IPO GMP todayWatrana Rentals
Watrana Rentals IPO GMP Today
Watrana Rentals IPO GMP today is +₹7.5 as of 13 Nov 2026, 11:30 PM IST, over the ₹245 top of the price band, which puts the estimated listing price at ₹252.5 (+3.06%). The issue opens on 19 Nov 2026 and closes on 23 Nov 2026; listing is scheduled for 27 Nov 2026. GMP is an unofficial grey-market quote compiled from public trackers, not an NSE or BSE price.
- Price band
- ₹245
- Issue size
- ₹120.1 Cr
- Subscription
- —
Watrana Rentals IPO review
Watrana Rentals launches ₹120.1 Cr SME IPO with a flat GMP and 42.9% listing-loss rate in comparable zero-GMP issues.
Who is bidding
Not open yet
Bidding has not started
If allotted (history)
+₹0
median on ₹2,94,000; 80% of similar IPOs between −₹40,543 and +₹28,459
Allotment odds (retail)
—
Needs NSE's application count (NSE SME only)
Listing-loss risk
32%
of 101 similar IPOs listed below issue (95% CI 23–41%) · sentiment mixed
- 1Bidding has not opened yet for this ₹120.1 Cr issue, so subscription details and category leadership are not yet available.
- 2A minimum application of ₹294,000 saw median returns of ₹0 with 10th to 90th percentiles of -₹58,800 to ₹25,901 in comparable past IPOs.
- 342.9% of past zero or negative GMP SME IPOs listed below issue price (95% CI 37.1% to 49%), alongside a high 2.91 debt-to-equity ratio.
Overall sentiment reads mixed with 2 negative, 2 neutral, and 1 positive signal, dampened by flat grey market activity. The issue features a full ₹120.1 Cr fresh issue to fund equipment, but carries notable debt.
Sentiment
Mixed · 2 positive · 2 negative · 3 neutralGrey-market premium +3.1%
A moderate premium, between 3% and 15%.
Premium trend ₹0 → ₹7.5 (+3.1 pts of issue price)
The premium has risen by 3 points or more of the issue price.
Tracker agreement 2 trackers, 6.1 pts apart
Public trackers disagree by more than 5% of the issue price, so the premium is less reliable.
Tracker demand rating 2 of 5
A public GMP tracker's 1–5 rating of grey-market demand.
Stock market Nifty 4.5% below its 52-week high
Nifty is within 10% of its high (bull market by the usual Indian convention).
IPO market last 30 listings averaged +10.6%
Recent listings averaged between +10% and +30%.
News coverage (AI-read) neutral
Watrana Rentals refiled its draft red herring prospectus with NSE SME to launch an initial public offering [Chittorgarh].
Each reading follows a fixed rule (shown under it). The overall label counts them; it is not a recommendation.
Listing-loss risk
32% of 101 SME IPOs with GMP 0–5% listed below the issue price (95% CI 23–41%).
| Comparable IPOs | n | Below issue (95% CI) | Listing gain p10 · median · p90 |
|---|---|---|---|
| All SME IPOs since 2023 | 889 | 20% (17–23) | −13.98% · +8.89% · +90.00% |
| SME IPOs with GMP 0–5% | 101 | 32% (23–41) | −13.79% · 0.00% · +9.68% |
| SME IPOs listed in a bull market (as now) | 755 | 18% (16–21) | −10.24% · +11.54% · +90.00% |
| SME IPOs, last 6 months | 144 | 27% (20–35) | −19.83% · +1.96% · +76.24% |
Past IPOs listed since 2023, before this one. A wide interval means few comparable IPOs: treat it as low confidence. History, not a forecast. Method
Valuation and offer
- P/E (GMP tracker)
- 9.61
- Listed peers' P/E
- No listed peers found
- Market cap at upper band
- ₹400.34 Cr
- Fresh issue / offer for sale
- ₹120.1 Cr / ₹0 Cr
- Promoter holding (pre → post)
- 100% → 70%
- Anchor book
- Placed
- Lead manager
- Oneview Corporate Advisors Private Limited
- Subject to Sauda (retail)
- ₹6,800 per application
- Tracker demand rating
| Year | Revenue | Profit after tax |
|---|---|---|
| FY24 | ₹130.23 Cr | ₹18.05 Cr |
| FY23 | ₹86.19 Cr | ₹8.52 Cr |
| FY22 | ₹47.67 Cr | ₹3.94 Cr |
P/E was not found, and the company has no strictly comparable listed peers. Market cap stands at ₹400.34 Cr with an entirely fresh issue of ₹120.1 Cr and no offer for sale. Promoter holding decreases from 100% to 70%, with FY24 revenue growing to ₹130.23 Cr and PAT rising to ₹18.05 Cr.
Demand and sentiment
Sentiment is mixed with 1 positive, 2 negative, and 2 neutral readings. The grey market premium is flat at +0% with a tracker demand rating of 1 of 5, indicating subdued unofficial interest. As the book opens on 19 Nov, subscription multiples will evolve.
Listing-loss risk
Among past SME IPOs with zero or negative GMP, 42.9% listed below the issue price (95% CI 37.1% to 49% across 261 IPOs), compared to 19.8% across all 889 SME IPOs. Their median listing gain was 0% with 10th to 90th percentiles between -20% and 8.8%. Company-specific flags include a high debt-to-equity ratio of 2.91 as of March 31, 2024, and total borrowings of ₹105.11 crore.
Market backdrop
The broader market is in a bull phase with Nifty 3.9% below its 52-week high, while the IPO market is normal with recent listings averaging +10.6%. On this board and in this market, GMP called the direction right 77.6% of the time (95% CI 74.5% to 80.4% across 755 IPOs).
What to watch
Key cues to monitor are whether grey market premium picks up from +0% before closing on 23 Nov, the level of QIB participation, and management of total borrowings.
Risks named in the offer document or coverage
- High debt-to-equity ratio of 2.91 as of March 31, 2024
- Operates in a fragmented material handling equipment rental industry with no strictly comparable listed peers
News coverage (neutral)
- Watrana Rentals refiled its draft red herring prospectus with NSE SME to launch an initial public offering [Chittorgarh].
- The issue is entirely a fresh issue of equity shares aimed at funding the purchase of material handling equipment and batteries [HDFC Sky].
- Watrana Rentals operates in the material handling equipment rental and allied services segment across logistics and warehousing hubs [IPO Broadcast].
AI-written from the figures shown; every number in the text is checked against them before it is published. Offer-document figures were read by AI from search results (chittorgarh.com, mstock.com, ipoplatform.com, hdfcsky.com, chittorgarh.com); check the RHP before relying on one. Not investment advice and not a recommendation to apply.
This session
- GMP today
- +₹7.5
- Expected listing
- ₹253 · +3.06%
- Price band
- ₹245
- Issue size
- ₹120.1 Cr
- Lot
- 600 shares · min 2
- Minimum application
- 1,200 shares · ₹2,94,000
- Window
- 19 Nov 2026 – 23 Nov 2026
- Listing
- 27 Nov 2026
- Allotment
- 25 Nov 2026
- Board
- SME · NSE
Day-wise GMP
- First GMP
- ₹0
- 13 Nov · 2:30 PM
- Peak
- +₹7.5
- 13 Nov · 11:30 PM
- Low
- ₹0
- 13 Nov · 2:30 PM
- Latest
- +₹7.5
- 13 Nov · 11:30 PM
2 marks; +₹7.5 from the first mark to the latest. How accurate is GMP?
Latest read (13 Nov 2026, 11:30 PM IST): 2 public GMP trackers quoted ₹0 to +₹15; the median, +₹7.5, is shown.
What past IPOs with this GMP did
101 past SME IPOs with a last GMP in the 0–5% band listed at a median of 0.00%; the middle 80% landed between −13.79% and +9.68%, and 45% listed above the issue price. History, not a forecast. See the data.
| Date | GMP | On the band top | Marked |
|---|---|---|---|
| 13 Nov 2026 | +₹7.5 | +3.06% | Evening mark · 11:30 PM IST |
| 13 Nov 2026 | ₹0 | 0.00% | Morning mark · 2:30 PM IST |
GMP is read every 30 minutes from 7 AM to midnight IST (median of three public trackers); this table keeps one mark per morning and evening session, the last read of that session, so 2 marks so far. After listing day the rows stay as history.
The issue
Watrana Rentals Limited provides material handling equipment (MHE) and cargo handling rental and trading solutions across India. Its fleet includes battery-operated, diesel, and gas forklifts, electric stackers, reach trucks, pallet trucks, aerial work platforms, and specialized attachments. The company operates over 1,400 MHE units across more than 300 rental sites, catering to industries such as automotive, beverages, tyres, paper, and airports.
Watrana Rentals Limited is a SME issue on NSE. The price band is ₹245. One lot is 600 shares, and the smallest application is 2 lots (1,200 shares, ₹2,94,000 at the top of the band). The issue size is ₹120.1 crore.
The issue is an entirely fresh offering of shares with no offer for sale. The proceeds will be utilized for purchasing material handling equipment, aerial work platforms, and batteries, along with general corporate purposes.
For FY24, total revenue rose 51% to ₹130.23 crore from ₹86.19 crore in FY23, while profit after tax (PAT) jumped 112% to ₹18.05 crore from ₹8.52 crore. For the nine-month period ended December 31, 2024, revenue reached ₹129.49 crore with a PAT of ₹18.93 crore.
The unofficial grey-market premium on 13 Nov 2026 is +₹7.5, a listing-gain sketch of +3.06% over ₹245. Band-top plus that mark is ₹252.5. Another site can print a different rupee the same day. A +₹7.5 reading is sentiment for this session, and it can move before 27 Nov 2026.
Bidding has not opened, so this edition has no subscription multiple for Watrana Rentals. The official book will show up on NSE and BSE after the window starts. Until then the only demand figure on this page is the unofficial premium.
The company operates in a capital-intensive sector with high debt levels, carrying total borrowings of ₹105.11 crore as of December 31, 2024. It remains vulnerable to fluctuations in fleet utilization rates, high equipment maintenance requirements, and potential counterparty credit risks.
The timetable on the record is open 19 Nov 2026, close 23 Nov 2026, allotment 25 Nov 2026, listing 27 Nov 2026. The registrar is the one named in the red herring prospectus. This sheet does not guess. After listing, this page stays up. The grey-market mark becomes history, and the listing print replaces the expected-listing sketch. Do not apply because a premium looks large. Read the prospectus.
Company profile: AI analysis of the offer document and news coverage (13 Nov 2026). Sources: chittorgarh.com, mstock.com, ipoplatform.com, hdfcsky.com, chittorgarh.com. Check the offer document before relying on a figure.
Subscription
No overall multiple on this edition. The live book for this issue is Watrana Rentals IPO subscription status, and the market table is IPO score live.
Allotment
The registrar for Watrana Rentals is the one named in its prospectus. Company dates sit on Watrana Rentals IPO allotment status. Most issues use KFintech, MUFG Intime (formerly Link Intime) or Bigshare. The check is free. IPO Radar does not look up PANs and does not ask you to log in.
Questions people ask
What is Watrana Rentals IPO GMP today?
Watrana Rentals IPO GMP is +₹7.5 as of 13 Nov 2026, 11:30 PM IST, over the ₹245 top of the price band. It is the unofficial grey-market quote compiled from public trackers, not an NSE or BSE price.
What is Watrana Rentals IPO GMP percentage and expected listing price?
The GMP percentage is +3.06%: +₹7.5 divided by the ₹245 band top. Band top plus GMP gives an estimated listing price of ₹252.5. The arithmetic is exact; the listing price is not.
What is Watrana Rentals IPO subscription status?
Bidding has not started. Watrana Rentals IPO opens on 19 Nov 2026, and the NSE/BSE subscription figures appear here once the book is live.
When is Watrana Rentals IPO allotment and listing date?
Allotment is scheduled for 25 Nov 2026 and listing for 27 Nov 2026. The bidding window runs 19 Nov 2026 to 23 Nov 2026.
What is the minimum investment for Watrana Rentals IPO?
₹2,94,000 at the band top: 2 lots of 600 shares (1,200 shares) at ₹245. SME issues set a higher minimum than mainboard ones.
How to check Watrana Rentals IPO allotment status?
On the registrar's allotment page named in the Watrana Rentals prospectus (usually KFintech, MUFG Intime or Bigshare), with your PAN, after the basis of allotment is out. The check is free.
Is Watrana Rentals IPO GMP always right?
No. GMP is an unofficial dealer quote that SEBI does not recognise, and it can move or flip before listing day. Treat it as a sentiment reading and read the prospectus before applying.
GMP versus listing
Watrana Rentals has not listed on this edition. Listing day is 27 Nov 2026. There is no open, high or close to show. This page stays after listing; the GMP row becomes history, the expected-listing sketch is replaced by the exchange print, and those two percentages sit next to each other here.