Last Updated on October 19, 2026 11:44 pm by INDIAN AWAAZ
By BIBHUDATTA PRADHAN
Despite weakness in the secondary market, investor appetite for public issues remained strong, with several ongoing IPOs attracting robust subscription levels on the final day of bidding.
Defence and imaging technology firm Tonbo Imaging India emerged as the standout performer, garnering bids for over 135 times the shares on offer, reflecting strong investor confidence in the defence and advanced technology sectors.
Industrial equipment maker Bonfiglioli Transmissions also witnessed overwhelming demand, with its IPO subscribed nearly 46 times, underscoring sustained interest in manufacturing and industrial growth themes.
In the healthcare segment, Sahajanand Medical Technologies attracted bids worth more than 14 times the issue size, while Zetwerk Manufacturing Business received subscriptions of just over three times, indicating steady interest from investors despite broader market volatility.
All four public issues opened for subscription on October 15 and closed on October 19. Market participants said the strong response highlights continued confidence in quality offerings, even as benchmark indices witnessed sharp declines amid global uncertainties and profit booking.
Analysts noted that strong participation in the primary market suggests ample liquidity and a sustained willingness among investors to back companies with strong sectoral growth prospects, particularly in defence, manufacturing, healthcare and industrial technology.
The strong oversubscription figures are expected to keep the IPO market active in the coming months, with several companies reportedly preparing to tap the capital markets before the end of the financial year.
Disclaimer: Subscription figures are based on exchange data available at the close of bidding on October 19, 2026, and may be subject to final reconciliation. This report is for informational purposes only and does not constitute investment advice.