Wiscon Industries Shares List Flat at ₹204 on BSE SME, Trade at ₹202 After Debut

Wiscon Industries Ltd. shares made their stock market debut on Tuesday, November 3, 2026, listing at ₹204 per share on the Bombay Stock Exchange (BSE) SME platform, matching the IPO issue price of ₹204 per share. The listing represented neither a premium nor a discount to the issue price.

The stock opened at the upper end of its IPO price band of ₹194 to ₹204. Investors who received shares through the IPO allotment saw no immediate gain or loss at the opening price, before applicable transaction charges and taxes. Following the listing, Wiscon Industries shares traded at ₹202 as of 10:11 AM IST, representing a decline of ₹2 per share, or 0.98%, from the issue price.

The listing followed the company's ₹110 crore initial public offering, which opened for subscription on October 27, 2026, and closed on October 29, 2026. The public issue received an overall subscription of 1.17 times, according to IPOWatch's final subscription figures. The Qualified Institutional Buyers (QIBs) category recorded the highest subscription at 2.24 times. The IPO price band was fixed at ₹194 to ₹204 per share.

Wiscon Industries Ltd. operates in India's consumer electronics trading and distribution industry. The company supplies products such as LED televisions, air coolers, washing machines and air conditioners under its Wiscon brand. It also trades electric scooters sourced from third-party brands and serves customers through business-to-business and business-to-consumer distribution channels.

Wiscon Industries IPO Listing Details

Wiscon Industries IPO was a ₹110 crore book-built issue comprising a fresh issue of approximately 43.14 lakh equity shares aggregating to ₹88.01 crore and an offer for sale of approximately 10.78 lakh equity shares aggregating to ₹22 crore.

The proceeds from the fresh issue will be received by Wiscon Industries, while the proceeds from the offer for sale will accrue to the selling shareholders after applicable expenses. The fresh issue proceeds are intended to support business expansion, working capital requirements and other corporate activities.

The IPO price band was fixed at ₹194 to ₹204 per equity share, with a minimum bidding lot of 600 shares. Individual Investors were required to apply for a minimum of two lots comprising 1,200 shares, resulting in a minimum investment of ₹2,44,800 at the upper issue price.

The IPO opened for subscription on October 27, 2026, and closed on October 29, 2026. The basis of allotment was scheduled for October 30, followed by the initiation of refunds and credit of shares to successful applicants' demat accounts on November 2, 2026.

The total issue comprised approximately 53.92 lakh equity shares, including 3.90 lakh shares reserved for the market maker. The public offering also included an anchor investor allocation ahead of the subscription period.

Wiscon Industries raised ₹25.01 crore from anchor investors ahead of the public issue. The anchor investor bidding took place on October 26, 2026, before the IPO opened for public subscription.

The company proposed to utilise ₹15.04 crore from the fresh issue proceeds towards investment in its wholly owned subsidiary, Dalmia Technologies Limited, for purchasing plant and machinery. Another ₹35 crore was allocated towards the subsidiary's incremental working capital requirements.

Additionally, ₹17 crore was earmarked for Wiscon Industries' working capital requirements, while ₹5.23 crore was allocated towards marketing and promotional activities. The remaining proceeds were intended for general corporate purposes and applicable issue expenses.

The QIB category recorded the highest subscription among the main investor categories at 2.24 times, followed by Individual Investors at 0.66 times. The NII category was subscribed 0.62 times.

• Issue Price: ₹204 per share

• BSE SME Listing Price: ₹204 per share

• Listing Premium/Discount: Nil

• Trading Price: ₹202 per share

• Overall Subscription: 1.17 times

• Issue Size: ₹110 crore

• Fresh Issue: ₹88.01 crore

• Offer for Sale: ₹22 crore

• Price Band: ₹194 to ₹204 per share

• Lot Size: 600 shares

• IPO Open Date: October 27, 2026

• IPO Close Date: October 29, 2026

• Listing Date: November 3, 2026

• Exchange: BSE SME

First-Day Trading Performance

Wiscon Industries share price began trading at its IPO issue price on November 3, 2026, with the stock recording a flat listing on the BSE SME platform.

Listing Price: On BSE SME, the stock opened at ₹204 per share, compared with the IPO issue price of ₹204, resulting in no premium or discount at the opening price.

The opening price was equal to the upper end of the IPO price band of ₹204. Following its stock market debut, Wiscon Industries shares moved below the listing price and traded at ₹202 as of 10:11 AM IST.

Listing Return: Individual Investors applying for the minimum two-lot quantity of 1,200 shares at the issue price of ₹204 invested ₹2,44,800. At the BSE SME listing price of ₹204, the value of the same quantity remained ₹2,44,800, representing no gain or loss before applicable charges and taxes.

At the reported trading price of ₹202, the corresponding value of 1,200 shares stood at ₹2,42,400, translating into a decline of ₹2,400 compared with the original investment amount.

The decline represented a negative return of 0.98% from the IPO issue price at the reported intraday snapshot.

Opening Performance: Following the debut, Wiscon Industries shares moved from their listing price of ₹204 to ₹202 by 10:11 AM IST. The decline amounted to ₹2 per share, or 0.98%, from the opening price.

The reported trading price of ₹202 remained ₹8 above the lower end of the IPO price band of ₹194, while standing ₹2 below the upper end of ₹204.

As of 10:11 AM IST, the stock traded at ₹202, compared with its listing price and issue price of ₹204. The initial trading movement therefore placed the shares below the price paid by successful IPO applicants.

The flat listing followed an IPO that received 1.17 times overall subscription. Institutional investors recorded the highest subscription among the main investor categories, with the QIB portion subscribed 2.24 times, while the NII and Individual Investors categories remained below full subscription.

Wiscon Industries IPO Subscription Status

The Wiscon Industries IPO received an overall subscription of 1.17 times by the close of bidding on October 29, 2026.

Qualified Institutional Buyers recorded the highest subscription among the main investor categories at 2.24 times, followed by Individual Investors at 0.66 times. The Non-Institutional Investors category was subscribed 0.62 times.

The QIB category received bids exceeding twice the shares available for institutional investors. In comparison, the Individual Investors and NII categories received bids for fewer shares than their respective allocations.

The Individual Investors category recorded a final subscription of 0.66 times, reflecting bidding for 66% of the shares reserved for the category.

Non-Institutional Investors subscribed 0.62 times their allocated portion, representing bidding for 62% of the shares available in that category.

The final overall subscription of 1.17 times reflected the combined demand across the applicable investor categories during the three-day bidding period.

Institutional subscription increased from 2.00 times on Day 2 to 2.24 times on Day 3. Individual Investors' subscription rose from 0.42 times to 0.66 times, while the NII category reached 0.62 times at the close of bidding.

About Wiscon Industries Ltd.

Wiscon Industries Limited is an Indian consumer electronics trading and distribution company incorporated in September 2022. The Delhi-based company operates in the consumer electrical and electronics products industry, supplying a range of household appliances and related products.

The company offers LED televisions, air coolers, washing machines and air conditioners under its flagship Wiscon brand. It also trades electric scooters sourced from third-party brands, extending its presence into electric mobility-related products.

Wiscon Industries operates through both business-to-business and business-to-consumer distribution channels. Its B2B operations involve supplying products to dealers, distributors and other commercial customers, while its B2C activities include direct sales to individual consumers through online channels.

The company's distribution model combines offline dealer networks with an online platform used to reach customers across different Indian markets.

Its wholly owned subsidiary, Dalmia Technologies Limited, is engaged in manufacturing LED televisions and trading other electronic products. The subsidiary forms part of the company's broader operations in consumer electronics manufacturing and distribution.

Wiscon Industries intends to invest part of the IPO proceeds in Dalmia Technologies to purchase plant and machinery. The planned investment is aimed at supporting the subsidiary's manufacturing operations.

The company also plans to allocate funds towards incremental working capital requirements at both the parent company and subsidiary levels. These funds are intended to support inventory procurement, operational requirements and business activity.

Its product portfolio covers several categories of household consumer electronics, allowing the company to participate in markets for televisions, cooling appliances, laundry appliances and other electrical products.

Wiscon Industries reported revenue from operations of ₹73.39 crore in FY26, compared with ₹14.49 crore in FY25 and ₹3.56 crore in FY24.

The company's profit after tax increased to ₹5.29 crore in FY26 from ₹1.05 crore in FY25. In FY24, profit after tax stood at approximately ₹0.06 crore.

Total income stood at ₹73.62 crore in FY26, compared with ₹14.51 crore in FY25 and ₹3.57 crore in FY24.

The company's EBITDA increased to ₹7.62 crore in FY26 from ₹1.82 crore in FY25, reflecting the expansion in its reported business operations during the period.

As of September 30, 2026, Wiscon Industries had 76 permanent employees supporting its operations across sales, administration and other business functions.

The company's performance is influenced by consumer demand for electronics, distribution network expansion, product procurement costs, inventory management, working capital availability and competition in the consumer appliance market.

Wiscon Industries operates in India's consumer electronics distribution industry, where business activity is linked to household appliance demand, product availability, retail distribution and the development of online and offline sales channels.

The company's IPO comprised both a fresh issue and an offer for sale. The listing on BSE SME provides a public trading platform for Wiscon Industries' equity shares following the completion of its ₹110 crore initial public offering.