A Big Day for IPO Investors as Multiple Public Issues Open Together
March 24, 2026, turned into one of the busiest days for India’s primary market as four major IPOs—Sai Parenteral’s Ltd, Amir Chand Jagdish Kumar (Exports) Ltd, Powerica Ltd, and CMPDI—were simultaneously open for subscription. While such a cluster of issues signals strong activity in the capital market, investor mood remains noticeably cautious, primarily due to weak grey market premium (GMP) trends across all issues.
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| IPOs Today LIVE Big IPO Rush on March 24! (AI Generated) |
The ongoing subscription window has created a mix of excitement and uncertainty, especially for retail investors evaluating whether to apply or wait for clearer signals.
Overview of the Four IPOs Open on March 24, 2026
All four IPOs come from different sectors—exports, pharma, engineering, and mining consultancy—offering market participants a diversified basket to consider. Despite the variety, the GMPs remain muted, suggesting limited listing-day enthusiasm.
Key IPOs Open Today (March 24, 2026)
| IPO Name | Sector | Status | Open Date | Close Date | Price Band | Issue Size | Market Sentiment |
|---|---|---|---|---|---|---|---|
| Amir Chand Jagdish Kumar (Exports) Ltd | Export Trading | Open | Mar 24 | Mar 27 | — | ₹440 crore (Fresh Issue) | Mild interest |
| Sai Parenteral’s Ltd | Pharmaceuticals | Open | Mar 24 | Mar 27 | ₹372 – ₹392 | Not Disclosed | Weak GMP |
| Powerica Ltd | Engineering/Power | Open | Mar 24 | — | — | Not Disclosed | Very weak GMP |
| CMPDI (Central Mine Planning and Design Institute Ltd) | Mining Consultancy | Open (Closing Today) | Mar 20 | Mar 24 | — | — | Steady interest |
Note: Price bands for Amir Chand, Powerica, and CMPDI not mentioned in provided text.
Amir Chand Jagdish Kumar IPO: Moderate Interest Amid Sluggish GMP
The ₹440-crore fresh issue by Amir Chand Jagdish Kumar (Exports) Ltd opened today and will remain available for subscription until March 27. The company operates in the export trading business, which usually attracts moderate retail participation but does not always generate high listing premiums.
Despite active primary market conditions, the GMP for Amir Chand stands at just ₹6, translating to a barely 3% expected listing gain. This indicates:
- No aggressive demand from investors
- Market uncertainty around export-linked companies
- Preference for stable sectors in current market conditions
Still, steady subscription may emerge from investors seeking medium-term value rather than quick listing returns.
Sai Parenteral’s IPO: Pharma Interest but Flat GMP
Sai Parenteral's Ltd brings another pharmaceutical company to the market, a sector that typically enjoys higher investor confidence. The IPO is open with a price band of ₹372–₹392 per share.
Despite being a healthcare play, the GMP for Sai Parenteral is flat at ₹0, indicating:
- No grey market premium
- Expectation of neutral listing
- Investors waiting for Day-1 subscription data
Pharma IPOs have historically rewarded long-term investors even if listing gains were muted. Therefore, long-term sentiment may still turn positive.
Powerica IPO: Weak Grey Market Trends Hit Sentiment
Powerica Ltd, known for diesel and gas generator solutions, also opened its IPO today. However, the issue has been impacted by significantly weakening GMP trends.
The stock earlier showed a GMP of ₹6–₹7, but it has now collapsed to ₹0, indicating:
- Very soft investor appetite
- Concern over margins or sector performance
- Possible overvaluation concerns
This sharp decline in GMP has made investors more cautious about applying without analyzing fundamentals.
CMPDI IPO: Supported by Strong Parentage, Yet GMP Is Only Re 1
The Central Mine Planning and Design Institute Ltd (CMPDI) IPO, backed by a strong government-linked parent organization, has been open since March 20 and closes today (March 24).
Despite strong fundamentals and PSU comfort, the GMP is only Re 1, meaning:
- Barely 0.6% expected listing gain
- Market prefers selective PSU plays
- Investors focusing on utility rather than high premium
CMPDI may still attract long-term investors due to its established presence and stable business model.
Market Mood: Busy IPO Week, But Sentiment Stays Cautious
With multiple issues opening at the same time, the primary market is very active. However, weak GMPs show that:
- Investors may be applying cautiously
- There is no over-enthusiasm for any single IPO
- Broader market volatility is influencing decision-making
This pattern reflects a classic “apply only after analyzing fundamentals” phase in the market.
Grey Market Premium (GMP) Comparison of All IPOs
Below is a snapshot of the latest GMP figures provided:
| IPO Name | GMP Today | Estimated Listing Gain | Sentiment |
|---|---|---|---|
| Amir Chand Jagdish Kumar IPO | ₹6 | ~3% | Mild |
| Powerica IPO | ₹0 | 0% | Weak |
| Sai Parenteral’s IPO | ₹0 | 0% | Flat |
| CMPDI IPO | Re 1 | ~0.6% | Neutral/Low |
IPOs Today LIVE: Amir Chand Jagdish Kumar (Exports) IPO subscription status
Amir Chand Jagdish Kumar (Exports) IPO subscription status reached 1.02x on Day 1. The retail portion is subscribed 30%, the NII portion is booked 3.79x, and the QIBs portion has received 58% bids.
The company has received bids for 1,93,72,360 shares against 1,89,05,270 shares on offer as of 15:51 IST, according to BSE data.
IPOs Today LIVE: Key dates to know about Sai Parenteral's IPO
The basis of allotment for Sai Parenteral's IPO will be finalized on Monday, March 30. Refunds will be initiated on Wednesday, April 1, and shares will be credited to demat accounts on the same day.
Sai Parenteral shares are likely to be listed on BSE and NSE on Thursday, April 2.
IPOs Today LIVE: Amir Chand Jagdish Kumar IPO details
The IPO comprises a fresh issue of equity shares worth ₹440 crore, with no offer-for-sale (OFS) component. The offer size was reduced from ₹550 crore as per the original DRHP filed in June 2025. SEBI approved the IPO in October.
The company has already raised ₹13 crore via a pre-IPO placement of 7.55 lakh shares priced at ₹172 each, valuing the firm at ₹1,877 crore.
At the upper price band, the post-issue market cap is expected to be ₹2,195.29 crore. The proceeds will be used for working capital and general corporate purposes.
IPOs Today LIVE: Sai Parenteral's IPO details
Sai Parenteral's IPO aims to raise ₹408.79 crore — including a fresh issue of ₹285 crore and an OFS of ₹123.79 crore from existing shareholders.
OFS participants include Vikasa India EIF I Fund, Tilokchand Punamchand Ostwal, Bhanwar Lal Chandak, Devendra Chawla, Sreelekha Ganta, Ashish Maheshwari, Vijay Gondi, Padma Guntupalli, Nilesh Pravinchandra Doshi, and Bhautik Mukund Shah.
The company will allocate funds for capacity expansion, a new R&D center, debt repayment, working capital, and general corporate needs.
IPOs Today LIVE: Powerica IPO details
The IPO includes a fresh issue of ₹700 crore and an OFS of ₹300 crore by promoters, according to the RHP. The OFS size was reduced from ₹700 crore earlier, lowering the total issue size to ₹1,000 crore from ₹1,400 crore proposed in August 2025.
Shares will be sold by the Naresh Oberoi Family Trust and Kabir & Kimaya Family Private Trust. Of the fresh issue proceeds, ₹525 crore will be used for debt reduction, with additional funds for general corporate purposes.
IPOs Today LIVE: Central Mine Planning IPO review
The IPO has seen muted demand across all categories during its three-day window. Day 1 saw a weak start with subscription at 0.07x. Day 2 improved mainly due to QIB interest (0.62x), closing at 0.26x. Day 3 showed minimal improvement, ending at 0.28x.
QIB participation stalled at 0.62x. NII/HNI remained weak at 0.10x. Retail improved slightly to 0.20x but remained under-subscribed. Employee and shareholder categories showed low interest.
Despite strong fundamentals—high margins, strong RoE, zero debt, and PSU support—the subscription trend indicates weak market appetite due to:
- Poor market sentiment and falling indices
- Coal sector overhang
- OFS-only issue
- Limited near-term growth triggers
Gaurav Garg of Lemonn Markets Desk says the IPO is suitable for long-term conservative investors, but not ideal for listing gains.
IPOs Today LIVE: Sai Parenteral's IPO subscription status
Sai Parenteral IPO subscription stood at 2% on Day 1. Retail category is subscribed 2%, NII category 5%, while QIBs have not yet placed bids.
The company received bids for 1,43,450 shares against 75,22,486 shares on offer as of 12:21 IST, per BSE data.
IPOs Today LIVE: Amir Chand Jagdish Kumar IPO GMP today
The IPO GMP stands at ₹7. Based on the upper price band and current premium, the expected listing price is ₹219, about 3.30% above the IPO price of ₹212.
In the past 12 sessions, the GMP trend has been upward. The lowest GMP observed was ₹0, while the highest was ₹7, suggesting a likely strong listing.
IPOs Today LIVE: Powerica IPO GMP today
Powerica IPO GMP is ₹5. Based on the upper price band, the estimated listing price is ₹400, about 2.83% higher than the IPO price of ₹395.
Over the past eight sessions, GMP trends downward. Analysts note a minimum GMP of ₹0 and a maximum of ₹13.
IPOs Today LIVE: Amir Chand Jagdish Kumar (Exports) IPO subscription status
Amir Chand Jagdish Kumar (Exports) IPO subscription status reached 20% on Day 1 so far. The retail portion has been subscribed 8%, while the NII portion is nearly fully booked at 99%. The QIB category is yet to receive any bids.
As per BSE data (as of 11:18 IST), the company has received bids for 38,71,770 shares against a total of 1,89,05,270 shares on offer.
IPOs Today LIVE: Central Mine Planning IPO subscription status
Central Mine Planning IPO subscription status was 27% on day 3 so far. The retail portion is subscribed 19%, and the NII portion has been booked 10%, while the QIBs portion received 62% bids.
The company has received bids for 2,17,13,760 shares against 7,97,89,500 shares on offer, as of 10:45 IST, according to data on BSE.
IPOs Today LIVE: What do IPO subscription numbers reflect?
“Recent IPO subscription numbers reflect both market turbulence and structural issues in how companies are coming to market. When 60–70% of an issue is an offer for sale, there is simply no growth capital being deployed; it’s an exit for early investors, not a value-creation event for new ones. Retail participation has weakened considerably, and rightly so. In volatile conditions, weak hands step back, and the incentive to hunt for value diminishes.
What’s interesting is the quiet outperformance of low-subscription names like ICICI Prudential AMC — near-certain allotment, little fanfare, and a stock that has held its ground vs a host of other heavily oversubscribed, hyped names that have corrected sharply with no institutional support to cushion the fall. This is classic retail behaviour playing out in real time.
The market is telling us something important: good businesses don’t need aggressive marketing to get listed. If the IPO pipeline continues to be dominated by OFS-heavy issues at stretched valuations, subscription fatigue will only deepen. Quality will find its buyers; just not at any price,” said Mohit Gulati, CIO and managing partner of ITI Growth Opportunities Fund.
IPOs Today LIVE: Check out grey market premiums of the issues
Amir Chand Jagdish Kumar’s ₹440 crore issue is observing a modest grey market premium (GMP) of about ₹6, indicating limited potential listing gains of approximately 3%.
In contrast, Powerica’s ₹1,100 crore IPO has seen its GMP decline to nearly ₹0 from previously higher levels, reflecting poor investor sentiment. Likewise, Sai Parenteral’s ₹409 crore issue is trading with a flat GMP of ₹0, suggesting subdued expectations.
CMPDI’s IPO also shows lackluster grey market traction, signaling cautious investor participation amidst volatile market conditions and ongoing geopolitical uncertainties.