IPO Listing 9 Oct: Acme India Closes 18% Up, TNA & Paramount Hit Lower Circuit
Friday, 9 October 2026 was a tale of two very different debuts on BSE SME. Acme India Industries raced to the 5% upper circuit and closed ₹232.05 — up 18.39% over its ₹196 issue price — while TNA Solutions and Paramount Syntex both crashed to the 5% lower circuit on a dismal first day of trading. Here's the full closing-day scorecard.
Acme India Industries: Upper Circuit on Debut
Acme India Industries, the railway coach interiors company, made the strongest debut of the day. The stock listed at ₹221 (+12.76%) and quickly rose to ₹232.05 — the 5% upper circuit limit on the listing price — where it stayed locked till close, finishing +18.39% above the ₹196 issue price.
| Detail | Value |
|---|---|
| Issue price | ₹196 (band ₹186–196) |
| Listing price | ₹221 (+12.76%) |
| Closing price | ₹232.05 (+18.39%, upper circuit) |
| Subscription | 115.51x (NII 145.11x, QIB 137.93x, Retail 85.50x) |
| Issue size | ₹121.69 cr (₹105.98 cr fresh + ₹15.71 cr OFS) |
| Market cap at listing | ~₹518.74 cr |
| Registrar | Bigshare Services |
Note: subscription multiples vary slightly across trackers — Moneycontrol reported 115.51x overall. The stock had commanded a grey market premium of around 22% on listing morning per InvestorGain (market-reported, unofficial), so the listing came in below GMP expectations.
TNA Solutions: 20% Discount, Then Lower Circuit
TNA Solutions (issue price ₹70) listed at ₹56 — a 20% discount — and promptly fell to the 5% lower circuit at ₹53.20, nearly 24% below its IPO price. This despite a strong ~55x subscription. The flat-to-weak grey market signal had already hinted at a tepid debut.
| Detail | Value |
|---|---|
| Issue price | ₹70 (band ₹66–70) |
| Listing price | ₹56 (−20%) |
| Closing price | ₹53.20 (−24% vs issue, lower circuit) |
| Subscription | ~55x |
| Issue size | ₹37.86 cr |
| Market cap | ~₹108.57 cr |
Paramount Syntex: Discount Debut, Locked at Circuit
Paramount Syntex (issue price ₹127) listed at ₹115 (−9.45%) and slid to the 5% lower circuit at ₹109.25, down 13.98% from the issue price. The issue had closed at only ~1.83x subscription, and the grey market quoted no premium — both warning signs that played out on debut.
| Detail | Value |
|---|---|
| Issue price | ₹127 (band ₹119–127) |
| Listing price | ₹115 (−9.45%) |
| Closing price | ₹109.25 (−13.98%, lower circuit) |
| Subscription | ~1.83x |
| Issue size | ₹81.79 cr |
| Market cap | ~₹211.59 cr |
Listing-Day Scorecard: 9 October 2026
| IPO | Issue Price | Listing | Close | Day 1 Gain/Loss | Circuit |
|---|---|---|---|---|---|
| Acme India Industries | ₹196 | ₹221 | ₹232.05 | +18.39% | 5% upper |
| TNA Solutions | ₹70 | ₹56 | ₹53.20 | −24.00% | 5% lower |
| Paramount Syntex | ₹127 | ₹115 | ₹109.25 | −13.98% | 5% lower |
GMP vs Reality
- Acme India: GMP implied ~+34% (₹67) on listing morning per some trackers / ~22% per InvestorGain — actual close +18.4%. GMP overshot, but still a solid gain.
- TNA Solutions: GMP signalled a flat listing — reality was far worse at −24%.
- Paramount Syntex: No grey market premium — and a −14% debut confirmed the caution.
GMP is unofficial and volatile; it does not guarantee listing performance.
Canara Robeco IPO: Day 1 Ends at ~0.21x
On the mainboard, the ₹1,326.13 crore Canara Robeco AMC IPO closed Day 1 subscribed ~0.21x (21%): Retail 0.36x, NII 0.23x, QIB 0 (ex-anchor) at end of day. LiveMint's BSE data at 17:00 IST put the figure at 23%. The grey market premium cooled to ₹21 (market-reported, unofficial) from ₹35 earlier in the week. The issue closes 13 October and lists 16 October. See our Canara Robeco IPO deep-dive and midday update for full details.
What to Watch Next Week
- R.K. Fashion Accessories lists on BSE SME on 12 October (closed ~1.76x).
- HD Fire Protect IPO (₹258–271, ~₹711 cr, 100% OFS) opens 13–15 October; GMP ~₹75 (unofficial).
- Vaibhav Vyapaar SME IPO (₹51–54, ₹42.1 cr) opens 13 October.
- Ravita Engineering Services SME IPO (₹105–112, NSE Emerge) opens 13 October.
- Canara Robeco closes 13 October, lists 16 October.
- Fusion CX IPO (₹275–289, ₹702 cr, fresh ₹500 cr + OFS ₹202 cr) opens 14 October; anchors 13 October; expected listing 22 October.
- Jio Platforms IPO (media-reported): opens 21–23 October — India's largest IPO at ~₹37,700 cr.
Also see our morning GMP roundup for 9 October for today's premium snapshot.
FAQs
How did Acme India Industries close on its listing day?
Acme India Industries listed at ₹221 (+12.76% over its ₹196 issue price) on BSE SME on 9 October 2026, hit the 5% upper circuit at ₹232.05 and closed there — up 18.39% on debut.
Why did TNA Solutions fall on listing day?
TNA Solutions listed at ₹56, a 20% discount to its ₹70 issue price, and fell to the 5% lower circuit at ₹53.20 (down ~24%). Weak debut sentiment outweighed its ~55x subscription; the grey market had already signalled a flat listing.
What was Paramount Syntex's closing price on debut?
Paramount Syntex closed at ₹109.25 on 9 October 2026 — the 5% lower circuit — down 13.98% from its ₹127 issue price after listing at ₹115.
What was Canara Robeco's Day 1 subscription?
Canara Robeco AMC's ₹1,326.13 cr IPO was subscribed ~0.21x on Day 1 (Retail 0.36x, NII 0.23x, QIB yet to bid). It closes 13 October and lists 16 October.
Which IPOs open next week?
HD Fire Protect, Vaibhav Vyapaar and Ravita Engineering Services open on 13 October, Fusion CX opens on 14 October, and Jio Platforms is expected on 21–23 October.
Conclusion
9 October proved that subscription numbers alone don't decide a listing. Acme India — the most heavily subscribed of the three — rewarded allottees with an upper-circuit close at +18.4%. But TNA Solutions and Paramount Syntex show how quickly sentiment can flip: strong ~55x bidding couldn't save TNA from a 24% slide, and Paramount's weak ~1.83x book ended in a lower-circuit lock-in. With HD Fire Protect, Vaibhav Vyapaar and Fusion CX opening next week, watch the GMP trend — but treat it as a hint, not a promise.