It's a busy week on Dalal Street. Several mainboard IPOs open for subscription on Thursday, 15 October 2026 and close on Monday, 19 October, even as the broader market is under pressure. Below are the confirmed price bands, lot sizes and dates for the biggest issues, followed by what to check before you apply.
IPOs opening this week at a glance
| IPO | Price band (₹) | Lot size | Min. investment* | Issue size | Type |
|---|
| Zetwerk Manufacturing Businesses | 143 – 151 | 99 shares | ₹14,949 | ~₹5,012 cr | Fresh issue ₹2,830 cr + OFS |
| Tonbo Imaging India | 665 – 700 | 21 shares | ₹14,700 | ~₹852 cr | Offer for sale |
| Sahajanand Medical Technologies | 327 – 344 | 43 shares | ₹14,792 | ~₹475 cr | Book-built |
*At the upper end of the price band, for one lot.
Key dates (tentative)
| Event | Date |
|---|
| Anchor bidding | 14 October 2026 |
| Subscription opens | 15 October 2026 |
| Subscription closes | 19 October 2026 |
| Basis of allotment | ~21 October 2026 |
| Refunds and demat credit | ~22 October 2026 |
| Listing on BSE and NSE | ~23 October 2026 |
Allotment and listing dates are tentative and come from the issue timetables. Confirm them with the registrar (KFin Technologies for Zetwerk and Tonbo, MUFG Intime for Sahajanand) closer to the date.
Zetwerk IPO: the biggest issue of the week
Zetwerk is a Bengaluru-based contract manufacturing company that makes parts and products for customers across industries. The IPO is worth about ₹5,012 crore at the top of the band: a ₹2,830 crore fresh issue plus an offer for sale (OFS) of 14.45 crore shares by promoters and early investors including Lightspeed, Peak XV and Accel.
- Use of money: about ₹2,160 crore of the fresh issue goes to repaying debt at the company and nine subsidiaries; the rest is for acquisitions and general corporate purposes.
- Valuation: roughly ₹25,583 crore at the upper price band.
- Watch: read the RHP's financial statements and risk factors carefully, including profit history and debt.
Tonbo Imaging India IPO
Tonbo Imaging is a Bengaluru defence electronics maker known for thermal and night-vision imaging systems. The ₹852 crore issue is entirely an offer for sale, which means the company itself receives none of the money; it goes to selling shareholders. Defence stocks have been popular, but an OFS-only issue is worth questioning: why are existing investors selling now?
Sahajanand Medical Technologies IPO
Sahajanand Medical Technologies (SMT) makes cardiac stents and other medical devices. The ₹475 crore issue is priced at ₹327–344 per share with a lot of 43 shares. Check the RHP for whether any part is a fresh issue, as summaries differ.
What about IPO GMP?
The grey market premium (GMP) is an unofficial, unregulated indicator of how a stock might list. It changes daily, is easy to manipulate and is often wrong, especially in a falling market. We don't publish GMP numbers as a buying signal. Read IPO GMP explained: meaning, trends and risks before you rely on it.
Checklist before you apply
- Read the objects of the issue: is money going into the business or to selling shareholders?
- Compare the valuation (P/E or price-to-sales) with listed peers.
- Look at three years of revenue, profit and debt trends in the RHP.
- Check the subscription status, especially the QIB (institutional) portion, on the last day.
- Only apply with money you can leave invested even if the stock lists below the issue price.
Also see: IPOs to watch in October 2026 and our IPO news page.
Frequently asked questions
Which IPOs open today?
On 15 October 2026, the Zetwerk, Tonbo Imaging India and Sahajanand Medical Technologies IPOs open, along with a few other issues listed on the exchange websites.
How do I apply?
Through your broker's app or your bank's net banking using ASBA, or with a UPI mandate. Retail investors can bid at the cut-off price to be allotted at the final price.
When will I know if I got shares?
The basis of allotment is expected around 21 October. You can check status on the registrar's website using your PAN.
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.
