IPOs in February 2026: Listing Gains, GMP & Subscription
Monthly round-up
By IPO GMP Status desk · Updated 28 February 2026 · How we compile these figures
16 IPOs listed in February 2026 — 3 mainboard and 13 SME. The average listing gain was +2.0%, and 9 of 16 listed above their issue price. The best listing was Accretion Nutraveda at +48.1%. The grey market's estimate was met or beaten in 9 of 16.
IPOs listed in February 2026
| IPO | Type | Listed | Issue price | Listing price | Listing gain | Subscribed | GMP estimate |
|---|---|---|---|---|---|---|---|
| Kasturi Metal Composite | SME | 3 Feb | ₹64 | ₹64 | +0.0% | 17.82x | ₹64 ✓ |
| Accretion Nutraveda | SME | 4 Feb | ₹129 | ₹191 | +48.1% | 1.91x | ₹197 ✗ |
| Msafe | SME | 4 Feb | ₹123 | ₹144 | +17.1% | 166.81x | ₹149 ✗ |
| Kanishk Aluminium | SME | 4 Feb | ₹73 | ₹58.4 | −20.0% | 1.10x | ₹73 ✗ |
| CKK Retail Mart | SME | 6 Feb | ₹163 | ₹163 | +0.0% | 1.69x | ₹163 ✓ |
| Grover Jewells | SME | 11 Feb | ₹88 | ₹96 | +9.1% | 19.24x | ₹88 ✓ |
| Brandman Retail | SME | 11 Feb | ₹176 | ₹183 | +4.0% | 2.02x | ₹193 ✗ |
| PAN HR Solutions | SME | 13 Feb | ₹78 | ₹78.35 | +0.5% | 12.36x | ₹78 ✓ |
| Biopol Chemicals | SME | 13 Feb | ₹108 | ₹111 | +2.8% | 21.22x | ₹112 ✗ |
| Fractal Analytics | Mainboard | 16 Feb | ₹900 | ₹876 | −2.7% | 2.81x | ₹872 ✓ |
| Aye Finance | Mainboard | 16 Feb | ₹129 | ₹129 | +0.0% | 1.04x | ₹126 ✓ |
| Marushika Technology | SME | 19 Feb | ₹117 | ₹120 | +2.6% | 18.01x | ₹119 ✓ |
| Fractal Industries | SME | 23 Feb | ₹216 | ₹229 | +6.0% | 5.52x | ₹224 ✓ |
| Yashhtej Industries | SME | 25 Feb | ₹110 | ₹88 | −20.0% | 0.00x | ₹110 ✗ |
| Manilam Industries | SME | 27 Feb | ₹69 | ₹55.2 | −20.0% | 6.33x | ₹69 ✗ |
| Gaudium IVF | Mainboard | 27 Feb | ₹79 | ₹83 | +5.1% | 7.27x | ₹79 ✓ |
✓ the listing price met or beat the grey market's estimate; ✗ it fell short.
Every listing since the tracker began is on the IPO performance page. GMP is an unofficial estimate, not a promise; see the disclaimer.