What happened
Five companies have lined up stock market debuts between 21 and 23 October 2026, according to Economic Times reports. The issues range from a small SME offering of ₹42.10 crore to one of ₹5,012.33 crore.
Vaibhav Vyapaar (21 October)
Vaibhav Vyapaar was scheduled to list on the NSE SME platform on 21 October. The ₹42.10 crore issue was subscribed 2.27 times. Economic Times reported a grey market premium (an unofficial price gap at which shares trade before listing) of around 6%. The non-banking finance company plans to use ₹32 crore of the proceeds to strengthen its capital base.
Ravita Engineering Services (22 October)
Ravita Engineering Services was set to debut on the NSE SME platform on Thursday, 22 October, with a grey market premium of around 1%. Its ₹116.05 crore IPO was priced at ₹105 to ₹112 per share and subscribed 7.11 times overall. Qualified institutional buyers bid 13.21 times their quota, non-institutional investors 7.42 times and individual investors 3.50 times.
Three listings on 23 October
Sahajanand Medical Technologies, Bonfiglioli Transmissions and Zetwerk Manufacturing Business are due to list today.
- Sahajanand Medical Technologies: the ₹475.48 crore IPO is entirely an offer for sale (OFS) of 1.38 crore shares.
- Bonfiglioli Transmissions: the ₹2,533.66 crore IPO is an OFS of 4.32 crore shares, with no fresh issue.
- Zetwerk Manufacturing Business: the ₹5,012.33 crore IPO has a fresh issue worth ₹2,830 crore and an OFS of 14.45 crore shares worth about ₹2,182 crore.
What it means for you
In an OFS, existing shareholders sell their stake to new investors, so the money goes to the sellers and not the company. That is the case for Sahajanand and Bonfiglioli. In Zetwerk’s IPO, the fresh issue proceeds go to the company, while the OFS proceeds go to the selling shareholders.
A grey market premium is unofficial and does not guarantee where a share will open or trade. Subscription figures show demand during the offer, not how the stock will perform after listing.
Background
An initial public offering (IPO) is when a company sells shares to the public for the first time and gets them listed on an exchange. SME platforms are meant for smaller companies, which is why issues like Vaibhav Vyapaar’s are far smaller than Zetwerk’s.
