IPO Market — India IPO tracker
🔒 PRE-IPO INTELLIGENCE

Unlisted & Pre-IPO Shares Price Tracker

Indicative OTC market prices for 25+ companies before they go public. Track DRHP status, expected IPO dates and company financials.

25+

Companies Tracked

15

With IPO Pipeline

6

DRHP Filed

Daily

Updated

Disclaimer: Prices shown are indicative OTC (over-the-counter) market rates sourced from unlisted share dealers. These are NOT official exchange prices. Investing in unlisted shares carries significant risk including illiquidity. This is for informational purposes only — not investment advice.

Showing 25 companies

CompanySectorPriceChange52W High52W LowStatus
Technology & IT₹8530.0%₹950₹720DRHP FiledView
PhonePe

PHONEPE

Banking & FinanceDRHP FiledView
Manufacturing₹4252.1%₹520₹380DRHP FiledView
Consumer & RetailDRHP FiledView
Banking & Finance₹8585.3%₹850₹620DRHP FiledView
Banking & FinanceDRHP FiledView
Consumer & Retail₹252.0%₹35₹18Confidential DRHPView
Technology & IT₹392.5%₹62₹38Confidential DRHPView
Flipkart

FLIPKART

Technology & ITIPO ExpectedView
Banking & Finance₹2,1155.0%₹2,100₹1,650IPO ExpectedView
Technology & ITIPO ExpectedView
Power & Energy₹11868.6%₹75₹42IPO ExpectedView
Technology & IT₹4858.3%₹520₹350IPO ExpectedView
Power & Energy₹7250.0%₹800₹590IPO ExpectedView
Technology & IT₹520.0%₹75₹45IPO ExpectedView
Media & Entertainment₹2543.8%₹320₹195No IPO DateView
Banking & Finance₹8953.2%₹1,050₹780No IPO DateView
Infrastructure & Construction₹4584.6%₹490₹380No IPO DateView
Manufacturing₹8950.0%₹950₹780No IPO DateView
Agriculture₹2,7503.5%₹3,200₹2,400No IPO DateView
Banking & Finance₹12.255.4%₹18₹10No IPO DateView
Banking & Finance₹5.951.7%₹9.5₹5.8No IPO DateView
Banking & Finance₹3645.2%₹420₹290No IPO DateView
Healthcare & Pharma₹5.60.0%₹12₹4.5No IPO DateView
Manufacturing₹1,2500.0%₹1,380₹1,050No IPO DateView

🚀 IPO Pipeline — Companies with Active DRHP

Companies that have filed Draft Red Herring Prospectus (DRHP) with SEBI and are expected to list soon.

CompanyStatusExpected IPOEst. ValuationUnlisted PriceDRHP
boAt (Imagine Marketing)

Technology & IT

DRHP FiledQ2-Q3 2026₹12,000 Cr₹853
PhonePe

Banking & Finance

DRHP FiledH2 2026₹1,25,000 CrView PDF →
OYO (Oravel Stays)

Consumer & Retail

Confidential DRHPH2 2026₹55,000 Cr₹25
Zepto (Kiranakart Technologies)

Technology & IT

Confidential DRHPH2 2026₹50,000 Cr₹39
Garuda Aerospace

Manufacturing

DRHP FiledLate 2026₹4,500 Cr₹425
Milky Mist Dairy Food

Consumer & Retail

DRHP FiledQ3 2026₹10,000 Cr
SBI Funds Management

Banking & Finance

DRHP FiledQ3 2026₹80,000 Cr₹858View PDF →
Tata Capital

Banking & Finance

DRHP FiledQ3 2026₹1,20,000 Cr

What are Unlisted Shares?

Unlisted shares are equity shares of companies not yet traded on NSE or BSE. They trade in an over-the-counter (OTC) market between dealers and investors. In India, popular unlisted shares include NSE itself, Chennai Super Kings (CSK), Indian Potash, and pre-IPO startups like Zepto and OYO.

Pre-IPO vs Unlisted Shares

Unlisted Shares

The broader category — any share not traded on a public exchange. Includes companies with no IPO plans.

Pre-IPO Shares

A subset — unlisted shares of companies that have filed (or are expected to file) for an IPO soon. Investors hold for listing gains after the 6-12 month lock-in.

How are Unlisted Share Prices Determined?

Unlisted share prices are driven by demand-supply dynamics in the OTC market. Dealers maintain buy and sell quotes (similar to a bid-ask spread). Prices move based on:

Company performance
IPO news & DRHP filings
Comparable listed peers
Funding rounds
Promoter activity
Broader market sentiment

⚠️ Since there is no central exchange, prices can vary between dealers by 2-5%.

⚠️ Risks of Investing in Unlisted Shares

!
Illiquidity: Selling may take days or weeks vs. seconds on the exchange.
!
Price opacity: No real-time, exchange-verified pricing — quotes vary by dealer.
!
Limited disclosure: Financial data is less transparent than for listed companies.
!
Lock-in after listing: Pre-IPO shares carry a 6-12 month lock-in once the company lists.
!
No SEBI trading protection: OTC transactions are not protected by SEBI investor protection rules.

How to Buy Unlisted Shares in India

1

Complete KYC

Register and complete KYC with a SEBI-registered unlisted shares platform (UnlistedZone, Altius Investech, Precize).

2

Choose company & quantity

Select the company and quantity (subject to minimum lot size set by the dealer).

3

Transfer payment

Pay via NEFT/RTGS to the platform's registered bank account.

4

Receive shares in demat

Shares are transferred to your demat account via off-market transfer (CDSL/NSDL). Takes 1-3 days.

5

Hold or sell

Hold in your demat and sell back via the platform, or wait for the IPO listing.

Frequently Asked Questions

What are unlisted shares?

Unlisted shares are equity shares of companies not traded on NSE or BSE. They are bought and sold over-the-counter through dealers or platforms. Companies like NSE, Zepto, and CSK have unlisted shares that trade at prices reflecting their estimated private market value.

How are unlisted share prices determined?

Unlisted share prices are determined by supply and demand between OTC dealers and investors. There is no central exchange — prices are negotiated. Published prices on platforms like UnlistedZone or SharesCart are indicative dealer quotes, not official exchange prices.

Are unlisted shares safe to invest in?

Unlisted shares carry higher risk than listed shares. Key risks include: low liquidity (hard to sell quickly), limited financial disclosure, no SEBI trading protection, and price opacity. Only invest amounts you can afford to hold long-term.

What happens to unlisted shares when the company does an IPO?

When a company lists via IPO, your unlisted shares become listed shares. They are subject to a 6-month lock-in period (1 year for pre-IPO investors). After the lock-in, you can sell freely on the exchange. Listing gains can be significant if the IPO is oversubscribed.

What is the minimum investment in unlisted shares?

Minimum investment varies by company. Some like PharmEasy require 1,000 shares (₹6,250), while NSE requires minimum 25 shares (₹50,000). Most dealers set minimums to ensure ticket sizes of ₹10,000-50,000 per transaction.

How do I buy unlisted shares in India?

You can buy unlisted shares through SEBI-registered intermediaries and platforms like UnlistedZone, Altius Investech, SharesCart, or Precize. The process involves KYC verification, payment transfer, and off-market share transfer to your demat account via CDSL/NSDL.

Is NSE unlisted share a good investment?

NSE's IPO has been anticipated for years. At ₹1,999 per share, the implied valuation is ~₹4 lakh crore. NSE is highly profitable (₹8,305 Cr PAT in FY25) but the IPO timeline remains unclear due to regulatory requirements. This is informational only — not investment advice.