Wiscon Industries IPO: Price Band, Dates, GMP & Review
Wiscon Industries IPO opened for subscription today, 27 October 2026. The Delhi-based consumer electronics supplier is raising up to ₹110 crore through a BSE SME issue priced at ₹194–204 per share. The offer closes on 29 October 2026, with listing expected on 3 November 2026.
The company sells LED TVs, air conditioners, washing machines, air coolers and refrigerators under its own “Wiscon” brand, and also trades third-party electric scooters. Ahead of the opening, Wiscon raised ₹25 crore from anchor investors on 26 October 2026. Grey market trackers, however, show no premium for the issue so far — the unofficial GMP is ₹0, implying a flat listing expectation at the upper band.
Wiscon Industries IPO Details
| Detail | Information |
|---|---|
| IPO type | Book-built SME issue, BSE SME |
| Price band | ₹194–204 per share (face value ₹10) |
| Issue size | Up to ₹110 crore (53,92,200 shares) |
| Fresh issue | 43,14,000 shares (up to ₹88.01 crore) |
| Offer for sale | 10,78,200 shares by promoter Sidhant Dalmia (up to ₹22 crore) |
| Lot size | 600 shares |
| Minimum investment (retail) | 2 lots = 1,200 shares = ₹2,44,800 at the upper band |
| Market maker reservation | 3,90,000 shares (Shreni Shares) |
| Lead manager | Smart Horizon Capital Advisors |
| Registrar | Maashitla Securities |
Wiscon Industries IPO Dates
| Event | Date |
|---|---|
| Anchor bidding | 26 October 2026 |
| IPO opens | 27 October 2026 |
| IPO closes | 29 October 2026 |
| Allotment finalisation | 30 October 2026 (expected) |
| Refunds / demat credit | 2 November 2026 |
| Listing | 3 November 2026 (tentative, BSE SME) |
Anchor Book: ₹25 Crore Raised Before Opening
Wiscon finalised allotment of 12,25,800 shares to five anchor investors at the upper band, raising ₹25 crore. The anchor investors reported include LRSD Capital, PSEB Alpha Fund and Mastergrowth 369 Alternate Investment Trust. Anchor participation does not guarantee listing performance, but it does show institutional willingness to commit at ₹204 before public bidding began.
What Does Wiscon Industries Do?
Wiscon Industries was incorporated in September 2022 and is based in New Delhi. Its business is mainly business-to-business — trackers report that about 99% of FY26 earnings came from the B2B segment, selling through dealers and distributors and an online platform.
- Own brand: LED TVs, air conditioners, washing machines, air coolers and refrigerators under “Wiscon”.
- Third-party products: electric scooters sold under another brand.
- Manufacturing push: in May 2025 it acquired 100% of Dalmia Technologies, bringing LED television manufacturing capability into the group.
- Recognition: ISO 9001:2015 certified, and named an Emerging Consumer Electronics Brand by ET Industry Leaders North 2026.
The concentration risk is clear: LED TVs and electric scooters account for the overwhelming majority of revenue, and sales are concentrated in Delhi, Uttar Pradesh and Haryana. The offer document also flags dependence on top suppliers without long-term contracts and on its top 10 customers.
Where Will the IPO Money Go?
- ₹15.04 crore — plant and machinery for subsidiary Dalmia Technologies (SMT lines for PCB production)
- ₹35 crore — incremental working capital for Dalmia Technologies
- ₹17 crore — working capital for Wiscon Industries itself
- ₹5.23 crore — marketing and promotional activities
- Balance — general corporate purposes and issue expenses
In other words, most of the fresh issue is aimed at backward integration and working capital rather than debt repayment — the company is funding growth and manufacturing capacity, not deleveraging.
Wiscon Industries Financials
Consolidated figures reported by IPO trackers show explosive growth, but from a very small base — the company was only incorporated in 2022:
| Particular | FY24 | FY25 | FY26 | Q1 FY27 |
|---|---|---|---|---|
| Revenue / total income (₹ crore) | 3.21 | 14.49 | 196.87 | 69.85 |
| Net profit (₹ crore) | -1.36 | 1.25 | 20.41 | 7.89 |
| Net margin | -42.37% | 8.63% | 10.37% | 11.30% |
Note on figures: some trackers report a lower standalone revenue from operations for FY26 (about ₹73.39 crore, with standalone PAT of about ₹5.57 crore). The higher consolidated figures above include the Dalmia Technologies subsidiary. Investors should read the restated financials in the prospectus rather than relying on any single tracker summary.
On tracker arithmetic, the post-issue market capitalisation of about ₹407.75 crore works out to roughly 20 times FY26 consolidated profit at the upper band — a premium multiple for a four-year-old company, even after allowing for the strong Q1 FY27 run-rate.
Wiscon Industries IPO GMP Today
As of the morning of 27 October 2026, grey market trackers quote GMP of ₹0 for Wiscon Industries — no premium over the ₹204 upper band, implying an estimated listing price of ₹204. GMP is unofficial, unregulated and can change quickly during the subscription window; it is not a reliable predictor of the listing price, especially for SME issues with limited grey market activity.
For comparison, other issues open this week carry premiums: BLS Polymers is quoted around ₹40 over its ₹150 upper band, and SFC Environmental around ₹22 over ₹330. Wiscon's flat GMP stands out against both.
Strengths and Risks
Strengths
- Very fast revenue and profit growth in FY26 and Q1 FY27, with improving margins.
- Anchor book of ₹25 crore subscribed before opening.
- Backward integration via Dalmia Technologies, funded directly by the IPO.
- Diversified product range within consumer electronics, plus an EV-adjacent scooter line.
Risks
- Extremely short operating history (incorporated 2022) and growth from a tiny FY24 base.
- Heavy geographic concentration in Delhi, Uttar Pradesh and Haryana, and 100% domestic revenue.
- Dependence on top suppliers (no long-term contracts) and top 10 customers.
- Product concentration in LED TVs and electric scooters.
- Flat grey market premium (₹0) — no unofficial demand signal so far.
- SME issues can be volatile and illiquid after listing; the minimum retail ticket is ₹2,44,800.
Should You Apply? Our Review
Wiscon Industries is a high-growth, high-risk SME bet. The FY26 and Q1 FY27 numbers are impressive, and the anchor book shows some institutional comfort at ₹204. But the growth comes off a very small base, the business is concentrated by product and geography, and the grey market is offering no premium at all. At roughly 20 times consolidated FY26 earnings, the issue is not cheap for a company of this age and scale.
Investors who understand SME risk and can tolerate volatility may consider a small application; conservative investors may prefer to watch the subscription numbers over 27–29 October and the listing on 3 November before deciding. This article is for information only and is not investment advice.
Also read: Upcoming IPOs This Week (26 Oct–2 Nov): Dates, GMP & Sizes and IPO GMP Today (27 Oct): BLS Opens at 27%, Jio Lists Tomorrow.
FAQs
When does the Wiscon Industries IPO open and close?
It opens on 27 October 2026 and closes on 29 October 2026.
What is the Wiscon Industries IPO price band?
₹194–204 per share, with a face value of ₹10.
What is the lot size and minimum investment?
One lot is 600 shares. Retail investors must apply for at least 2 lots (1,200 shares), costing ₹2,44,800 at the upper band.
What is the Wiscon Industries IPO GMP today?
₹0 as of 27 October 2026 morning, according to grey market trackers — unofficial and subject to change.
When will Wiscon Industries list?
Listing is tentatively scheduled for 3 November 2026 on BSE SME, after allotment on 30 October 2026.
Who are the lead manager and registrar?
Smart Horizon Capital Advisors is the lead manager and Maashitla Securities is the registrar.
Conclusion
Wiscon Industries IPO offers exposure to a fast-growing, young consumer electronics supplier at a premium valuation, with a ₹110 crore BSE SME issue open from 27–29 October 2026. The ₹25 crore anchor book is a positive, but the flat GMP, short history and concentration risks mean this one suits only risk-tolerant SME investors. Watch Day 2 and Day 3 subscription numbers before the 29 October close.