The Finance Network
The Finance Network

Methodology and corrections

Every price on this site is a number somebody has to decide whether to trust. This page says where each one comes from, how old it is likely to be, what it cannot tell you, and what we got wrong.

Where the prices come from

Unlisted companies

An indicative quote from dealers in the private market, recorded by hand and dated to the month we recorded it. There is no exchange and no official price. Two dealers quoting the same company on the same day routinely differ by several percent, and what you are shown is the ask — what a buyer would be quoted, not what a seller would receive.

Companies that have listed

The exchange close, pulled automatically every weekday evening after the market settles. These are real transaction prices and are labelled Market Price, never Unlisted Price. We keep tracking them because the record either side of a listing is the most useful thing we hold.

Valuations and ratios

Derived, never typed. Market capitalisation is the share price times the share count; P/E and P/B divide that price by reported earnings and book value per share. Change the price and every one of them recomputes. Dollar figures use a fixed rate of ₹88 to the dollar so that a moving exchange rate never looks like a moving valuation.

News

11 publishers by RSS, refreshed every 5 minutes. Headlines link to the original publisher. We do not rewrite them.

How current any of it is

Unlisted quotes
Recorded when dealers requote, which is weeks rather than minutes. Latest month on record: September 2026.
Listed prices
Every weekday evening, automatically, after the exchange settles.
News
Every 5 minutes.
Financials
When a company files. Annual report figures stay put until the next one.

Every price carries the month it was recorded. Where a figure is too old to be useful, we would rather show the date than hide it.

What a price here does not tell you

  • That you can trade at it. These are quotes, not executions. Unlisted shares can take months to sell and sometimes cannot be sold at all.
  • What you would receive on exit. The spread between what a dealer buys at and sells at is real money and it is not in this number.
  • Anything about the future. We publish what happened. Where the data is too thin to support a figure, the tools say so instead of producing one — the return calculator refuses to annualise a window shorter than two years for exactly this reason.
  • A recommendation. We are not a registered investment adviser, we do not broker these shares, and we earn nothing from what you decide.

What we cover

Pre-IPO companies

49

Tracked through listing

2

Latest price month

September 2026

Corrections

Every published figure that changed for a reason other than the market moving. A price going up is not a correction; a price that was mislabelled, stale or miscalculated is. 6 on record, the most recent on 26 September 2026.

NSE stayed in the pre-IPO universe for three days after it listed

material
Was wrong
The National Stock Exchange listed on the BSE on 24 September at an issue price of ₹1,785. For three days afterwards this site still showed it as a pre-IPO company at a grey-market quote of ₹1,920, carried it in the tracked pre-IPO count, and valued it off that stale price.
Now says
Listed on 24 September 2026, trading at the exchange close, with the price history crossing from grey market to exchange price in September. Its valuation is derived from the traded price.
Cause
The automation built to catch exactly this could not identify the new symbol. It looked the company up in a market-data search index that had no entry for a three-day-old listing, and its safety check required the quote to carry a matching company name, which the data provider had not populated yet. Both guards behaved as written and both failed on the case they existed for.
Prevention
Identification no longer depends on a name or a search index. A symbol can be named outright, and where no name is published the quote is verified on exchange, currency, instrument type and first-trade date instead — a newly listed instrument has all four even when it has no name.

Seen on: Homepage · Pre-IPO companies · Company page · Pre-IPO return calculator

SBI Mutual Fund was still being shown as a pre-IPO company

material
Was wrong
SBI Mutual Fund listed on 21 July 2026, but stayed in the pre-IPO universe and appeared on the homepage with its exchange price labelled "Unlisted Price". It was also counted in the number of pre-IPO companies we track.
Now says
Listed companies are excluded from the pre-IPO universe and from the tracked count. Their price is labelled "Market Price". They remain reachable through the Listed filter, because the price history either side of a listing is worth keeping.
Cause
The homepage featured three companies by hardcoded id, and the price label was typed into the card rather than derived. Nothing re-checked either when a company listed.
Prevention
Featured companies are now filtered from the pre-IPO universe, and the price label comes from the company record. A company that lists drops off the homepage on its own.

Seen on: Homepage · Pre-IPO companies · Company page

Share prices were formatted four different ways

presentation
Was wrong
The same column mixed ₹1,920, ₹1920, 10,400 and ₹23.40 — some with the rupee symbol, some without, some with thousands separators, some without.
Now says
Every price renders through one formatter: rupee symbol always, Indian digit grouping always, and decimals only where the number actually has them.
Cause
Prices were stored as hand-typed strings and rendered straight to the page, so each entry carried whatever shape it was typed in.
Prevention
Display no longer depends on how the string was typed. The stored value only has to be parseable.

Seen on: Pre-IPO companies · Company page · Dashboard · Search

Nineteen September prices on the charts disagreed with the company pages

material
Was wrong
For 19 of 37 companies the price on the history chart and in the return calculator differed from the price on the company page. Zepto read ₹32 on the chart and ₹31 on its page; HDFC Securities read ₹8,350 against ₹7,850.
Now says
All 41 September points match their own company record. Audited in both directions.
Cause
Prices live in one file and price history in another. The scheduled job that refreshes prices never folded the change into the history, so every run widened the gap.
Prevention
The price automation now runs the history sync in the same job and commits both files together.

Seen on: Company page · Pre-IPO return calculator

Three companies had no valuation, no chart and no return

material
Was wrong
PXIL, Hindustan Power Exchange and Bira 91 showed a price but no market capitalisation, no price history and were absent from the return calculator.
Now says
All three parse correctly. They carry a price history from September 2026 onward and enter the return calculator once a second month is recorded.
Cause
Their prices were stored as bare numbers without a rupee symbol, and the parser required one. It returned null for all three, which silently removed them from every derived figure.
Prevention
The symbol is now optional in the parser, and the history sync opens a series for any priced company that lacks one.

Seen on: Company page · Pre-IPO return calculator

The NSE IPO record was months out of date

material
Was wrong
Our IPO tracker recorded NSE as "Pipeline" with an estimated ₹10,000 crore issue and an unfiled DRHP, while our own published analysis had the RHP filed with a price band.
Now says
₹22,562 crore, entirely an offer for sale, price band ₹1,700–1,785, lot of 8, listing on the BSE. Taken from the filed RHP.
Cause
The tracker entry was maintained by hand and separately from the article, so publishing the analysis did not update it.

Seen on: IPO tracker data

Found something wrong?

Tell us and we will check it, fix it if it is wrong, and add it to the list above whether or not it flatters us. Get in touch →