IPO Listing Gains in 2021
Final for 2021: every mainboard and SME IPO that listed in the year.
- IPOs listed
- 66
- ₹1.31 L Cr raised
- Median listing gain
- +11.19%
- average +30.28%
- Listed above issue
- 69.7%
- 46 above · 1 at · 19 below
- Trading below issue now
- 25
- 37.9% of 66 priced
- Median return since issue
- +42.97%
- 26 doubled · 7 halved
66 Mainboard IPOs listed on NSE and BSE in 2021. Across them, the average listing-day gain was +30.28% (median +11.19%), and 46 of the 66 IPOs with a listing price (69.7%) listed above their issue price.
25 of the 66 Mainboard IPOs with a current price (37.9%) traded below their issue price at the close of 4 Nov 2026, 17 of them after listing above it. The median return since issue is +42.97%; 26 have doubled or more and 7 have lost half or more.
Trading below issue: Mainboard IPOs listed in 2021
Showing 25 of 66 · latest listing 31 Dec 2021
| IPO | Listed | Issue price | Listing price | Listing gain | Current price | Since issue |
|---|---|---|---|---|---|---|
| HP Adhesives | 27 Dec 2021 | ₹274.00 | ₹319.00 | +16.42% | ₹32.03 | −41.55% |
| Medplus Health | 23 Dec 2021 | ₹796.00 | ₹1,015.00 | +27.51% | ₹600.20 | −24.60% |
| MapmyIndia | 21 Dec 2021 | ₹1,033.00 | ₹1,581.00 | +53.05% | ₹896.70 | −13.19% |
| Shriram Properties | 20 Dec 2021 | ₹118.00 | ₹94.00 | −20.34% | ₹66.93 | −43.28% |
| Star Health | 10 Dec 2021 | ₹900.00 | ₹848.80 | −5.69% | ₹530.50 | −41.06% |
| Go Fashion | 30 Nov 2021 | ₹690.00 | ₹1,316.00 | +90.72% | ₹265.95 | −61.46% |
| Tarsons Products | 26 Nov 2021 | ₹662.00 | ₹700.00 | +5.74% | ₹311.10 | −53.01% |
| Latent View Analytics | 23 Nov 2021 | ₹197.00 | ₹530.00 | +169.04% | ₹194.50 | −1.27% |
| Paytm | 18 Nov 2021 | ₹2,150.00 | ₹1,955.00 | −9.07% | ₹1,732.40 | −19.42% |
| Sapphire Foods India | 18 Nov 2021 | ₹1,180.00 | ₹1,311.00 | +11.10% | ₹193.41 | −18.05% |
| Policybazaar | 15 Nov 2021 | ₹980.00 | ₹1,150.00 | +17.35% | ₹965.00 | −1.53% |
| Fino Payments Bank | 12 Nov 2021 | ₹577.00 | ₹548.00 | −5.03% | ₹120.30 | −79.15% |
| Aptus Value Housing Finance | 24 Aug 2021 | ₹353.00 | ₹329.95 | −6.53% | ₹206.28 | −41.56% |
| Chemplast Sanmar | 24 Aug 2021 | ₹541.00 | ₹525.00 | −2.96% | ₹207.56 | −61.63% |
| Nuvoco Vistas Corporation | 23 Aug 2021 | ₹570.00 | ₹471.00 | −17.37% | ₹338.85 | −40.55% |
| Exxaro Tiles | 16 Aug 2021 | ₹120.00 | ₹126.00 | +5.00% | ₹6.31 | −47.42% |
| Krsnaa Diagnostics | 16 Aug 2021 | ₹954.00 | ₹1,025.00 | +7.44% | ₹483.05 | −49.37% |
| Clean Science and Technology | 19 Jul 2021 | ₹900.00 | ₹1,784.40 | +98.27% | ₹656.40 | −27.07% |
| G R Infraprojects | 19 Jul 2021 | ₹837.00 | ₹1,700.00 | +103.11% | ₹768.65 | −8.17% |
| India Pesticides | 5 Jul 2021 | ₹296.00 | ₹360.00 | +21.62% | ₹115.17 | −61.09% |
| Suryoday Small Finance Bank | 26 Mar 2021 | ₹305.00 | ₹293.00 | −3.93% | ₹147.30 | −51.70% |
| Heranba Industries Limited | 5 Mar 2021 | ₹627.00 | ₹900.00 | +43.54% | ₹152.17 | −75.73% |
| Nureca Limited | 25 Feb 2021 | ₹400.00 | ₹634.95 | +58.74% | ₹307.50 | −23.12% |
| Indigo Paints | 2 Feb 2021 | ₹1,490.00 | ₹2,607.50 | +75.00% | ₹859.85 | −42.29% |
| Antony Waste Ltd | 1 Jan 2021 | ₹315.00 | ₹430.00 | +36.51% | ₹306.60 | −2.67% |
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 2021 Mainboard IPOs listed
Listing-day gain of the 66 issues with a listing price, in fixed bands.
- −20% or worse 1 1.5%
- −20% to −10% 4 6.1%
- −10% to 0% 14 21.2%
- At issue price 1 1.5%
- 0% to 10% 11 16.7%
- 10% to 25% 12 18.2%
- 25% to 50% 6 9.1%
- 50% to 90% 10 15.2%
- 90% or more 7 10.6%
Listing gains by issue size
Total offer as disclosed.
| Issue size | IPOs | Median listing gain | Listed above issue | Now below issue |
|---|---|---|---|---|
| ₹50 Cr to ₹250 Cr | 5 | +58.74% | 100.0% | 3 of 5 |
| ₹250 Cr to ₹1,000 Cr | 27 | +21.62% | 74.1% | 7 of 27 |
| ₹1,000 Cr to ₹5,000 Cr | 26 | +3.23% | 61.5% | 11 of 26 |
| ₹5,000 Cr and over | 8 | +3.96% | 62.5% | 4 of 8 |
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: 66 listings, average +30.28%, median +11.19%, 69.7% above issue price. SME: 56 listings, average +15.09%, median +2.70%, 76.8% above issue price.
| Segment | Listed | Average gain | Median gain | Above / at / below issue | Above issue |
|---|---|---|---|---|---|
| Mainboard | 66 | +30.28% | +11.19% | 46 / 1 / 19 | 69.7% |
| SME | 56 | +15.09% | +2.70% | 43 / 3 / 10 | 76.8% |
| Mainboard | 66 | +30.28% | +11.19% | 46 / 1 / 19 | 69.7% |
Listing gains by month
By listing date. Averages cover issues with a recorded listing price.
| Month | Listed | Average gain | Median gain | Above issue |
|---|---|---|---|---|
| Jan 2021 | 2 | +16.33% | +16.33% | 1 of 2 |
| Feb 2021 | 6 | +30.75% | +19.74% | 6 of 6 |
| Mar 2021 | 9 | +22.87% | +10.16% | 5 of 9 |
| Apr 2021 | 2 | −5.64% | −5.64% | 0 of 2 |
| May 2021 | 1 | +4.00% | +4.00% | 1 of 1 |
| Jun 2021 | 4 | +17.38% | +21.11% | 4 of 4 |
| Jul 2021 | 5 | +73.86% | +95.00% | 5 of 5 |
| Aug 2021 | 10 | +7.97% | +1.61% | 5 of 10 |
| Sep 2021 | 3 | +19.68% | +9.05% | 3 of 3 |
| Oct 2021 | 2 | +85.72% | +85.72% | 1 of 2 |
| Nov 2021 | 10 | +61.01% | +14.23% | 7 of 10 |
| Dec 2021 | 12 | +18.64% | +12.94% | 8 of 12 |
Highest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Sigachi Industries Mainboard | 15 Nov 2021 | ₹163.00 | ₹575.00 | +252.76% |
| Paras Defence and Space Technologies Mainboard | 1 Oct 2021 | ₹175.00 | ₹475.00 | +171.43% |
| Latent View Analytics Mainboard | 23 Nov 2021 | ₹197.00 | ₹530.00 | +169.04% |
| G R Infraprojects Mainboard | 19 Jul 2021 | ₹837.00 | ₹1,700.00 | +103.11% |
| Clean Science and Technology Mainboard | 19 Jul 2021 | ₹900.00 | ₹1,784.40 | +98.27% |
Lowest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Shriram Properties Mainboard | 20 Dec 2021 | ₹118.00 | ₹94.00 | −20.34% |
| Nuvoco Vistas Corporation Mainboard | 23 Aug 2021 | ₹570.00 | ₹471.00 | −17.37% |
| Kalyan Jewellers Mainboard | 26 Mar 2021 | ₹87.00 | ₹73.90 | −15.06% |
| RateGain Mainboard | 17 Dec 2021 | ₹425.00 | ₹364.80 | −14.16% |
| Metro Brands Mainboard | 22 Dec 2021 | ₹500.00 | ₹436.00 | −12.80% |
Highest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Anand Rathi Mainboard | 14 Dec 2021 | ₹550.00 | ₹2,296.00 | +1,569.82% |
| Paras Defence and Space Technologies Mainboard | 1 Oct 2021 | ₹175.00 | ₹1,265.50 | +1,346.29% |
| Ami Organics Mainboard | 14 Sep 2021 | ₹610.00 | ₹3,777.30 | +1,138.46% |
| MTAR Technologies Mainboard | 15 Mar 2021 | ₹575.00 | ₹6,036.50 | +949.83% |
| Craftsman Automation Mainboard | 25 Mar 2021 | ₹1,490.00 | ₹10,685.00 | +617.11% |
Lowest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Fino Payments Bank Mainboard | 12 Nov 2021 | ₹577.00 | ₹120.30 | −79.15% |
| Heranba Industries Limited Mainboard | 5 Mar 2021 | ₹627.00 | ₹152.17 | −75.73% |
| Chemplast Sanmar Mainboard | 24 Aug 2021 | ₹541.00 | ₹207.56 | −61.63% |
| Go Fashion Mainboard | 30 Nov 2021 | ₹690.00 | ₹265.95 | −61.46% |
| India Pesticides Mainboard | 5 Jul 2021 | ₹296.00 | ₹115.17 | −61.09% |
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 2021 and 31 Dec 2021, 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 2021?
66 Mainboard IPOs listed on NSE and BSE in 2021. Across them, the average listing-day gain was +30.28% (median +11.19%), and 46 of the 66 IPOs with a listing price (69.7%) listed above their issue price.
How many 2021 IPOs are trading below their issue price?
25 of the 66 Mainboard IPOs with a current price (37.9%) traded below their issue price at the close of 4 Nov 2026, 17 of them after listing above it. The median return since issue is +42.97%; 26 have doubled or more and 7 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