Jio Platforms to Tonbo: 5 Hot IPOs Spark Up to 71% Grey Market Surge
The Indian primary market is witnessing an explosive surge in investor appetite as four new public issues opened for subscription on Thursday, October 15, 2026, set against the backdrop of intense anticipation for Jio Platforms' upcoming blockbuster listing. The grey market has turned decidedly bullish across all five counters, pricing in handsome double-digit listing pops ranging from 12% to over 71%. With market liquidity returning aggressively to new-age technology, specialized defense imaging, precision engineering, and medtech leaders, retail and institutional participants are closely monitoring unofficial premium trajectories to gauge opening-day momentum across both the BSE and NSE mainboard platforms.
Jio Platforms ₹30,213-Cr Mega IPO on Deck: Anchor Bidding Set for October 19
Leading the primary market frenzy is the colossal ₹30,213-crore public issue of Jio Platforms, scheduled to open for subscription next week from October 21 to October 23, with anchor investor book-building slated for October 19. The digital and telecom giant has established its IPO price band at ₹1,065 to ₹1,119 per share, drawing immediate traction in the unofficial market where the grey market premium (GMP) currently stands at ₹216 per share according to InvestorGain tracking data. This translates to an estimated listing premium of approximately 19.30%, projecting a potential debut price around ₹1,335 per share. Stealing the limelight in pure percentage gains, however, is defense electro-optics specialist Tonbo Imaging India, whose ₹852.18-crore pure offer-for-sale (OFS) opened today with a price band of ₹665 to ₹700; the stock is commanding an astonishing GMP of ₹500, indicating an expected listing pop of 71.43% near the ₹1,200 mark.
High-Growth Manufacturing & MedTech Lineup: Bonfiglioli, Zetwerk, and SMT Draw Double-Digit Premiums
Industrial gearbox and drives manufacturer Bonfiglioli Transmissions also opened its ₹2,533.66-crore issue on Thursday in the ₹558 to ₹586 price band, where a robust GMP of ₹178 signals a potential 30.38% listing gain around ₹764 per share. Concurrently, contract manufacturing unicorn Zetwerk opened its ₹5,012.33-crore IPO priced between ₹143 and ₹151 per share, recording an active GMP of ₹22 that projects an opening premium of roughly 14.57% at ₹173. Rounding out the lineup, cardiovascular medical device maker Sahajanand Medical Technologies launched its ₹475.48-crore issue at ₹327 to ₹344 per share, trading at a grey market premium of ₹44, or a 12.79% expected upside toward ₹388. While elevated grey market premiums highlight buoyant short-term sentiment, seasoned financial advisors emphasize that unregulated GMP swings remain highly speculative, urging retail investors to anchor portfolio allocations in verifiable financial fundamentals, balance sheet resilience, and company valuations rather than unofficial street estimates.
