Wealth Journal Insights · Desk · October 14, 2026
Five IPOs are opening October 15 2026, and together they will raise close to Rs 8,934 crore before bidding shuts on October 19. The lineup runs from Zetwerk at Rs 5,012 crore down to a Rs 60 crore Delhi confectioner. This guide covers every one of the IPOs opening October 15 2026 – price band, lot size, allotment date and grey market premium – so you can decide before Thursday rather than after.
Five IPOs opening October 15 2026: complete schedule
The table below is the fastest way to compare the five IPOs opening October 15 2026. Minimum investment is calculated at the upper price band.
| IPO | Issue size | Price band | Lot | Min. investment | Issue type |
|---|---|---|---|---|---|
| Zetwerk Manufacturing Businesses | Rs 5,012.33 Cr | Rs 143-151 | 99 | Rs 14,949 | Fresh + OFS |
| Bonfiglioli Transmissions | Rs 2,533.66 Cr | Rs 558-586 | 25 | Rs 14,650 | OFS only |
| Tonbo Imaging India | Rs 852.18 Cr | Rs 665-700 | 21 | Rs 14,700 | OFS only |
| Sahajanand Medical Technologies | Rs 475.48 Cr | Rs 327-344 | 43 | Rs 14,792 | OFS only |
| Shellz India (BSE SME) | Rs 59.97 Cr | Rs 170-179 | 800 | Rs 2,86,400 | Fresh issue only |
Two patterns are obvious. First, the four mainboard issues are almost identically priced for retail – one lot costs between Rs 13,950 and Rs 14,949 across all four. You could therefore spread your applications without stretching your budget. Shellz is different, because SME rules force a two-lot minimum of Rs 2,86,400.
Second, only two of the IPOs opening October 15 2026 actually put money to work. Shellz takes fresh capital entirely, and Zetwerk takes Rs 2,830 crore of it. The remaining three are exits by existing shareholders. That distinction matters more than most headlines suggest.
OFS means Offer for Sale – existing shareholders sell their own shares and keep the proceeds. Fresh issue means the company issues new shares and receives the money itself.
Zetwerk IPO: the Rs 5,012 crore flagship
Zetwerk is the biggest of the five IPOs opening October 15 2026, and the largest fresh raise. The RHP dated October 11 fixed the fresh issue at Rs 2,830 crore, up from Rs 2,600 crore in the draft. It adds an offer for sale of 14.45 crore shares worth about Rs 2,182 crore, taking the total to Rs 5,012.33 crore.
The price band is Rs 143-151 per share of Re 1 face value, in multiples of 99 shares. Fresh proceeds will repay up to Rs 1,250 crore of company borrowings and up to Rs 550 crore at subsidiaries, with the rest funding acquisitions and general corporate purposes.
Promoters are Amrit Pratik Acharya and Srinath Ramakkrushnan. Founded in 2018, Zetwerk runs 26 owned plants across India, the US, Germany and Spain. Its customers include Siemens Gamesa, CG Power, NTPC Renewable Energy, L&T MHI Power Boiler, DRDO, the Indian Air Force and Numaligarh Refinery. Khosla Ventures, Baillie Gifford, Rakesh Gangwal, Accel, Peak XV and Lightspeed are selling down.
Bonfiglioli Transmissions IPO: Rs 2,534 crore
Bonfiglioli is the second largest of the IPOs opening October 15 2026. It makes gear motors, gearboxes and drive systems under a brand that is close to 70 years old and in India for over 25 years. Its price-band advertisement confirms Rs 558-586 per share of Rs 10 face value, plus a 50,000-share employee reservation at a discount of up to Rs 29.
Because the issue is a complete offer for sale by promoter Bonfiglioli S.p.A., the company raises nothing. Market capitalisation stays at Rs 11,016.56 crore while promoter holding falls from 100% to about 77%. Axis Capital, BNP Paribas, ICICI Securities and Jefferies are the lead managers.
Tonbo Imaging IPO: defence tech with the hottest GMP
Tonbo Imaging India is the defence story among the IPOs opening October 15 2026, and the grey market star of the week. The Bengaluru maker set a Rs 665-700 band for an Rs 852.18 crore offer for sale of 12,174,046 shares, implying a valuation near Rs 4,010 crore.
Grey market trackers put the premium at roughly 61% on October 13, with some platforms quoting about Rs 490 a share. However, GMP is an unofficial dealer signal and never a guarantee.
What is on record: Tonbo builds thermal imaging cores, weapon sights, targeting systems, missile seekers and fire-control hardware. Its customers include NATO forces, the US Special Operations Command, law-enforcement agencies and global defence OEMs. Promoters Arvind Kondangi Lakshmikumar, Ankit Kumar and Cecilia D’Souza are selling alongside six other shareholders. JM Financial and IIFL Capital Services are the lead managers.
Sahajanand Medical Technologies IPO: The Healthcare
Sahajanand Medical Technologies is the healthcare name among the IPOs opening October 15 2026, and the smallest mainboard issue at Rs 475.48 crore. It is entirely an offer for sale of 1,38,22,116 shares of Re 1 face value at Rs 327-344. The lot is 43 shares, so one lot costs Rs 14,792.
The medical devices company makes implantable cardiovascular products. Restated financials show total income of about Rs 1,218.73 crore in FY2026 and profit after tax near Rs 69.08 crore. Promoter Shree Hari Trust, promoter-group member Dhirajkumar Savjibhai Vasoya and three investors are selling.
Shellz India IPO: the Rs 60 crore SME wildcard
Shellz India is the SME entry among the IPOs opening October 15 2026, and the one most round-ups miss. The Delhi confectionery maker – brands Hugs and Tosca, more than 300 products – is raising Rs 59.97 crore entirely through a fresh issue of 33,50,400 shares at Rs 170-179.
Every rupee reaches the company. Rs 22 crore goes to repaying borrowings, Rs 23 crore to working capital, and the balance to general corporate purposes. Promoters Kapil Garg and Shalini Garg control the business, and Socradamus Capital is the lead manager.
The catch is ticket size. The minimum retail application is two lots – 1,600 shares, Rs 2,86,400 – and the cut-off option mainboard investors rely on is not available. Grey market premium was quoted at zero on October 13.
IPOs opening October 15 2026: full timeline
Every one of the IPOs opening October 15 2026 runs the same three-day window. The dates below are indicative and set out in each Red Herring Prospectus.
| Event | Date |
|---|---|
| Anchor investor bidding (all five) | Wednesday, October 14, 2026 |
| IPOs open for subscription | Thursday, October 15, 2026 |
| IPOs close for subscription | Monday, October 19, 2026 |
| Expected basis of allotment | Wednesday, October 21, 2026 |
| Refunds and demat credit | Thursday, October 22, 2026 |
| Expected listing on BSE and NSE | Friday, October 23, 2026 |
How to apply for the IPOs opening October 15 2026
Whichever of the IPOs opening October 15 2026 you choose, the mechanics are the same. Follow this checklist before you bid.
- You need a demat and trading account, plus a bank account that supports ASBA or a UPI mandate.
- Bid at the cut-off to maximise allotment chances. For SME issues such as Shellz there is no cut-off, so bid at the cap.
- One lot is the minimum on the mainboard; SME issues usually require two. Smaller applications are rejected.
- Approve your UPI mandate before 4 pm on October 19.
- Confirm whether an issue is fresh, OFS or both before you commit.
- Additionally, read the risk factors in the RHP. Subscription numbers alone are not a reason to buy.
You can cross-check every schedule directly on the NSE upcoming issues page or the BSE public issues page. For our take on other IPOs opening this quarter, see our market section.
SME versus mainboard: what changes with Shellz
Shellz behaves differently from the other four in three practical ways, even though it is one of the IPOs opening October 15 2026. Its lot is 800 shares rather than 20 to 99, so the minimum cheque is roughly nineteen times larger than a mainboard lot. It lists on the BSE SME platform, where liquidity is thinner. And it has no retail cut-off, so you must bid deliberately at the upper price.
As a result, committing Rs 2.86 lakh to a Rs 60 crore issue is a different risk profile from applying for one Rs 14,000 mainboard lot.
Five IPOs opening October 15 2026 – Zetwerk, Bonfiglioli, Tonbo Imaging, Sahajanand Medical Technologies and Shellz India – raise close to Rs 8,934 crore before bidding closes on October 19. Zetwerk and Shellz put fresh capital to work; the other three are exits. Tonbo carries the loudest grey market buzz, but GMP is a rumour, not a forecast. Read the RHP, respect the lot size, and apply only if the business makes sense to you at the price band.
Disclaimer: This article is for informational purposes only and is not investment advice. Grey market premium figures are unofficial and can change or vanish before listing. Issue dates, price bands and allotment schedules are as per Red Herring Prospectus and price-band advertisements dated October 10-12, 2026, and are subject to revision. SME shares carry higher liquidity and volatility risk. Read the RHP and consult a SEBI-registered advisor before investing.
Sources: Red Herring Prospectus and price-band advertisements of Bonfiglioli Transmissions, Zetwerk Manufacturing Businesses, Tonbo Imaging India, Sahajanand Medical Technologies and Shellz India filed with SEBI, the Registrar of Companies and BSE (October 2026); NSE and BSE public issue disclosures;
