Insights, how-to guides, and market updates from the ipomarket.in research team.
The ₹3,405 crore Bagmane Prime Office REIT IPO closed at 23.70x — highest ever for an Indian REIT. Institutional demand exceeded 25x; non-institutional crossed 21x. Units listed May 14, 2026. Legal advisors: Shardul Amarchand Mangaldas, Cyril Amarchand Mangaldas, White & Case. Complete review.
Muthoot Fincorp's board on May 16, 2026 approved a ₹4,000 crore fresh-issue IPO alongside a 1:5 stock split (₹10 to ₹2 face value). FY26 net profit more than doubled. The Muthoot Pappachan Group's gold-loan NBFC also cleared ₹8,000 crore of debt fundraising. Complete review of the IPO, group structure, financials and investor framework.
Showing 12 of 56 articles in “IPO Review”
Temasek and Bain Capital anchor a ₹1,500 crore pre-IPO round in CleanMax Enviro Energy — India's largest C&I renewables player — ahead of its ₹3,100 crore IPO opening Feb 23, 2026. Price band ₹1,000-1,053. Complete review of business, financials, peer comparison and the investor decision framework.
Scripbox — India's leading digital wealth manager with ₹18,000+ Cr AUM across 2,500+ cities — has guided to a public listing within 18-24 months. Founded in 2012 by Atul Shinghal and Sanjiv Singhal, the Bengaluru-based wealthtech is reportedly raising $15-20M at a $200M valuation. Here is the complete pre-IPO review.
Adda247 — India's largest vernacular test-preparation edtech serving 50M+ students across Tier-2 and Tier-3 cities — has appointed bankers for an H1 2027 IPO at a likely valuation of up to $2.5 billion. With FY25 revenue of ₹240 Cr, Google and WestBridge as key investors, and a profitability-first IPO strategy, here is the complete review.
NODWIN Gaming — Nazara Technologies' esports and youth entertainment subsidiary — is preparing for an IPO within the next 2-3 years. With FY26 revenue projected at ~₹700 Cr, a $100M+ pre-IPO round underway, and the appointment of former Nazara CEO Manish Agarwal to its board, here is the complete pre-IPO review.
Simca Advertising — Mumbai's fast-growing Out-of-Home (OOH) media company — closed its ₹58 Cr NSE SME IPO at a stunning 80.88x subscription and listed on May 15, 2026. With FY25 revenue of ₹75.09 Cr and net profit of ₹9.98 Cr, here is the complete IPO review, GMP trajectory and post-listing outlook.
Surgiwear — a Uttar Pradesh-based domestic manufacturer of orthopaedic implants, hydrocephalus shunts and sterile surgical drapes — received SEBI approval on May 4, 2026 for a ~₹740 crore IPO comprising a ₹370 crore fresh issue and a ₹370 crore OFS by promoter Ghanshyam Das Agarwal. With India's medical-devices market on a structural growth trajectory, here is the complete review.
Crystal Crop Protection — an IFC-backed integrated agri-solutions platform with agrochemicals, hybrid seeds and natural crop protection — received SEBI approval on May 4, 2026 for a ₹600 crore fresh issue plus an OFS of 74 lakh shares by IFC and IFC Emerging Asia Fund. IIFL Capital Services is the lead manager. Here is the complete review.
Hotel Polo Towers — operator of upscale and midscale hotels under the Polo and Max brands across northeast, east and north India — received SEBI approval in May 2026 for a ₹300 crore fresh issue plus an OFS of 71.2 lakh shares. With Northeast India's tourism on a structural up-cycle, here is the complete review.
Horizon Industrial Parks — Blackstone's flagship Indian Grade-A warehousing platform with 60M+ sq ft across 10 cities — received SEBI approval on May 5, 2026 for a ₹2,600 crore pure fresh-issue IPO. Of the proceeds, ₹2,250 Cr will go to debt repayment. JM Financial is the lead manager. Here is the complete review.
Dhoot Transmission — a Bain Capital-backed manufacturer of complex wiring harnesses, electronic sensors and automotive switches for global 2-wheeler and commercial-vehicle OEMs — received SEBI approval on May 5, 2026 for a ~₹2,258 crore ($250M) IPO. Filed via the confidential route in February 2026, the offering combines a fresh issue with an OFS by existing investors. Here is the complete review.
