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IPOs priced lowest against the peers they named

Which IPOs came at the lowest P/E compared with the listed peers the company itself chose?

31 IPOs newboard has studied give this figure in their offer documents. The median P/E against the peer median is -4%, and the middle half run from -42.5% to 27.5%. Roopa Screen (SME) is first, at -78% (P/E at the upper band 10.9×; peer median P/E 50.5×).

Ranked on 4 Oct 2026. The list moves as studies are added.

#IssueBoardStageP/E against the peer medianP/E at the upper bandPeer median P/E
1Roopa Screen SMESMEClosed-78%10.9×50.5×
2Unitec Fibres SMESMEClosed-69%16.7×54.1×
3TNA Solutions SMESMELive-62%14.9×39.6×
4Peshwa Wheat SMESMEClosed-55%12.2×27×
5R.K. Fashion Accessories SMESMEUpcoming-54%20.2×44.3×
6Axiom Gas Engineering SMESMEClosed-49%20.2×39.8×
7A-One Steels IndiaMainboardListed-46%24.7×45.8×
8Acme Universal Safezone 9 SMESMEClosed-43%23.1×40.8×
9Bench Mark Infotech Services SMESMEDRHP filed-42%15.4×26.6×
10German Green Steel and PowerMainboardClosed-42%13.1×22.5×
11Dudani Retail SMESMEClosed-33%15.8×23.7×
12Shivchem Agro SMESMEClosed-33%14.4×21.5×
13Green Asia Impex SMESMEClosed-29%12.3×17.2×
14Runwal EnterprisesMainboardClosed-28%24.1×33.4×
15MoneyviewMainboardListed-27%24.7×33.7×
16Coreintegra Consulting Services SMESMEClosed-4%18.1×18.9×
17Shree TNB Polymers SMESMELive1%15.9×15.7×
18Nityas Gems and JewelleryMainboardLive4%19.4×18.6×
19Srit IndiaMainboardClosed4%19.3×18.6×
20Eventions SMESMELive11%18.6×16.7×
21Orient Cables (India)MainboardClosed21%57.8×47.8×
22Swastika InfraMainboardListed23%15.2×12.4×
23Varmora GranitoMainboardListed23%53.9×44×
24Himalayan Solar SMESMEClosed32%11×8.3×
25Pooja Logistics SMESMEClosed41%13.3×9.4×
26Liqvd Digital India SMESMEClosed53%17.7×11.6×
27Vishal NirmitiMainboardLive62%23.2×14.3×
28Shah Investor's HomeMainboardClosed64%26.8×16.3×
29Adroit Industries (India)MainboardListed77%23×13×
30ArMee InfotechMainboardListed79%26.2×14.6×
31Sai Urja Indo Ventures SMESMEClosed81%20.4×11.3×

How this list is ranked

The P/E at the upper end of the band against the median P/E of the listed peers in the offer document's basis-for-price section, as a percentage above or below it. The company chooses its own peers, and they may not run the same business. A list ranks the issues by one figure from each offer document. It places them; it says nothing about whether any of the shares is worth owning.

Every issue, with other conditions added, in the screener

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