Several IPOs are currently open for subscription, generating significant activity in the primary market. These include Shringar House of Mangalsutra IPO, Dev Accelerator IPO and Urban Company IPO. Here’s a summary of their subscription status and Grey Market Premium (GMP) as of September 11, 2025.
Shringar House of Mangalsutra IPO
The IPO of Shringar House of Mangalsutra Ltd, a jewellery firm specializing in Mangalsutras, opened for subscription on September 10 and will close on September 12. The price band is set at ₹155 to ₹165 per share. The IPO aims to raise ₹401 crore through a fresh issue of 2.43 crore shares. The company intends to use ₹280 crore from the IPO proceeds to meet working capital requirements, with the remaining funds allocated for general corporate purposes.
On day 1, the IPO was subscribed 2.01 times. The retail portion was subscribed 2.83 times, the Non-Institutional Investors (NII) portion was booked 2.70 times, the Qualified Institutional Buyers (QIBs) portion received 1% bids, and the employee portion was subscribed 8.99 times. By the end of day 1, the company received bids for 3,41,72,730 shares against 1,70,16,000 shares on offer. On day 2, the issue was booked 3.18 times.
The Grey Market Premium (GMP) for Shringar House of Mangalsutra IPO is ₹29.5. This indicates that the shares were trading at a premium of ₹29.5 in the grey market, according to investorgain.com. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Shringar House of Mangalsutra share price was indicated at ₹194.5 apiece, which is 17.88% higher than the IPO price of ₹165.
Dev Accelerator IPO
Dev Accelerator IPO opened for bidding on September 10, 2025, and closes on September 12, 2025. The price band of the IPO is fixed between Rs 56 and 61 per share. The issue comprises a fresh issue of 23,500,000 equity shares of Rs 2 each. The IPO is a bookbuilding IPO for 2.35 crore shares worth ₹143.35 crores. The issue will be listed on BSE and NSE on its tentative listing date, September 17, 2025.
The IPO received bids for 7.02 crore shares against the total offer of 1.31 crore shares, resulting in an overall subscription of 5.34 times by the end of Day 1. Retail investors showed strong interest, subscribing 19.60 times their portion. By September 11, 2025, the IPO was subscribed 8.59 times.
As of September 8, 2025, the Dev Accelerator IPO GMP was ₹11 per share. With the IPO price at ₹61, this suggested a listing price of ₹72. On September 10, 2025, the GMP slipped slightly to ₹9. Based on the upper end of the IPO price band at ₹61 and the current GMP, the estimated listing price of Dev Accelerator shares could be around ₹70, reflecting a premium of 14.75%.
Urban Company IPO
Urban Company launched its ₹1,900 crore IPO on September 10, 2025, with the IPO closing on September 12, 2025. The issue is priced between ₹98 and ₹103 per share. The IPO comprises a fresh issue of ₹472 crore and an offer for sale (OFS) of ₹1,428 crore by existing shareholders. The IPO shares are available exclusively through online applications. Share allotment is expected to be finalized on September 15, 2025, with a tentative listing on the BSE and NSE set for September 17, 2025.
On the first day, the public issue was booked 3.13 times, led by demand from retail investors who bid 7 times the number of shares offered. Investors subscribed to 33,37,87,825 shares against the 10,67,73,244 shares on offer. As of 10:54 AM on September 11, the issue was oversubscribed 4.43 times. By 11 AM IST on Day 2, the IPO was subscribed 4.78 times.
The grey market premium (GMP) for the Urban Company IPO is ₹39. Based on the upper price band of Rs 103, the estimated listing price is Rs 142, indicating an expected gain of around 37.86% per share.
