Three IPOs closed for subscription on September 18, 2026, targeting automotive, retail, and steel sectors. According to reports from LiveMint, The Economic Times, and The Hindu BusinessLine, all three issues demonstrated strong investor demand throughout their subscription periods. The allotment for all three IPOs is expected to be finalised on September 21, 2026, with shares scheduled to list on both NSE and BSE on September 23, 2026. As bidding wraps up today, investors are closely monitoring the latest grey market premiums for insights into potential listing gains.
**Jindal Supreme India emerged as the clear leader in subscription demand, achieving an impressive 181.07x subscription by 17:30 IST on September 18, 2026. The ₹124.88 crore IPO comprises a fresh issue of ₹99.89 crore and an offer for sale of ₹24.99 crore, with the retail quota subscribed 90x and non-institutional investors at 167x. The grey market premium has risen to +31, indicating an estimated listing price of ₹124 per share when calculated against the upper end of the IPO price band. The QIB portion was subscribed 28.47x, while the NII portion achieved 245.62x subscription and retail portion 113.84x subscription. The company, incorporated in March 1974, has been manufacturing steel pipes, tubes and other steel products for over five decades, with a diversified product mix including MS pipes, GI pipes, crash barriers, and tubular poles.
SS Retail IPO GMP today stands at +140, indicating an estimated listing price of ₹564 per share based on the upper price band of ₹424. This translates to a 33% premium over the IPO price of ₹424. The ₹500 crore IPO comprises a fresh issue of ₹360 crore and an offer for sale of ₹140 crore, with the price band set at ₹403-424 per share and minimum bid lot of 35 shares. The issue has been subscribed over 32x so far, with QIB portion at 41.02x, NII portion at 100.82x, retail portion at 26.14x, and employee portion at 1.94x. The company operates as a multi-brand retail chain selling mobile phones, accessories and electronic products across 503 stores across 215 cities as of March 31, 2026, with operations spanning Maharashtra, Karnataka, Madhya Pradesh, Goa and Gujarat.
Hero Motors IPO achieved strong Day 3 performance with 7.3x subscription, significantly improving from the initial Day 1 subscription of 0.96x. The ₹1,000 crore IPO comprises a fresh issue of ₹600 crore and an offer for sale of ₹400 crore, with the price band set at ₹79-84 per share. The issue has been subscribed around 3x so far, with QIB portion at 0.81x, NII portion at 8.00x, and retail portion at 7.48x. The grey market premium stands at +4, indicating an estimated listing price of ₹88 per share - a 4.76% premium over the IPO price of ₹84. The company operates as a fully integrated powertrain systems provider serving automotive OEMs across the United States, Europe, India and the ASEAN region, with operations organised into Powertrain Solutions and Alloys and Metallics segments. Hero Motors raised ₹300 crore through its anchor book ahead of the IPO.
The subscription data reveals strong institutional and retail participation across all three IPOs. Jindal Supreme India's QIB portion was subscribed 28.47x, while the NII portion achieved 245.62x subscription and retail portion 113.84x subscription. SS Retail's QIB portion was subscribed 41.02x, NII portion 100.82x, retail portion 26.14x, and employee portion 1.94x. Hero Motors' QIB portion was subscribed 0.81x, while the NII and retail portions were subscribed 8.00x and 7.48x respectively. The ₹124.88 crore Jindal Supreme India IPO comprises a fresh issue of ₹1.07 crore equity shares worth nearly ₹100 crore at the upper price band, along with an Offer-for-Sale of 26.86 lakh shares worth ₹25 crore by promoter group entity VVJ Enterprise Pvt Ltd. The proceeds from the fresh issue will be used for payment of debt and general corporate purposes. Jindal Supreme raised ₹37.46 crore from anchor investors ahead of the IPO, allotting 40.28 lakh shares at ₹93 each to 5 anchor investors.
