IPO Watch: 4 Upcoming and Open Issues With Strong Grey Market Sentiment—Up to 77% Expected Listing Gains

• by Akanksha Mishra
• 2026-08-20 12:03:00

The primary market continues to offer lucrative investment opportunities for retail and institutional investors. Currently, two major initial public offerings (IPOs) are open for public subscription, while two more are scheduled to hit the market in the coming days. Backed by positive market momentum, the grey market is anticipating healthy to exceptional listing gains across these issues.

The companies currently in focus are Tempsens Instruments, Gaja Capital, Augmont Enterprises, and Skyways Air Services. Among them, Gaja Capital's issue opened on August 19 and achieved full subscription by its second day, while Tempsens Instruments opened for bidding on August 20.

1. Tempsens Instruments IPO

Subscription Dates: August 20 to August 24, 2026

Issue Size: ₹650 crore (comprising a fresh issue of ₹95 crore and an Offer for Sale (OFS) of ₹555 crore)

Price Band: ₹285 to ₹300 per share

Lot Size: 50 shares (Minimum investment of ₹15,000 at the upper price band)

Tentative Listing Date: August 27, 2026 (BSE and NSE)

GMP Outlook: The current grey market premium (GMP) stands at around ₹230. Based on the upper price band of ₹300, the estimated listing price is approximately ₹530, pointing toward potential listing gains of 77%.

2. Gaja Capital IPO

Subscription Dates: August 19 to August 21, 2026 (Fully subscribed on Day 2)

Issue Size: ₹550 crore (Fresh issue of ₹450 crore and OFS of ₹100 crore)

Price Band: ₹152 to ₹160 per share

Lot Size: 93 shares (Minimum investment of ₹14,880)

GMP Outlook: The current GMP indicates a premium of ₹24, translating to an estimated listing price of ₹184 and a potential gain of approximately 15%.

3. Augmont Enterprises IPO

Subscription Dates: August 21 to August 25, 2026

Issue Size: ₹825 crore (Fresh issue of ₹620 crore and OFS of ₹205 crore)

Price Band: ₹750 to ₹788 per share

Tentative Listing Date: August 31, 2026 (BSE and NSE)

Business Focus: Operating across the gold and silver value chain, including procurement, refining, bullion trading, digital gold, and jewelry manufacturing platforms. Proceeds will be utilized for working capital and inventory requirements.

GMP Outlook: The current GMP is estimated at ₹280, pointing to an expected listing price of ₹1,068—a potential gain of about 36%.

4. Skyways Air Services IPO

Subscription Dates: August 24 to August 27, 2026

Issue Size: Approximately ₹582.8 crore (Fresh issue of ₹398.8 crore and OFS of ₹184 crore)

Price Band: ₹131 to ₹138 per share

Lot Size: 100 shares (Minimum investment of ₹13,800)

Tentative Listing Date: September 1, 2026 (BSE and NSE)

GMP Outlook: The prevailing GMP is around ₹42, suggesting an estimated listing price of ₹180 and potential gains of roughly 30%.

What Investors Should Keep in Mind Regarding GMP

While grey market premiums reflect current market sentiment and investor enthusiasm, market experts emphasize that GMP is entirely unofficial and subject to rapid fluctuations. Investors are advised to rely primarily on fundamental company valuations, financial strengths, and business models rather than speculative grey market trends when making investment decisions.

Previous Post

Safe, Secure, and Guaranteed: Why Post Office RD is Toppling Market Investments in 2026