Rupix

IPO subscription status

Subscription is how many times the shares on offer have been bid for, published by the exchanges as cumulative figures through each bidding day and broken down by investor category. Rupix shows the live figure for every open mainboard and SME issue, the day-by-day build, and the final figures for the issues that have closed, each linking to the issue's own subscription page and to its allotment page once the basis is out.

7 issues are open for bidding today and 26 open in the coming days. Figures are cumulative bids from the exchanges; the last day's final figure is the one allotment is based on.

Open now

IPOQIBNIIRetailTotalClosesStatus
Vedant Poly Fabs SME IPO subscription—0.01×—0.01×4 November 2026Open
HGS (India) SME IPO subscription4.41×13.80×—10.09×3 November 2026Open
Vectras Enprocon SME IPO subscription1.42×1.39×—1.32×3 November 2026Open
Maxwell Engineering Solutions SME IPO subscription—51.94×—40.17×3 November 2026Open
Johnsoncab Electricals SME IPO subscription0.52×2.74×—1.63×3 November 2026Open
Antala Industries SME IPO subscription66.72×0.16×—0.97×2 November 2026Open
Bombay Coated Special Steels IPO subscription10.38×43.91×14.71×19.67×2 November 2026Open

Closed in the last three weeks

IPOQIBNIIRetailTotalClosesStatus
M.K.Sons Fine Jewels IPO subscription1.84×14.12×3.08×5.10×30 October 2026Closed, awaiting listing
Carver Roboweld SME IPO subscription26.33×40.74×—25.87×30 October 2026Closed, awaiting listing
Ajwa Projects SME IPO subscription—0.43×—1.18×30 October 2026Closed, awaiting listing
BLS Polymers IPO subscription200.25×559.20×128.36×241.69×29 October 2026Closed, awaiting listing
SFC Environmental Technologies IPO subscription18.81×12.81×2.71×9.48×29 October 2026Closed, awaiting listing
Wiscon Industries SME IPO subscription2.24×0.62×—1.17×29 October 2026Closed, awaiting listing
Nityas Gems and Jewellery Limited IPO subscription1.06×2.05×4.04×—5 October 2026Closed, awaiting listing
EAAA India Alternatives IPO subscription13.13×4.58×1.03×5.25×28 October 2026Listed
Core4 Engineers SME IPO subscription5.06×13.18×—5.63×27 October 2026Listed
Jio Platforms IPO subscription70.55×14.00×2.72×22.20×23 October 2026Listed
Paras Healthcare IPO subscription3.09×0.66×2.00×2.23×23 October 2026Listed
Tonbo Imaging India IPO subscription293.56×170.94×31.07×136.07×19 October 2026Listed
Zetwerk Manufacturing Business IPO subscription4.73×1.40×0.73×3.06×19 October 2026Listed
Shellz India SME IPO subscription41.92×87.14×—58.70×19 October 2026Listed
Bonfiglioli Transmissions IPO subscription120.78×40.40×5.91×46.08×19 October 2026Listed
Sahajanand Medical Technologies IPO subscription34.70×14.64×3.03×14.21×19 October 2026Listed
Fusion CX IPO subscription4.01×4.50×5.70×4.45×16 October 2026Listed
Ravita Engineering Services SME IPO subscription———6.68×16 October 2026Listed
Vaibhav Vyapaar SME IPO subscription———3.08×15 October 2026Listed
HD Fire Protect IPO subscription256.65×203.21×30.49×131.88×15 October 2026Listed

Final figures at the close of bidding.

Reading the figures

A category subscribed 3.2 times received bids for 3.2 shares for every share set aside for it. The total is the same ratio across the whole offer, excluding the anchor portion, which is allotted the day before the issue opens. The exchanges publish the figures on a lag of about an hour during the day and a final figure after five in the evening;

the last day's final figure, which arrives after the close, is the one allotment is based on.

Qualified institutional buyers, which are mutual funds, insurers, banks and foreign portfolio investors, usually bid on the last day and often in the last hours, so a thin QIB figure on day one or two says little. Retail and non-institutional bids build steadily, and the non-institutional book, split into small (two to ten lakh rupees) and big (above ten lakh) investors, is where a large expected premium shows up first, because those applicants are financing bids against it.

What it means for allotment

Below one time, every valid application in the category receives a full allotment. Above one time, retail allotment is by lottery with one lot per winner, so the retail figure by applications is the inverse of your odds; non-institutional and institutional allotment is proportionate. An issue must reach 90 percent subscription overall by the close, counting the underwriters' commitments, or it fails and all money is returned.

The figure by applications differs from the figure by shares when applicants bid for more than one lot. For retail, where every winner gets one lot, the application-wise figure is the one that matters; Rupix shows it where the exchanges publish it.

Common questions about IPO subscription

What does "subscribed 2 times" mean?

Investors in that category bid for twice the number of shares set aside for it. At two times, half the demand goes unfilled: by lottery for retail, proportionately for institutions and non-institutional investors.

When are subscription figures updated?

The exchanges publish cumulative bids through each bidding day, roughly hourly, with a final figure after the market closes. Rupix refreshes the open issues through the day; the final figure on the last day is the one that decides allotment.

Does high subscription mean a good listing?

Not reliably. It shows demand during bidding; the listing price is set in the pre-open session on listing day and depends on that morning's market. Heavily subscribed issues have listed at a discount. Read subscription with the expected premium and the valuation against listed peers.

What is the minimum subscription for an IPO?

Ninety percent of the offer through the offer document, including the underwriters' commitments. An issue that falls short is withdrawn and every application's blocked amount is released.

What is the difference between shares-wise and application-wise subscription?

Shares-wise divides the shares bid for by the shares offered. Application-wise counts applications against the number that can be allotted one lot each. For retail, where every successful applicant receives one lot, the application-wise figure gives the odds of an allotment.

What are bNII and sNII?

The two halves of the non-institutional category since 2022: small non-institutional investors bid between two and ten lakh rupees, big non-institutional investors above ten lakh. Each has its own reserved portion, one third and two thirds of the NII quota, and is subscribed and allotted separately.