IPOSarthi · Smart IPO Tracker

Making IPO investing and tracking simple and efficient. Live GMP, subscription, allotment and fund planning — free. Hobby Project. Not investment advice.

[IPOSarthi · Smart IPO Tracker @iposarthi]

Built a completely free tool that tracks every mainboard IPO in one place: live GMP, subscription, allotment dates, and a fund planner for family accounts.

I'm a CA, not a company. No ads, no paywall.

Here I post what the numbers actually say about each IPO — including what the headlines leave out.

https://t.co/zjhlg251gy

[IPOSarthi · Smart IPO Tracker @iposarthi]

@elonmusk Should be like this. We are already paying crores to META, Google, Anthropic... This should stay Indian at all costs.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@GuruShareMarket Sambhv Steel

[Krijuna Research & Analytics @KrijunaResearch]

There is a factory near Ahmedabad that makes one small metal part.

The part is barely 5% of the cost of the thing it goes into. But it is the only part the customer doesn't touch — no grinding, no polishing, no inspection.

It goes straight into the assembly. If it fails, it can take down a gearbox inside a wind turbine 90 metres in the air.

All six of the world's biggest bearing makers buy from this company — across 80+ of their plants. In India, 80–90 out of every 100 such parts already come from here. Nothing left to win at home. Then we opened the FY26 annual report.

Profit: up 74%. Cash from operations: down 67%. Same company. Same year. Same audited accounts.

We spent the last couple of weeks inside the filings trying to figure out which of those two numbers is telling the truth. What we found doesn't fit in one tweet.

More on this counter soon...

[IPOSarthi · Smart IPO Tracker @iposarthi]

Applying the NSE Ipo. Downside risk seems limited.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@ShubhaMemer He lives in our city Surat only. And he is a mobile store owner. The headlines are many a times misleading. Most people in the lines are either content creators or mobile dealers..

[IPOSarthi · Smart IPO Tracker @iposarthi]

@SaiVaru48492050 Wow. This is what I exactly tried to build at iposarth for SME IPOs.
https://t.co/LmWZt5YOXI

[IPOSarthi · Smart IPO Tracker @iposarthi]

@anujprajapati11 Sahi pakda. Aur jo sawaal koi nahi poochta: paisa jaata kahan hai. NSE ke ₹22,568 cr me se ₹0 company ko, poora OFS hai. Hero Motors me ₹1,000 cr me se ₹600 cr company ko jaata hai. Same din, do alag cheezein.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@researchontop44 One line beside the GMP column: these are unofficial grey-market quotes, no exchange publishes them. The filed number for NSE is ₹22,568 cr, all of it OFS, so a ₹14,280 lot reaches selling shareholders, not the company.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@tv9gujarati એ�� આંકડો જે હેડલાઇનમાં નથી: આખો ₹22,568 કરોડનો ઇશ્યુ OFS છે, એટલે ₹14,280ના એક લોટમાંથી ₹0 NSEને મળે છે, બધું વેચનારાઓને. બીજા દિવસે રિટેલ માત્ર 0.65x ભરાયો, QIB 1.32x.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@NiyatarS Handy. One line each on where the money goes: SS Retail ₹360 cr fresh of ₹500 cr, Jindal Supreme ₹100 cr of ₹125 cr, Hero Motors ₹600 cr of ₹1,000 cr. Jindal puts ₹71 cr of that ₹100 cr straight into repaying loans.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@REDBOXINDIA Led by NII and QIB is the right framing: 1.35x and 1.32x. Retail sat at 0.65x, under its own quota. And the ₹22,569 cr is entirely OFS, so a ₹14,280 lot funds selling shareholders, not the exchange.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@stockifiabhijit Good reminder. A live one closed today: SS Retail at ₹424, with 7.44 cr shares after the issue, so about ₹3,150 cr for a chain doing ₹2,353 cr of sales and ₹59 cr of profit. DMart listed at ₹39,000 cr in 2017.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@ASHISHGOSAI13 RHP મુજબ એક આંકડો: નફો FY25માં ₹7.71 કરોડ હતો, FY26માં ₹127.41 કરોડ. દેવું ₹1,011 કરોડ સામે નેટવર્થ ₹820 કરોડ. ₹355 કરોડ ફ્રેશમાંથી ₹250 કરોડ લોન ભરવામાં જાય છે — એટલે ₹14,985ના લોટમાંથી આશરે ₹9,250.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@Singhlicious On allotment odds at least, retail had room today — 0.65x on day 2, still under its own quota. The part that stays either way is the structure: ₹22,568 cr, 100% OFS, so a ₹14,280 lot funds the sellers, not NSE.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@Alpha_Edge1 Both deserve one more line. Jindal Supreme: ₹71 cr of the ₹100 cr fresh money repays old borrowings, so of a ₹14,973 lot roughly ₹8,500 clears loans. Debt ₹120 cr against net worth ₹97 cr.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@IPO_ACADEMY Useful table. One line to sit beside it: of SS Retail's ₹500 cr, ₹360 cr is fresh money and ₹241 cr of that is day-to-day running money. Only ₹12.45 cr goes into new stores.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@nakulvibhor Right to push back on it. The actual number at 2:55pm today: 1.00x overall — QIB 1.32x, NII 1.35x, retail 0.65x. For a ₹22,568 cr book, 100x would mean roughly ₹22.5 lakh crore of applications.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@trues_falses The BSE bit is the fun part. The other one: NSE's issue is 100% OFS, ₹22,568 cr — of a ₹14,280 lot not a rupee goes to NSE, it all goes to the shareholders selling. Retail was 0.65x subscribed on day 2.

[IPOSarthi · Smart IPO Tracker @iposarthi]

@himanshumi29 एक बात जो कम दिख रही है: पूरा ₹22,568 करोड़ OFS है, यानी ₹14,280 के एक लॉट में से ₹0 कंपनी के पास जाता है, सब बेचने वालों को। और दूसरे दिन रिटेल सिर्फ 0.65x भरा है। आप किस आँकड़े पर देख रहे हैं?

[IPOSarthi · Smart IPO Tracker @iposarthi]

@aditya_kondawar Agreed on the read. The split is the part that gets flattened: QIB 1.32x, NII 1.35x, retail 0.65x. A ₹22,568 cr book filled by institutions. And it's 100% OFS — of a ₹14,280 lot, nothing reaches NSE's own balance sheet.