When it comes to an upcoming IPO in India, the first thing you need to know is that there is no set schedule for an IPO. It is possible for the companies to transition from a draft prospectus to regulatory review, announce dates, postpone an issue, alter the price band or even complete the offer and listing within a brief period of time.
Which is the reason a useful 2026 IPO page should more than simply list long a long list of company names. An investor should be able to determine if an issue is truly up to come, open, closed or listed. They also require price band, lot size, issue size, exchange, and key dates and access to offer documents.
The Indian primary market is active as of October 2026, both on the mainboard and SME issues. Kotak Neo’s current IPO tracker, for instance, distinguishes between current IPOs and its much bigger pipe of pending issues, and reveals that dates and terms can change as companies move to the next stage of the IPO process.
This guide will explain how to understand the upcoming IPO in India list, how IPOs are applied, how to read IPOs through Indian trading platforms and UPI/ASBA and what to look for in a DRHP or RHP, and what risks are important before applying to IPOs.
Upcoming IPO in India 2026: What Does “Upcoming” Actually Mean?
A forthcoming IPO is most often an issue that has not yet gone public. Not all firms in the IPO queue have a definite launch date.
A company could be in the process of preparing its DRHP, have already filed its DRHP, could be awaiting or responding to observations by regulators, could have been approved, could be in the process of preparing its RHP, or could have announced its DRHP dates, or could be about to open. These are various phases.
The calendar should, therefore, include status labels, if any, like date announced, dates to be announced, DRHP filed, SEBI approval received, current/live, listed etc. for SEO and investor clarity purposes. If a business is only rumoured to be contemplating an IPO, then it should not be introduced as having a confirmed date for its IPO.
Upcoming IPO Calendar India 2026: How to Read the List
| Issuer Company | Open Date | Close Date | Listing Date | Issue Price | Issue Size (Cr.) | Lot Size | Exchange |
|---|---|---|---|---|---|---|---|
| A-One Steels India | 24 September 2026 | 28 September 2026 | 1 October 2026 | ₹405 | ₹405 Crores | 37 | BSE, NSE |
| Moneyview Limited | 24 September 2026 | 28 September 2026 | 1 October 2026 | ₹34 | ₹1,091.68 Cr | 441 | BSE & NSE |
| Runwal Enterprises | 25 September 2026 | 29 September 2026 | 5 October 2026 | ₹305 | ₹500 Crore | 49 | BSE and NSE |
| German Green Steel and Power | 25 September 2026 | 29 September 2026 | 5 October 2026 | ₹139 | ₹303.90 Crore | 107 | BSE and NSE |
| Orient Cables (India) | 25 September 2026 | 29 September 2026 | 5 October 2026 | ₹272 | ₹552 Crore | 55 | BSE and NSE |
| Acevector (Snapdeal) | 25 September 2026 | 29 September 2026 | 5 October 2026 | ₹32 | ₹420 Crore | 468 | BSE and NSE |
| Shah Investor’s Home | 28 September 2026 | 30 September 2026 | 6 October 2026 | ₹167 | ₹90.17 Crore | 85 | BSE & NSE |
| SRIT India | 28 September 2026 | 30 September 2026 | 6 October 2026 | ₹130 | ₹218.40 Crore | 115 | BSE & NSE |
| Nityas Gems & Jewellery | 30 September 2026 | 5 October 2026 | 8 October 2026 | ₹75 | ₹108.35 Cr | 200 | BSE, NSE |
| Vishal Nirmiti | 30 September 2026 | 5 October 2026 | 8 October 2026 | ₹220 | ₹178 Crore | 68 | BSE & NSE |
| HD Fire Protect | 13 October 2026 | 15 October 2026 | 21 October 2026 | ₹271 | ₹712.31 Cr | 55 | BSE, NSE |
| Fusion CX | 14 October 2026 | 16 October 2026 | 22 October 2026 | ₹289 | ₹702 Crore | 51 | BSE & NSE |
| Sahajanand Medical Technologies | 15 October 2026 | 19 October 2026 | 23 October 2026 | ₹344 | ₹475 Cr | 43 | BSE & NSE |
| Bonfiglioli Transmissions | 15 October 2026 | 19 October 2026 | 23 October 2026 | ₹586 | ₹2,533.66 Crore | 25 | BSE & NSE |
| Zetwerk Manufacturing Business | 15 October 2026 | 19 October 2026 | 23 October 2026 | ₹151 | ₹5,012.33 Crore | 99 | BSE & NSE |
| Tonbo Imaging India | 15 October 2026 | 19 October 2026 | 23 October 2026 | ₹700 | ₹852.18 Crore | 21 | BSE & NSE |
Important: Pipeline information is not the same as a confirmed public subscription schedule. The status and dates above are snapshots based on 2026 market information and can change. Verify the latest RHP, exchange notice and official company disclosures before acting. Kotak Neo’s 2026 sector-wise IPO research similarly notes that expected dates and issue sizes can change as companies move through the approval process.
List of Upcoming SME IPO in India – Current IPO in India
| Issuer Company | Open Date | Close Date | Listing Date | Issue Price | Issue Size (Cr.) | Lot Size | Exchange |
|---|---|---|---|---|---|---|---|
| Peshwa Wheat | 24 September 2026 | 28 September 2026 | 1 October 2026 | ₹101 | ₹53.52 Crores | 1,200 | BSE SME |
| Green Asia Impex | 24 September 2026 | 28 September 2026 | 1 October 2026 | ₹90 | ₹60.10 Cr | 1,600 | NSE SME |
| Himalayan Solar | 25 September 2026 | 29 September 2026 | 5 October 2026 | ₹103 | ₹68.03 Crore | 1,200 | NSE SME |
| Bench Mark Infotech Services | 25 September 2026 | 29 September 2026 | 5 October 2026 | ₹110 | ₹42.44 Crore | 1,200 | NSE SME |
| Pind Hospitality | 28 September 2026 | 30 September 2026 | 6 October 2026 | ₹99 | ₹17.82 Crore | 1,200 | BSE SME |
| Shivchem Agro | 28 September 2026 | 30 September 2026 | 6 October 2026 | ₹62 | ₹14.01 Crore | 2,000 | BSE SME |
| Acme Universal Safezone 9 | 28 September 2026 | 30 September 2026 | 6 October 2026 | ₹71 | ₹35.93 Crore | 1,600 | BSE SME |
| Black Opal Consultants | 29 September 2026 | 1 October 2026 | 7 October 2026 | ₹197 | ₹55.08 Crore | 600 | BSE SME |
| Papadmalji Agro Foods | 29 September 2026 | 1 October 2026 | 7 October 2026 | ₹72 | ₹18.52 crore | 1,600 | NSE SME |
| Vans Electroengineerings | 29 September 2026 | 1 October 2026 | 7 October 2026 | ₹118 | ₹33.98 Cr | 1,200 | BSE SME |
| EverestIMS Technologies | 29 September 2026 | 5 October 2026 | 8 October 2026 | ₹85 | ₹48.46 Crore | 1,600 | BSE SME |
| Dove Soft | 30 September 2026 | 5 October 2026 | 8 October 2026 | ₹111 | ₹73.26 Cr | 1,200 | BSE SME |
| Omara Ventures India | 30 September 2026 | 5 October 2026 | 8 October 202600 | ₹311 | ₹41.99 Crore | 400 | BSE SME |
| SJP Ultrasonic | 30 September 2026 | 5 October 2026 | 8 October 2026 | ₹67 | ₹23.45 Cr | 2,000 | BSE SME |
| Sollfege Smart Electronics | 30 September 2026 | 5 October 2026 | 8 October 2026 | ₹55 | ₹21.78 Cr | 2,000 | BSE SME |
| Paramount Syntex | 30 September 2026 | 6 October 2026 | 9 October 2026 | ₹127 | ₹81.79 Crore | 1,000 | BSE SME |
| Acme India Industries | 30 September 2026 | 6 October 2026 | 9 October 2026 | ₹196 | ₹121.69 Cr | 600 | BSE SME |
| TNA Solutions | 30 September 2026 | 6 October 2026 | 9 October 2026 | ₹70 | ₹37.86 Cr | 2,000 | BSE SME |
| R.K. Fashion Accessories | 5 October 2026 | 7 October 2026 | 12 October 2026 | ₹82 | ₹34.99 Crore | 1,600 | NSE SME |
| Ravita Engineering Services | 13 October 2026 | 15 October 2026 | 21 October 2026 | ₹112 | ₹116.05 Cr | 1,200 | NSE SME |
| Vaibhav Vyapaar | 13 October 2026 | 15 October 2026 | 21 October 2026 | ₹52 | ₹40.54 Crore | 2,000 | NSE SME |
| Shellz India | 15 October 2026 | 19 October 2026 | 23 October 2026 | ₹179 | ₹59.97 Crore | 800 | BSE SME |
Major Upcoming IPOs in India to Watch in 2026
Mainboard IPO vs SME IPO
| Feature | Mainboard IPO | SME IPO | Why It Matters |
|---|---|---|---|
| Company profile | Typically larger businesses | Smaller and emerging companies | Business scale and liquidity can differ substantially |
| Minimum application | Often accessible to retail investors through standard lot sizes | Can require significantly higher application amounts | Capital requirement may be much higher |
| Liquidity after listing | Generally deeper | Can be lower | Exiting may be harder in some SME stocks |
| Risk | Can still be high | Often higher due to size/liquidity/business concentration | Do not treat SME IPOs as cheap lottery tickets |
| Research | RHP/DRHP and financial statements | RHP/DRHP and financial statements | Financial quality matters in both categories |
IPO Current vs Upcoming vs Closed vs Listed
- Upcoming IPO: Subscription has not opened yet; final dates may or may not be announced.
- Current IPO: The bidding window is open and investors can submit applications until the closing deadline, subject to category rules.
- Closed IPO: The subscription period has ended; investors are waiting for allotment, refunds/unblocking and listing.
- Recently Listed IPO: Shares have started trading on the exchange, so investors are buying/selling in the secondary market rather than applying through the IPO.
How to Apply for an Upcoming IPO in India
- Keep an active Demat account and a bank account capable of supporting the selected application method.
- Use a SEBI-registered broker’s IPO section or the recognised exchange/ASBA route.
- Select the IPO and review the price band, lot size, investor category and application amount.
- Enter the number of lots and bid at the desired price within the permitted range. Retail investors may use the cut-off option where applicable.
- For UPI applications, enter the correct UPI ID and submit the application. The UPI mandate must then be approved through the relevant UPI application.
- Keep enough funds available until the mandate is processed. The application amount is generally blocked rather than immediately transferred for an unsuccessful application.
- Check the application status, basis of allotment and mandate/unblocking status after the issue closes.
- If shares are allotted, they are credited to the linked Demat account and the applicable amount is debited according to the final allotment.
How to Apply for an IPO Through Indian Trading Apps
Zerodha: Go to IPO, click on the issue, provide the bid details and fill the UPI mandate (if applicable) in the bank/UPI app.
Groww: Click on the IPO section, choose the issue, enter the bid size and lot, and fill in the UPI details and approve the mandate.
Upstox: Log in to the IPO section in Upstox app, fill in the application and finish the payment mandate via the concerned payment channel.
Log into the Angel one App and go to investment/IPO and select the IPO, enter the quantity and bid price and finish the supported UPI/ASBA process.
So, Kotak Neo is now elaborating on the application process both through the UPI and ASBA in its app/website. It provides an IPO workflow that allows users to view the details of the issues before applying.
The structure of app menus and app flow may vary. Only follow the instructions being displayed on the screen by your broker and never give out your UPI PIN, bank password, or OTP to anyone.
How to Evaluate an Upcoming IPO Before Applying
- Know the business: what does the business sell, who buys it and why will customers continue to buy?
- Pay attention to the quality of revenue: Don’t just focus on top-line growth. Revisit the customer concentration, recurring revenue, margins and cash conversion.
- Study profitability: even if a company grows at a healthy clip, it can still be a negative value destroyer if the company is not on the right path to sustainable profits.
- Read the use of proceeds: If it’s a new issue, realize the company’s intentions in using the proceeds.
- Review OFS: Shares are being sold by existing shareholders. The company may not be able to receive those proceeds.
- Valuation comparison: Use P/E, EV/EBITDA, price-to-sales and other relevant ratios to compare with listed competitors; but only use ratios that are applicable to the sector.
- Check debt and cash flow – accounting profit is not sufficient. Check operating cash flow, debt maturities and working-capital requirements.
- Litigation, regulation, customer concentration, suppliers, technology and competition are all risk factors that can be found in the RHP.
- Review promoter/governance information: For related party transactions, litigation disclosures, auditor qualifications and changes in management.
- Ignore GMP: Grey-market premium is unofficial and is in constant flux. It is not meant to replace fundamental analysis or as an official price discovery system.
IPO Price Band, Lot Size and Issue Size Explained
- Price band – for a book-built IPO, this is the range where investors can bid for the shares. The book-building process is used to determine the final issue price.
- The smallest lot size is the number of shares per application lot. Generally, the amount of application is the price times lot size, subject to category and issue rules.
- Issue size: Sum of the value of the fresh shares and/or offer for sale.
- Equity: It is money that a company receives from selling new shares. The company has receipt of proceeds with issue expenses and stated use.
- Offer for sale (OFS): the existing shareholders sell their shares. Generally, the sale proceeds are passed to the selling shareholders and not to the company.
- Listing date: The date when the shares start to trade on the exchange, as per applicable listing procedure.
IPO Allotment: What Happens After You Apply?
After the bidding has been closed, the issue is presented for allocation and allotment finalisation based on the bidding. In a retail offering that is oversold, an applicant may be issued less shares of the offering or no shares of the offering.
In case of allotment of shares, the required amount is deducted from your bank account and the shares are credited to the Demat account. If allotment is not received, then the blocked funds are released/unblocked based on the applicable payment process.
Don’t presume an allotment in the IPO means that the investor will make a profit when the stock goes public. The listing price depends on the secondary market demand and may be lower than the issue price.
Risks of Investing in Upcoming IPOs
- Valuation risk: The company can be a great place to invest, but if its IPO is priced too high.
- Business risk: New listings can experience customer concentration or execution issues or face competition.
- Liquidity risk: Shares of some SMEs may be less liquid to trade on the stock exchange after listing.
- Market risk: The overall market conditions can impact the listing and post-listing valuation.
- Information risk: Investors might look at headlines instead of reading the RHP and financial statements.
- Lock-in and shareholder risk: Current shareholders and pre-IPO investors may not have the same risk and/or selling time.
- Behavioural risk: FOMO can make investors invest before they know the business.
Pros and Cons of Investing in Upcoming IPOs
Advantages
- Opportunity to invest in companies entering the public market.
- Access to new sectors and business models that may not have been listed previously.
- Transparent offer documents provide substantial financial and risk information.
- IPO applications through UPI/ASBA can be convenient for eligible investors.
- Successful businesses can create long-term value after listing.
Disadvantages
- IPO pricing can be aggressive.
- Listing gains are never guaranteed.
- Popular IPOs can be heavily oversubscribed.
- SME IPOs can have higher liquidity and volatility risks.
- Future business performance can differ significantly from the IPO narrative.
- Short-term IPO speculation can encourage emotional decision-making.
2026 IPO Market: What Investors Should Watch
While new-age technology firms make up a part of the pipeline, investors should look beyond brand-name and consider unit economics and sustainable cash-generation routes.
When issuing an IPO in the financial sector, it is important to be mindful of credit quality, funding costs, capital adequacy, and regulatory risk.
Large infrastructure, exchange and consumer businesses can garner significant attention, but size doesn’t mean no risk in valuating.
The SME IPO activity is still strong. Liquidity and risk should be treated with special care as minimum investment may be significantly greater than the amount you would invest in a retail mainboard application.
Upcoming IPO in India 2026: Important Documents to Read
- DRHP: Draft Red Herring Prospectus. It gives extensive business, company, financial and management details and risk profiles, followed by proposed offer terms.
- RHP: Red Herring Prospectus. This is the main “public issue” document and provides current information and finalised issue details, as appropriate.
- Price band announcement: After the company and the relevant intermediaries issue the price band announcement, the price band announcement is issued.
- Agreements: Make sure to include any agreements that may affect the bidding or listing date.·
- Exchange notices: If the date is confirmed, include exchange notices; if the date is for a bidding or listing, include market-related dates.
- Basis of allotment: Describes how the allotment allocation will be done once the allotment subscription closes.
FAQs About Upcoming IPO in India 2026
What is the next IPO in India?
An upcoming IPO is a public issue which has not yet been offered for public subscription. The company could be in the early filing process or have already announced filing dates. Investors are advised to see the most recent official status prior to applying.
What are the IPOs to look out for in India in 2026?
The 2026 pipeline has a lot of big names including PhonePe, Zepto, Jio, Razorpay, NSE, Hero FinCorp and many other main board and SME companies. The dates and issue terms are variable and should be checked in the most recent offer documents and exchange/company announcements.
How to find upcoming IPO dates in India?
Visit the IPO sections of NSE and BSE, SEBI filings and the official IPO page of a SEBI registered broker. For the sake of convenience, broker trackers are helpful, but it is important to check final dates with the official disclosures.
Where to apply for an upcoming IPO online?
The application can be done via UPI supported broker app or the ASBA facility of an eligible bank. A valid Demat account, along with the proper bank/payment setup is required.
Is it possible to apply for an IPO without a trading account?
It is a general rule that the investor should have a Demat account before he is able to receive shares. The amount of a trading account required may vary based on a specific application route and intermediary; please check the current rules with your bank/broker.
What is the difference between an IPO that is going to happen and a current IPO?
An IPO has not yet gone on sale and a second IPO is currently on sale. The closed IPO is over.
How much is the minimum amount for an IPO?
This varies by price band, size of lot and investor type. The minimum amount for a basic retail application is typically the minimum size of the lot (as determined in the rules of the issue) times the bid price.
Is investment in IPOs safe?
There is no completely foolproof investment. An IPO can sell at a discount to its offering price and a company can underperform once it has been listed. There are a number of risks associated with the business and its valuation and investors will be well served by reading the offer documents before applying.
Is there a guarantee that gains will be made when an IPO occurs?
Gains cannot be guaranteed. It is possible for the listing price to be below or above the issue price due to market sentiment, valuation and liquidity, and company-specific factors.
How can I cancel or change an IPO application?
The modifications and/or cancellations can be made only during the applicable bidding window and in accordance with the rules of the issue and the intermediary. Do not use an outdated procedure, follow the instructions of the broker or ASBA platform.
Conclusion: How to Track the Upcoming IPO in India in 2026
The best way to use an upcoming IPO in India calendar is as a research starting point, not a buy list. The IPO pipeline can change quickly, and a company appearing on a preliminary list does not mean its final dates, price band or issue size are confirmed.
In 2026, investors should separate the IPO process into stages: pipeline, regulatory filing, approval, announced issue, live subscription, allotment and listing. This simple classification prevents one of the most common problems with IPO websites—showing old issues as if they are still upcoming.
When a company becomes investible, move beyond the headline. Read the RHP, understand the fresh issue versus OFS, examine financial statements, compare valuation with peers, review risk factors and decide how much capital you can afford to commit.
Indian trading apps make the application process convenient, but convenience should never replace due diligence. Whether you apply through Zerodha, Groww, Upstox, Angel One, Kotak Neo or another eligible intermediary, verify the latest issue details and complete the UPI/ASBA process through official channels.
The most valuable IPO strategy in 2026 is simple: track the calendar, verify the documents, understand the valuation and never apply purely because an IPO is popular.
