IPO Listing Gains in 2020
Final for 2020: every mainboard and SME IPO that listed in the year.
- IPOs listed
- 31
- ₹200 Cr raised
- Median listing gain
- +0.63%
- average +0.83%
- Listed above issue
- 58.1%
- 18 above · 9 at · 4 below
- Trading below issue now
- 2
- 11.8% of 17 priced
- Median return since issue
- +177.36%
- 10 doubled · 1 halved
31 SME IPOs listed on NSE and BSE in 2020. Across them, the average listing-day gain was +0.83% (median +0.63%), and 18 of the 31 IPOs with a listing price (58.1%) listed above their issue price.
2 of the 17 SME IPOs with a current price (11.8%) traded below their issue price at the close of 4 Nov 2026, 0 of them after listing above it. The median return since issue is +177.36%; 10 have doubled or more and 1 have lost half or more.
Trading below issue: SME IPOs listed in 2020
Showing 2 of 31 · latest listing 2 Dec 2020
| IPO | Listed | Issue price | Listing price | Listing gain | Current price | Since issue |
|---|---|---|---|---|---|---|
| Madhav Copper SME | 6 Feb 2020 | ₹102.00 | ₹102.00 | 0.00% | ₹51.74 | −49.27% |
| Gian Life Care SME | 13 Jan 2020 | ₹22.00 | ₹22.00 | 0.00% | ₹4.25 | −57.50% |
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 2020 SME IPOs listed
Listing-day gain of the 31 issues with a listing price, in fixed bands.
- −20% or worse 1 3.2%
- −20% to −10% 0 0.0%
- −10% to 0% 3 9.7%
- At issue price 9 29.0%
- 0% to 10% 16 51.6%
- 10% to 25% 2 6.5%
- 25% to 50% 0 0.0%
- 50% to 90% 0 0.0%
- 90% or more 0 0.0%
Listing gains by issue size
Total offer as disclosed.
| Issue size | IPOs | Median listing gain | Listed above issue | Now below issue |
|---|---|---|---|---|
| Under ₹50 Cr | 29 | +0.63% | 55.2% | 2 of 17 |
| Not disclosed | 2 | +1.19% | 100.0% | 0 of 0 |
Listing gains and "listed above issue" cover issues with a listing price; "now below issue" and the return since issue cover issues with a current price.
Mainboard vs SME IPO listing gains
Mainboard: 16 listings, average +38.72%, median +18.41%, 75.0% above issue price. SME: 31 listings, average +0.83%, median +0.63%, 58.1% above issue price.
| Segment | Listed | Average gain | Median gain | Above / at / below issue | Above issue |
|---|---|---|---|---|---|
| Mainboard | 16 | +38.72% | +18.41% | 12 / 0 / 4 | 75.0% |
| SME | 31 | +0.83% | +0.63% | 18 / 9 / 4 | 58.1% |
| SME | 31 | +0.83% | +0.63% | 18 / 9 / 4 | 58.1% |
Listing gains by month
By listing date. Averages cover issues with a recorded listing price.
| Month | Listed | Average gain | Median gain | Above issue |
|---|---|---|---|---|
| Jan 2020 | 4 | +0.79% | +0.70% | 3 of 4 |
| Feb 2020 | 5 | +3.55% | +1.40% | 4 of 5 |
| Mar 2020 | 3 | 0.00% | 0.00% | 0 of 3 |
| Apr 2020 | 3 | +1.72% | +2.16% | 2 of 3 |
| Jun 2020 | 1 | −0.27% | −0.27% | 0 of 1 |
| Jul 2020 | 2 | −11.53% | −11.53% | 1 of 2 |
| Aug 2020 | 2 | +1.50% | +1.50% | 1 of 2 |
| Sep 2020 | 1 | +1.86% | +1.86% | 1 of 1 |
| Oct 2020 | 8 | +2.03% | +0.32% | 4 of 8 |
| Nov 2020 | 1 | +1.25% | +1.25% | 1 of 1 |
| Dec 2020 | 1 | +0.50% | +0.50% | 1 of 1 |
Highest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Tranway Technologies SME SME | 5 Feb 2020 | ₹10.00 | ₹11.10 | +11.00% |
| Veer Global Infraconstruction SME SME | 19 Oct 2020 | ₹28.00 | ₹31.00 | +10.71% |
| AAA Technologies SME SME | 13 Oct 2020 | ₹42.00 | ₹44.50 | +5.95% |
| ICL Organic Dairy Products SME SME | 17 Feb 2020 | ₹20.00 | ₹20.80 | +4.00% |
| Suratwwala Business SME SME | 13 Aug 2020 | ₹15.00 | ₹15.45 | +3.00% |
Lowest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Bonlon Industries SME SME | 13 Jul 2020 | ₹28.00 | ₹21.00 | −25.00% |
| Atal Realtech SME SME | 15 Oct 2020 | ₹72.00 | ₹70.20 | −2.50% |
| SecMark SME SME | 1 Oct 2020 | ₹135.00 | ₹134.00 | −0.74% |
| Billwin Industries SME SME | 30 Jun 2020 | ₹37.00 | ₹36.90 | −0.27% |
| Gian Life Care SME SME | 13 Jan 2020 | ₹22.00 | ₹22.00 | 0.00% |
Highest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Advait Infratech SME SME | 28 Sep 2020 | ₹51.00 | ₹1,886.40 | +7,297.65% |
| Cospower Engineering SME SME | 30 Mar 2020 | ₹51.00 | ₹2,876.40 | +5,540.00% |
| Laxmi Goldorna SME SME | 16 Apr 2020 | ₹15.00 | ₹254.75 | +3,976.00% |
| DJ Mediaprint SME SME | 13 Apr 2020 | ₹20.00 | ₹69.38 | +1,981.40% |
| Veer Global Infraconstruction SME SME | 19 Oct 2020 | ₹28.00 | ₹109.90 | +685.00% |
Lowest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Gian Life Care SME SME | 13 Jan 2020 | ₹22.00 | ₹4.25 | −57.50% |
| Madhav Copper SME SME | 6 Feb 2020 | ₹102.00 | ₹51.74 | −49.27% |
| Chandra Bhagat Pharma SME SME | 14 Feb 2020 | ₹51.00 | ₹57.25 | +12.25% |
| Bonlon Industries SME SME | 13 Jul 2020 | ₹28.00 | ₹34.23 | +22.25% |
| Valencia Nutrition SME SME | 6 Jan 2020 | ₹46.00 | ₹58.00 | +26.09% |
SME 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 2020 and 31 Dec 2020, 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 2020?
31 SME IPOs listed on NSE and BSE in 2020. Across them, the average listing-day gain was +0.83% (median +0.63%), and 18 of the 31 IPOs with a listing price (58.1%) listed above their issue price.
How many 2020 IPOs are trading below their issue price?
2 of the 17 SME IPOs with a current price (11.8%) traded below their issue price at the close of 4 Nov 2026, 0 of them after listing above it. The median return since issue is +177.36%; 10 have doubled or more and 1 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