Despite a shaky stock market, October 2026 is shaping up as one of the busiest IPO months in years. Companies want to list before the year-end, and investors are waiting for the possible Jio Platforms issue. Here are the IPOs worth watching this month. "Worth watching" doesn't mean "worth buying": each needs its own homework.
October 2026 IPO watchlist
| Company | Business | Size | Dates | Status |
|---|
| Jio Platforms | Telecom & digital (Reliance) | Est. ₹30,000–37,700 cr | Not announced | SEBI observations received; awaiting RHP |
| Zetwerk Manufacturing | Contract manufacturing | ~₹5,012 cr | 15–19 Oct | Price band ₹143–151 |
| Tonbo Imaging India | Defence electronics | ~₹852 cr (OFS) | 15–19 Oct | Price band ₹665–700 |
| Sahajanand Medical Technologies | Cardiac medical devices | ~₹475 cr | 15–19 Oct | Price band ₹327–344 |
| Bonfiglioli Transmissions | Industrial gearboxes & drives | See RHP | Same week | Price band ₹558–586 |
Full dates and lot sizes for this week's issues are in upcoming IPOs this week.
Reliance's telecom and digital business filed its draft prospectus on 19 June 2026 and received SEBI's observations on 28 August. The draft describes a fresh issue of up to 27 crore shares, with most of the money going to repay Reliance Jio's debt. It could become India's largest IPO, overtaking Hyundai Motor India. Price band and dates are still unconfirmed. See Jio IPO vs Hyundai IPO.
2. Zetwerk: manufacturing play with a big fresh issue
A ₹2,830 crore fresh issue plus an offer for sale, with about ₹2,160 crore going to cut debt. At the top of the band the company is valued at roughly ₹25,583 crore. Key questions: profitability trend, working capital needs and customer concentration.
3. Tonbo Imaging: defence theme, but all OFS
Defence electronics has been a popular theme. The issue is entirely an offer for sale, so the company raises no new capital. Compare valuation with listed defence electronics peers before applying.
4. Sahajanand Medical Technologies: healthcare devices
A smaller issue from a cardiac stent maker. Medical devices are a growth area in India, but pricing caps and competition from global brands are real risks.
How to pick between IPOs
- Fresh issue vs OFS: money going into the company is usually better for future growth than money going to sellers.
- Valuation: compare P/E or EV/EBITDA with listed peers, not with the hype.
- Financial track record: at least three years of rising revenue and improving profit.
- Institutional demand: strong QIB subscription is a better signal than grey market chatter. Read why GMP can mislead.
- Market mood: in a falling market, even good IPOs can list flat or lower.
Frequently asked questions
Which is the biggest IPO in October 2026?
If it opens this month, Jio Platforms. Among confirmed issues, Zetwerk at about ₹5,012 crore.
Can I apply for more than one IPO in the same week?
Yes, as long as you have enough funds blocked for each application. Use one application per PAN per IPO.
Are IPOs safer than listed stocks?
No. IPOs carry extra risk because there's no trading history, and many are priced to leave little upside on listing day.
Sources
Disclaimer: This article is for information and education only. It is not investment advice or a recommendation to buy or sell any security. Figures are taken from the sources listed and may change; check official exchange filings before investing.
