The primary market is busy this week. Four mainboard IPOs worth over ₹8,800 crore are open for subscription from 15 to 19 October 2026, just before the huge Jio Platforms IPO on 21 October. Retail investors need less than ₹15,000 to apply for one lot of any of them.
Here is a quick look at each issue: what the company does, the key numbers, and the points to think about.
📋 Quick Comparison
| IPO | Price band (₹) | Lot size | Min. investment | Issue size | Type |
|---|---|---|---|---|---|
| Zetwerk Manufacturing | 143 – 151 | 99 | ₹14,949 | ≈ ₹5,012 Cr | Fresh ₹2,830 Cr + OFS |
| Bonfiglioli Transmissions | 558 – 586 | 25 | ₹14,650 | ≈ ₹2,534 Cr | 100% OFS |
| Tonbo Imaging India | 665 – 700 | 21 | ₹14,700 | ≈ ₹852 Cr | 100% OFS |
| Sahajanand Medical Tech | 327 – 344 | 43 | ₹14,792 | ≈ ₹475 Cr | 100% OFS |
Subscription: 15 – 19 October 2026 · Expected listing: around 23 October 2026
🏭 1. Zetwerk Manufacturing
Zetwerk is a B2B manufacturing company. It connects customers in infrastructure, energy, aerospace and consumer electronics with a network of manufacturing partners, and also runs its own factories. It is one of India's better-known startups from the manufacturing and supply-chain space.
- Largest issue of the week at about ₹5,012 crore, with ₹2,830 crore of fresh money for the company.
- Reported anchor book of about ₹2,251 crore, which shows institutional interest.
- Things to check: profitability trend, working-capital intensity and margins. Contract manufacturing typically earns thin margins.
🎯 2. Tonbo Imaging India
Tonbo Imaging designs and makes advanced imaging and sensor systems for defence, such as thermal and night-vision equipment. It sits in the fast-growing defence electronics space, which benefits from India's push for local defence manufacturing.
- Smallest-ticket defence-tech story of the week (≈ ₹852 crore).
- Grey market interest was reportedly very high early on. Such numbers change quickly and are unofficial.
- Things to check: 100% OFS means no fresh money goes to the company. Look at customer concentration (government and defence orders) and how much is being sold by existing shareholders.
⚙️ 3. Bonfiglioli Transmissions
Bonfiglioli Transmissions is the Indian arm of Italy's Bonfiglioli group. It makes gearboxes, gear motors and drive systems used in industrial machinery, wind turbines, mobile machinery and automation.
- Exposure to capital goods, renewables (wind) and automation.
- Reported anchor book of about ₹759 crore.
- Things to check: 100% OFS by the promoter, royalty or related-party payments to the parent, and valuation compared with listed capital-goods peers.
❤️ 4. Sahajanand Medical Technologies (SMT)
SMT is a Surat-based maker of cardiovascular medical devices, best known for coronary stents. It sells in India and exports to many countries.
- Smallest issue of the week (≈ ₹475 crore). Reported anchor book of about ₹140 crore.
- A play on India's growing medical devices industry.
- Things to check: 100% OFS, the effect of stent price caps (NPPA) on margins, and competition from global brands.
🧠 How to Decide Which IPO to Apply For
- Read the RHP summary, especially the objects of the issue, financials, risk factors and peer comparison.
- Fresh issue vs OFS: A fresh issue brings money into the business. An OFS only gives existing shareholders an exit.
- Check valuation (P/E, EV/EBITDA) against listed peers, not against the hype.
- Watch subscription data, especially QIB demand, which usually shows on day 3.
- Plan for Jio: If you also want to apply for the Jio IPO on 21 October, keep enough money in your account, because blocked IPO funds are only released after allotment.
✅ Key Takeaways
- Four mainboard IPOs are open from 15 to 19 October 2026, worth over ₹8,800 crore in total.
- One lot of each needs less than ₹15,000.
- Only Zetwerk has a fresh issue component. The other three are pure offers for sale.
- Don't apply only because of GMP. Look at the business, valuation and your own goals.
❓ Frequently Asked Questions
Which IPOs are open this week in India (15–19 October 2026)?
Zetwerk Manufacturing, Tonbo Imaging India, Bonfiglioli Transmissions and Sahajanand Medical Technologies are the four mainboard IPOs open this week.
What is the listing date of Zetwerk IPO?
Listing is expected around 23 October 2026. Check NSE/BSE for confirmation.
Can I apply for multiple IPOs at the same time?
Yes, as long as you have enough balance in your bank account. Each application blocks its amount until allotment.
What does 100% OFS mean in an IPO?
It means existing shareholders are selling their shares. The company does not receive any new money from the IPO.