IPOs in May 2026: Listing Gains, GMP & Subscription
Monthly round-up
By IPO GMP Status desk · Updated 28 May 2026 · How we compile these figures
13 IPOs listed in May 2026 — 2 mainboard and 11 SME. The average listing gain was +8.3%, and 8 of 13 listed above their issue price. The best listing was Vegorama Punjabi Angithi at +53.4%. The grey market's estimate was met or beaten in 5 of 13.
IPOs listed in May 2026
| IPO | Type | Listed | Issue price | Listing price | Listing gain | Subscribed | GMP estimate |
|---|---|---|---|---|---|---|---|
| Amba Auto Sales & Services | SME | 5 May | ₹135 | ₹134.5 | −0.4% | 1.19x | ₹135 ✗ |
| OnEMI Technology | Mainboard | 8 May | ₹171 | ₹190 | +11.1% | 9.96x | ₹198 ✗ |
| Value 360 Communications | SME | 11 May | ₹98 | ₹78.4 | −20.0% | 1.25x | ₹98 ✗ |
| Recode Studios | SME | 12 May | ₹158 | ₹213.1 | +34.9% | 234.71x | ₹201 ✓ |
| Simca Advertising | SME | 15 May | ₹183 | ₹156 | −14.8% | 80.94x | ₹185 ✗ |
| Bagmane REIT | Mainboard | 15 May | ₹100 | ₹103.71 | +3.7% | 24.96x | ₹104 ✗ |
| RFBL Flexi Pack | SME | 19 May | ₹50 | ₹52.5 | +5.0% | 21.53x | ₹52 ✓ |
| NFP Sampoorna Foods | SME | 25 May | ₹55 | ₹54.5 | −0.9% | 1.62x | ₹55 ✗ |
| Teamtech Formwork Solutions | SME | 26 May | ₹63 | ₹75 | +19.1% | 7.09x | ₹68 ✓ |
| Vegorama Punjabi Angithi | SME | 27 May | ₹77 | ₹118.1 | +53.4% | 35.23x | ₹86 ✓ |
| Q-Line Biotec | SME | 29 May | ₹343 | ₹452 | +31.8% | 0.00x | ₹472 ✗ |
| Bio Medica Laboratories | SME | 29 May | ₹139 | ₹111.2 | −20.0% | 2.31x | ₹130 ✗ |
| Autofurnish | SME | 29 May | ₹41 | ₹43 | +4.9% | 1.26x | ₹41 ✓ |
✓ 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.