The primary market (IPO) is in focus on Monday, October 19, as the public issues of Tonbo Imaging India, Zetwerk Manufacturing Businesses, Bonfiglioli Transmissions and Sahajanand Medical Technologies enter their third and final day of subscription.
Investors will closely watch the latest grey market premium (GMP), subscription status, IPO price bands and expected listing gains ahead of the October 23 listing date.
On Day 2, Tonbo Imaging India IPO was subscribed 7.77 times, leading the four issues. Bonfiglioli Transmissions IPO was subscribed 0.99 times, while Sahajanand Medical Technologies IPO received 0.82 times subscription. Zetwerk Manufacturing Businesses IPO was subscribed 0.31 times.
Among the four IPOs, Tonbo Imaging India has the highest reported grey market premium, followed by Bonfiglioli Transmissions. Zetwerk and Sahajanand Medical Technologies are also in focus as their IPO subscriptions close today.
Tonbo Imaging India IPO GMP Today
Tonbo Imaging India IPO GMP stood at Rs 515, according to the latest available data. Against the upper price band of Rs 700 per share, this indicates an estimated listing price of Rs 1,215, implying a potential listing gain of 73.57%.
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The Rs 852.18-crore IPO is entirely an offer for sale (OFS) of 1.22 crore shares. The price band is Rs 665–700 per share, and the lot size is 21 shares, requiring a minimum retail investment of Rs 14,700 at the upper price band.
The issue opened on October 15 and closes on October 19. Allotment is expected on October 21, while the shares are scheduled to list on the NSE and BSE on October 23.
Tonbo Imaging India is a defence electronics manufacturer specialising in electro-optic, infrared, thermal imaging, surveillance, targeting and guidance systems. It serves defence and security organisations across 24 countries and has more than 28,000 systems deployed in the field.
Zetwerk IPO GMP Today
Zetwerk IPO GMP stood at Rs 5. At the upper price band of Rs 151, the estimated listing price works out to Rs 156, indicating a potential listing gain of 3.31%.
The Rs 5,012.33-crore IPO comprises a fresh issue of shares worth Rs 2,830 crore and an offer for sale of Rs 2,182.33 crore. The price band is Rs 143–151 per share, with a lot size of 99 shares. Retail investors need a minimum investment of Rs 14,949 at the upper end of the price band.
The IPO closes on October 19, with allotment expected on October 21 and listing scheduled for October 23 on the NSE and BSE.
Founded in 2017, Zetwerk operates a technology-led manufacturing platform connecting businesses with manufacturing partners. Its operations span electronics, renewable energy, aerospace and defence, industrial automation and precision manufacturing.
Bonfiglioli Transmissions IPO GMP Today
Bonfiglioli Transmissions IPO GMP stood at Rs 125. With the upper price band at Rs 586 per share, the estimated listing price is Rs 711, implying a potential listing gain of 21.33%.
The Rs 2,533.66-crore issue is entirely an offer for sale of 4.32 crore shares. The price band is Rs 558–586 per share, while the lot size is 25 shares. The minimum retail investment is Rs 14,650 at the upper price band.
The issue closes on October 19. Allotment is expected on October 21, and the shares are scheduled to list on October 23.
Bonfiglioli Transmissions provides mechanical and electromechanical power transmission and industrial drive solutions. Its product portfolio includes gearboxes, gear motors, electric motors and precision drives serving industrial automation, off-highway mobility and wind energy markets.
Sahajanand Medical Technologies IPO GMP Today
Sahajanand Medical Technologies IPO GMP stood at Rs 25. Against the upper price band of Rs 344, the estimated listing price is Rs 369, indicating a potential listing gain of 7.27%.
The Rs 475.48-crore IPO is entirely an offer for sale of 1.38 crore shares. The price band is Rs 327–344 per share, and the lot size is 43 shares. The minimum retail investment is Rs 14,792 at
the upper price band.
The IPO closes on October 19, with allotment expected on October 21 and listing scheduled for October 23 on the NSE and BSE.
Sahajanand Medical Technologies develops and manufactures medical devices, primarily for vascular and structural heart interventions. Its product portfolio includes coronary stents, balloons, transcatheter aortic valve implantation devices and other interventional cardiology products. The company said its products were marketed in 77 countries in FY26.
IPO GMP Today: What Investors Should Know
Based on the latest available figures, Tonbo Imaging India has the highest reported GMP at Rs 515, followed by Bonfiglioli Transmissions at Rs 125, Sahajanand Medical Technologies at Rs 25 and Zetwerk at Rs 5.
The Day 2 subscription figures show stronger demand for Tonbo Imaging India, while Bonfiglioli Transmissions was close to full subscription. Sahajanand Medical Technologies and Zetwerk had yet to reach full subscription by the end of Day 2.
Grey market premiums are unofficial indicators of investor sentiment and do not guarantee listing gains. They can fluctuate before listing and should not replace an assessment of an IPO's valuation, financial performance, business prospects and risk factors.
That said, investors should check the latest subscription figures before making an investment decision.
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