Three companies — SS Retail, Jindal Supreme (India), and Hero Motors — made their respective stock market debuts on Wednesday, September 23, 2026. All three initial public offerings (IPOs) were open for subscription between September 16 and September 18, cumulatively raising nearly ₹1,625 crore from investors.
Hero Motors Faces Weak Listing
Shares of Hero Motors experienced a soft stock market debut, listing at a discount of 2.38 percent at ₹82 on the National Stock Exchange (NSE) and a slight premium of 2.26 percent at ₹82.10 on the Bombay Stock Exchange (BSE), against an issue price of ₹84 per share. Ahead of its listing, the grey market premium (GMP) for Hero Motors was muted, signaling a potentially weak performance.
Hero Motors had raised a total of ₹1,000 crore through its IPO, selling shares in the price band of ₹79-84 apiece. The issue was subscribed over 6.66 times, attracting nearly 16.26 lakh applications. DAM Capital Advisors Ltd, ICICI Securities, and JM Financial Ltd served as the book-running lead managers for the IPO, with Kfin Technologies Ltd as the registrar.
SS Retail Makes Solid Debut
In contrast, SS Retail made a strong stock market debut. Its shares listed at a premium of 50.73 percent at ₹639.10 on the BSE and 47.17 percent at ₹624 on the NSE, against an issue price of ₹424 per share. The company's strong debut was anticipated, as it commanded a GMP of ₹155-160 per share prior to listing.
SS Retail raised ₹500 crore via its IPO, with shares sold in the ₹403-424 price range. The issue was significantly oversubscribed by more than 103.30 times, fetching nearly 40.98 lakh applications. Anand Rathi Advisors and Emkay Global Financial Services Ltd were the book-running lead managers, and Kfin Technologies Ltd was the registrar for the SS Retail IPO.
Jindal Supreme (India) Sees Positive Start
Jindal Supreme (India) also enjoyed a positive stock market debut. Shares listed at a premium of 31.08 percent at ₹121.90 on the BSE and 29.03 percent at ₹120 on the NSE, against an issue price range of ₹88-93 per share. A positive GMP of ₹25-30 per share had indicated a favorable start.
Jindal Supreme raised ₹125 crore through its primary offering, selling shares with a lot size of 161 equity shares. The issue saw robust bidding, being subscribed over 181.07 times and receiving more than 20.38 lakh applications. Sarthi Capital Advisors acted as the sole book-running lead manager, and Bigshare Services was the registrar for the issue.