Investors are closely tracking IPO GMP, subscription status, price bands, issue size and expected listing gains before making their investment decisions.
The current IPO calendar shows a busy primary market, with several issues competing for investor attention at the beginning of September.
IPO Market Update: September Starts With Strong Activity
The September IPO season has started with multiple offerings across the Mainboard and SME segments.
Among the notable IPOs currently in focus are:
| IPO | Segment | Price Band | IPO Status | GMP* |
|---|---|---|---|---|
| ESDS Software Solution | Mainboard | ₹408–₹429 | Open | ₹335 |
| Lumino Industries | Mainboard | ₹78–₹82 | Closed | ₹61 |
| Priority Jewels | Mainboard | ₹190–₹200 | Closing | ₹45 |
| Kwick Forensic Solutions | SME | ₹85–₹90 | Closed | ₹70 |
| Paluck Technologies | SME | ₹46–₹48 | Closing | ₹25 |
| Complete Sports & Management India | SME | ₹128–₹135 | Closing | TBA |
*GMP figures are unofficial grey-market indications and can change frequently.
According to the latest IPO data, ESDS Software Solution is currently showing one of the strongest GMP indications among the active offerings, while Kwick Forensic Solutions and Lumino Industries are also attracting attention from IPO investors.
ESDS Software Solution IPO GMP
The ESDS Software Solution IPO is one of the major Mainboard IPOs being watched by investors this week.
The IPO has a price band of ₹408 to ₹429 per share, with a reported GMP of around ₹335. Based on the current GMP indication, the grey market is implying a potentially strong premium over the IPO price.
However, investors should remember that GMP is not an official exchange indicator and should not be considered a guarantee of the actual listing price.
The final listing price will depend on market conditions, demand, subscription levels and overall investor sentiment.
Lumino Industries IPO
The Lumino Industries IPO is another Mainboard issue that has attracted significant attention.
The IPO was offered in the price band of ₹78 to ₹82 per share, while the latest GMP indication is around ₹61.
The issue is scheduled to list on September 3, 2026.
The strong grey-market premium indicates positive unofficial sentiment ahead of listing, although investors should wait for the actual market debut before judging the final listing performance.
Priority Jewels IPO
The Priority Jewels IPO is also among the key issues in focus at the beginning of September.
The company has set a price band of ₹190 to ₹200 per share, while the latest GMP is around ₹45.
The IPO closes on September 1, 2026, with the shares expected to list on September 4, 2026.
The issue has received strong investor interest, and market reports indicate that subscription demand has been particularly strong during the bidding period.
SME IPOs Also Remain Active
The SME IPO segment continues to provide a large number of opportunities for investors, although SME IPOs generally involve different risk characteristics compared with Mainboard issues.
Kwick Forensic Solutions IPO
Kwick Forensic Solutions has a price band of ₹85–₹90 per share and a reported GMP of around ₹70.
The IPO is scheduled for listing on September 3, 2026.
Paluck Technologies IPO
Paluck Technologies is another SME IPO attracting attention.
The company has a price band of ₹46–₹48 per share, while the latest GMP indication is around ₹25.
The IPO is scheduled to close on September 1, with listing expected on September 4, 2026.
Complete Sports & Management India IPO
Complete Sports & Management India is also open for subscription until September 1.
The issue has a price band of ₹128–₹135 per share, while GMP is currently not available or not established.
The expected listing date is September 4, 2026.
What Is GMP and Why Do IPO Investors Track It?
GMP stands for Grey Market Premium.
It represents the premium at which an IPO is reportedly being traded in the unofficial grey market before its stock-market listing.
For example, if:
- IPO price = ₹200
- GMP = ₹50
The implied estimated listing price would be approximately:
₹200 + ₹50 = ₹250
This would represent an estimated premium of around 25% over the IPO price.
However, GMP is unofficial and can change rapidly. It should therefore be treated as an indicator of market sentiment rather than a guaranteed listing prediction.
GMP vs Actual Listing Price
One of the biggest mistakes new IPO investors make is assuming that the GMP will directly determine the listing price.
That is not always the case.
An IPO can:
- List above the GMP indication
- List close to the GMP indication
- List below the GMP indication
- Even list at a discount despite having a positive GMP
Market volatility, institutional participation, subscription demand and broader market sentiment can all influence the actual listing.
September IPO Calendar: What Investors Should Watch
The first week of September is particularly active.
Several IPOs are either closing or preparing for listing, creating a busy period for IPO investors.
Investors should track the following before applying for any IPO:
- IPO price band
- Lot size and minimum investment
- IPO subscription status
- Retail subscription
- QIB and NII participation
- Latest GMP
- Company financial performance
- Valuation
- IPO objectives
- Expected listing date
Checking GMP alone is not enough to evaluate an IPO.
IPO GMP Today: Keep Checking for Updates
IPO GMP can change multiple times before listing. Investors should therefore check the latest GMP rather than relying on an old figure.
For the latest IPO GMP, subscription status, IPO dates, price bands, lot sizes and expected listing information, investors can follow GMP IPO Watch for regular updates.
Final Takeaway
September 2026 is shaping up to be another active month for India's primary market.
With several Mainboard and SME IPOs currently active or preparing for listing, investors have plenty of opportunities to monitor. Issues such as ESDS Software Solution, Priority Jewels, Lumino Industries, Kwick Forensic Solutions and Paluck Technologies are among the IPOs attracting significant attention based on current grey-market indications.
However, GMP should never be the only reason to apply for an IPO. Investors should consider the company's financials, valuation, business model, industry outlook, subscription data and overall market conditions before making an investment decision.
Stay updated with the latest IPO GMP, subscription status and listing updates on GMP IPO Watch.
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