median of +7.8%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 2 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+3.5Share of the company tradable on listing day is 18.1, better than 100% of recent issues
+1.8Company value including debt, per rupee of operating profit is 7.45, better than 97% of recent issues
+1.5Size of the issue compared with a year's profit is 3.4, better than 91% of recent issues
+1.1Price paid per rupee of profit is 13.31, better than 80% of recent issues

What is pulling it down

-4.5The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-4.2The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.3Price paid per rupee of profit against the median of listed peers is 41, better than 9% of recent issues

These are the largest movers of 100 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 100 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for POOJALOGIS, stamped Sep 25, 2026 18:55. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, multibagg, 20 quotes across 8 days, last read 2026-09-25. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

36 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

Acevector Ltd.

closes September 29, 2026Mainboard

Issues scoring 33 to 39 listed above their offer price 72 percent of the time, with a typical gain of +10.6%. 7% fell more than 10%.

Less 6.1 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.18 times, as of 25-Sep-2026 17:00:52. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 9 past issues in Commerce, Ventures, 89% listed up at a median of +46.0%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How well IPOs in the same sector listed over the past year leads.

What is pushing this score up

+1.2How well IPOs in the same sector listed over the past year is 32.24, better than 98% of recent issues
+1.2How many grey market quotes were captured before bidding closed is 24, better than 80% of recent issues
+1.1Price paid per rupee of book value, after the issue is 14.48, better than 93% of recent issues
+0.9How IPOs selling into the same end markets listed over the past six months is 7.64, better than 65% of recent issues

What is pulling it down

-2.4The highest grey market premium seen before bidding closed is 7.81, better than 32% of recent issues
-2.0Profit earned on shareholders' money is -39.85, better than 0% of recent issues
-1.0Share of the money going into working capital is 0, better than 0% of recent issues

These are the largest movers of 85 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 85 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for ACEVECTOR, stamped 25-Sep-2026 17:00:52. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 24 quotes across 6 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 1 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

34 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

German Green Steel \u0026 Power Ltd.

closes September 29, 2026Mainboard

Issues scoring 33 to 39 listed above their offer price 72 percent of the time, with a typical gain of +10.6%. 7% fell more than 10%.

Less 13.0 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.48 times, as of 25-Sep-2026 17:00:52. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Only 2 past issues share its sector (mixed), too few for a base rate.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. The grey market premium before bidding closed leads.

What is pushing this score up

+2.4The grey market premium before bidding closed, against the issue price is 19.78, better than 66% of recent issues
+1.2How much of its peak the grey market premium kept by the close is 0.96, better than 61% of recent issues
+0.9The highest grey market premium seen before bidding closed is 20.5, better than 57% of recent issues
+0.6How many grey market quotes were captured before bidding closed is 11, better than 65% of recent issues

What is pulling it down

-1.1Price paid per rupee of book value, after the issue is 1.79, better than 8% of recent issues
-1.0Share of the money going into working capital is 0, better than 0% of recent issues
-0.7Price paid per rupee of book value is 1.47, better than 4% of recent issues

These are the largest movers of 84 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 84 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for GERMAN, stamped 25-Sep-2026 17:00:52. While the book is open this is shown as a fact and is not counted in the score.
Grey marketipopremium, 11 quotes across 6 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

34 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Acme Universal Safezone 9 Ltd.

closes September 30, 2026SME board

Issues scoring 33 to 41 listed above their offer price 77 percent of the time, with a typical gain of +10.2%. 8% fell more than 10%.

Less 4.0 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 2 past issues share its sector (mixed), too few for a base rate.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+4.8Share of the company tradable on listing day is 17.64, better than 100% of recent issues
+2.2Median listing gain of the lead manager's earlier issues is 44.4, better than 82% of recent issues
+1.0Price paid per rupee of book value, after the issue is 1.89, better than 92% of recent issues
+0.4Price paid per rupee of book value is 1.56, better than 95% of recent issues

What is pulling it down

-6.1The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.7The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.7How much of the money going to sellers is the promoter's is 0, better than 0% of recent issues

These are the largest movers of 81 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 81 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 17 quotes across 5 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

34 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Kheria Autocomp Ltd.

closes September 21, 2026SME board

Issues scoring 34 to 41 listed above their offer price 76 percent of the time, with a typical gain of +9.7%. 9% fell more than 10%.

Less 11.0 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.00 times. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 29 past issues in Precision, Engineering, Auto, 86% listed up at a median of +9.2%.

+0.0Grey market premium was +3% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Company value including debt leads.

What is pushing this score up

+2.2Company value including debt, per rupee of operating profit is 8.52, better than 93% of recent issues
+1.6Size of the issue compared with a year's profit is 3.86, better than 83% of recent issues
+1.6Share of the company tradable on listing day is 19.29, better than 67% of recent issues
+1.2Price paid per rupee of profit is 14.01, better than 74% of recent issues

What is pulling it down

-5.2The grey market premium before bidding closed, against the issue price is 2.97, better than 6% of recent issues
-2.9The highest grey market premium seen before bidding closed is 9.9, better than 24% of recent issues
-1.7How much of the money going to sellers is the promoter's is 0, better than 0% of recent issues

These are the largest movers of 75 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 75 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketipowatch, multibagg, 27 quotes across 12 days, last read 2026-09-21. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

34 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

TNA Solutions Ltd.

closes October 6, 2026SME board

Issues scoring 33 to 41 listed above their offer price 77 percent of the time, with a typical gain of +10.2%. 8% fell more than 10%.

Less 2.5 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 50 past issues in Textiles, Spintex, Cotspin, 56% listed up at a median of +1.0%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Size of the issue compared with a year's profit leads.

What is pushing this score up

+2.1Size of the issue compared with a year's profit is 3.75, better than 85% of recent issues
+1.4Price paid per rupee of book value, after the issue is 0.58, better than 99% of recent issues
+1.3Revenue growth per year over three years is 74.39, better than 87% of recent issues
+1.1Price paid per rupee of profit against the median of listed peers is -62.4, better than 71% of recent issues

What is pulling it down

-7.3The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-6.9The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-2.1How much of the money going to sellers is the promoter's is 0, better than 0% of recent issues

These are the largest movers of 67 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 67 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 8 quotes across 3 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

34 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

Swastika Infra Ltd.

closes September 25, 2026Mainboard

Issues scoring 21 to 34 listed above their offer price 66 percent of the time, with a typical gain of +3.3%. 8% fell more than 10%.

Less 9.2 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 5.86 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 61 past issues in Infra, Infrastructure, Engineering, 66% listed up at a median of +2.5%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 3 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How many grey market quotes were captured before bidding closed leads.

What is pushing this score up

+1.0How many grey market quotes were captured before bidding closed is 30, better than 97% of recent issues
+0.5Revenue growth per year over three years is 54.67, better than 89% of recent issues
+0.5Share of the money going into working capital is 70, better than 96% of recent issues
+0.5Profit earned on shareholders' money is 35.44, better than 72% of recent issues

What is pulling it down

-1.9The highest grey market premium seen before bidding closed is 4.86, better than 23% of recent issues
-1.1The grey market premium before bidding closed, against the issue price is 4.05, better than 36% of recent issues
-0.8How many times the institutional portion was subscribed is 2.63, better than 40% of recent issues

These are the largest movers of 80 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 80 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for SWASTIKAIN, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, multibagg, 30 quotes across 8 days, last read 2026-09-25. Where two sources quote the same day the median is used, and they differed by 4 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

31 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Himalayan Solar Ltd.

closes September 29, 2026SME board

Issues scoring 24 to 33 listed above their offer price 66 percent of the time, with a typical gain of +4.7%. 18% fell more than 10%.

Less 10.0 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.51 times, as of Sep 25, 2026 18:54. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 0 past issues share its sector (Solar power), too few for a base rate.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Size of the issue compared with a year's profit leads.

What is pushing this score up

+2.3Size of the issue compared with a year's profit is 3.13, better than 95% of recent issues
+2.2Price paid per rupee of profit is 11.02, better than 92% of recent issues
+2.1Company value including debt, per rupee of operating profit is 9.09, better than 88% of recent issues
+1.1Price paid per rupee of profit against the median of listed peers is -64.6, better than 74% of recent issues

What is pulling it down

-6.2The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.9The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.8How often the lead manager's earlier issues listed above their price is 66, better than 24% of recent issues

These are the largest movers of 78 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 78 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for HIMALAYAN, stamped Sep 25, 2026 18:54. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipopremium, multibagg, 23 quotes across 7 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

31 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

Hero Motors Ltd.

closes September 18, 2026Mainboard

Issues scoring 21 to 34 listed above their offer price 66 percent of the time, with a typical gain of +3.3%. 8% fell more than 10%.

Less 10.2 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 4.01 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 68% of the 81 mainboard issues that have listed came in above their offer price, at a median of +6.5%. Among the 24 past issues in Precision, Engineering, Auto, 67% listed up at a median of +7.8%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 4 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How IPOs selling into the same end markets listed over the past six months leads.

What is pushing this score up

+1.8How IPOs selling into the same end markets listed over the past six months is 10.12, better than 83% of recent issues
+1.5The highest grey market premium seen before bidding closed is 28.57, better than 74% of recent issues
+0.9How many grey market quotes were captured before bidding closed is 24, better than 100% of recent issues
+0.5How well IPOs in the same sector listed over the past year is 16.88, better than 93% of recent issues

What is pulling it down

-2.9How many times the institutional portion was subscribed is 0.78, better than 7% of recent issues
-1.9How much of its peak the grey market premium kept by the close is 0.19, better than 11% of recent issues
-1.1The grey market premium before bidding closed, against the issue price is 5.36, better than 33% of recent issues

These are the largest movers of 94 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 94 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for HEROMOTORS, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketipowatch, multibagg, 24 quotes across 9 days, last read 2026-09-18. Where two sources quote the same day the median is used, and they differed by 3 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

31 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Himalaya Nutravedics India Ltd.

closes September 24, 2026SME board

Issues scoring 24 to 34 listed above their offer price 64 percent of the time, with a typical gain of +2.9%. 17% fell more than 10%.

Less 9.4 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 2.33 times, as of Sep 24, 2026 18:54. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 40 past issues in Pharmaceuticals, Laboratories, Healthcare, 68% listed up at a median of +5.0%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 2 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+3.3Share of the company tradable on listing day is 18.89, better than 93% of recent issues
+1.6Size of the issue compared with a year's profit is 3.4, better than 91% of recent issues
+1.4Price paid per rupee of profit is 12.63, better than 85% of recent issues
+0.9Revenue growth per year over three years is 72.86, better than 87% of recent issues

What is pulling it down

-4.8The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-4.6The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-2.8Median listing gain of the lead manager's earlier issues is -7.6, better than 1% of recent issues

These are the largest movers of 92 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 92 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for HNIL, stamped Sep 24, 2026 18:54. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipowatch, multibagg, 22 quotes across 9 days, last read 2026-09-24. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

31 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

Nityas Gems \u0026 Jewellery Ltd.

closes October 5, 2026Mainboard

Issues scoring 26 to 33 listed above their offer price 64 percent of the time, with a typical gain of +3.7%. 6% fell more than 10%.

Less 6.6 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 21 past issues in Jewellers, Jewellery, Gold, 76% listed up at a median of +9.8%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.
Why this score, 7 reasons. Profit earned on shareholders' money leads.

What is pushing this score up

+1.4Profit earned on shareholders' money is 43.76, better than 84% of recent issues
+1.2How IPOs selling into the same end markets listed over the past six months is 9.57, better than 70% of recent issues
+1.2Revenue growth per year over three years is 94.66, better than 98% of recent issues
+1.2Profit earned on all capital used in the business is 42.93, better than 89% of recent issues

What is pulling it down

-7.7The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-6.9The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.9How many grey market quotes were captured before bidding closed is 3, better than 3% of recent issues

These are the largest movers of 83 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 83 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, 3 quotes across 3 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

30 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Sai Urja Indo Ventures Ltd.

closes September 29, 2026SME board

Issues scoring 24 to 33 listed above their offer price 66 percent of the time, with a typical gain of +4.7%. 18% fell more than 10%.

Less 4.7 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.04 times, as of Sep 25, 2026 17:05. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 45 past issues in Management, Integrated, Space, 69% listed up at a median of +6.4%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+4.6Share of the company tradable on listing day is 18.4, better than 100% of recent issues
+1.2How much of the money going to sellers is the promoter's is 100.15, better than 87% of recent issues
+0.5Share of the anchor book taken by names that anchor many SME issues is 100, better than 94% of recent issues
+0.5Profit earned on all capital used in the business is 32.35, better than 62% of recent issues

What is pulling it down

-5.9The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.5The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-2.0Price paid per rupee of profit against the median of listed peers is 144.5, better than 4% of recent issues

These are the largest movers of 83 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 83 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for SAIURJA, stamped Sep 25, 2026 17:05. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipopremium, multibagg, 29 quotes across 11 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

30 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Acme India Industries Ltd.

closes October 6, 2026SME board

Issues scoring 24 to 33 listed above their offer price 66 percent of the time, with a typical gain of +4.7%. 18% fell more than 10%.

Less 2.5 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 0 past issues share its sector (Railway equipment), too few for a base rate.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. How often the lead manager's earlier issues listed above their price leads.

What is pushing this score up

+1.3How often the lead manager's earlier issues listed above their price is 90.4, better than 69% of recent issues
+1.0Median listing gain of the lead manager's earlier issues is 29.3, better than 64% of recent issues
+0.5Paid up equity after the issue, in rupees crore (a small base is a small float) is 23.47, better than 94% of recent issues
+0.5Price paid per rupee of book value, after the issue is 3.27, better than 69% of recent issues

What is pulling it down

-6.2The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.8The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-2.4Price paid per rupee of profit, per point of yearly profit growth is 1.5, better than 2% of recent issues

These are the largest movers of 79 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 79 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, multibagg, 5 quotes across 3 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

29 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Unitec Fibres Ltd.

closes September 25, 2026SME board

Issues scoring 24 to 34 listed above their offer price 64 percent of the time, with a typical gain of +2.9%. 17% fell more than 10%.

Less 4.9 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 3.92 times, as of Sep 25, 2026 18:53. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 3 past issues share its sector (mixed), too few for a base rate.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 2 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+3.5Share of the company tradable on listing day is 18.1, better than 100% of recent issues
+1.0Price paid per rupee of profit against the median of listed peers is -69.1, better than 80% of recent issues
+0.8Price paid per rupee of book value, after the issue is 1.61, better than 94% of recent issues
+0.7Size of the issue compared with a year's profit is 4.3, better than 70% of recent issues

What is pulling it down

-4.5The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-4.2The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.8Price paid per rupee of profit, per point of yearly profit growth is 13.8, better than 0% of recent issues

These are the largest movers of 99 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 99 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for UNITEC, stamped Sep 25, 2026 18:53. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, multibagg, 21 quotes across 8 days, last read 2026-09-25. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

29 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Papadmalji Agro Foods Ltd.

closes October 1, 2026SME board

Issues scoring 24 to 33 listed above their offer price 66 percent of the time, with a typical gain of +4.7%. 18% fell more than 10%.

Less 6.0 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 25 past issues in Foods, Agro, Spices, 72% listed up at a median of +6.2%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Company value including debt leads.

What is pushing this score up

+2.6Company value including debt, per rupee of operating profit is 9.2, better than 88% of recent issues
+2.3Size of the issue compared with a year's profit is 3.68, better than 86% of recent issues
+2.1Price paid per rupee of profit is 12.97, better than 82% of recent issues
+0.9Profit as a share of revenue is 15.53, better than 81% of recent issues

What is pulling it down

-7.9The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-7.4The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-4.3Share of the company tradable on listing day is 28.32, better than 15% of recent issues

These are the largest movers of 62 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 62 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 12 quotes across 4 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

29 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Shree TNB Polymers Ltd.

closes October 5, 2026SME board

Issues scoring 24 to 33 listed above their offer price 66 percent of the time, with a typical gain of +4.7%. 18% fell more than 10%.

Less 5.4 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.00 times. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 24 past issues in Pipes, Polymers, Fittings, 71% listed up at a median of +3.6%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+4.5Share of the company tradable on listing day is 18.71, better than 100% of recent issues
+2.4Company value including debt, per rupee of operating profit is 7.9, better than 97% of recent issues
+1.1Size of the issue compared with a year's profit is 4.24, better than 73% of recent issues
+1.0Price paid per rupee of book value, after the issue is 1.46, better than 96% of recent issues

What is pulling it down

-5.8The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-3.9The highest grey market premium seen before bidding closed is 7.55, better than 14% of recent issues
-3.3Median listing gain of the lead manager's earlier issues is -5, better than 1% of recent issues

These are the largest movers of 85 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 85 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 17 quotes across 5 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

27 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Vivekanand Cotspin Ltd.

closes September 23, 2026SME board

Issues scoring 24 to 34 listed above their offer price 64 percent of the time, with a typical gain of +2.9%. 17% fell more than 10%.

Less 5.9 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.79 times, as of Sep 23, 2026 18:54. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 50 past issues in Textiles, Spintex, Cotspin, 56% listed up at a median of +1.0%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 2 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Share of the company tradable on listing day leads.

What is pushing this score up

+3.7Share of the company tradable on listing day is 17.97, better than 100% of recent issues
+1.8Company value including debt, per rupee of operating profit is 8.44, better than 94% of recent issues
+0.7Price paid per rupee of book value, after the issue is 2.08, better than 89% of recent issues
+0.4Share of the anchor book taken by names that anchor many SME issues is 100, better than 94% of recent issues

What is pulling it down

-4.7The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-4.4The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.6How many times the whole issue was subscribed is 1.79, better than 29% of recent issues

These are the largest movers of 95 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 95 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for VIVEKANAND, stamped Sep 23, 2026 18:54. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipopremium, ipowatch, multibagg, 19 quotes across 8 days, last read 2026-09-23. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

27 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

S.K.Offset Ltd.

closes September 25, 2026SME board

Issues scoring 24 to 34 listed above their offer price 64 percent of the time, with a typical gain of +2.9%. 17% fell more than 10%.

Less 12.4 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.18 times, as of Sep 25, 2026 18:53. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 37 past issues in Packaging, Plast, Polymers, 73% listed up at a median of +6.6%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Company value including debt leads.

What is pushing this score up

+1.8Company value including debt, per rupee of operating profit is 9.26, better than 88% of recent issues
+1.6Size of the issue compared with a year's profit is 3.68, better than 86% of recent issues
+1.5Price paid per rupee of profit is 12.94, better than 83% of recent issues
+1.0Revenue growth per year over three years is 69.54, better than 86% of recent issues

What is pulling it down

-5.4The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.1The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-3.8How many times the whole issue was subscribed is 1.18, better than 7% of recent issues

These are the largest movers of 82 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 82 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for SKOFFSET, stamped Sep 25, 2026 18:53. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, multibagg, 28 quotes across 12 days, last read 2026-09-25. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

26 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

SJP Ultrasonics Ltd.

closes October 5, 2026SME board

Issues scoring 24 to 33 listed above their offer price 66 percent of the time, with a typical gain of +4.7%. 18% fell more than 10%.

Less 3.6 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 34 past issues in Engineers, Heat, Electronics, 88% listed up at a median of +28.6%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Size of the issue compared with a year's profit leads.

What is pushing this score up

+1.2Size of the issue compared with a year's profit is 4.25, better than 72% of recent issues
+0.9Profit as a share of revenue is 19.68, better than 88% of recent issues
+0.8Company value including debt, per rupee of operating profit is 11.12, better than 63% of recent issues
+0.7Operating profit as a share of revenue is 31.24, better than 89% of recent issues

What is pulling it down

-6.6The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-6.2The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-3.7Median listing gain of the lead manager's earlier issues is -5, better than 1% of recent issues

These are the largest movers of 74 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 74 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 7 quotes across 3 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

24 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Dudani Retail Ltd.

closes September 29, 2026SME board

Issues scoring 2 to 24 listed above their offer price 52 percent of the time, with a typical gain of +0.4%. 23% fell more than 10%.

Less 9.2 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.08 times, as of Sep 25, 2026 17:07. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 33 past issues in Retail, Apparels, Fashion, 67% listed up at a median of +5.0%.

+0.0Grey market premium was +10% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Price paid per rupee of book value leads.

What is pushing this score up

+1.0Price paid per rupee of book value, after the issue is 1.9, better than 91% of recent issues
+0.4Price paid per rupee of book value is 1.48, better than 96% of recent issues
+0.3Share of new money left unallocated as general corporate purposes is 0, better than 100% of recent issues
+0.3Company value including debt, per rupee of operating profit is 11.76, better than 56% of recent issues

What is pulling it down

-4.4Share of the company tradable on listing day is 33.23, better than 4% of recent issues
-2.7The highest grey market premium seen before bidding closed is 10.34, better than 27% of recent issues
-1.8How often the lead manager's earlier issues listed above their price is 66, better than 24% of recent issues

These are the largest movers of 81 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 81 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for DUDANI, stamped Sep 25, 2026 17:07. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipopremium, multibagg, 19 quotes across 6 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

24 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Axiom Gas Engineering Ltd.

closes September 22, 2026SME board

Issues scoring 1 to 24 listed above their offer price 51 percent of the time, with a typical gain of +0.3%. 24% fell more than 10%.

Less 4.5 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.00 times. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 0 past issues share its sector (mixed), too few for a base rate.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Median listing gain of the lead manager's earlier issues leads.

What is pushing this score up

+0.5Median listing gain of the lead manager's earlier issues is 25.2, better than 59% of recent issues
+0.4How the typical stock moved over the past month is 0.44, better than 76% of recent issues
+0.3The company replaces something India currently imports is 1, better than 88% of recent issues
+0.2Share of new money going into building capacity is 57.3, better than 86% of recent issues

What is pulling it down

-5.0The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-4.7The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-1.6Price paid per rupee of profit, per point of yearly profit growth is 0.71, better than 11% of recent issues

These are the largest movers of 89 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 89 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, ipowatch, multibagg, 26 quotes across 14 days, last read 2026-09-22. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

24 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Coreintegra Consulting Services Ltd.

closes September 25, 2026SME board

Issues scoring 1 to 24 listed above their offer price 51 percent of the time, with a typical gain of +0.3%. 24% fell more than 10%.

Less 4.1 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.40 times, as of Sep 25, 2026 18:54. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 45 past issues in Management, Integrated, Space, 69% listed up at a median of +6.4%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Price paid per rupee of profit against the median of listed peers leads.

What is pushing this score up

+1.1Price paid per rupee of profit against the median of listed peers is -68.6, better than 80% of recent issues
+1.0Price paid per rupee of book value, after the issue is 0.01, better than 100% of recent issues
+0.3Size of the issue compared with a year's profit is 4.63, better than 58% of recent issues
+0.3Price paid per rupee of book value is 1.69, better than 92% of recent issues

What is pulling it down

-5.3The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.0The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-2.9How many times the whole issue was subscribed is 1.4, better than 16% of recent issues

These are the largest movers of 83 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 83 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for COREIN, stamped Sep 25, 2026 18:54. While the book is open this is shown as a fact and is not counted in the score.
Grey marketmultibagg, 15 quotes across 7 days, last read 2026-09-25. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

23 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Shivchem Agro Ltd.

closes September 30, 2026SME board

Issues scoring 2 to 24 listed above their offer price 52 percent of the time, with a typical gain of +0.4%. 23% fell more than 10%.

Less 11.4 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 5 past issues share its sector (Crop, Science), too few for a base rate.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Company value including debt leads.

What is pushing this score up

+2.5Company value including debt, per rupee of operating profit is 9.03, better than 89% of recent issues
+1.6Size of the issue compared with a year's profit is 4.1, better than 77% of recent issues
+1.3Revenue growth per year over three years is 75.8, better than 87% of recent issues
+1.2Price paid per rupee of profit is 14.39, better than 70% of recent issues

What is pulling it down

-7.4The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-6.9The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-4.0Share of the company tradable on listing day is 28.5, better than 15% of recent issues

These are the largest movers of 67 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 67 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 17 quotes across 5 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

23 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

Shah Investor's Home Ltd.

closes September 30, 2026Mainboard

Issues scoring -0 to 25 listed above their offer price 43 percent of the time, with a typical gain of -1.2%. 18% fell more than 10%.

Less 8.5 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.00 times, as of -. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 10 past issues in Securities, Stock, Broking, 70% listed up at a median of +16.2%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.
Why this score, 7 reasons. How IPOs selling into the same end markets listed over the past six months leads.

What is pushing this score up

+1.0How IPOs selling into the same end markets listed over the past six months is 9.16, better than 67% of recent issues
+0.8Share of the money going into working capital is 66.5, better than 91% of recent issues
+0.6Profit as a share of revenue is 18.11, better than 86% of recent issues
+0.5How many grey market quotes were captured before bidding closed is 19, better than 64% of recent issues

What is pulling it down

-2.2The highest grey market premium seen before bidding closed is 7.19, better than 33% of recent issues
-1.7Profit growth per year over three years is -14.78, better than 1% of recent issues
-1.5Profit earned on shareholders' money is 7.54, better than 11% of recent issues

These are the largest movers of 88 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 5 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 88 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for SHAHINVEST, stamped -. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 19 quotes across 5 days, last read 2026-09-27. Where two sources quote the same day the median is used, and they differed by 1 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

21 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Liqvd Digital India Ltd.

closes September 25, 2026SME board

Issues scoring 1 to 24 listed above their offer price 51 percent of the time, with a typical gain of +0.3%. 24% fell more than 10%.

Less 11.7 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 5.08 times, as of Sep 25, 2026 18:52. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 19 past issues in Advertising, Media, Marketing, 68% listed up at a median of +12.5%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How much of the money going to sellers is the promoter's leads.

What is pushing this score up

+0.7How much of the money going to sellers is the promoter's is 100.06, better than 76% of recent issues
+0.7Price paid per rupee of profit is 14.96, better than 66% of recent issues
+0.6Price paid per rupee of book value, after the issue is 2.52, better than 82% of recent issues
+0.5Profit as a share of revenue is 13.19, better than 74% of recent issues

What is pulling it down

-5.0The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-4.7The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-3.5Share of the company tradable on listing day is 32.45, better than 6% of recent issues

These are the largest movers of 89 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 89 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for LIQVD, stamped Sep 25, 2026 18:52. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, multibagg, 24 quotes across 9 days, last read 2026-09-25. Where two sources quote the same day the median is used, and they differed by 3 on the last day.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

21 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

ArMee Infotech Ltd.

closes September 25, 2026Mainboard

Issues scoring -7 to 21 listed above their offer price 31 percent of the time, with a typical gain of -4.2%. 18% fell more than 10%.

Less 11.3 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.38 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 23 past issues in Infotech, Tech, Information, 70% listed up at a median of +11.5%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How many grey market quotes were captured before bidding closed leads.

What is pushing this score up

+0.9How many grey market quotes were captured before bidding closed is 28, better than 96% of recent issues
+0.4How IPOs selling into the same end markets listed over the past six months is 6.23, better than 56% of recent issues
+0.3Share of the money going into working capital is 20, better than 80% of recent issues
+0.2Share of the money going into plant and equipment is 51.7, better than 88% of recent issues

What is pulling it down

-2.8How many times the institutional portion was subscribed is 0.94, better than 13% of recent issues
-2.3How many times the whole issue was subscribed is 1.38, better than 20% of recent issues
-1.9How many times the large wealthy individual portion was subscribed is 1.03, better than 23% of recent issues

These are the largest movers of 85 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 85 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for ARMEE, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 28 quotes across 9 days, last read 2026-09-25. Where two sources quote the same day the median is used, and they differed by 12 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

21 / 100

Read while bidding is open, so demand is not counted yet. It changes when the book closes.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Green Asia Impex Ltd.

closes September 28, 2026SME board

Issues scoring 2 to 24 listed above their offer price 52 percent of the time, with a typical gain of +0.4%. 23% fell more than 10%.

Less 10.8 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.03 times, as of Sep 25, 2026 18:54. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 2 past issues share its sector (mixed), too few for a base rate.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Price paid per rupee of profit leads.

What is pushing this score up

+1.8Price paid per rupee of profit is 12.31, better than 87% of recent issues
+1.8Size of the issue compared with a year's profit is 3.65, better than 86% of recent issues
+0.8Profit earned on shareholders' money is 62.52, better than 79% of recent issues
+0.4Company value including debt, per rupee of operating profit is 11.56, better than 58% of recent issues

What is pulling it down

-5.9The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.5The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-3.4Share of the company tradable on listing day is 29.65, better than 13% of recent issues

These are the largest movers of 84 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 84 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for GREENASIA, stamped Sep 25, 2026 18:54. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipopremium, multibagg, 23 quotes across 7 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

21 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

43%
64%
72%
93%
92%
026333948

the number under each bar is the lowest score in that band

Vishal Nirmiti Ltd.

closes October 5, 2026Mainboard

Issues scoring -0 to 25 listed above their offer price 43 percent of the time, with a typical gain of -1.2%. 18% fell more than 10%.

Less 10.9 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 61 past issues in Infra, Infrastructure, Engineering, 66% listed up at a median of +2.5%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.
Why this score, 7 reasons. How IPOs selling into the same end markets listed over the past six months leads.

What is pushing this score up

+2.5How IPOs selling into the same end markets listed over the past six months is 15.43, better than 92% of recent issues
+0.9Share of revenue from the five largest customers is 85.33, better than 92% of recent issues
+0.7Share of revenue from the largest customers is 92.91, better than 87% of recent issues
+0.7Share of revenue from the ten largest customers is 92.91, better than 85% of recent issues

What is pulling it down

-7.7The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-6.8The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-2.0How many grey market quotes were captured before bidding closed is 3, better than 1% of recent issues

These are the largest movers of 83 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 83 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, 3 quotes across 2 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

20 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Eventions Ltd.

closes October 5, 2026SME board

Issues scoring 2 to 24 listed above their offer price 52 percent of the time, with a typical gain of +0.4%. 23% fell more than 10%.

Less 4.8 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 9 past issues in Events, Entertainment, 56% listed up at a median of +0.6%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Profit earned on shareholders' money leads.

What is pushing this score up

+0.7Profit earned on shareholders' money is 55.16, better than 71% of recent issues
+0.4Size of the issue compared with a year's profit is 4.69, better than 57% of recent issues
+0.4Share of new money left unallocated as general corporate purposes is 0, better than 100% of recent issues
+0.2How the sector's already listed stocks moved over the past three months is 1.04, better than 69% of recent issues

What is pulling it down

-7.4The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-6.9The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-2.1How much of the money going to sellers is the promoter's is 0, better than 0% of recent issues

These are the largest movers of 66 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 66 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, multibagg, 5 quotes across 3 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

17 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

Sonaselection India Ltd.

closes September 21, 2026Mainboard

Issues scoring -7 to 21 listed above their offer price 31 percent of the time, with a typical gain of -4.2%. 18% fell more than 10%.

Less 9.7 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.46 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 69% of the 84 mainboard issues that have listed came in above their offer price, at a median of +7.0%. Among the 18 past issues in Textiles, Spintex, Cotspin, 50% listed up at a median of +0.2%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How IPOs selling into the same end markets listed over the past six months leads.

What is pushing this score up

+1.4How IPOs selling into the same end markets listed over the past six months is 8.74, better than 76% of recent issues
+0.9How many grey market quotes were captured before bidding closed is 27, better than 98% of recent issues
+0.6Profit earned on shareholders' money is 39.05, better than 81% of recent issues
+0.6Revenue growth per year over three years is 100, better than 100% of recent issues

What is pulling it down

-3.5The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-2.8How many times the institutional portion was subscribed is 0.88, better than 10% of recent issues
-2.5How much of its peak the grey market premium kept by the close is 0, better than 0% of recent issues

These are the largest movers of 91 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 91 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for SONA, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketipowatch, multibagg, 27 quotes across 12 days, last read 2026-09-21. Where two sources quote the same day the median is used.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

17 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Omara Ventures India Ltd.

closes October 5, 2026SME board

Issues scoring 2 to 24 listed above their offer price 52 percent of the time, with a typical gain of +0.4%. 23% fell more than 10%.

Less 12.6 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 46 past issues in Jewellers, Jewellery, Gold, 65% listed up at a median of +1.5%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Profit earned on shareholders' money leads.

What is pushing this score up

+1.4Profit earned on shareholders' money is 119.52, better than 98% of recent issues
+1.1Size of the issue compared with a year's profit is 4.26, better than 72% of recent issues
+1.0Price paid per rupee of profit is 14.47, better than 70% of recent issues
+1.0Company value including debt, per rupee of operating profit is 10.95, better than 68% of recent issues

What is pulling it down

-6.3The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.9The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-3.6Median listing gain of the lead manager's earlier issues is -21.7, better than 0% of recent issues

These are the largest movers of 78 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 78 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 16 quotes across 5 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

16 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

Varmora Granito Ltd.

closes September 24, 2026Mainboard

Issues scoring -7 to 21 listed above their offer price 31 percent of the time, with a typical gain of -4.2%. 18% fell more than 10%.

Less 4.8 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 0.97 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Only 3 past issues share its sector (Granito, Tiles), too few for a base rate.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How many grey market quotes were captured before bidding closed leads.

What is pushing this score up

+1.0How many grey market quotes were captured before bidding closed is 28, better than 98% of recent issues
+0.1Share of the board with a finance or accounting background is 66.7, better than 66% of recent issues
+0.1How many directors sit on the board is 9, better than 83% of recent issues
+0.1Whether the business is getting more sales per rupee of assets is 0.04, better than 66% of recent issues

What is pulling it down

-3.9The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-2.8How much of its peak the grey market premium kept by the close is 0, better than 0% of recent issues
-2.7How many times the whole issue was subscribed is 0.97, better than 16% of recent issues

These are the largest movers of 82 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 82 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for VARMORA, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipowatch, multibagg, 28 quotes across 8 days, last read 2026-09-24. Where two sources quote the same day the median is used, and they differed by 0 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

15 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

51%
64%
76%
90%
94%
124344151

the number under each bar is the lowest score in that band

Anand Seamless Ltd.

closes September 24, 2026SME board

Issues scoring 1 to 24 listed above their offer price 51 percent of the time, with a typical gain of +0.3%. 24% fell more than 10%.

Less 11.9 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.47 times, as of Sep 24, 2026 18:53. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 39 past issues in Tubes, Steel, Wires, 64% listed up at a median of +2.4%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. Size of the issue compared with a year's profit leads.

What is pushing this score up

+0.7Size of the issue compared with a year's profit is 4.42, better than 65% of recent issues
+0.6Company value including debt, per rupee of operating profit is 11.19, better than 62% of recent issues
+0.4The company is making its own inputs instead of buying them is 1, better than 83% of recent issues
+0.3Price paid per rupee of profit is 15.72, better than 57% of recent issues

What is pulling it down

-5.4The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.1The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-2.9Share of the company tradable on listing day is 28.13, better than 16% of recent issues

These are the largest movers of 82 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 82 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for ANAND, stamped Sep 24, 2026 18:53. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipowatch, multibagg, 20 quotes across 8 days, last read 2026-09-24. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

14 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Pind Hospitality Ltd.

closes September 30, 2026SME board

Issues scoring 2 to 24 listed above their offer price 52 percent of the time, with a typical gain of +0.4%. 23% fell more than 10%.

Less 9.6 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Only 4 past issues share its sector (mixed), too few for a base rate.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Price paid per rupee of profit against the median of listed peers leads.

What is pushing this score up

+2.0Price paid per rupee of profit against the median of listed peers is -86.4, better than 96% of recent issues
+0.4How the sector's already listed stocks moved over the past three months is 10.9, better than 91% of recent issues
+0.3Share of new money going into building capacity is 75.06, better than 95% of recent issues
+0.3Share of new money going to repay borrowings is 0, better than 100% of recent issues

What is pulling it down

-6.1The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.7The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-3.3Share of the company tradable on listing day is 28.49, better than 15% of recent issues

These are the largest movers of 81 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 81 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 18 quotes across 6 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

12 / 100

Read from the completed order book. This is the strongest read we have.

Share of past issues in each band that listed above their offer price

31%
66%
70%
93%
99%
021344659

the number under each bar is the lowest score in that band

Elevate Campuses Ltd.

closes September 25, 2026Mainboard

Issues scoring -7 to 21 listed above their offer price 31 percent of the time, with a typical gain of -4.2%. 18% fell more than 10%.

Less 12.8 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Demand so far 1.36 times, as of final, NSE. Not counted in the score while the book is still open.

Where it sits. So far in 2026, 71% of the 89 mainboard issues that have listed came in above their offer price, at a median of +6.7%. Among the 9 past issues in Trust, Property, Share, 67% listed up at a median of +3.6%.

Grey market premium is not used once real subscription demand is visible. We tested it: on a live book it moves accuracy by nothing at all, and money bid beats a dealer's quote.

Allotment odds about 1 in 1 for a one lot retail application. A good score with long odds is the normal case: the issues worth applying to are the hardest to get.

Why this score, 7 reasons. How many grey market quotes were captured before bidding closed leads.

What is pushing this score up

+1.1How many grey market quotes were captured before bidding closed is 32, better than 98% of recent issues
+0.6Profit growth per year over three years is 100, better than 81% of recent issues
+0.5Revenue growth in the most recent year is 53.09, better than 87% of recent issues
+0.4Profit as a share of revenue is 28.8, better than 92% of recent issues

What is pulling it down

-3.3The grey market premium before bidding closed, against the issue price is 0.59, better than 10% of recent issues
-2.8How many times the large wealthy individual portion was subscribed is 0.62, better than 13% of recent issues
-2.8How many times the wealthy individual portion was subscribed is 0.67, better than 13% of recent issues

These are the largest movers of 76 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 6 sources
The scoreMainboard engine, v3 rank IC with structure discount, 71 components, 76 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
DemandNational Stock Exchange bid data for ELEVATE, stamped final, NSE. While the book is open this is shown as a fact and is not counted in the score.
Grey marketinvestorgain, ipocentral, ipopremium, multibagg, 32 quotes across 8 days, last read 2026-09-25. Where two sources quote the same day the median is used, and they differed by 0 on the last day.
The base rates441 past mainboard issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.
Allotment oddsDerived from retail subscription, checked against the registrar's own applications and allottees on 42 issues, where the true odds ran a median 1.15 times the naive figure.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

10 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Paramount Syntex Ltd.

closes October 6, 2026SME board

Issues scoring 2 to 24 listed above their offer price 52 percent of the time, with a typical gain of +0.4%. 23% fell more than 10%.

Less 13.9 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 50 past issues in Textiles, Spintex, Cotspin, 56% listed up at a median of +1.0%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Company value including debt leads.

What is pushing this score up

+0.6Company value including debt, per rupee of operating profit is 11.31, better than 61% of recent issues
+0.4Share of new money going into building capacity is 79.39, better than 98% of recent issues
+0.3Share of the money going into plant and equipment is 79.4, better than 96% of recent issues
+0.3Share of new money going to repay borrowings is 0, better than 100% of recent issues

What is pulling it down

-6.3The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-5.9The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-4.6Share of the company tradable on listing day is 33.25, better than 4% of recent issues

These are the largest movers of 78 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 78 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 12 quotes across 4 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

7 / 100

Read before bidding opens. About half as reliable as a completed book.

Share of past issues in each band that listed above their offer price

52%
66%
77%
86%
94%
224334150

the number under each bar is the lowest score in that band

Sollfege Smart Electronics Ltd.

closes October 5, 2026SME board

Issues scoring 2 to 24 listed above their offer price 52 percent of the time, with a typical gain of +0.4%. 23% fell more than 10%.

Less 14.6 points for the offer structure: how much of the company is being sold, how much of it the promoter is selling, and how many shares are new.

Where it sits. So far in 2026, 59% of the 145 SME issues that have listed came in above their offer price, at a median of +3.8%. Among the 10 past issues in Commerce, Ventures, 90% listed up at a median of +23.1%.

+0.0Grey market premium was +0% of the issue price in the last quote before bidding closed, across 0 quotes. That is worth +0.0 points here. A quote can add up to 10 points and never subtracts any: measured across 272 issues, a weak premium says nothing, while a strong one is the best single signal before a book opens.
Why this score, 7 reasons. Price paid per rupee of book value leads.

What is pushing this score up

+0.5Price paid per rupee of book value, after the issue is 3.17, better than 71% of recent issues
+0.3Share of new money going to repay borrowings is 0, better than 100% of recent issues
+0.3Price paid per rupee of book value is 1.83, better than 86% of recent issues
+0.3Share of new money going into building capacity is 58.03, better than 87% of recent issues

What is pulling it down

-6.6The grey market premium before bidding closed, against the issue price is 0, better than 0% of recent issues
-6.2The highest grey market premium seen before bidding closed is 0, better than 0% of recent issues
-5.2Share of the company tradable on listing day is 39.6, better than 0% of recent issues

These are the largest movers of 74 points of evidence. The rest of the engine moves the score by smaller amounts.

Where these numbers come from, 4 sources
The scoreSME engine, v3 rank IC with structure discount, 62 components, 74 of 100 points of evidence present on this issue. Fitted only on issues that listed before this one opened.
The accountsRead from the issue's own red herring prospectus, cached locally. Revenue, profit, margins, returns and the offer structure are extracted from it, not keyed by hand.
Grey marketinvestorgain, ipopremium, multibagg, 7 quotes across 3 days, last read 2026-09-27. Where two sources quote the same day the median is used.
The base rates1002 past SME issues scored point in time, 2021 onward: the engine was refitted each quarter on outcomes already known and scored only what came next, so these rates are out of sample.

This is about one day: whether the stock opens above the price you pay. It says nothing about whether to hold it. We tested that and could not make it work, so we do not sell it.

Open and upcoming, 33 issues

last capture: 2026-09-27 12:45 IST | multibagg ok: 7489 quotes on page, 18
IssueApply scoreBasisAllotment oddsPriceGMPGMP %Bidding
Moneyview Ltd. sources differ by 152.8pre-book, book still o1 in 334+13+41.2%closes 2026-09-28
A-One Steels India Ltd. sources differ by 442.0pre-book, book still o1 in 1405+51+13.6%closes 2026-09-28
Roopa Screen Ltd. sources differ by 872.1pre-book, book still o1 in 864+0+12.5%closes 2026-09-28
Peshwa Wheat Ltd.42.4pre-book, book still o1 in 1101+0+0.0%closes 2026-09-28
Green Asia Impex Ltd.20.7pre-book, book still o1 in 190+0+0.0%closes 2026-09-28
Orient Cables (India) Ltd. sources differ by 3539.0pre-book, book still o1 in 1272+80+29.4%closes 2026-09-29
German Green Steel \u0026 Power Ltd. sources differ by 134.5pre-book, book still o1 in 1139+25+18.0%closes 2026-09-29
Bench Mark Infotech Services Ltd. sources differ by 459.2pre-book, book still o1 in 1110+16+14.5%closes 2026-09-29
Dudani Retail Ltd. sources differ by 324.0pre-book, book still o1 in 129+3+10.3%closes 2026-09-29
Acevector Ltd. sources differ by 235.5pre-book, book still o1 in 132+2+6.2%closes 2026-09-29
Runwal Enterprises Ltd. sources differ by 238.1pre-book, book still o1 in 1305+16+5.9%closes 2026-09-29
Himalayan Solar Ltd.31.4pre-book, book still o1 in 1103+0+0.0%closes 2026-09-29
Sai Urja Indo Ventures Ltd.29.9pre-book, book still o1 in 1113+0+0.0%closes 2026-09-29
Shree TNB Polymers28.6pre-book.52+0+0.0%closes 2026-09-29
SRIT India Ltd. sources differ by 2044.8pre-book.130+32+24.6%closes 2026-09-30
Shah Investor's Home Ltd. sources differ by 222.8pre-book.167+12+7.2%closes 2026-09-30
Pind Hospitality Ltd.13.9pre-book.99+0+0.0%closes 2026-09-30
Acme Universal Safezone 9 Ltd.34.3pre-book.71+0+0.0%closes 2026-09-30
Shivchem Agro Ltd.22.9pre-book.62+0+0.0%closes 2026-09-30
Vans Electroengineerings Ltd.42.2pre-book.118+0+0.0%closes 2026-10-01
Papadmalji Agro Foods Ltd.28.7pre-book.72+0+0.0%closes 2026-10-01
Black Opal Consultants Ltd.40.3pre-book.197+0+0.0%closes 2026-10-01
Dove Soft Ltd.38.9pre-book.111+0+0.0%closes 2026-10-05
Sollfege Smart Electronics Ltd.6.6pre-book.55+0+0.0%closes 2026-10-05
Omara Ventures India Ltd.17.0pre-book.311+0+0.0%closes 2026-10-05
Eventions Ltd.19.6pre-book.118+0+0.0%closes 2026-10-05
Nityas Gems \u0026 Jewellery Ltd.31.0pre-book.220+0+0.0%closes 2026-10-05
SJP Ultrasonics Ltd.26.3pre-book.67+0+0.0%closes 2026-10-05
EverestIMS Technologies Ltd.47.2pre-book.85+0+0.0%closes 2026-10-05
Shree TNB Polymers Ltd.28.6pre-book.53+0+0.0%closes 2026-10-05
Paramount Syntex Ltd.10.4pre-book.127+0+0.0%closes 2026-10-06
Acme India Industries Ltd.29.9pre-book.196+0+0.0%closes 2026-10-06
TNA Solutions Ltd.34.2pre-book.70+0+0.0%closes 2026-10-06

How to read these

While bidding is open the score shown is the PRE-BOOK one, because the live book engine is fitted on completed subscription and a partly formed book would score near the floor for no reason but the clock. Allotment odds are for a one lot retail application, derived from retail demand. Grey market quotes are captured before bidding closes and are shown uncalibrated; where the two sources disagree the row says so.

Pre-book: what a score means

point in time scores, 2021 onward
Score bandIssuesListed positiveMedian gainGained over 10%Fell over 10%
-0 to 258843.2%-1.2%19%18%
26 to 338863.6%+3.7%36%6%
33 to 398871.6%+10.6%51%7%
39 to 488893.2%+23.3%75%0%
48 to 768992.1%+36.3%85%1%

Live book: what a score means

point in time scores, 2021 onward
Score bandIssuesListed positiveMedian gainGained over 10%Fell over 10%
-7 to 218331.3%-4.2%11%18%
21 to 348366.3%+3.3%36%8%
34 to 468369.9%+5.8%43%6%
46 to 588392.8%+29.1%80%0%
59 to 828498.8%+39.6%92%0%

Live book engine

80 components, v3 rank IC with structure discount

Weight by family

Demand47.7
Other28.6
Growth and trend5.3
Market context3.9
Profitability3.7
Triggers2.9
Risk and forensics2.6
Valuation2.3
Use of proceeds1.9
Offer structure0.5
Deal and syndicate0.5

Twelve largest components

Total subscription6.5
QIB subscription6.4
gmp pre pct6.4
sub total boa6.2
Big NII subscription5.8
Small NII subscription5.7
gmp pre peak pct5.7
NII subscription5.7
Retail subscription5.3
end market heat 1805.0
gmp hold ratio4.5
Employee subscription4.3

Pre-book engine

71 components, v3 rank IC with structure discount

Weight by family

Other52.4
Growth and trend10.7
Market context7.8
Profitability7.4
Triggers5.9
Risk and forensics5.3
Valuation4.6
Use of proceeds3.9
Offer structure1.0
Deal and syndicate1.0

Twelve largest components

gmp pre pct12.8
gmp pre peak pct11.4
gmp hold ratio9.0
end market heat 1805.0
Return on equity3.4
gmp pre obs3.4
Profit CAGR3.1
Return on capital2.5
market mom 3m2.5
pbv2.2
sector heat2.2
sector mom 3m2.1

Which red flags earned their place

each check against whether the issue listed above its offer price

Every one of these sounds bad in a prospectus. Most of them did not change whether the issue listed up, and several went the other way. A flag is called a gate only where the flagged issues listed up at least 5 points less often.

Mainboard

CheckIssuesFlaggedClean listed upFlagged listed upGapVerdict
Large contingent liabilities against net worth2194676%59%-17.6ppgate, it carries weight
Heavy litigation against the company or its promoters1352177%62%-15.3ppgate, it carries weight
The promoter is selling a large part of their holding48721872%64%-7.9ppgate, it carries weight
The issue is very large against the profit it earns5518972%65%-7.3ppgate, it carries weight
F4_small_auditor64239372%65%-6.7ppfires on most issues, so it is a fact about the market
Audited outside the four largest firms64245571%66%-4.7ppfires on most issues, so it is a fact about the market
The auditor qualified the accounts83618668%66%-2.0ppshown, but it did not move the outcome
The balance sheet was tidied before the issue54111372%71%-0.7ppshown, but it did not move the outcome
A complex group of related companies2553571%71%+0.1ppshown, but it did not move the outcome
A severe gap between profit and cash1151975%79%+3.9ppshown, but it did not move the outcome
A large part of the money raised has no stated use6795467%72%+5.0ppflagged issues did BETTER
The auditor drew attention to a matter83631166%71%+5.3ppflagged issues did BETTER
Profit is not turning into cash1152174%81%+6.5ppflagged issues did BETTER
Profit grew faster than the operations under it2526570%78%+8.9ppflagged issues did BETTER
Adverse remarks in the statutory audit annexure83620765%76%+11.5ppflagged issues did BETTER
Heavy dealing with related parties12410067%80%+13.3ppfires on most issues, so it is a fact about the market

2 more checks are carried but too thin on one side to judge

SME board

CheckIssuesFlaggedClean listed upFlagged listed upGapVerdict
The issue is very large against the profit it earns102510478%67%-10.5ppgate, it carries weight
Profit grew faster than the operations under it41013869%59%-9.3ppgate, it carries weight
The auditor drew attention to a matter2672585%76%-8.7ppgate, it carries weight
The balance sheet was tidied before the issue108321176%75%-0.7ppshown, but it did not move the outcome
A large part of the money raised has no stated use11823376%76%-0.6ppfires on almost nobody, nothing to read into it
The auditor qualified the accounts26714283%84%+1.3ppfires on most issues, so it is a fact about the market
Adverse remarks in the statutory audit annexure2672484%88%+4.0ppshown, but it did not move the outcome

8 more checks are carried but too thin on one side to judge

The same flag means opposite things on the two boards

The auditor drew attention to a matter is +5.3pp on mainboard and -8.7pp on SME; Profit grew faster than the operations under it is +8.9pp on mainboard and -9.3pp on SME. This is why the two boards are scored by separate engines: a check that reads as a warning on one is the opposite on the other.
887 scored issues, newest first. Tap a column heading to sort.
IssueListedApply scoreBasisListing gainSize, Cr
Acme India Industries Ltd.2026-10-1117.3pre-book116
Paramount Syntex Ltd.2026-10-1115.3pre-book78
TNA Solutions Ltd.2026-10-1121.4pre-book36
Dove Soft Ltd.2026-10-1023.2pre-book70
Eventions Ltd.2026-10-1020.0pre-book36
EverestIMS Technologies Ltd.2026-10-1042.1pre-book46
Nityas Gems \u0026 Jewellery Ltd.2026-10-1031.0pre-book108
Omara Ventures India Ltd.2026-10-1031.4pre-book40
SJP Ultrasonics Ltd.2026-10-1023.4pre-book22
Shree TNB Polymers Ltd.2026-10-1015.5pre-book30
Sollfege Smart Electronics Ltd.2026-10-1014.1pre-book21
Vishal Nirmiti Ltd.2026-10-1020.7pre-book178
Black Opal Consultants Ltd.2026-10-0620.3pre-book52
Papadmalji Agro Foods Ltd.2026-10-0614.9pre-book19
Vans Electroengineerings Ltd.2026-10-0667.5pre-book32
Acme Universal Safezone 9 Ltd.2026-10-0513.8pre-book34
Pind Hospitality Ltd.2026-10-0514.8pre-book17
SRIT India Ltd.2026-10-0544.8pre-book218
Shah Investor's Home Ltd.2026-10-0522.8pre-book90
Shivchem Agro Ltd.2026-10-0517.5pre-book13
Acevector Ltd.2026-10-0422.0live420
Bench Mark Infotech Services Ltd.2026-10-0432.0live40
Dudani Retail Ltd.2026-10-0417.4live10
German Green Steel \u0026 Power Ltd.2026-10-0425.6live304
Himalayan Solar Ltd.2026-10-0411.9live65
Orient Cables (India) Ltd.2026-10-0441.1live552
Runwal Enterprises Ltd.2026-10-0422.4live500
Sai Urja Indo Ventures Ltd.2026-10-0421.6live23
A-One Steels India Ltd.2026-10-0329.9live405
Green Asia Impex Ltd.2026-10-035.6live57
Moneyview Ltd.2026-10-0342.7live1092
Peshwa Wheat Ltd.2026-10-0330.4live51
Roopa Screen Ltd.2026-10-0346.5live18
Adroit Industries (India) Ltd.2026-09-3061.1live151
ArMee Infotech Ltd.2026-09-3020.8live300
Coreintegra Consulting Services Ltd.2026-09-3016.9live21
Elevate Campuses Ltd.2026-09-3012.3live2100
Liqvd Digital India Ltd.2026-09-3019.9live39
Pooja Logistics Ltd.2026-09-3020.3live42
S.K.Offset Ltd.2026-09-3021.9live28
Swastika Infra Ltd.2026-09-3033.6live161
Unitec Fibres Ltd.2026-09-3021.0live33
Anand Seamless Ltd.2026-09-2920.5live24
Himalaya Nutravedics India Ltd.2026-09-2923.4live25
Varmora Granito Ltd.2026-09-2915.8live708
FX Multitech Ltd.2026-09-2831.4live43
Robokidz Eduventures Ltd.2026-09-2867.1live29
Vivekanand Cotspin Ltd.2026-09-2814.5live21
Axiom Gas Engineering Ltd.2026-09-2723.5live+0.1%48
Kheria Autocomp Ltd.2026-09-2633.4live+2.0%44
National Stock Exchange of India Ltd.2026-09-2636.1live+1.9%22563
Sonaselection India Ltd.2026-09-2617.4live+8.5%142
SpectraA Technology Solutions Ltd.2026-09-2661.4live+99.5%40
Hero Motors Ltd.2026-09-2331.3live+17.1%1000
Jindal Supreme (India) Ltd.2026-09-2360.5live+35.5%125
SS Retail Ltd.2026-09-2365.8live+76.6%500
Manika Plastech Ltd.2026-09-2143.3live+0.3%126
Veegaland Developers Ltd.2026-09-1832.5live+4.5%210
LCC Projects Ltd.2026-09-1761.6live+16.5%427
Karamtara Engineering Ltd.2026-09-1762.3live+38.6%875
Rentomojo Ltd.2026-09-1764.0live+32.2%1256
Asset Reconstruction Co.(India) Ltd.2026-09-1742.4live-1.4%733
Manipal Payment & Identity Solutions Ltd.2026-09-1721.8live+1.8%805
Steamhouse India Ltd.2026-09-1750.9live+26.6%414
Glass Wall Systems (India) Ltd.2026-09-1668.2live+18.1%428
Prasol Chemicals Ltd.2026-09-1633.8live-0.7%500
Kanohar Electricals Ltd.2026-09-1673.4live+18.9%1056
Pranav Constructions Ltd.2026-09-1569.5live+6.5%351
Rays of Belief Ltd.2026-09-0856.5live-4.5%125
Deepa Jewellers Ltd.2026-09-0853.2live+9.8%460
Purple Style Labs Ltd.2026-09-0712.6live-1.1%680
ESDS Software Solution Ltd.2026-09-0477.1live+111.8%720
Priority Jewels Ltd.2026-09-0457.1live+20.8%92
Lumino Industries Ltd.2026-09-0369.2live+34.5%700
Annu Projects Ltd.2026-09-0228.4live-23.6%175
Symbiotec Pharmalab Ltd.2026-09-0162.7live+11.1%1757
Skyways Air Services Ltd.2026-09-0160.3live-9.0%583
Hy-Tech Engineers Ltd.2026-09-0172.6live+48.6%136
Augmont Enterprises Ltd.2026-08-3178.5live+15.2%825
Tempsens Instruments (India) Ltd.2026-08-2878.4live+95.5%650
Gaja Alternative Asset Management Ltd.2026-08-2643.8live+5.4%550
Sunshine Pictures Ltd.2026-08-2564.4live+2.6%282
Shankesh Jewellers Ltd.2026-08-2525.0live+2.0%367
Lalithaa Jewellery Mart Ltd.2026-08-2459.3live+23.6%1700
Horizon Industrial Parks Ltd.2026-08-2420.8live-3.1%2600
Behari Lal Engineering Ltd.2026-08-1965.0live+76.2%302
Shiprocket Ltd.2026-08-1960.9live+47.9%1617
Milky Mist Dairy Food Ltd.2026-08-1860.5live+29.6%1553
Molbio Diagnostics Ltd.2026-08-1762.1live+29.1%940
Dhoot Transmission Ltd.2026-08-1765.8live+36.3%3067
Technocraft Ventures Ltd.2026-08-1446.1live+46.8%252
LEAP India Ltd.2026-08-1435.1live-8.8%2480
Ardee Industries Ltd.2026-08-1269.8live+26.6%426
Juniper Green Energy Ltd.2026-08-0630.2live+15.4%1800
MV Electrosystems Ltd.2026-08-0667.8live+46.8%290
Manipal Health Enterprises Ltd.2026-08-0530.9live+13.0%9275
Cube Highways Trust2026-07-3130.9live+3.3%5000
Indo-MIM Ltd.2026-07-3066.8live+52.9%3812
Lohia Corp Ltd.2026-07-3029.3live+16.4%1101
Xtranet Technologies Ltd.2026-07-3042.6live+1.7%167
Caliber Mining & Logistics Ltd.2026-07-2466.7live+24.6%450
Alpine Texworld Ltd.2026-07-218.9live-5.0%126
SBI Funds Management Ltd.2026-07-2159.3live+6.2%9795
Laser Power & Infra Ltd.2026-07-1648.0live+22.6%742
Kusumgar Ltd.2026-07-1573.7live+43.9%650
Knack Packaging Ltd.2026-07-0862.5live+7.6%440
Aastha Spintex Ltd.2026-07-0624.5live+0.4%170
CSM Technologies Ltd.2026-07-0218.5live-5.0%146
Waterways Leisure Tourism Ltd.2026-07-0120.4live-17.3%585
Advit Jewels Ltd.2026-07-0169.4live+30.0%165
Turtlemint Fintech Solutions Ltd.2026-06-2913.6live-10.9%883
Hexagon Nutrition Ltd.2026-06-1253.0live+18.2%139
CMR Green Technologies Ltd.2026-06-1074.0live+25.6%631
Bagmane Prime Office REIT2026-05-1435.5live+3.6%3405
OnEMI Technology Solutions Ltd.2026-05-0829.7live+22.0%926
Citius Transnet Investment Trust2026-04-2913.8pre-book+6.2%1105
Property Share Investment Trust-Propshare Ce2026-04-2412.8pre-book-1.4%245
Om Power Transmission Ltd.2026-04-1731.5live+10.5%150
Powerica Ltd.2026-04-027.8live-1.3%1100
Sai Parenteral's Ltd.2026-04-0216.1live+3.5%409
Amir Chand Jagdish Kumar (Exports) Ltd.2026-04-0226.5live-15.1%440
Central Mine Planning & Design Institute Ltd2026-03-3014.3live-10.4%1841
GSP Crop Science Ltd.2026-03-2415.2live+11.3%400
Raajmarg Infra Investment Trust2026-03-2414.5live+0.0%6000
Innovision Ltd.2026-03-2320.9live-27.9%319
Rajputana Stainless Ltd.2026-03-1914.4live-7.3%255
SEDEMAC Mechatronics Ltd.2026-03-1127.4live+7.3%1087
Omnitech Engineering Ltd.2026-03-0518.1live-9.7%583
PNGS Reva Diamond Jewellery Ltd.2026-03-048.4live+6.7%380
Shree Ram Twistex Ltd.2026-03-0231.2live-31.4%110
Clean Max Enviro Energy Solutions Ltd.2026-03-028.3live-17.6%3080
Gaudium IVF & Women Health Ltd.2026-02-2725.4live+1.6%165
Aye Finance Ltd.2026-02-16-3.1live-0.1%1010
Fractal Analytics Ltd.2026-02-1619.4live-5.9%2834
Shadowfax Technologies Ltd.2026-01-2814.3live-11.3%1907
Amagi Media Labs Ltd.2026-01-2136.8live-3.5%1789
Bharat Coking Coal Ltd.2026-01-1968.5live+76.4%1069
Gujarat Kidney & Super Speciality Ltd.2025-12-3018.8live-8.3%251
KSH International Ltd.2025-12-2311.0live-7.5%626
ICICI Prudential Asset Management Co.Ltd.2025-12-1949.6live+19.4%10603
Park Medi World Ltd.2025-12-1730.1live-8.7%920
Nephrocare Health Services Ltd.2025-12-1731.3live+2.5%871
Corona Remedies Ltd.2025-12-1569.2live+35.4%655
Wakefit Innovations Ltd.2025-12-1518.4live-1.4%1289
Vidya Wires Ltd.2025-12-1037.3live+2.2%300
Aequs Ltd.2025-12-1063.9live+22.0%922
Meesho Ltd.2025-12-1054.8live+53.2%5421
Sudeep Pharma Ltd.2025-11-2856.5live+30.6%895
Excelsoft Technologies Ltd.2025-11-2641.8live+5.0%500
Capillary Technologies India Ltd.2025-11-2142.6live+5.1%878
Fujiyama Power Systems Ltd.2025-11-2028.9live-8.6%828
Tenneco Clean Air India Ltd.2025-11-1951.6live+23.6%3600
PhysicsWallah Ltd.2025-11-1819.0live+42.4%3480
Emmvee Photovoltaic Power Ltd.2025-11-1818.6live+1.1%2900
Pine Labs Ltd.2025-11-1420.4live+13.5%3900
Billionbrains Garage Ventures Ltd.2025-11-1236.2live+31.3%6632
Lenskart Solutions Ltd.2025-11-1046.1live+0.3%7278
Studds Accessories Ltd.2025-11-0750.5live-4.2%455
Orkla India Ltd.2025-11-0646.4live-2.2%1667
Midwest Ltd.2025-10-2461.6live+7.1%451
Canara HSBC Life Insurance Co.Ltd.2025-10-1721.8live+5.1%2516
Rubicon Research Ltd.2025-10-1657.5live+29.5%1378
Canara Robeco Asset Management Co.Ltd.2025-10-1627.7live+12.9%1326
Anantam Highways Trust2025-10-160.6pre-book+5.4%400
LG Electronics India Ltd.2025-10-1450.3live+48.2%11605
Tata Capital Ltd.2025-10-1323.1live+1.4%15512
WeWork India Management Ltd.2025-10-104.4live-3.0%3000
Advance Agrolife Ltd.2025-10-0842.7live+8.3%193
Om Freight Forwarders Ltd.2025-10-0818.6live-36.6%122
Glottis Ltd.2025-10-0721.1live-35.1%307
Fabtech Technologies Ltd.2025-10-0712.4live-4.5%230
Pace Digitek Ltd.2025-10-0624.7live-0.5%819
Trualt Bioenergy Ltd.2025-10-0350.7live+7.0%839
Jinkushal Industries Ltd.2025-10-0348.6live+0.6%116
Epack Prefab Technologies Ltd.2025-10-0118.7live-6.5%504
BMW Ventures Ltd.2025-10-0110.2live-25.1%232
Jain Resource Recycling Ltd.2025-10-0133.4live+37.1%1250
Anand Rathi Share & Stock Brokers Ltd.2025-09-3028.0live+7.6%745
Seshaasai Technologies Ltd.2025-09-3051.6live-2.7%813
Jaro Institute of Technology Management & Re2025-09-3036.7live-16.4%450
Solarworld Energy Solutions Ltd.2025-09-3048.4live-7.8%490
Atlanta Electricals Ltd.2025-09-2950.4live+9.2%687
Ganesh Consumer Products Ltd.2025-09-2914.4live-8.6%409
GK Energy Ltd.2025-09-2656.1live+9.6%464
Saatvik Green Energy Ltd.2025-09-2630.5live-5.2%900
Ivalue Infosolutions Ltd.2025-09-2510.8live-5.7%560
VMS TMT Ltd.2025-09-2445.7live+0.7%148
Euro Pratik Sales Ltd.2025-09-2317.0live+0.6%451
Shringar House of Mangalsutra Ltd.2025-09-1743.5live+12.1%401
Dev Accelerator Ltd.2025-09-1741.9live+5.0%143
Urban Co.Ltd.2025-09-1762.8live+62.0%1900
Amanta Healthcare Ltd.2025-09-0942.2live+12.5%126
Anlon Healthcare Ltd.2025-09-0322.7live+0.8%121
Vikran Engineering Ltd.2025-09-0327.4live-1.3%772
Mangal Electrical Industries Ltd.2025-08-2826.3live-4.6%400
Shreeji Shipping Global Ltd.2025-08-2648.3live+1.2%411
Gem Aromatics Ltd.2025-08-2631.0live-1.8%451
Vikram Solar Ltd.2025-08-2645.7live+7.3%2079
Patel Retail Ltd.2025-08-2644.1live+12.8%243
Regaal Resources Ltd.2025-08-2053.7live+29.0%306
BlueStone Jewellery & Lifestyle Ltd.2025-08-1910.4live+5.6%1541
Knowledge Realty Trust2025-08-1814.4live+6.2%4800
All Time Plastics Ltd.2025-08-1424.2live+3.0%401
JSW Cement Ltd.2025-08-1421.7live-0.6%3600
Highway Infrastructure Ltd.2025-08-1262.0live+72.5%130
Sri Lotus Developers & Realty Ltd.2025-08-0661.2live+30.4%792
M&B Engineering Ltd.2025-08-0634.1live+6.1%650
National Securities Depository Ltd.2025-08-0647.9live+17.0%4011
Laxmi India Finance Ltd.2025-08-0510.8live-15.1%254
Aditya Infotech Ltd.2025-08-0553.6live+60.4%1300
Property Share Investment Trust-PropShare Ti2025-08-0423.0pre-book+0.1%473
Shanti Gold International Ltd.2025-08-0154.2live+15.3%360
Brigade Hotel Ventures Ltd.2025-07-3119.6live-5.2%760
Indiqube Spaces Ltd.2025-07-3025.2live-8.0%700
GNG Electronics Ltd.2025-07-3065.0live+40.7%460
Anthem Biosciences Ltd.2025-07-2150.8live+28.1%3395
Smartworks Coworking Spaces Ltd.2025-07-1731.4live+9.3%583
Travel Food Services Ltd.2025-07-1419.8live-2.3%2000
Crizac Ltd.2025-07-0949.2live+25.6%860
Indogulf Cropsciences Ltd.2025-07-0330.1live-0.6%200
Sambhv Steel Tubes Ltd.2025-07-0233.2live+19.0%540
HDB Financial Services Ltd.2025-07-0226.3live+13.6%12500
Globe Civil Projects Ltd.2025-07-0154.1live+33.0%119
Ellenbarrie Industrial Gases Ltd.2025-07-0132.1live+33.6%853
Kalpataru Ltd.2025-07-0110.4live+4.6%1590
Arisinfra Solutions Ltd.2025-06-2512.7live-21.4%500
Oswal Pumps Ltd.2025-06-2039.7live+1.9%1387
Scoda Tubes Ltd.2025-06-0444.4live+5.0%220
Prostarm Info Systems Ltd.2025-06-0348.7live+20.0%168
Aegis Vopak Terminals Ltd.2025-06-0217.6live+3.0%2800
Schloss Bangalore Ltd.2025-06-0210.5live+0.1%3500
Belrise Industries Ltd.2025-05-2830.9live+8.2%2150
Borana Weaves Ltd.2025-05-2752.5live+18.1%145
Ather Energy Ltd.2025-05-065.8live-5.8%2981
Quality Power Electrical Equipments Ltd.2025-02-2411.0live-8.7%859
Hexaware Technologies Ltd.2025-02-1911.5live+7.7%8750
Ajax Engineering Ltd.2025-02-1724.2live-5.3%1269
Dr.Agarwal's Health Care Ltd.2025-02-0411.7live-0.1%3027
Denta Water & Infra Solutions Ltd.2025-01-2962.1live+16.1%220
Stallion India Fluorochemicals Ltd.2025-01-2355.8live+40.0%199
Laxmi Dental Ltd.2025-01-2060.4live+28.6%698
Capital Infra Trust2025-01-17-6.6live+0.0%1578
Quadrant Future Tek Ltd.2025-01-1466.8live+53.1%290
Standard Glass Lining Technology Ltd.2025-01-1370.5live+16.7%410
Indo Farm Equipment Ltd.2025-01-0760.9live+27.3%260
Unimech Aerospace & Manufacturing Ltd.2024-12-3181.2live+75.3%500
Ventive Hospitality Ltd.2024-12-3025.0live+9.5%1600
Carraro India Ltd.2024-12-306.7live-9.6%1250
Senores Pharmaceuticals Ltd.2024-12-3053.8live+42.7%582
Transrail Lighting Ltd.2024-12-2762.2live+28.1%839
Concord Enviro Systems Ltd.2024-12-2727.0live+18.0%500
Sanathan Textiles Ltd.2024-12-2730.9live+21.0%550
DAM Capital Advisors Ltd.2024-12-2763.3live+46.7%840
Mamata Machinery Ltd.2024-12-2765.6live+159.3%179
International Gemmological Institute (India)2024-12-2042.2live+13.0%4225
Inventurus Knowledge Solutions Ltd.2024-12-1951.1live+47.5%2498
Vishal Mega Mart Ltd.2024-12-1834.8live+43.5%8000
Sai Life Sciences Ltd.2024-12-1824.1live+39.3%3043
One Mobikwik Systems Ltd.2024-12-1858.8live+89.2%572
Property Share Investment Trust-PropShare Pl2024-12-102.7pre-book-0.1%353
Suraksha Diagnostic Ltd.2024-12-066.7live+0.0%846
Enviro Infra Engineers Ltd.2024-11-2959.6live+39.9%650
NTPC Green Energy Ltd.2024-11-2723.2live+12.6%10000
Zinka Logistics Solutions Ltd.2024-11-227.7live-4.7%1115
Niva Bupa Health Insurance Co.Ltd.2024-11-1410.0live+0.0%2200
Swiggy Ltd.2024-11-1317.7live+16.9%11327
ACME Solar Holdings Ltd.2024-11-1316.6live-12.4%2900
Sagility India Ltd.2024-11-1216.8live-2.3%2106
Afcons Infrastructure Ltd.2024-11-0422.7live+2.4%5430
Godavari Biorefineries Ltd.2024-10-304.6live-2.5%555
Waaree Energies Ltd.2024-10-2862.5live+55.6%4321
Deepak Builders & Engineers India Ltd.2024-10-2841.5live-20.2%260
Hyundai Motor India Ltd.2024-10-2214.3live-7.2%27859
Garuda Construction & Engineering Ltd.2024-10-159.8live+12.0%264
Diffusion Engineers Ltd.2024-10-0456.1live+20.9%158
KRN Heat Exchanger & Refrigeration Ltd.2024-10-0372.4live+117.6%342
Manba Finance Ltd.2024-09-3061.7live+31.2%151
Western Carriers (India) Ltd.2024-09-2435.2live-7.3%493
Arkade Developers Ltd.2024-09-2466.3live+29.6%410
Northern Arc Capital Ltd.2024-09-2449.4live+23.0%777
P N Gadgil Jewellers Ltd.2024-09-1757.0live+65.3%1100
Bajaj Housing Finance Ltd.2024-09-1658.0live+135.7%6560
Kross Ltd.2024-09-1633.3live+8.2%500
Tolins Tyres Ltd.2024-09-1639.9live+5.9%230
Shree Tirupati Balajee Agro Trading Co.Ltd.2024-09-1253.4live+13.9%170
Gala Precision Engineering Ltd.2024-09-0968.6live+43.1%168
Baazar Style Retail Ltd.2024-09-0634.6live+2.8%835
ECOS (India) Mobility & Hospitality Ltd.2024-09-0459.9live+32.7%601
Premier Energies Ltd.2024-09-0373.0live+86.6%2830
Orient Technologies Ltd.2024-08-2861.2live+46.8%215
Interarch Building Products Ltd.2024-08-2658.1live+32.9%600
Saraswati Saree Depot Ltd.2024-08-2058.5live+27.3%160
Unicommerce eSolutions Ltd.2024-08-1369.7live+94.5%277
Brainbees Solutions Ltd.2024-08-1330.2live+46.0%4194
Ola Electric Mobility Ltd.2024-08-0927.1live+20.0%6146
Ceigall India Ltd.2024-08-0837.2live-3.5%1253
Akums Drugs & Pharmaceuticals Ltd.2024-08-0652.0live+17.3%1857
Sanstar Ltd.2024-07-2657.9live+21.1%510
Emcure Pharmaceuticals Ltd.2024-07-1054.9live+34.8%1952
Bansal Wire Industries Ltd.2024-07-1053.4live+36.9%745
Vraj Iron & Steel Ltd.2024-07-0354.9live+21.7%171
Allied Blenders & Distillers Ltd.2024-07-0242.2live+13.1%1500
Stanley Lifestyles Ltd.2024-06-2864.8live+28.7%537
DEE Development Engineers Ltd.2024-06-2658.9live+65.2%418
Akme Fintrade (India) Ltd.2024-06-2644.3live+11.1%132
Le Travenues Technology Ltd.2024-06-1860.2live+78.2%740
Kronox Lab Sciences Ltd.2024-06-1053.3live+17.1%130
Awfis Space Solutions Ltd.2024-05-3061.0live+10.1%599
Go Digit General Insurance Ltd.2024-05-2326.5live+12.5%2615
TBO Tek Ltd.2024-05-1564.7live+52.9%1551
Aadhar Housing Finance Ltd.2024-05-1539.5live+4.6%3000
Indegene Ltd.2024-05-1364.0live+26.3%1842
JNK India Ltd.2024-04-3041.6live+67.4%649
Vodafone Idea Ltd.2024-04-2522.4pre-book+26.4%18000
Bharti Hexacom Ltd.2024-04-1241.8live+42.7%4275
SRM Contractors Ltd.2024-04-0360.2live+7.6%130
Krystal Integrated Services Ltd.2024-03-2134.0live-0.3%300
Popular Vehicles & Services Ltd.2024-03-1913.3live-6.4%602
Gopal Snacks Ltd.2024-03-1437.4live-9.6%650
J.G.Chemicals Ltd.2024-03-1344.0live-16.4%251
R K SWAMY Ltd.2024-03-1240.4live-8.8%424
Bharat Highways InvIT2024-03-128.5live+3.0%2500
Mukka Proteins Ltd.2024-03-0767.8live+50.9%224
Platinum Industries Ltd.2024-03-0566.1live+29.4%235
Exicom Tele-Systems Ltd.2024-03-0565.9live+58.4%429
GPT Healthcare Ltd.2024-02-2932.2live+7.9%525
Juniper Hotels Ltd.2024-02-2815.1live+11.5%1800
Vibhor Steel Tubes Ltd.2024-02-2069.3live+195.5%72
Entero Healthcare Solutions Ltd.2024-02-1610.2live-8.6%1600
Rashi Peripherals Ltd.2024-02-1452.1live+3.4%600
Jana Small Finance Bank Ltd.2024-02-1439.3live-11.1%570
Capital Small Finance Bank Ltd.2024-02-1422.3live-7.0%523
Apeejay Surrendra Park Hotels Ltd.2024-02-1245.7live+31.3%920
BLS E-Services Ltd.2024-02-0670.7live+171.1%309
Nova AgriTech Ltd.2024-01-3162.6live+40.9%144
EPACK Durable Ltd.2024-01-3038.6live-9.7%640
Medi Assist Healthcare Services Ltd.2024-01-2331.2live+11.0%1172
Jyoti CNC Automation Ltd.2024-01-1652.1live+31.2%1000
Innova Captab Ltd.2023-12-2955.1live+20.9%570
Azad Engineering Ltd.2023-12-2867.3live+29.3%740
RBZ Jewellers Ltd.2023-12-2732.6live+5.0%100
Credo Brands Marketing Ltd.2023-12-2760.1live+11.5%550
Happy Forgings Ltd.2023-12-2767.2live+21.3%1009
Muthoot Microfin Ltd.2023-12-2640.7live-8.5%960
Motisons Jewellers Ltd.2023-12-2666.3live+88.3%151
Suraj Estate Developers Ltd.2023-12-2637.2live-7.1%400
Inox India Ltd.2023-12-2160.8live+42.4%1459
India Shelter Finance Corp.Ltd.2023-12-2048.1live+10.5%1200
DOMS Industries Ltd.2023-12-2066.3live+67.8%1200
Flair Writing Industries Ltd.2023-12-0156.1live+48.3%593
Tata Technologies Ltd.2023-11-3069.9live+162.6%3043
Gandhar Oil Refinery (India) Ltd.2023-11-3058.3live+78.3%501
Fedbank Financial Services Ltd.2023-11-3018.8live+0.2%1092
Indian Renewable Energy Development Agency L2023-11-2946.3live+87.5%2150
ASK Automotive Ltd.2023-11-1550.4live+10.0%834
Protean eGov Technologies Ltd.2023-11-1346.6live+11.5%490
ESAF Small Finance Bank Ltd.2023-11-1048.7live+15.1%463
Honasa Consumer Ltd.2023-11-0733.0live+4.0%1701
Cello World Ltd.2023-11-0651.3live+22.2%1900
Blue Jet Healthcare Ltd.2023-11-0136.2live+19.5%840
IRM Energy Ltd.2023-10-2644.3live-6.3%545
Plaza Wires Ltd.2023-10-1261.3live+48.5%71
Valiant Laboratories Ltd.2023-10-0642.8live+21.6%152
Updater Services Ltd.2023-10-0414.2live-5.4%640
JSW Infrastructure Ltd.2023-10-0347.2live+32.2%2800
Manoj Vaibhav Gems 'N' Jewellers Ltd.2023-10-0319.4live+0.2%270
Yatra Online Ltd.2023-09-286.2live-4.3%775
Sai Silks (Kalamandir) Ltd.2023-09-2722.9live+10.3%1201
Signatureglobal (India) Ltd.2023-09-2734.4live+19.1%730
SAMHI Hotels Ltd.2023-09-2217.0live+13.8%1370
Zaggle Prepaid Ocean Services Ltd.2023-09-2230.0live-3.5%563
EMS Ltd.2023-09-2156.2live+32.6%321
R R Kabel Ltd.2023-09-2041.7live+15.8%1964
Jupiter Life Line Hospitals Ltd.2023-09-1847.3live+46.4%869
Ratnaveer Precision Engineering Ltd.2023-09-1157.7live+32.0%165
Rishabh Instruments Ltd.2023-09-1142.0live+0.5%491
Vishnu Prakash R.Punglia Ltd.2023-09-0566.5live+47.2%309
Aeroflex Industries Ltd.2023-08-3165.1live+51.2%351
Pyramid Technoplast Ltd.2023-08-2941.4live+7.0%153
TVS Supply Chain Solutions Ltd.2023-08-2326.5live+2.0%880
Concord Biotech Ltd.2023-08-1850.8live+27.2%1551
SBFC Finance Ltd.2023-08-1662.2live+61.8%1025
Yatharth Hospital & Trauma Care Services Ltd2023-08-0740.0live+11.3%687
Netweb Technologies India Ltd.2023-07-2770.7live+82.1%631
Utkarsh Small Finance Bank Ltd.2023-07-2165.2live+92.0%500
Senco Gold Ltd.2023-07-1462.1live+27.9%405
Cyient DLM Ltd.2023-07-1058.1live+58.7%592
ideaForge Technology Ltd.2023-07-0770.4live+92.7%567
HMA Agro Industries Ltd.2023-07-0430.1live+0.1%480
IKIO Lighting Ltd.2023-06-1661.0live+41.7%606
Nexus Select Trust2023-05-1922.0live+4.3%3200
Mankind Pharma Ltd.2023-05-0939.4live+0.0%4326
Avalon Technologies Ltd.2023-04-1823.4live-8.7%865
Udayshivakumar Infra Ltd.2023-04-0347.9live-10.0%66
Global Surfaces Ltd.2023-03-2330.1live+22.2%155
Divgi TorqTransfer Systems Ltd.2023-03-1434.4live+2.6%412
Sah Polymers Ltd.2023-01-1238.2live+37.3%66
Radiant Cash Management Services Ltd.2023-01-0414.3live+11.6%257
Elin Electronics Ltd.2022-12-3019.7live-7.8%475
KFin Technologies Ltd.2022-12-2914.9live-0.6%1500

The live book score uses final subscription, which is published after bidding closes

Chittorgarh stamps every final figure between 18:00 and 19:00 on the close date, after retail bidding shuts at 17:00, and demand forms late: one issue went from 0.90 times at the end of day two to 32.98 times final. So the live book separation is an upper bound for the apply decision until demand as it looks on the last afternoon is measured.

Hold is not shipped

No method has separated six month or one year returns point in time. Buying at the listing close has been close to a coin flip for two years. Until that changes the product says so rather than guessing.

A score is withheld when under 35 of 100 points can be computed

95 issues have too little data to score. Every one of them is an issue the product should still say something about, and a coverage ladder is the fix.

Most of the record comes from a historic boom

2021 to 2026 carries most of the sample, and the base rate of a positive listing in that window is far above the long run. The era table is the honest read.

SME is a separate engine and has not been rebuilt on this weighting

Everything here is mainboard.
Free sources only: exchange filings and bhavcopy, prospectuses, Chittorgarh, Multibagg and IPO Watch. Not investment advice.