Mainboard IPOs most subscribed by institutions (QIBs)

Which IPOs drew the most bids from qualified institutional buyers, the funds, banks and insurers?

195 mainboard IPOs since 2025 have a final subscription figure. The median institutions (QIB), times is 21.3×, and the middle half run from 1.9× to 90.4×. Highway Infrastructure is first, at 328.9× (times subscribed overall 194.2×; retail or individual 92.8×).

Ranked on 4 Oct 2026; the first 50 of 195 are shown. The list moves as bidding closes on new issues.

#	Issue	Stage	Institutions (QIB), times	Times subscribed overall	Retail or individual
1	Highway Infrastructure	Listed	328.9×	194.2×	92.8×
2	Tempsens Instruments (India)	Listed	230.2×	130.9×	33.4×
3	Lumino Industries	Listed	211.3×	104.7×	26×
4	Hy-Tech Engineers	Listed	199.6×	173.3×	102.2×
5	Pranav Constructions	Listed	194.7×	87.1×	27.4×
6	Kusumgar	Listed	191.7×	84.7×	14×
7	CMR Green Technologies	Listed	189.6×	93.5×	17.2×
8	Standard Glass Lining Technology	Listed	176.9×	90.4×	28.7×
9	Bharat Coking Coal	Listed	170.5×	98.8×	38.3×
10	Augmont Enterprises	Listed	168.3×	79.8×	21.4×
11	ESDS Software Solution	Listed	167.6×	96.1×	27×
12	GNG Electronics	Listed	165.7×	93.8×	30.7×
13	Moneyview	Listed	163.4×	73×	14.1×
14	Ardee Industries	Listed	162.2×	109.6×	35.7×
15	Kanohar Electricals	Listed	158.8×	69.5×	14.7×
16	Patel Retail	Listed	157.9×	57.3×	25.6×
17	Regaal Resources	Listed	157.5×	111.4×	35.3×
18	Adroit Industries (India)	Listed	150.3×	121.5×	57.8×
19	Caliber Mining and Logistics	Listed	150.2×	97.2×	29.7×
20	INDO-MIM	Listed	143.9×	51.9×	4.4×
21	Symbiotec Pharmalab	Listed	142.3×	58.3×	8.3×
22	SS Retail	Listed	138.6×	71.3×	24.8×
23	Dhoot Transmission	Listed	137.8×	50×	6×
24	Indo Farm Equipment	Listed	134.4×	98.4×	41.2×
25	Rentomojo	Listed	133.6×	55.2×	9.7×
26	Denta Water and Infra Solutions	Listed	132.9×	103.1×	38.6×
27	Advit Jewels	Listed	130.5×	143×	52.1×
28	TruAlt Bioenergy	Listed	128.4×	55.6×	7.8×
29	Behari Lal Engineering	Listed	128×	81.6×	33.4×
30	Seshaasai Technologies	Listed	126.3×	45.1×	5.9×
31	Knack Packaging	Listed	123.5×	69.1×	14.3×
32	Stallion India Fluorochemicals	Listed	120.7×	103.1×	35.3×
33	Midwest	Listed	120.6×	68.1×	16.4×
34	GK Energy	Listed	117.6×	56.9×	13.2×
35	Orient Cables (India)	Closed	115.7×	61.9×	18.5×
36	SBI Funds Management	Listed	115×	34.2×	2.3×
37	Corona Remedies	Listed	114.5×	73.1×	18.8×
38	Milky Mist Dairy Food	Listed	110.9×	41.2×	6.4×
39	Glass Wall Systems (India)	Listed	110.1×	56.6×	23.1×
40	Molbio Diagnostics	Listed	108.6×	43.1×	9.1×
41	Sunshine Pictures	Listed	103.4×	82.2×	42.8×
42	Studds Accessories	Listed	102.8×	43.1×	14.5×
43	Jindal Supreme (India)	Listed	101.9×	125.1×	83.7×
44	Lalithaa Jewellery Mart	Listed	101.1×	46.8×	9.4×
45	Atlanta Electricals	Listed	100.7×	36.8×	5.3×
46	Sri Lotus Developers and Realty	Listed	100.5×	39.6×	9.1×
47	Shanti Gold International	Listed	98×	58.7×	15.6×
48	LG Electronics India	Listed	93.6×	31.1×	2.4×
49	Karamtara Engineering	Listed	90.8×	37.5×	9×
50	Skyways Air Services	Listed	90.1×	48.5×	16.3×

How this list is ranked

Times the qualified institutional buyers' portion (excluding the anchor portion) was subscribed at the close of bidding, from the exchanges' bid books, for every issue since 2025 with a final figure. It counts bids, not allotments, and says nothing about the price. 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.

More lists: demand

Most subscribed Mainboard IPOs

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