The Indian primary market is in a renewed stage as two mainboard initial public offerings (IPOs) are open for subscription today, August 17, 2026. Investors can bid for the Lalithaa Jewellery Mart IPO and Horizon Industrial Parks IPO, and both issues will be open until August 19.
The two public issues together aim to raise around ₹4,300 crore from investors. Both are book-built issues and have been drawing attention in the grey market, with positive GMPs being reported ahead of the opening day.
Investors should note, however, that GMP is an unofficial indicator of the market and does not guarantee the actual listing price or listing gains.
Lalithaa Jewellery Mart IPO details GMP and issue details
The Lalithaa Jewellery Mart IPO is a ₹1,700-crore book-built issue. The IPO had a grey market premium of ₹26 on the night of August 16, according to GMP data cited in the report.
With the upper end of the IPO price band fixed at ₹201 per share, a GMP of ₹26 indicates an estimated grey market price of around ₹227 per share.
Based on these numbers, the implied listing gain is around 12.94% if GMP were to translate into the trading price. However, GMP can fluctuate so quickly depending on the market environment, investor sentiment, and demand before listing.
Lalithaa Jewellery Mart price band and lot size
The price band for Lalithaa Jewellery Mart IPO has been fixed at ₹190 to ₹201 per share.
Retail investors are required to apply for a minimum of 74 shares. At the upper price band price of ₹201, the minimum application amount would be approximately ₹14,874.
The issue consists of a fresh issue and an offer for sale (OFS). The fresh issue comprises 5.97 crore shares worth ₹1,200 crore and the OFS consists of 2.49 crore shares worth ₹500 crore.
Anand Rathi Advisors is the book-running lead manager for the issue, while MUFG Intime India is the registrar.
Horizon Industrial Parks IPO: GMP and issue details
Horizon Industrial Parks is one of two IPOs opening today, with Horizon Industrial Parks raising ₹2,600 crore.
The entire issue is a fresh issue, meaning the company will raise funds through the issuance of new shares.
According to GMP data quoted in the report, Horizon Industrial Parks had a grey market premium of ₹4 on the evening of August 16.
At the upper end of the price band is ₹60. Adding GMP of ₹4 gives an indicative grey market price of around ₹64.
That is, the implied listing gain is around 6.67%.
Again, this is only an indicative calculation. GMP is not an official price discovery mechanism and can rise, fall or disappear before the shares actually list.
Horizon Industrial Parks price band and lot size
Horizon Industrial Parks IPO has a price band of ₹57 to ₹60 per share.
For retail investors, the minimum lot size is 250 shares. At the upper price-band price of ₹60, an investor would need approximately ₹15,000 to apply for one minimum lot.
JM Financial is the book-running lead manager and KFin Technologies is the registrar for the issue.
IPO schedule: Important dates
As for both IPOs, they follow the same basic timetable.
IPO event Date
Bidding opens August 17, 2026
Bidding closes August 19, 2026
Share allotment August 20, 2026
Refund initiation August 21, 2026
Shares credited to demat accounts August 21, 2026
Stock market listing August 24, 2026
Investors would need to see the final stock exchange and company announcements for any changes to the schedule.
Which IPO will suit you?
The decision between the two IPOs should not be based solely on GMP. While the grey-market premium can tell a lot about market sentiment, it’s unofficial and does not guarantee listing gains.
Investors should look at companies' performance, valuation, business model, use of IPO proceeds, industry outlook, risks and after-listing prospects before investing in them.
The Lalithaa Jewellery Mart IPO has a significantly higher reported GMP in absolute terms and a higher implied listing gain based on the cited figures. Horizon Industrial Parks IPO has a lower reported GMP but requires a minimum investment of ₹15,000 at the upper price band.
The final decision should be based on the investor's risk appetite, investment intention, and assessment of the business rather than the grey-market fluctuations and the outcome.
Since both issues are launched on the same day, investors can get an opportunity to invest in the Indian stock market as IPOs are on the rise.
Important: GMP figures are unofficial and can be volatile. The estimated listing prices and gains mentioned above are based on the GMP and upper price band and should not be treated as guaranteed returns.
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