IPO Listing Gains in 2022
Final for 2022: every mainboard and SME IPO that listed in the year.
- IPOs listed
- 39
- ₹63,284 Cr raised
- Median listing gain
- +3.75%
- average +10.25%
- Listed above issue
- 69.2%
- 27 above · 2 at · 10 below
- Trading below issue now
- 18
- 46.2% of 39 priced
- Median return since issue
- +6.08%
- 12 doubled · 8 halved
39 Mainboard IPOs listed on NSE and BSE in 2022. Across them, the average listing-day gain was +10.25% (median +3.75%), and 27 of the 39 IPOs with a listing price (69.2%) listed above their issue price.
18 of the 39 Mainboard IPOs with a current price (46.2%) traded below their issue price at the close of 4 Nov 2026, 11 of them after listing above it. The median return since issue is +6.08%; 12 have doubled or more and 8 have lost half or more.
Trading above issue: Mainboard IPOs listed in 2022
Showing 21 of 39 · latest listing 30 Dec 2022
| IPO | Listed | Issue price | Listing price | Listing gain | Current price | Since issue |
|---|---|---|---|---|---|---|
| KFin Technologies | 29 Dec 2022 | ₹366.00 | ₹369.00 | +0.82% | ₹896.80 | +145.03% |
| Uniparts India | 12 Dec 2022 | ₹577.00 | ₹575.00 | −0.35% | ₹759.70 | +31.66% |
| Dharmaj Crop Guard | 8 Dec 2022 | ₹237.00 | ₹266.00 | +12.24% | ₹251.40 | +6.08% |
| Inox Green Energy | 23 Nov 2022 | ₹65.00 | ₹60.50 | −6.92% | ₹120.59 | +85.52% |
| Kaynes Technology India | 22 Nov 2022 | ₹587.00 | ₹775.00 | +32.03% | ₹3,330.00 | +467.29% |
| Archean Chemical | 21 Nov 2022 | ₹407.00 | ₹449.00 | +10.32% | ₹428.90 | +5.38% |
| Bikaji Foods International | 16 Nov 2022 | ₹300.00 | ₹321.15 | +7.05% | ₹472.90 | +57.63% |
| Global Health | 16 Nov 2022 | ₹336.00 | ₹398.15 | +18.50% | ₹1,402.00 | +317.26% |
| Electronics Mart India | 17 Oct 2022 | ₹59.00 | ₹89.40 | +51.53% | ₹160.74 | +172.44% |
| Harsha Engineers International | 26 Sep 2022 | ₹330.00 | ₹444.00 | +34.55% | ₹462.00 | +40.00% |
| Tamilnad Mercantile Bank | 15 Sep 2022 | ₹510.00 | ₹510.00 | 0.00% | ₹800.20 | +56.90% |
| Syrma SGS Technology | 26 Aug 2022 | ₹220.00 | ₹262.00 | +19.09% | ₹1,512.60 | +587.55% |
| Aether Industries | 3 Jun 2022 | ₹642.00 | ₹706.15 | +9.99% | ₹1,540.70 | +139.98% |
| eMudhra | 1 Jun 2022 | ₹256.00 | ₹271.00 | +5.86% | ₹358.85 | +40.18% |
| Ethos Limited | 30 May 2022 | ₹878.00 | ₹830.00 | −5.47% | ₹2,738.00 | +211.85% |
| Paradeep Phosphates | 27 May 2022 | ₹42.00 | ₹43.55 | +3.69% | ₹137.21 | +226.69% |
| Venus Pipes and Tubes | 24 May 2022 | ₹326.00 | ₹335.00 | +2.76% | ₹1,843.00 | +465.34% |
| Prudent Corporate Advisory Services | 20 May 2022 | ₹630.00 | ₹660.00 | +4.76% | ₹2,894.40 | +359.43% |
| Rainbow Childrens Medicare | 10 May 2022 | ₹542.00 | ₹506.00 | −6.64% | ₹1,279.60 | +136.09% |
| Hariom Pipe | 13 Apr 2022 | ₹153.00 | ₹214.00 | +39.87% | ₹338.10 | +120.98% |
| Ruchi Soya | 8 Apr 2022 | ₹650.00 | ₹850.00 | +30.77% | ₹383.90 | +77.18% |
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 2022 Mainboard IPOs listed
Listing-day gain of the 39 issues with a listing price, in fixed bands.
- −20% or worse 0 0.0%
- −20% to −10% 0 0.0%
- −10% to 0% 10 25.6%
- At issue price 2 5.1%
- 0% to 10% 13 33.3%
- 10% to 25% 7 17.9%
- 25% to 50% 5 12.8%
- 50% to 90% 2 5.1%
- 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 |
|---|---|---|---|---|
| ₹50 Cr to ₹250 Cr | 4 | +16.13% | 100.0% | 2 of 4 |
| ₹250 Cr to ₹1,000 Cr | 22 | +4.26% | 68.2% | 9 of 22 |
| ₹1,000 Cr to ₹5,000 Cr | 11 | +3.69% | 63.6% | 5 of 11 |
| ₹5,000 Cr and over | 2 | −3.69% | 50.0% | 2 of 2 |
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: 39 listings, average +10.25%, median +3.75%, 69.2% above issue price. SME: 109 listings, average +28.85%, median +10.07%, 78.0% above issue price.
| Segment | Listed | Average gain | Median gain | Above / at / below issue | Above issue |
|---|---|---|---|---|---|
| Mainboard | 39 | +10.25% | +3.75% | 27 / 2 / 10 | 69.2% |
| SME | 109 | +28.85% | +10.07% | 85 / 11 / 13 | 78.0% |
| Mainboard | 39 | +10.25% | +3.75% | 27 / 2 / 10 | 69.2% |
Listing gains by month
By listing date. Averages cover issues with a recorded listing price.
| Month | Listed | Average gain | Median gain | Above issue |
|---|---|---|---|---|
| Jan 2022 | 1 | +0.57% | +0.57% | 1 of 1 |
| Feb 2022 | 2 | +2.09% | +2.09% | 1 of 2 |
| Apr 2022 | 4 | +25.72% | +24.21% | 4 of 4 |
| May 2022 | 8 | +1.66% | +2.00% | 5 of 8 |
| Jun 2022 | 2 | +7.93% | +7.93% | 2 of 2 |
| Aug 2022 | 1 | +19.09% | +19.09% | 1 of 1 |
| Sep 2022 | 3 | +29.82% | +34.55% | 2 of 3 |
| Oct 2022 | 2 | +27.64% | +27.64% | 2 of 2 |
| Nov 2022 | 9 | +10.53% | +7.05% | 6 of 9 |
| Dec 2022 | 7 | +0.64% | 0.00% | 3 of 7 |
Highest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Dreamfolks Services Mainboard | 6 Sep 2022 | ₹326.00 | ₹505.00 | +54.91% |
| Electronics Mart India Mainboard | 17 Oct 2022 | ₹59.00 | ₹89.40 | +51.53% |
| Hariom Pipe Mainboard | 13 Apr 2022 | ₹153.00 | ₹214.00 | +39.87% |
| DCX Systems Mainboard | 11 Nov 2022 | ₹207.00 | ₹286.25 | +38.29% |
| Harsha Engineers International Mainboard | 26 Sep 2022 | ₹330.00 | ₹444.00 | +34.55% |
Lowest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| LIC Mainboard | 17 May 2022 | ₹949.00 | ₹867.20 | −8.62% |
| Inox Green Energy Mainboard | 23 Nov 2022 | ₹65.00 | ₹60.50 | −6.92% |
| Landmark Cars Mainboard | 23 Dec 2022 | ₹506.00 | ₹471.30 | −6.86% |
| Rainbow Childrens Medicare Mainboard | 10 May 2022 | ₹542.00 | ₹506.00 | −6.64% |
| Ethos Limited Mainboard | 30 May 2022 | ₹878.00 | ₹830.00 | −5.47% |
Highest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Syrma SGS Technology Mainboard | 26 Aug 2022 | ₹220.00 | ₹1,512.60 | +587.55% |
| Kaynes Technology India Mainboard | 22 Nov 2022 | ₹587.00 | ₹3,330.00 | +467.29% |
| Venus Pipes and Tubes Mainboard | 24 May 2022 | ₹326.00 | ₹1,843.00 | +465.34% |
| Prudent Corporate Advisory Services Mainboard | 20 May 2022 | ₹630.00 | ₹2,894.40 | +359.43% |
| Global Health Mainboard | 16 Nov 2022 | ₹336.00 | ₹1,402.00 | +317.26% |
Lowest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| AGS Transact Technologies Mainboard | 31 Jan 2022 | ₹175.00 | ₹2.26 | −98.73% |
| Dreamfolks Services Mainboard | 6 Sep 2022 | ₹326.00 | ₹58.30 | −82.12% |
| Veranda Learning Mainboard | 11 Apr 2022 | ₹137.00 | ₹33.31 | −75.69% |
| Uma Exports Mainboard | 7 Apr 2022 | ₹68.00 | ₹19.34 | −71.56% |
| Elin Electronics Mainboard | 30 Dec 2022 | ₹247.00 | ₹73.48 | −70.25% |
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 2022 and 31 Dec 2022, 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 2022?
39 Mainboard IPOs listed on NSE and BSE in 2022. Across them, the average listing-day gain was +10.25% (median +3.75%), and 27 of the 39 IPOs with a listing price (69.2%) listed above their issue price.
How many 2022 IPOs are trading below their issue price?
18 of the 39 Mainboard IPOs with a current price (46.2%) traded below their issue price at the close of 4 Nov 2026, 11 of them after listing above it. The median return since issue is +6.08%; 12 have doubled or more and 8 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