India’s IPO scene is slowing down as the year closes, with only one fresh issue opening for subscription and a dozen companies preparing to list.
Only One New IPO in the Final Week
Modern Diagnostic and Research Centre will launch a Rs 37 crore SME IPO on December 31, closing on January 2. The shares are priced between Rs 85 and Rs 90, valuing the diagnostics chain at roughly Rs 136 crore. The company runs 21 centres across eight states and posted a 55% profit jump in FY25, thanks to an asset‑light model.
11 Companies Set to List Next Week
While fresh fundraising is thin, the market’s focus shifts to the 11 firms that will debut, most on SME platforms. Grey‑market pricing shows mixed optimism:
- Shyam Dhani Industries – spices maker, GMP around 100%, hinting at a potential 2× gain on debut after a 988× subscription.
- E to E Transportation Infrastructure – rail‑systems player, GMP 75‑80% supported by a strong order book.
- Gujarat Kidney and Super Speciality – the sole main‑board debut, Rs 251 crore issue, subscribed 5.2 times, trading at a flat GMP despite strong profit growth.
- Other listings show modest or flat premiums, indicating a cautious tone despite heavy oversubscription in some cases.
Looking Ahead to 2026
Momentum is expected to pick up early next year. Over Rs 2 lakh crore of IPOs have already been approved or are awaiting clearance, including big names like Reliance Jio and PhonePe. Market participants anticipate a surge once trading resumes fully in January.
Coal India plans to sell about 10% of its stake in Bharat Coking Coal (BCCL) through a pure offer‑for‑sale, translating to roughly 46.57 crore shares. No fresh shares will be issued, so proceeds will go to the parent company.
Potential near‑term listings also include Fractal – touted as India’s first AI‑focused IPO – and Hero Fincorp, a leading NBFC.
Investor Takeaway
The end‑of‑year lull is likely temporary. Keep an eye on the upcoming SME listings for short‑term trading ideas, but also prepare for a wave of larger, high‑profile IPOs in early 2026.
Remember, this is perspective, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.