IPO Listing Gains in 2018
Final for 2018: every mainboard and SME IPO that listed in the year.
- IPOs listed
- 24
- — raised
- Median listing gain
- +1.35%
- average +5.26%
- Listed above issue
- 50.0%
- 12 above · 1 at · 11 below
- Trading below issue now
- 3
- 16.7% of 18 priced
- Median return since issue
- +135.85%
- 11 doubled · 2 halved
24 Mainboard IPOs listed on NSE and BSE in 2018. Across them, the average listing-day gain was +5.26% (median +1.35%), and 12 of the 24 IPOs with a listing price (50.0%) listed above their issue price.
3 of the 18 Mainboard IPOs with a current price (16.7%) traded below their issue price at the close of 4 Nov 2026, 3 of them after listing above it. The median return since issue is +135.85%; 11 have doubled or more and 2 have lost half or more.
Every Mainboard IPO listed in 2018
Showing 24 of 24 · latest listing 10 Oct 2018
| IPO | Listed | Issue price | Listing price | Listing gain | Current price | Since issue |
|---|---|---|---|---|---|---|
| Garden Reach Shipbuilders & Engineers | 10 Oct 2018 | ₹118.00 | ₹104.00 | −11.86% | ₹2,143.40 | +1,716.44% |
| AAVAS Financiers | 8 Oct 2018 | ₹821.00 | ₹758.00 | −7.67% | ₹1,125.30 | +37.06% |
| Ircon International | 28 Sep 2018 | ₹475.00 | ₹410.30 | −13.62% | ₹103.28 | +117.43% |
| CreditAccess Grameen | 23 Aug 2018 | ₹422.00 | ₹385.00 | −8.77% | ₹1,073.00 | +154.27% |
| HDFC Asset Management Company | 6 Aug 2018 | ₹1,100.00 | ₹1,739.00 | +58.09% | ₹2,505.00 | +355.45% |
| TCNS Clothing Co. | 30 Jul 2018 | ₹716.00 | ₹715.00 | −0.14% | — | — |
| Varroc Engineering | 6 Jul 2018 | ₹967.00 | ₹1,032.00 | +6.72% | ₹779.15 | −19.43% |
| Fine Organic Industries | 2 Jul 2018 | ₹783.00 | ₹815.00 | +4.09% | ₹5,135.00 | +555.81% |
| Rites | 2 Jul 2018 | ₹185.00 | ₹190.00 | +2.70% | ₹197.13 | +166.39% |
| Indostar Capital Finance | 21 May 2018 | ₹572.00 | ₹600.00 | +4.90% | ₹190.77 | −66.65% |
| Lemon Tree Hotels | 9 Apr 2018 | ₹56.00 | ₹61.60 | +10.00% | ₹115.57 | +106.37% |
| ICICI Securities | 4 Apr 2018 | ₹520.00 | ₹431.10 | −17.10% | — | — |
| Mishra Dhatu Nigam | 4 Apr 2018 | ₹90.00 | ₹87.00 | −3.33% | ₹388.90 | +332.11% |
| Karda Constructions | 2 Apr 2018 | ₹180.00 | ₹136.00 | −24.44% | — | — |
| Sandhar Technologies Limited | 2 Apr 2018 | ₹332.00 | ₹345.00 | +3.92% | ₹479.75 | +44.50% |
| Hindustan Aeronautics | 28 Mar 2018 | ₹1,215.00 | ₹1,169.00 | −3.79% | — | — |
| Bandhan Bank | 27 Mar 2018 | ₹375.00 | ₹485.00 | +29.33% | ₹157.86 | −57.90% |
| Bharat Dynamics | 23 Mar 2018 | ₹428.00 | ₹360.00 | −15.89% | — | — |
| H.G. Infra Engineering | 9 Mar 2018 | ₹270.00 | ₹270.00 | 0.00% | ₹381.55 | +41.31% |
| Aster DM Healthcare | 26 Feb 2018 | ₹190.00 | ₹182.10 | −4.16% | ₹719.55 | +278.71% |
| Galaxy Surfactants | 8 Feb 2018 | ₹1,480.00 | ₹1,520.00 | +2.70% | ₹2,267.10 | +53.18% |
| Amber Enterprises India | 30 Jan 2018 | ₹859.00 | ₹1,180.00 | +37.37% | ₹6,460.00 | +652.04% |
| Newgen Software Technologies | 29 Jan 2018 | ₹245.00 | ₹253.00 | +3.27% | ₹441.65 | +260.53% |
| Apollo Micro Systems | 22 Jan 2018 | ₹275.00 | ₹478.00 | +73.82% | — | — |
Listing price is the opening price on listing day. Current price is the latest close (4 Nov 2026); since issue is adjusted for any later split or bonus. Click a column to sort.
How 2018 Mainboard IPOs listed
Listing-day gain of the 24 issues with a listing price, in fixed bands.
- −20% or worse 1 4.2%
- −20% to −10% 4 16.7%
- −10% to 0% 6 25.0%
- At issue price 1 4.2%
- 0% to 10% 7 29.2%
- 10% to 25% 1 4.2%
- 25% to 50% 2 8.3%
- 50% to 90% 2 8.3%
- 90% or more 0 0.0%
Mainboard vs SME IPO listing gains
Mainboard: 24 listings, average +5.26%, median +1.35%, 50.0% above issue price. SME: 144 listings, average +4.23%, median +1.67%, 70.6% above issue price.
| Segment | Listed | Average gain | Median gain | Above / at / below issue | Above issue |
|---|---|---|---|---|---|
| Mainboard | 24 | +5.26% | +1.35% | 12 / 1 / 11 | 50.0% |
| SME | 144 | +4.23% | +1.67% | 101 / 12 / 30 | 70.6% |
| Mainboard | 24 | +5.26% | +1.35% | 12 / 1 / 11 | 50.0% |
Listing gains by month
By listing date. Averages cover issues with a recorded listing price.
| Month | Listed | Average gain | Median gain | Above issue |
|---|---|---|---|---|
| Jan 2018 | 3 | +38.15% | +37.37% | 3 of 3 |
| Feb 2018 | 2 | −0.73% | −0.73% | 1 of 2 |
| Mar 2018 | 4 | +2.41% | −1.90% | 1 of 4 |
| Apr 2018 | 5 | −6.19% | −3.33% | 2 of 5 |
| May 2018 | 1 | +4.90% | +4.90% | 1 of 1 |
| Jul 2018 | 4 | +3.34% | +3.40% | 3 of 4 |
| Aug 2018 | 2 | +24.66% | +24.66% | 1 of 2 |
| Sep 2018 | 1 | −13.62% | −13.62% | 0 of 1 |
| Oct 2018 | 2 | −9.77% | −9.77% | 0 of 2 |
Highest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Apollo Micro Systems Mainboard | 22 Jan 2018 | ₹275.00 | ₹478.00 | +73.82% |
| HDFC Asset Management Company Mainboard | 6 Aug 2018 | ₹1,100.00 | ₹1,739.00 | +58.09% |
| Amber Enterprises India Mainboard | 30 Jan 2018 | ₹859.00 | ₹1,180.00 | +37.37% |
| Bandhan Bank Mainboard | 27 Mar 2018 | ₹375.00 | ₹485.00 | +29.33% |
| Lemon Tree Hotels Mainboard | 9 Apr 2018 | ₹56.00 | ₹61.60 | +10.00% |
Lowest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Karda Constructions Mainboard | 2 Apr 2018 | ₹180.00 | ₹136.00 | −24.44% |
| ICICI Securities Mainboard | 4 Apr 2018 | ₹520.00 | ₹431.10 | −17.10% |
| Bharat Dynamics Mainboard | 23 Mar 2018 | ₹428.00 | ₹360.00 | −15.89% |
| Ircon International Mainboard | 28 Sep 2018 | ₹475.00 | ₹410.30 | −13.62% |
| Garden Reach Shipbuilders & Engineers Mainboard | 10 Oct 2018 | ₹118.00 | ₹104.00 | −11.86% |
Highest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Garden Reach Shipbuilders & Engineers Mainboard | 10 Oct 2018 | ₹118.00 | ₹2,143.40 | +1,716.44% |
| Amber Enterprises India Mainboard | 30 Jan 2018 | ₹859.00 | ₹6,460.00 | +652.04% |
| Fine Organic Industries Mainboard | 2 Jul 2018 | ₹783.00 | ₹5,135.00 | +555.81% |
| HDFC Asset Management Company Mainboard | 6 Aug 2018 | ₹1,100.00 | ₹2,505.00 | +355.45% |
| Mishra Dhatu Nigam Mainboard | 4 Apr 2018 | ₹90.00 | ₹388.90 | +332.11% |
Lowest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Indostar Capital Finance Mainboard | 21 May 2018 | ₹572.00 | ₹190.77 | −66.65% |
| Bandhan Bank Mainboard | 27 Mar 2018 | ₹375.00 | ₹157.86 | −57.90% |
| Varroc Engineering Mainboard | 6 Jul 2018 | ₹967.00 | ₹779.15 | −19.43% |
| AAVAS Financiers Mainboard | 8 Oct 2018 | ₹821.00 | ₹1,125.30 | +37.06% |
| H.G. Infra Engineering Mainboard | 9 Mar 2018 | ₹270.00 | ₹381.55 | +41.31% |
Mainboard IPO listing gains, year by year
Listing-day figures for every year covered. The current year runs to date.
Methodology
- Covers every IPO whose shares were listed on NSE or BSE between 1 Jan 2018 and 31 Dec 2018, mainboard and SME, one row per issue. An issue listed on both exchanges counts once.
- Listing-day gain is the listing price (the price at which the shares opened on their first trading day) over the final issue price. The current price is the latest close; the return since issue is adjusted for any split or bonus after listing.
- Averages, medians and the share above issue price cover issues with a recorded listing price; an issue without one is counted in the listings total but not in the averages.
- Mainboard and SME are the two exchange segments; together they make up the total. An issue withdrawn before listing (no shares allotted or traded) is not counted, even if a listing date had been announced.
- Issue size is the total offer in ₹ crore as disclosed. Subscription is the overall times subscribed at the close of bidding; it is recorded for issues from 2026.
- Trading below issue counts issues whose latest close, adjusted for any later split or bonus, is under the issue price. An issue with no close in the last 30 days (suspended, or migrated) has no current price and is left out of those counts.
Frequently asked questions
How did IPOs perform on listing day in 2018?
24 Mainboard IPOs listed on NSE and BSE in 2018. Across them, the average listing-day gain was +5.26% (median +1.35%), and 12 of the 24 IPOs with a listing price (50.0%) listed above their issue price.
How many 2018 IPOs are trading below their issue price?
3 of the 18 Mainboard IPOs with a current price (16.7%) traded below their issue price at the close of 4 Nov 2026, 3 of them after listing above it. The median return since issue is +135.85%; 11 have doubled or more and 2 have lost half or more.
How is the listing-day gain calculated?
Listing-day gain is the listing price (the price at which the shares opened on their first trading day) over the final issue price. The current price is the latest close; the return since issue is adjusted for any split or bonus after listing.
What does the IPO listing-gains report cover?
Listing-day performance of Indian IPOs by year: average and median listing gain, how many listed above issue, mainboard against SME, and every issue's prices.
Is this investment advice?
Past listing-day performance says nothing about how a future IPO will list or trade. This is historical data, not investment advice and not a recommendation to apply for, buy or sell any security. Tapetide is not a SEBI-registered research analyst or investment adviser.
By Sanjay Mehta, Research lead How we research these reports