5 IPOs to Watch in the Next Quarter: GMP, Valuation, and Risk Factors

Simran

Reliance Jio (Expected Q2 2026): Strong GMP, massive valuation, but regulatory & market-risk loom large.

Tata Capital (Expected Q4 2025): Moderate GMP, ₹17,200 cr issue, sensitive to interest rates & NBFC rules.

Lenskart Solutions (Expected Q1 2026): Slightly positive GMP, ₹2,150 cr raise; competition & marketing risk.

Pharmeasy (Expected Q1 2026): Neutral-to-positive GMP; ₹6,250 cr valuation, but regulatory & margin pressures.

SBI Mutual Fund (Expected early 2026): Moderate GMP; ₹8,000 cr IPO, exposed to market AUM risk & competition.

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