---
title: "IPO Listing Gains in 2019"
canonical: "https://tapetide.com/insight/reports/ipo-listing-gains/2019"
last_updated: "2026-11-05"
generated_at: "2026-11-05T01:53:02.015Z"
---

# IPO Listing Gains in 2019

By [Sanjay Mehta](https://tapetide.com/about/authors/sanjay-mehta), Research lead. How we research these reports: https://tapetide.com/about/editorial-policy

Listing-day gains of every mainboard and SME IPO listed in India in 2019: issue and listing price, average and median gain, by month. Not investment advice.

Final for 2019: every IPO that listed in the year. Prices as of 5 Nov 2026.

65 IPOs listed on NSE and BSE in 2019: 17 mainboard and 48 SME. Across them, the average listing-day gain was +5.07% (median +1.39%), and 41 of the 65 IPOs with a listing price (63.1%) listed above their issue price.

9 of the 40 IPOs with a current price (22.5%) traded below their issue price at the close of 4 Nov 2026, 6 of them after listing above it. The median return since issue is +124.35%; 20 have doubled or more and 4 have lost half or more.

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.

Canonical page: https://tapetide.com/insight/reports/ipo-listing-gains/2019

- **IPOs listed:** 65
- **Mainboard:** 17
- **SME:** 48
- **Average listing gain %:** 5.07
- **Median listing gain %:** 1.39
- **Listed above issue price:** 41
- **Listed at issue price:** 11
- **Listed below issue price:** 13
- **Share above issue price %:** 63.1
- **Total issue size (₹ Cr):** 2317.86
- **With a current price:** 40
- **Trading below issue price:** 9
- **Share trading below issue price %:** 22.5
- **Listed above issue, now below:** 6
- **Median return since issue %:** 124.35
- **Doubled or more since issue:** 20
- **Lost half or more since issue:** 4
- **Current prices as of:** 2026-11-04
- **Opened at the SME +90% cap:** 0
- **Opened at the SME −20% floor:** 0
- **Year complete:** yes

Methodology:

- Covers every IPO whose shares were listed on NSE or BSE between 1 Jan 2019 and 31 Dec 2019, 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.

### Mainboard vs SME

Mainboard: 17 listings, average +14.58%, median +3.93%, 58.8% above issue price. SME: 48 listings, average +1.70%, median +1.22%, 64.6% above issue price.

| Segment | Listed | Average Gain % | Median Gain % | Above Issue | At Issue | Below Issue | Above Issue % | Total Issue Size (₹ Cr) |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Mainboard | 17 | 14.58 | 3.93 | 10 | 2 | 5 | 58.8 | 2293.6 |
| SME | 48 | 1.7 | 1.22 | 31 | 9 | 8 | 64.6 | 24.26 |
| All IPOs | 65 | 5.07 | 1.39 | 41 | 11 | 13 | 63.1 | 2317.86 |

### Listing-day gain distribution

| Listing Gain | IPOs | Share % | Opened At SME Price Limit |
| --- | --- | --- | --- |
| −20% or worse | 0 | 0 | 0 |
| −20% to −10% | 3 | 4.6 | 0 |
| −10% to 0% | 10 | 15.4 | 0 |
| At issue price | 11 | 16.9 | 0 |
| 0% to 10% | 31 | 47.7 | 0 |
| 10% to 25% | 7 | 10.8 | 0 |
| 25% to 50% | 1 | 1.5 | 0 |
| 50% to 90% | 1 | 1.5 | 0 |
| 90% or more | 1 | 1.5 | 0 |

### By issue size

| Issue Size | IPOs | Median Listing Gain % | Average Listing Gain % | Listed Above Issue % | Trading Below Issue | With Current Price | Median Return Since Issue % |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Under ₹50 Cr | 4 | 1.52 | 3.84 | 100 | 1 | 4 | 817 |
| ₹250 Cr to ₹1,000 Cr | 4 | 48.9 | 47.23 | 75 | 0 | 3 | 55.38 |
| Not disclosed | 57 | 1.25 | 2.19 | 59.6 | 8 | 33 | 160 |

### By month

| Month | Listed | Average Gain % | Median Gain % | Above Issue |
| --- | --- | --- | --- | --- |
| Jan 2019 | 2 | 1.34 | 1.34 | 2 |
| Feb 2019 | 8 | 1.75 | 1.97 | 5 |
| Mar 2019 | 5 | -3.53 | -0.15 | 0 |
| Apr 2019 | 10 | 3.38 | 1.32 | 7 |
| May 2019 | 7 | 6.85 | 3.73 | 7 |
| Jun 2019 | 2 | -4.89 | -4.89 | 0 |
| Jul 2019 | 8 | 2.35 | 0 | 3 |
| Aug 2019 | 4 | 3.83 | 0.38 | 2 |
| Sep 2019 | 4 | 0.18 | 0 | 1 |
| Oct 2019 | 8 | 16 | 3.02 | 8 |
| Nov 2019 | 2 | 2.92 | 2.92 | 2 |
| Dec 2019 | 5 | 17.92 | 1.11 | 4 |

### Highest listing-day gains

| IPO | Segment | Listed | Issue Price (₹) | Listing Price (₹) | Listing Gain % | SME Price Limit | Subscription (x) | Issue Size (₹ Cr) | Current Price (₹) | Return Since Issue % |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [IRCTC](https://tapetide.com/ipo/gmp/irctc-ipo/1) | Mainboard | 2019-10-14 | 320 | 644 | 101.25 | — | — | 637.97 | — | — |
| [Ujjivan Bank](https://tapetide.com/ipo/gmp/ujjivan-bank-ipo/5) | Mainboard | 2019-12-12 | 37 | 58 | 56.76 | — | — | 745.95 | 56.7 | 53.24 |
| [CSB Bank](https://tapetide.com/ipo/gmp/csb-bank-ipo/2) | Mainboard | 2019-12-04 | 195 | 275 | 41.03 | — | — | 409.68 | 303 | 55.38 |
| Affle India | Mainboard | 2019-08-08 | 745 | 929.9 | 24.82 | — | — | — | — | — |
| [Indiamart Intermesh](https://tapetide.com/ipo/company/indiamart-intermesh-ltd) | Mainboard | 2019-07-04 | 973 | 1180 | 21.27 | — | — | — | 1591.3 | 227.09 |

### Lowest listing-day gains

| IPO | Segment | Listed | Issue Price (₹) | Listing Price (₹) | Listing Gain % | SME Price Limit | Subscription (x) | Issue Size (₹ Cr) | Current Price (₹) | Return Since Issue % |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [Xelpmoc Design and Tech](https://tapetide.com/ipo/company/xelpmoc-design-and-tech-ltd) | Mainboard | 2019-02-04 | 66 | 56 | -15.15 | — | — | — | 80.77 | 22.38 |
| [Sterling & Wilson Renewable Energy](https://tapetide.com/ipo/company/sterling-wilson-solar-ltd) | Mainboard | 2019-08-20 | 780 | 700 | -10.26 | — | — | — | 150.25 | -80.74 |
| [Prince Pipes](https://tapetide.com/ipo/gmp/prince-pipes-ipo/9) | Mainboard | 2019-12-30 | 178 | 160 | -10.11 | — | — | 500 | 297.75 | 67.28 |
| Gleam Fabmat | SME | 2019-03-05 | 10 | 9 | -10 | — | — | — | 18.87 | 88.7 |
| Suich Industries | SME | 2019-06-13 | 75 | 68.5 | -8.67 | — | — | — | — | — |

### Highest return since issue

| IPO | Segment | Listed | Issue Price (₹) | Listing Price (₹) | Listing Gain % | SME Price Limit | Subscription (x) | Issue Size (₹ Cr) | Current Price (₹) | Return Since Issue % |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Parshva Enterprises | SME | 2019-07-01 | 45 | 45.85 | 1.89 | — | — | — | 249.05 | 1588.01 |
| [DC Infotech SME](https://tapetide.com/ipo/gmp/dc-infotech-ipo/8) | SME | 2019-12-27 | 45 | 45.5 | 1.11 | — | — | 10.8 | 332.25 | 1376.67 |
| [Polycab India](https://tapetide.com/ipo/company/polycab-india-ltd) | Mainboard | 2019-04-16 | 538 | 633 | 17.66 | — | — | — | 7930 | 1373.98 |
| [Shiv Aum Steels](https://tapetide.com/ipo/company/shiv-aum-steels-ltd) | SME | 2019-10-01 | 44 | 44.25 | 0.57 | — | — | — | 540.05 | 1127.39 |
| [Neogen Chemicals](https://tapetide.com/ipo/company/neogen-chemicals-ltd) | Mainboard | 2019-05-08 | 215 | 251 | 16.74 | — | — | — | 2273.6 | 957.49 |

### Lowest return since issue

| IPO | Segment | Listed | Issue Price (₹) | Listing Price (₹) | Listing Gain % | SME Price Limit | Subscription (x) | Issue Size (₹ Cr) | Current Price (₹) | Return Since Issue % |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [Sterling & Wilson Renewable Energy](https://tapetide.com/ipo/company/sterling-wilson-solar-ltd) | Mainboard | 2019-08-20 | 780 | 700 | -10.26 | — | — | — | 150.25 | -80.74 |
| [Spandana Sphoorty Financial](https://tapetide.com/ipo/company/spandana-sphoorty-financial-ltd) | Mainboard | 2019-08-19 | 856 | 824 | -3.74 | — | — | — | 182.49 | -78.68 |
| Goblin India | SME | 2019-10-15 | 52 | 55 | 5.77 | — | — | — | 11.43 | -78.02 |
| [Gensol Engineering](https://tapetide.com/ipo/company/gensol-engineering-ltd) | SME | 2019-10-15 | 83 | 85.4 | 2.89 | — | — | — | 9.45 | -55.33 |
| Mahip Industries | SME | 2019-03-12 | 32 | 32 | 0 | — | — | — | 16.02 | -49.94 |

### Year by year

| Year | IPOs | Mainboard | SME | Median Gain % | Average Gain % | Above Issue % | Total Issue Size (₹ Cr) | Complete |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [IPO Listing Gains in 2026](https://tapetide.com/insight/reports/ipo-listing-gains/2026) | 303 | 116 | 187 | 2.96 | 12.61 | 59.8 | 182448.27 | to date |
| [IPO Listing Gains in 2025](https://tapetide.com/insight/reports/ipo-listing-gains/2025) | 377 | 108 | 269 | 3.52 | 10.56 | 62.9 | 195505.69 | yes |
| [IPO Listing Gains in 2024](https://tapetide.com/insight/reports/ipo-listing-gains/2024) | 341 | 93 | 248 | 30.91 | 49.05 | 85 | 189798.74 | yes |
| [IPO Listing Gains in 2023](https://tapetide.com/insight/reports/ipo-listing-gains/2023) | 240 | 61 | 179 | 14.46 | 32.46 | 79.6 | 57781.67 | yes |
| [IPO Listing Gains in 2022](https://tapetide.com/insight/reports/ipo-listing-gains/2022) | 148 | 39 | 109 | 7.22 | 23.95 | 75.7 | 65240.37 | yes |
| [IPO Listing Gains in 2021](https://tapetide.com/insight/reports/ipo-listing-gains/2021) | 122 | 66 | 56 | 4.73 | 23.31 | 73 | 131355.17 | yes |
| [IPO Listing Gains in 2020](https://tapetide.com/insight/reports/ipo-listing-gains/2020) | 47 | 16 | 31 | 1.4 | 13.73 | 63.8 | 46012.2 | yes |
| [IPO Listing Gains in 2019](https://tapetide.com/insight/reports/ipo-listing-gains/2019) | 65 | 17 | 48 | 1.39 | 5.07 | 63.1 | 2317.86 | yes |
| [IPO Listing Gains in 2018](https://tapetide.com/insight/reports/ipo-listing-gains/2018) | 168 | 24 | 144 | 1.67 | 4.38 | 67.7 | — | yes |

### Every IPO listed in 2019

| IPO | Segment | Listed | Issue Price (₹) | Listing Price (₹) | Listing Gain % | SME Price Limit | Subscription (x) | Issue Size (₹ Cr) | Current Price (₹) | Return Since Issue % |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [Prince Pipes](https://tapetide.com/ipo/gmp/prince-pipes-ipo/9) | Mainboard | 2019-12-30 | 178 | 160 | -10.11 | — | — | 500 | 297.75 | 67.28 |
| [DC Infotech SME](https://tapetide.com/ipo/gmp/dc-infotech-ipo/8) | SME | 2019-12-27 | 45 | 45.5 | 1.11 | — | — | 10.8 | 332.25 | 1376.67 |
| [Ujjivan Bank](https://tapetide.com/ipo/gmp/ujjivan-bank-ipo/5) | Mainboard | 2019-12-12 | 37 | 58 | 56.76 | — | — | 745.95 | 56.7 | 53.24 |
| [Ascom Leasing & Investments SME](https://tapetide.com/ipo/gmp/ascom-leasing-ipo/6) | SME | 2019-12-06 | 30 | 30.25 | 0.83 | — | — | 6.32 | 169.2 | 746 |
| [CSB Bank](https://tapetide.com/ipo/gmp/csb-bank-ipo/2) | Mainboard | 2019-12-04 | 195 | 275 | 41.03 | — | — | 409.68 | 303 | 55.38 |
| Mangalam Global Enterprise | SME | 2019-11-27 | 51 | 53 | 3.92 | — | — | — | — | — |
| [Anuroop Packaging SME](https://tapetide.com/ipo/gmp/anuroop-ipo/2101) | SME | 2019-11-21 | 13 | 13.25 | 1.92 | — | — | 2.64 | 8.88 | -31.69 |
| [Gensol Engineering](https://tapetide.com/ipo/company/gensol-engineering-ltd) | SME | 2019-10-15 | 83 | 85.4 | 2.89 | — | — | — | 9.45 | -55.33 |
| Goblin India | SME | 2019-10-15 | 52 | 55 | 5.77 | — | — | — | 11.43 | -78.02 |
| [Sona Hi Sona Jewellers SME](https://tapetide.com/ipo/gmp/sona-hi-sona-ipo/2113) | SME | 2019-10-15 | 10 | 11.15 | 11.5 | — | — | 4.5 | 98.8 | 888 |
| Vishwaraj Sugar Industries | Mainboard | 2019-10-15 | 60 | 61.2 | 2 | — | — | — | — | — |
| [IRCTC](https://tapetide.com/ipo/gmp/irctc-ipo/1) | Mainboard | 2019-10-14 | 320 | 644 | 101.25 | — | — | 637.97 | — | — |
| Galactico Corporate Services | SME | 2019-10-09 | 23 | 23.2 | 0.87 | — | — | — | — | — |
| Misquita Engineering | SME | 2019-10-04 | 27 | 27.85 | 3.15 | — | — | — | 76 | 181.48 |
| [Shiv Aum Steels](https://tapetide.com/ipo/company/shiv-aum-steels-ltd) | SME | 2019-10-01 | 44 | 44.25 | 0.57 | — | — | — | 540.05 | 1127.39 |
| Novateor Research Laboratories | SME | 2019-09-13 | 24 | 24 | 0 | — | — | — | 43 | 79.17 |
| Salasar Exteriors & Contour | SME | 2019-09-12 | 36 | 36 | 0 | — | — | — | — | — |
| Alphalogic Techsys | SME | 2019-09-05 | 84 | 83 | -1.19 | — | — | — | — | — |
| Transpact Enterprises | SME | 2019-09-05 | 130 | 132.5 | 1.92 | — | — | — | 100.7 | -22.54 |
| [Sterling & Wilson Renewable Energy](https://tapetide.com/ipo/company/sterling-wilson-solar-ltd) | Mainboard | 2019-08-20 | 780 | 700 | -10.26 | — | — | — | 150.25 | -80.74 |
| [Spandana Sphoorty Financial](https://tapetide.com/ipo/company/spandana-sphoorty-financial-ltd) | Mainboard | 2019-08-19 | 856 | 824 | -3.74 | — | — | — | 182.49 | -78.68 |
| Affle India | Mainboard | 2019-08-08 | 745 | 929.9 | 24.82 | — | — | — | — | — |
| [Wonder Fibromats](https://tapetide.com/ipo/company/wonder-electricals-ltd) | SME | 2019-08-06 | 89 | 93 | 4.49 | — | — | — | — | — |
| S K International Export | SME | 2019-07-15 | 20 | 19.2 | -4 | — | — | — | — | — |
| [A B Infrabuild](https://tapetide.com/ipo/company/ab-infrabuild-ltd) | SME | 2019-07-12 | 29 | 29 | 0 | — | — | — | — | — |
| City Pulse Multiventures | SME | 2019-07-11 | 30 | 28.5 | -5 | — | — | — | 119.15 | 297.17 |
| Earum Pharmaceuticals | SME | 2019-07-04 | 36 | 36 | 0 | — | — | — | — | — |
| [Indiamart Intermesh](https://tapetide.com/ipo/company/indiamart-intermesh-ltd) | Mainboard | 2019-07-04 | 973 | 1180 | 21.27 | — | — | — | 1591.3 | 227.09 |
| SBC Exports | SME | 2019-07-04 | 22 | 22 | 0 | — | — | — | — | — |
| Anand Rayons | SME | 2019-07-02 | 27 | 28.25 | 4.63 | — | — | — | 34.19 | 26.63 |
| Parshva Enterprises | SME | 2019-07-01 | 45 | 45.85 | 1.89 | — | — | — | 249.05 | 1588.01 |
| Meera Industries | SME | 2019-06-26 | 225 | 222.5 | -1.11 | — | — | — | — | — |
| Suich Industries | SME | 2019-06-13 | 75 | 68.5 | -8.67 | — | — | — | — | — |
| Cian Healthcare | SME | 2019-05-23 | 61 | 62 | 1.64 | — | — | — | — | — |
| [Par Drugs & Chemicals](https://tapetide.com/ipo/company/par-drugs-chemical-ltd) | SME | 2019-05-16 | 51 | 52.9 | 3.73 | — | — | — | 107.9 | 323.14 |
| Artemis Electricals | SME | 2019-05-14 | 60 | 70 | 16.67 | — | — | — | — | — |
| Evans Electric | SME | 2019-05-13 | 52 | 52.2 | 0.38 | — | — | — | 70.4 | 441.54 |
| White Organic Retail | SME | 2019-05-10 | 63 | 64.2 | 1.9 | — | — | — | — | — |
| G K P Printing & Packaging | SME | 2019-05-08 | 32 | 34.2 | 6.88 | — | — | — | 6.43 | -39.72 |
| [Neogen Chemicals](https://tapetide.com/ipo/company/neogen-chemicals-ltd) | Mainboard | 2019-05-08 | 215 | 251 | 16.74 | — | — | — | 2273.6 | 957.49 |
| V R Films & Studios | SME | 2019-04-30 | 61 | 62 | 1.64 | — | — | — | 11.06 | 45.05 |
| Jinaam"s Dress" | SME | 2019-04-25 | 59 | 59 | 0 | — | — | — | — | — |
| [Polycab India](https://tapetide.com/ipo/company/polycab-india-ltd) | Mainboard | 2019-04-16 | 538 | 633 | 17.66 | — | — | — | 7930 | 1373.98 |
| [Metropolis Healthcare](https://tapetide.com/ipo/company/metropolis-healthcare-ltd) | Mainboard | 2019-04-15 | 880 | 960 | 9.09 | — | — | — | 581.25 | 164.2 |
| [KHFM Hospitality & Facility Mgt. Services](https://tapetide.com/ipo/company/khfm-hospitality-ltd) | SME | 2019-04-12 | 36 | 36.5 | 1.39 | — | — | — | 51.3 | 47.25 |
| [Rail Vikas Nigam](https://tapetide.com/ipo/company/rail-vikas-nigam-ltd) | Mainboard | 2019-04-11 | 19 | 19 | 0 | — | — | — | 191.23 | 906.47 |
| [Osia Hyper Retail](https://tapetide.com/ipo/company/osia-hyper-retail-ltd) | SME | 2019-04-05 | 252 | 255 | 1.19 | — | — | — | — | — |
| Northern Spirits | SME | 2019-04-04 | 43 | 43.7 | 1.63 | — | — | — | 111.8 | 160 |
| [Embassy Office Parks REIT](https://tapetide.com/ipo/company/embassy-office-parks-reit-ltd) | Mainboard | 2019-04-01 | 300 | 300 | 0 | — | — | — | — | — |
| Roopshri Resorts | SME | 2019-04-01 | 20 | 20.25 | 1.25 | — | — | — | 75 | 275 |
| [MSTC](https://tapetide.com/ipo/company/mstc-ltd) | Mainboard | 2019-03-29 | 120 | 111 | -7.5 | — | — | — | 583.9 | 386.58 |
| Humming Bird Education | SME | 2019-03-28 | 132 | 132 | 0 | — | — | — | — | — |
| Aartech Solonics | SME | 2019-03-27 | 34 | 33.95 | -0.15 | — | — | — | — | — |
| Mahip Industries | SME | 2019-03-12 | 32 | 32 | 0 | — | — | — | 16.02 | -49.94 |
| Gleam Fabmat | SME | 2019-03-05 | 10 | 9 | -10 | — | — | — | 18.87 | 88.7 |
| Kranti Industries | SME | 2019-02-28 | 37 | 35.25 | -4.73 | — | — | — | 46.94 | 52.24 |
| [Mindpool Technologies](https://tapetide.com/ipo/company/mindpool-technologies-ltd) | SME | 2019-02-28 | 30 | 30 | 0 | — | — | — | — | — |
| Jonjua Overseas | SME | 2019-02-25 | 10 | 12 | 20 | — | — | — | 2.95 | -41.69 |
| [Anmol India](https://tapetide.com/ipo/company/anmol-india-ltd) | SME | 2019-02-21 | 33 | 33.6 | 1.82 | — | — | — | 10.58 | 60.3 |
| [Chalet Hotels](https://tapetide.com/ipo/company/chalet-hotels-ltd) | Mainboard | 2019-02-07 | 280 | 291 | 3.93 | — | — | — | 816.9 | 191.75 |
| [Ritco Logistics](https://tapetide.com/ipo/company/ritco-logistics-ltd) | SME | 2019-02-07 | 73 | 77.4 | 6.03 | — | — | — | 270.3 | 270.27 |
| [Surani Steel Tubes](https://tapetide.com/ipo/company/surani-steel-tubes-ltd) | SME | 2019-02-06 | 52 | 53.1 | 2.12 | — | — | — | 145 | 178.85 |
| [Xelpmoc Design and Tech](https://tapetide.com/ipo/company/xelpmoc-design-and-tech-ltd) | Mainboard | 2019-02-04 | 66 | 56 | -15.15 | — | — | — | 80.77 | 22.38 |
| K P I Global Infrastructure | SME | 2019-01-22 | 80 | 80.8 | 1 | — | — | — | — | — |
| [Axita Cotton](https://tapetide.com/ipo/company/axita-cotton-ltd) | SME | 2019-01-10 | 60 | 61 | 1.67 | — | — | — | — | — |

---

Compiled by Tapetide from exchange and regulator disclosures (NSE, BSE, SEBI) unless a section states otherwise — any figure marked unofficial or indicative is not an official disclosure. For research and information only, not investment advice. Generated 2026-11-05T01:53:02.015Z.