Raksan Transformers IPO Day 3: GMP ₹28 (+₹8)
Welcome back to our daily Raksan Transformers IPO update! We’ve reached Day 3 of the subscription period, and it’s time to dive into the latest figures and sentiment. As of today, September 12th, 2026, the IPO for Raksan Transformers, aiming to list on the BSE SME platform, is officially halfway through its subscription window. Investors are closely watching every move, and we’ve got the breakdown for you.
| Date | GMP | Est. Listing |
|---|---|---|
| 16 Sep | +₹50 | ₹323 |
| 15 Sep | +₹55 | ₹328 |
| 14 Sep | +₹55 | ₹328 |
| 12 Sep | +₹30 | ₹303 |
| 11 Sep | +₹28 | ₹301 |
Subscription Status
Let’s get straight to the numbers. As of the end of Day 3, the subscription figures are showing 0x across all categories: Retail, NII (Non-Institutional Investors), and QIB (Qualified Institutional Buyers). The total subscription also stands at 0x. Now, this might seem alarming at first glance, but it’s not entirely unexpected for SME IPOs, especially in the initial days. Often, the bulk of the subscription activity happens towards the latter half of the IPO period, particularly on the final day. Retail investors, in particular, tend to wait until the last moment to gauge overall interest. For NIIs and QIBs, while a complete absence of subscription at this stage can sometimes be a concern, it’s also possible they are strategically waiting for more clarity or have already made their decisions and are yet to reflect them in the formal subscription data. The lot size for Raksan Transformers is 400 shares, with an issue price of ₹273 per share. The IPO period runs until September 15th, 2026.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 0.00x | |
| NII / HNI | 0.00x | |
| QIB | 70.51x | |
| Total | 70.51x |
GMP Update
Interestingly, the Grey Market Premium (GMP) for Raksan Transformers has seen a significant uptick. Yesterday, the GMP was around ₹20. Today, it has jumped to ₹28, an increase of ₹8. This is encouraging news for potential investors. A rising GMP typically indicates increased demand and positive market sentiment surrounding the IPO. Based on the current GMP and the issue price of ₹273, the expected listing price is around ₹301 (₹273 + ₹28). This suggests a potential listing gain of approximately 10.26%. The fact that the GMP has climbed by ₹8 in a single day, even with the subscription numbers showing zero, highlights that the market sentiment, at least in the unofficial grey market, is gaining traction.
Should You Apply?
This is the million-dollar question, isn’t it? On one hand, we have a complete lack of formal subscription data at the halfway mark, which might make some cautious. However, the strong positive movement in the GMP is a powerful counter-indicator. It suggests that behind the scenes, there’s a definite interest building. For SME IPOs, it’s not uncommon to see a slow start followed by a surge in applications. The increased GMP is a vote of confidence from the market participants who are trading in the grey market. Remember, the SEBI advisor always recommends thorough due diligence. If you’re considering an application, weigh the current subscription status against the bullish GMP. The potential listing gain of over 10% as indicated by the GMP is certainly attractive. That said, always remember that GMP is an unofficial indicator and not a guarantee of listing performance. It’s wise to research the company’s fundamentals thoroughly. You can view the full Raksan Transformers IPO details here: View Full Raksan Transformers IPO Details. We’ll be back tomorrow with the Day 4 update!