IPO GMP This Week: Dhoot Transmission Steals the Show as Mainboard Action Heats Up
It's been a busy week in the primary market, and if there's one number that kept popping up in every trading desk chat this week, it's ₹276. That's where Dhoot Transmission GMP settled after its ₹3,066.89 crore issue closed on August 12 — implying a listing somewhere north of ₹1,140 against its ₹871 price band. For an issue this size, a 30%+ grey market premium isn't something we see every month, and it's easily the standout story of the week.
But Dhoot Transmission wasn't the only name keeping the grey market busy. Here's everything worth knowing before Monday's opening bell.
The Big Movers: What Closed This Week
Three mainboard issues wrapped up subscription this week, and the GMP spread between them tells its own story about where investor appetite really is right now.
Dhoot Transmission — GMP settled around ₹276 on its ₹871 band, the strongest listing-gain signal of the week.
Molbio Diagnostics — the ₹940 crore molecular diagnostics play commanded a hefty ₹156 GMP against its ₹807 band, translating to roughly 19% expected listing gains. Diagnostics and healthcare names have had a good run lately, and this one didn't break the trend.
Shiprocket — the D2C logistics enabler's ₹1,617.5 crore issue closed with a ₹36 GMP on its ₹97 price band, working out to a solid 37% premium. Given the size of the issue, that's a strong show of retail and HNI confidence in the e-commerce enablement story.
Worth noting: Milky Mist's ₹1,553 crore dairy IPO closed the same window but has seen its GMP cool off to around ₹26, a reminder that grey market enthusiasm doesn't always hold steady right up to listing day.
Still Open — Apply Before These Close
If you're still deciding where to park your application money, a few issues remain live:
Behari Lal Engineering (Mainboard) is the one to watch here — GMP has climbed to ₹80 on a ₹285 band, pointing to a possible 28% pop, and it closes August 14.
Credent Connect N Care (NSE SME) has the most eye-catching percentage gain of the week, with GMP near ₹75 on a ₹189 band — nearly 40% expected upside.
Technocrats Plasma Systems and Skytech Infinite Platform, both SME issues, are showing healthy mid-double-digit GMP as well.
On the flip side, ENS Enterprises, Q&T Foods, Pramodini Medicare, Sham Foam, and Fascinate Textiles are all sitting at flat or zero GMP right now. That's not necessarily a red flag — some of these are simply early in their subscription window — but it's a signal to watch subscription numbers closely before applying rather than going in on sentiment alone.
What's Opening Next Week
The pipeline for the week ahead is stacked, and a couple of names already have grey market chatter building before they've even opened.
Lalithaa Jewellery Mart opens August 17 with a ₹201 price band, and GMP is already trading around ₹38 — close to 19% expected gains before subscription has even started.
Sunshine Pictures opens the same window at a ₹360 band, showing early GMP near ₹33.
Shankesh Jewellers and Horizon Industrial Parks both open August 17–18 with modest but positive early premiums.
Skyways Air Services, a mainboard aviation-services name, opens August 24 with GMP already at ₹20 on a ₹138 band.
Gaja Alternative Asset Management, Dhanwel Hybrid Seeds, and Mopshop Distribution all open August 19 — no GMP activity yet, so these are ones to track fresh over the weekend.
The Bigger Picture
A few developments beyond the GMP tables are worth flagging for anyone tracking the broader IPO pipeline:
Retail participation looks genuinely strong right now — demat account additions hit a six-month high in July, and brokerages like Axis Securities are pencilling in Nifty crossing the 27,000 mark this year. That kind of backdrop tends to keep grey market sentiment buoyant heading into a busy issue calendar.
On the regulatory side, SEBI upheld restrictions against Nirman Agri Genetics and its promoter over an investigation into roughly ₹18.89 crore — nearly 93% of the company's SME IPO proceeds — allegedly routed into linked entities. It's a useful reminder that SME IPO diligence matters just as much as tracking the premium.
Further out, OfBusiness is reportedly reviving its public listing plans, targeting a DRHP filing by mid-November for an issue that could raise close to $800 million. And drone-tech player Garuda Aerospace has picked up SEBI approval for a ₹750 crore issue, adding another name to what's shaping up to be a packed second half of 2026.
Bottom Line
This week made one thing clear: grey market appetite hasn't cooled off, but it's also not uniform. Big, well-known names like Dhoot Transmission and Shiprocket are pulling strong premiums, while several SME issues are struggling to generate any grey market interest at all. As always, treat GMP as a sentiment indicator, not a guarantee — subscription data and company fundamentals still matter more when it comes to actually deciding where to put your money.
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