Dalal Street To Buzzes Again: IPO Market Back in Action After Two Weeks of Lull
The IPO market at Dalal Street has entered its active phase after two weeks of inactivity. The mainboard IPO space had been quiet, with investor participation cooling in recent listings, but next week promises fresh excitement. From February 20 to 24, four companies will initiate their public issues, which aim to raise total funds of Rs 3,755.24 crore. Subscription numbers currently attract traders and investors, who want to know whether these IPOs will experience strong initial performance or face difficult beginning days.
The combination of healthcare, renewable energy, and diamond jewellery sectors provides options that suit all consumer preferences. Retail and institutional investors alike are brushing up on their strategies, calculating minimum investments, and debating whether to jump in early. The IPO market has resumed its operations, creating a vibrant atmosphere of excitement that fills Dalal Street.
Upcoming IPOs On Dalal Street: Key Details and Expected Gains
India’s primary market is buzzing as four major IPOs are set to open between February 20 and February 26, 2026. Here’s a breakdown of each IPO, their size, dates, price band, and potential gains based on the latest grey market premiums:
Gaudium IVF IPO – Opens February 20
- Issue Size: Rs 165 crore (Fresh issue: Rs 90 crore, Offer for Sale: Rs 75 crore)
- IPO Dates: February 20–24, 2026
- Price Band: Rs 75–79 per share | Lot Size: 189 shares
- Grey Market Premium (GMP): Rs 12
- Estimated Listing Price: Rs 91 (≈ 15.19% gain)
- Lead Manager / Registrar: Sarthi Capital Advisors Pvt. Ltd. / Bigshare Services Pvt. Ltd.
This IPO aims to attract healthcare sector investors, offering a mix of fresh issue and sale shares.
Shree Ram Twistex IPO – Opens February 23
- Issue Size: Rs 110.24 crore (Fresh issue: 1.06 crore shares)
- IPO Dates: February 23–25, 2026
- Price Band: Rs 95–104 per share | Lot Size: 144 shares
- Grey Market Premium (GMP): Rs 5
- Estimated Listing Price: Rs 109 (≈ 4.81% gain)
- Lead Manager / Registrar: Interactive Financial Services Ltd. / Bigshare Services Pvt. Ltd.
This cotton yarns manufacturer plans to raise capital for expansion, including a 4.2 MW captive wind power plant.
Clean Max Enviro Energy Solutions IPO – Largest Issue
- Issue Size: Rs 3,100 crore (Fresh: Rs 1,200 crore, Offer for Sale: Rs 1,900 crore)
- IPO Dates: February 23–25, 2026
- Price Band: Rs 1,000–1,053 per share | Lot Size: 14 shares
- Grey Market Premium (GMP): Rs 9
- Estimated Listing Price: Rs 1,062 (≈ 0.85% gain)
- Lead Manager / Registrar: Axis Capital Ltd. / MUFG Intime India Pvt. Ltd.
- Pre-IPO Fundraising: Rs 1,185 crore from global investors including Temasek and Bain Capital
As India’s largest commercial and industrial renewable energy provider, Clean Max Enviro is targeting tech, data center, and industrial energy sectors.
PNGS Reva Diamond Jewellery IPO – Opens February 24
- Issue Size: Rs 380 crore (Fresh issue only)
- IPO Dates: February 24–26, 2026
- Price Band: Rs 367–386 per share | Lot Size: 32 shares
- Grey Market Premium (GMP): Rs 21
- Estimated Listing Price: Rs 407 (≈ 5.44% gain)
- Lead Manager / Registrar: Smart Horizon Capital Advisors Pvt. Ltd. / Bigshare Services Pvt. Ltd.
- IPO Purpose: Opening 15 new stores by FY28, marketing, and general corporate purposes
This IPO offers investors an entry into India’s premium diamond jewellery retail segment, backed by P N Gadgil & Sons’ legacy.
GMP Signal Early Investor Sentiment Ahead of Upcoming IPO Listings
| IPO Name | Grey Market Premium (GMP) Today | GMP Two Days Ago | Change | Note |
|---|---|---|---|---|
| Clean Max Enviro Energy Solutions | 0.85% | 1.33% | − 0.48% | Lower than two days ago |
| Shree Ram Twistex | 4.81% | 3.85% | + 0.96% | Slightly higher than Feb 17 |
| PNGS Reva Diamond Jewellery | 5.44% | 4.66% | + 0.78% | Higher than two days ago |
Dalal Street is currently experiencing increased activity for initial public offerings, which has attracted the full attention of investors. The week ahead presents multiple business opportunities across a range of sectors, including healthcare and diamond jewellery. Traders and retail investors are developing their trading strategies based on grey market information, which predicts early market gains. They want to know: who will enter the market first, and who will choose to remain cautious.
(With Inputs)
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Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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