Genxai Analytics IPO 2026: Subscription and GMP on Day 3

Final day of bidding: what investors are watching

Genxai Analytics’ SME initial public offering (IPO) entered its third and final day on June 9, 2026, with bidding scheduled to close by 5 pm. The issue opened for subscription on June 5 and is slated to list on the NSE SME platform on June 12. The IPO is valued at about ₹55 crore and is entirely a fresh issue, with no offer-for-sale component mentioned in the provided data. Investor attention on the last day has centred on two moving parts: the subscription build-up (which varied by time and data source) and the grey market premium (GMP), which has cooled from earlier peaks.

Issue size, structure, and what the company plans to fund

The Genxai Analytics IPO is described as a ₹55 crore offering, with issue size also cited as ₹54.84 crore in the same set of notes. It comprises 0.47 crore shares as a fresh issue. The price band has been fixed at ₹110 to ₹116 per share. The stated use of proceeds in the notes includes working capital and development expenses.

Price band and lot size: figures published by different trackers

The documentation provided contains more than one lot-size reference. One section states that investors can apply in lots of 800 shares and that a retail investor must apply for at least two lots. Separately, other lines show a lot size of 1,200 shares and a minimum application amount of ₹139,200 at the issue price of ₹116 (1,200 × 116). Another payout example states a minimum retail outlay of ₹2,78,400 at the upper end of the band, which corresponds to 2,400 shares at ₹116.

Because the examples align with 1,200 shares per lot and a minimum of two lots (2,400 shares), readers should rely on the official offer document and exchange circulars for the final lot and minimum bid requirements.

Reservation split across investor categories

The issue allocation in the notes indicates that 50% of the offer is earmarked for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. This split matters because the subscription momentum can look very different across categories, especially on the final day when institutional bidding often comes in later.

Subscription status: reported numbers ranged widely during Day 3

Subscription readings in the provided data vary by timestamp and source, which is common when multiple trackers publish intra-day updates.

One update said that by 2:45 pm on Day 3, the IPO was subscribed 7.89 times, with bids for 2.52 crore shares against 31.95 lakh shares on offer. Under that snapshot, NII demand was the strongest at 21.15 times, followed by retail at 6.69 times, while the QIB portion was at 1.45 times.

Another update stated that at 2:03 pm on June 9, the IPO was subscribed 6.46 times, with QIB at 1.1x, NII at 17.97x and individual investors at 5.22x. Earlier in the day, a report at 12:40 pm pegged overall subscription at 4.06 times, with QIB (ex-anchor) at 0.50x, NII/HNI at 10.81x, and retail at 3.57x. A separate tracker format showed a Day 3 reading of 3.01x (as of 11:02 am), with QIB at 0.50x, NII at 7.80x, and individual investors at 2.63x.

These differences do not necessarily contradict each other, because they reflect different cut-off times and potentially different aggregation conventions.

Grey market premium (GMP): modest on Day 3 after earlier peaks

GMP readings also varied across updates. One line put the GMP at ₹6 on June 9 and linked it to an implied listing price of ₹122, translating to a 5.17% premium over the upper issue price of ₹116. Another set of entries showed the GMP at ₹3 as of 9:32 AM IST on June 9, implying an estimated listing price of ₹119 (₹116 + ₹3), and an estimated gain of ₹7,200 for 2,400 shares.

Other notes described Day 3 GMP as roughly ₹5 to ₹7 per share and mentioned that the highest GMP observed for the issue had been ₹15, while the lowest had been ₹0. One earlier data point said the GMP was ₹11 as of June 2, after touching ₹15 on May 31.

Key facts table: dates, size, and reservation

Subscription snapshots table: Day 3 updates across timestamps

Market impact: what the numbers signal so far

The data points show one consistent pattern: NII participation was the strongest across most snapshots, while QIB subscription was lower earlier in the day and improved in at least one later update. Retail demand also built through Day 3 in the snapshots provided. On the sentiment side, the GMP readings imply a relatively narrow premium to the upper issue price, with estimates ranging from ₹119 to ₹122 depending on whether GMP is taken as ₹3 or ₹6 on June 9.

Because this is an SME IPO, market participants also watch liquidity and post-listing volatility closely, but the provided information only supports the subscription and GMP observations, not any forecast on post-listing performance.

Why the Day 3 trend matters for an SME IPO

Final-day subscription often sets the headline tone going into allotment and listing, especially for SME issues where participation can be concentrated in specific categories. In Genxai Analytics’ case, multiple intra-day snapshots show acceleration from Day 1 levels, where one note cited 0.04x subscription at 11 AM on June 5 and another day-wise table showed Day 1 totals around 0.60x. The stronger Day 3 figures, combined with a positive but modest GMP, indicate interest without an aggressive grey-market premium at the time of reporting.

What happens next: allotment and listing dates

As per the schedule provided, allotment is expected to be finalised on June 10. The shares are slated to list on June 12 on the NSE SME platform. Investors tracking the outcome typically monitor the final subscription numbers published by the exchange after bidding closes and the basis of allotment once finalised.