Synopsis: The IPO market is facing significant pressure today as the broader Sensex and Nifty crash due to escalating Middle East tensions. While Rajputana Stainless has just announced its price band, existing issues like Omnitech Engineering and PNGS Reva are seeing their Grey Market Premiums (GMP) evaporate to zero or negative territory.
IPO Market Update: Latest IPO GMP and Subscription Updates
1. Rajputana Stainless Limited (Upcoming)
- Dates: March 9 – March 11, 2026
- Price Band: ₹116 – ₹122 per share
- Latest Update: Rajputana Stainless Limited fixed its price band today for the ₹255 crore IPO. It includes a fresh issue of ₹179 crore to set up a new seamless pipe facility in Gujarat.
- Latest GMP: ₹23 (Est. 18.8% Listing Gain). Despite the market crash, early interest in the unlisted market remains positive for this steel player.
2. SEDEMAC Mechatronics (Opening Soon)
- Dates: March 4 – March 6, 2026
- Price Band: ₹1,287 – ₹1,352 per share
- Latest Update: SEDEMAC Mechatronics opened yesterday, March 2, attracting institutional interest despite the 127x P/E valuation.
- Latest GMP: ₹28 (Est. 2% Listing Gain). The GMP has cooled significantly from last week’s highs of ₹80, reflecting the “risk-off” sentiment across tech and auto-ancillary stocks.
3. Omnitech Engineering (Allotment Today)
- Status: Allotment expected late tonight (March 2).
- Subscription: Subscribed 5.21 times overall (QIB: 2.86x, NII: 0.73x, Retail: 0.33x).
- Latest GMP: ₹0 (Flat Listing). The premium has crashed from ₹15 to nil today. Omnitech Engineering is tentatively scheduled to list on March 5. If the market doesn’t recover, a discounted listing is a high possibility.
Check allotment status here
4. PNGS Reva Diamond Jewellery (Listing on Wednesday)
- Status: Allotment finalized; Listing on March 4, 2026.
- Subscription: Muted response at 1.30 times.
- Latest GMP: -₹4 (Est. 1% Discounted Listing). The grey market has turned negative today. Analysts expect PNGS Reva Diamond Jewellery to debut around ₹382–₹386 against its issue price of ₹386.
Summary Table: GMP & Allotment Status
| IPO Name | Status | Price Band | Latest GMP(as of writing) | Allotment/Listing Date |
| Rajputana Stainless | Upcoming | ₹116 – ₹122 | ₹23 (18.8%) | Allotment: March 12 |
| SEDEMAC Mechatronics | Opens Mar 4 | ₹1,287 – ₹1,352 | ₹28 (2.0%) | Allotment: March 9 |
| Omnitech Engineering | Allotment Today | ₹216 – ₹227 | ₹0 (0.0%) | Listing: March 5 |
| PNGS Reva Diamond | Listing Mar 4 | ₹367 – ₹386 | -₹4 (-1.0%) | Listing: March 4 |
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