DAILY UNLISTED MARKET PULSE
FRIDAY, 21 AUGUST 2026
Neoma Pulse
The Market’s Vital Sign · Insights & Trends · Curated by Neoma Capital
Scrips Tracked
301
Advancers
3 ▲ 25%
Decliners
9 ▼ 75%
Net Breadth
-6 ▼ -1.17%
Neoma Capital tracks 301 unlisted and pre-IPO scrips across the catalogue. On indicative off-market levels today, 3 names advanced and 9 declined, an average move of -1.17% across the 12 scrips that saw a fresh mark. NSE India Limited led the gainers at Rs 2,004.75 (+3.05%), while PharmEasy was the biggest drag at Rs 6.19 (-3.85%), a 6.9-point gap between the day's best and worst mover that underlines how stock-specific the unlisted tape remains. At the sector level, Financials was the strongest cohort (+0.48% average) and Utilities the weakest (-2.45%). On the momentum map, 57 tracked names sit within 10% of a 52-week high and 103 near a 52-week low, a quick read on where strength and stress are concentrated. These are indicative off-market prices for unlisted and pre-IPO shares, not exchange-traded quotes. Contact the Neoma Capital desk for live dealing levels.
NSE India Limited
Rs 2,004.75
▲ +3.05%
Financials
Incred Holdings Limit…
Rs 156.42
▲ +1.28%
Financials
Chennai Super Kings
Rs 250.85
▲ +0.41%
Consumer Services
PharmEasy
Rs 6.19
▼ -3.85%
Health Care
Zepto
Rs 32.67
▼ -2.94%
Apollo Green Energy L…
Rs 69.3
▼ -2.78%
Utilities
gainers
laggards
Funding rounds
primary demand
DRHP filings
IPO intent
IPO pipeline
exit visibility
Demand vs supply
off-market book
Indicative price
today
Financials led the tape
LED GAINSNSE India Limited was the standout at Rs 2,004.75, up +3.05% on indicative levels, followed by Incred Holdings Limited (+1.28%) and Chennai Super Kings (+0.41%). The Financials cohort carried the breadth with a +0.48% average move.
Utilities lagged
LAGGARDPharmEasy was the weakest mark at Rs 6.19, off -3.85%, with Zepto (-2.94%) also softer. Utilities was the softest sector at -2.45% on average. Off-market softness usually reflects thin demand or profit-taking rather than a change in fundamentals.
3 up, 9 down: the day in one number
Breadth is the fastest read on the off-market tone. Today 25% of the scrips that repriced advanced, for a net -6 and an average move of -1.17%. A broadening tape, more names participating rather than one or two, is usually what precedes firmer indicative levels across the book.
Breadth is computed only across scrips that saw a fresh indicative mark today.
A 6.9-point gap from best to worst
The spread between NSE India Limited (+3.05%) and PharmEasy (-3.85%) shows how idiosyncratic the unlisted market is. Unlisted prices react to funding rounds, results and IPO-timeline signals for a single name, not to a shared index move, so selection matters far more here than it does on the listed tape.
57 near highs, 103 near lows
Of the priced names we track, 57 sit within 10% of their 52-week high while 103 are near a 52-week low. That distribution is a simple momentum map: clusters near highs mark where demand and IPO optimism are concentrated, while names near lows are where patient buyers tend to hunt for value.
Earnings multiples run from 0x to 813x
Across the 269 tracked names with a reported profit, price-to-earnings ranges from about 0x to 813x, with a median near 23x. That wide band is a reminder to anchor on fundamentals: an indicative price only makes sense next to the earnings, growth and comparable it implies.
| Date | Event and why it matters |
|---|---|
Each session Breadth | Advancers vs decliners The up/down split is the quickest gauge of off-market tone. A broadening tape usually leads firmer indicative levels; a narrowing one flags fatigue. |
This week Primary market | DRHP filings and the IPO calendar Fresh draft filings and confirmed listing dates reset expectations for pre-IPO names long before they ever trade on an exchange. |
Ongoing Funding | Late-stage funding rounds A new round in a marquee unlisted name reprices its cap table and feeds straight through to indicative off-market levels. |
Quarterly Fundamentals | Results season Earnings from the large unlisted companies are the cleanest fundamental signal available between funding events, watch them for direction. |
The Neoma View
The unlisted market's tone today is best read through breadth: 3 advancing versus 9 declining names on indicative levels, an average move of -1.17%. Financials did the heavy lifting on the upside, and pre-IPO and marquee unlisted scrips remain the flow drivers, tracking primary-market sentiment and newsflow around DRHP filings and IPO timelines rather than any single index.
The insight for today
NSE India Limited's +3.05% move is the standout, a reminder that unlisted prices respond to funding rounds, results and IPO-timeline signals for that specific name rather than to daily index swings. The 6.9-point spread to the weakest mark today is the clearest evidence that this is a stock-picker's market.
For tomorrow: Watch the breadth split, marquee pre-IPO names, any fresh DRHP or IPO newsflow, and demand-supply in the most-traded scrips. Prices here are indicative, so confirm live levels with the desk before dealing.
Neoma Capital
UNLISTED SHARES · PRE-IPO
+91 79829 40307
info@neomacapital.com
www.neomacapital.com
This note is for information only and is not investment advice. Prices are indicative off-market levels for unlisted / pre-IPO shares, not exchange quotes, and can change. Verify all prices independently. Neoma Capital, Friday, 21 August 2026.