Individual investors who apply to A company's first offer of its shares to the public, after which the shares are listed on a stock exchange and can be bought or sold by any investor. Read the full meaning of IPO go through a checklist before they bid, and the checklist matters more when several issues are open at the same time, as was the case in the last week of September 2026. Moneyview and A‑One Steels India have both opened for subscription on 24 September and will remain open until 28 September.
Moneyview has decided a price range of Rs 32 to Rs 34 per share for an issue totalling about Rs 1,092 crore, as mentioned by HDFC Sky. A-One Steels India has set a price of Rs 385 to Rs 405 per share, with the size of its issue coming to Rs 405 crore.
Alongside these two, several other mainboard issues were scheduled between 22 and 28 September. HDFC Sky lists Elevate Campuses, Varmora Granito, ArMee Infotech and Swastika Infra among them, and there are also a few SME issues opening in the same week. For the retail applicants, this means that bank balances and application forms are being managed across more than one issue at a time.
Adroit Industries has been one of the stock that went live a bit earlier. Its IPO opened from 23 to 25 September, priced within a band of Rs 126 to Rs 134 per share, and a lot size of 111 shares, as IPOMarket reports. The company is slated to list on 30 September, so applicants are waiting for allotment announcements and for the first day of trading.
In the middle of this crowded queue, the name that was discussed most was Jio Platforms, whose IPO then ran from 21 to 23 October 2026. SEBI is the statutory regulator of India's securities market, with the legal duty to protect investors and to promote and regulate that market. Read the full meaning of SEBI issued its observation letter on the Jio Platforms DRHP on 28 August 2026, which allowed the company to proceed with its IPO. Jio Platforms has since set a price band of Rs 1,065 to Rs 1,119 per share, and its IPO was open from 21 to 23 October 2026.
Many families which follow the market looked at two things together, the issues that were open then and the Jio Platforms issue that followed. The price band, the lot size and the issue size of each issue are stated in the documents filed by the companies and the investors are now reading these figures more carefully.
What the Jio approval changes and what it leaves open
The approval granted by SEBI to Jio Platforms is simply a clearance that lets the company launch the IPO, it does not set a price or a date for the issue. The firm can now choose when to proceed, and the details will only be announced when it files the red herring prospectus, the RHP.
Jio Platforms filed its RHP on 14 October 2026, and its issue of about Rs 30,213 crore was then open from 21 to 23 October 2026.
Investors who read the RHP directly can see the exact figures, and those figures can differ a bit from what the aggregator pages display.
Earlier, the September issuances were spread wide, with Rentomojo raising Rs 1,256 crore from 9 to 11 September, according to PL India. The Asset Reconstruction Company (India), known as ARC India, opened its issue on those same dates, bringing in Rs 733 crore.
Prasol Chemicals’ IPO opened a day earlier, from 8 to 10 September, and its issue was Rs 500 crore. Among these three, there is a gap of more than Rs 700 crore between the largest and the smallest issue, yet all of them were opened in the same fortnight for the same group of retail applicants.
Against this background, the reported size of the Jio Platforms issue is on a different scale altogether. However, the size of an issue and the name of the company are only facts about the offer, and the investors who have been applying regularly are still going back to the same pages of the prospectus for each issue, whether it is large or small.
For borrowers and savers who have never applied to an IPO before, the SEBI approval looks like a signal that the issue is ready to go. The approval just shows that the draft document has been checked and that company is allowed to proceed, while the real terms have yet to be declared.
The checklist applicants are working through
Careful retail applicants are said to begin with the RHP, since the issue size and the use of the money raised are stated there in full. Many individuals are reading the issue size first, and then going on to the price band and the lot size.
The lot arithmetic is what decides the amount that has to be kept ready in the bank account. In the Rentomojo issue, a lot of 37 shares at the upper price of Rs 404 came to Rs 14,948, as per PL India. The retail application in most of the September issues was in the range of Rs 14,850 to Rs 14,950 per lot, so families applying to two or three issues together are calculating the total blocked amount in advance.
Adroit Industries had 111 shares in a lot, and because its price band was much lower per share, the lot contained more shares compared to other issues. So applicants are now looking at the lot size and the price band together, not just the share price.
The grey‑market premium (Grey market premium is the rupee gap between an IPO share's unofficial grey market price and its issue price, quoted before listing on NSE or BSE. Read the full meaning of Grey Market Premium (GMP)) is the third item that many investors keep track of. It is an unofficial figure and is not disclosed in the RHP or by the A regulated electronic marketplace in Mumbai where buyers and sellers trade shares and other securities at publicly visible prices. Read the full meaning of NSE (National Stock Exchange) or the BSE Ltd, formerly the Bombay Stock Exchange, is a Mumbai based electronic exchange where shares and other securities are traded under SEBI oversight. Read the full meaning of BSE (Bombay Stock Exchange). On 29 September, IPOGuru reported that the GMP for the Vishal Nirmiti IPO had dropped to Rs 2 from Rs 20 before its listing on 8 October.
Such a change within a short period shows that the figure moves quickly, and investors who had noted the earlier premium are now seeing a different number on same page.
Applicants who have gone through the figures are also checking where the shares of an issue are reserved for each investor group. The retail portion is only a part of the whole issue, so many people are checking how that portion sits against the total size of the offer.
Another aspect that families are checking is the closing date. Since Moneyview and A‑One Steels are open till 28 September, those who want to apply to both keep the money in the account long before the deadline, as the amount stays blocked until the allotment is finalised. A number of borrowers which also have EMIs due in the same week are keeping aside the required amounts in their bank accounts before applying.
The listing date follows the allotment. For Adroit Industries, the applicants are waiting for the allotment to be finalised and for the shares to be credited to their A demat account is an electronic account that holds an investor's shares, bonds, ETFs and mutual fund units in digital form instead of paper certificates. Read the full meaning of Demat Account before the trading starts. The Vishal Nirmiti issue comes even later in the calendar and its subscribers will have to wait longer for the first trading day.
The grey market figures are being discussed on social media and on the IPO pages, and the premium is often quoted there without the date on which it had been noted.
Experienced applicants are giving the premium very little space when they describe the steps they follow before applying.
A pipeline that runs well past the big names
The filings that came out in late September 2026 indicate that there will be more issues in the primary market after the issues open at that time have concluded. EverBrands, the company that runs Subway in India, has filed a draft red herring prospectus (DRHP) for an IPO worth Rs 600 crore, as noted in an IPOGuru piece dated 29 September.
A DRHP is the first document that a company files with SEBI before it decides to issue securities. It lays out the draft plan for the business, the financials and the reason for the issue, and SEBI scrutinises it before any approval is given. Individual investors who follow restaurants and consumer businesses are watching the EverBrands filing with interest, as the Subway brand is known to many households.
The IPO Platform has also listed a number of smaller companies among the DRHP filers. The IPO Platform has listed a batch of SME companies as DRHP filers, and Suntek Axpress India, Sbipl Projects and KMC Aluminium are among them. Their filings indicate that small and medium companies are also getting ready for the market, at a time when several SME issues are already open.
For the retail applicants, the SME filings will have to be read separately from the mainboard filings. The issue sizes are usually smaller, and the documents are less widely discussed on the aggregator pages, so investors who wish to know about these companies will have to read the filings themselves.
It is also seen that a DRHP news travels quicker than the actual paper. A company’s name may appear in a filing list, and in just few days the same name is being talked about with an expected size and expected date, even though none of those things have been finalised.
As of late September 2026, there was no price band, no lot size and no opening date for any of these companies. A DRHP is a draft, and the issue size, the price and even the plan to go ahead can change before the RHP is filed. The final terms of EverBrands, Suntek Axpress India, Sbipl Projects and KMC Aluminium will be known only when each company files its RHP.
