Mainboard 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?

13 mainboard IPOs newboard has studied give this figure in their offer documents. The median P/E against the peer median is 21%, and the middle half run from -27% to 62%. A-One Steels India is first, at -46% (P/E at the upper band 24.7×; peer median P/E 45.8×).

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

#	Issue	Stage	P/E against the peer median	P/E at the upper band	Peer median P/E
1	A-One Steels India	Listed	-46%	24.7×	45.8×
2	German Green Steel and Power	Closed	-42%	13.1×	22.5×
3	Runwal Enterprises	Closed	-28%	24.1×	33.4×
4	Moneyview	Listed	-27%	24.7×	33.7×
5	Nityas Gems and Jewellery	Live	4%	19.4×	18.6×
6	Srit India	Closed	4%	19.3×	18.6×
7	Orient Cables (India)	Closed	21%	57.8×	47.8×
8	Swastika Infra	Listed	23%	15.2×	12.4×
9	Varmora Granito	Listed	23%	53.9×	44×
10	Vishal Nirmiti	Live	62%	23.2×	14.3×
11	Shah Investor's Home	Closed	64%	26.8×	16.3×
12	Adroit Industries (India)	Listed	77%	23×	13×
13	ArMee Infotech	Listed	79%	26.2×	14.6×

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

More lists: the price

Every IPO list

The day's IPOs each morning, and allotment the minute it is out, on Telegram

One short post each morning: what opens, closes and lists today, and the new offer-document studies. The allotment status the moment it goes live. An IPO list on Saturdays and the week ahead on Sundays. Each one is a fact and a link, with the figures on the card.

Free, no account, leave in one tap.

Get IPO alerts on Telegramt.me/newboardin