IPO Listing Gains in 2024
Final for 2024: every mainboard and SME IPO that listed in the year.
- IPOs listed
- 248
- ₹9,422 Cr raised
- Median listing gain
- +37.50%
- average +56.91%
- Listed above issue
- 87.9%
- 217 above · 9 at · 21 below
- Trading below issue now
- 143
- 58.4% of 245 priced
- Median return since issue
- −18.94%
- 47 doubled · 71 halved
248 SME IPOs listed on NSE and BSE in 2024. Across them, the average listing-day gain was +56.91% (median +37.50%), and 217 of the 247 IPOs with a listing price (87.9%) listed above their issue price.
143 of the 245 SME IPOs with a current price (58.4%) traded below their issue price at the close of 4 Nov 2026, 119 of them after listing above it. The median return since issue is −18.94%; 47 have doubled or more and 71 have lost half or more.
Trading below issue: SME IPOs listed in 2024
Showing 143 of 248 · latest listing 27 Dec 2024
| IPO | Listed | Issue price | Listing price | Listing gain | Current price | Since issue |
|---|---|---|---|---|---|---|
| Newmalayalam Steel | 27 Dec 2024 | ₹90.00 | ₹90.00 | 0.00% | ₹21.50 | −76.11% |
| Identical Brains Studios | 26 Dec 2024 | ₹54.00 | ₹95.00 | +75.93% | ₹16.60 | −69.26% |
| Nacdac Infrastructure | 24 Dec 2024 | ₹35.00 | ₹66.50 | SME cap +90.00% | ₹22.80 | −34.86% |
| Supreme Facility Management | 18 Dec 2024 | ₹76.00 | ₹75.00 | −1.32% | ₹18.90 | −75.13% |
| Jungle Camps India | 17 Dec 2024 | ₹72.00 | ₹136.80 | SME cap +90.00% | ₹38.71 | −46.24% |
| Toss The Coin | 17 Dec 2024 | ₹182.00 | ₹345.80 | SME cap +90.00% | ₹172.40 | −5.27% |
| Dhanlaxmi Crop Science | 16 Dec 2024 | ₹55.00 | ₹104.50 | SME cap +90.00% | ₹27.75 | −49.55% |
| Emerald Tyre Manufacturers | 12 Dec 2024 | ₹95.00 | ₹180.50 | SME cap +90.00% | ₹65.00 | −31.58% |
| Ganesh Infraworld | 6 Dec 2024 | ₹83.00 | ₹157.70 | SME cap +90.00% | ₹77.55 | −6.57% |
| Abha Power and Steel | 4 Dec 2024 | ₹75.00 | ₹81.90 | +9.20% | ₹21.20 | −71.73% |
| C2C Advanced Systems | 3 Dec 2024 | ₹226.00 | ₹429.40 | SME cap +90.00% | ₹141.80 | −37.26% |
| Lamosaic India | 29 Nov 2024 | ₹200.00 | ₹164.00 | −18.00% | ₹47.25 | −76.38% |
| Onyx Biotec | 22 Nov 2024 | ₹61.00 | ₹54.05 | −11.39% | ₹36.00 | −40.98% |
| Mangal Compusolution | 21 Nov 2024 | ₹45.00 | ₹45.00 | 0.00% | ₹38.00 | −15.56% |
| Neelam Linens and Garments (India) | 18 Nov 2024 | ₹24.00 | ₹40.05 | +66.88% | ₹6.50 | −72.92% |
| Usha Financial Services | 31 Oct 2024 | ₹168.00 | ₹164.00 | −2.38% | ₹58.65 | −30.18% |
| Premium Plast | 28 Oct 2024 | ₹49.00 | ₹51.45 | +5.00% | ₹44.20 | −9.80% |
| Lakshya Powertech | 23 Oct 2024 | ₹180.00 | ₹342.00 | SME cap +90.00% | ₹100.00 | −44.44% |
| Pranik Logistics | 17 Oct 2024 | ₹77.00 | ₹79.00 | +2.60% | ₹38.95 | −49.42% |
| Shiv Texchem | 15 Oct 2024 | ₹166.00 | ₹239.00 | +43.98% | ₹99.65 | −39.97% |
| Khyati Global Ventures | 11 Oct 2024 | ₹99.00 | ₹105.00 | +6.06% | ₹45.00 | −54.55% |
| Neopolitan Pizza and Foods | 9 Oct 2024 | ₹20.00 | ₹19.25 | −3.75% | ₹6.60 | −67.00% |
| Paramount Dye Tec | 8 Oct 2024 | ₹117.00 | ₹109.90 | −6.07% | ₹39.10 | −66.58% |
| Saj Hotels | 7 Oct 2024 | ₹65.00 | ₹55.00 | −15.38% | ₹26.00 | −60.00% |
| Divyadhan Recycling Industries | 4 Oct 2024 | ₹64.00 | ₹84.00 | +31.25% | ₹37.25 | −41.80% |
| Forge Auto International | 4 Oct 2024 | ₹108.00 | ₹113.00 | +4.63% | ₹90.00 | −16.67% |
| Nexxus Petro Industries | 4 Oct 2024 | ₹105.00 | ₹126.00 | +20.00% | ₹61.25 | −41.67% |
| Thinking Hats Entertainment Solutions | 3 Oct 2024 | ₹44.00 | ₹60.00 | +36.36% | ₹11.45 | −73.98% |
| Unilex Colour & Chemical | 3 Oct 2024 | ₹87.00 | ₹89.00 | +2.30% | ₹30.65 | −64.77% |
| WOL 3D India | 30 Sep 2024 | ₹150.00 | ₹180.05 | +20.03% | ₹132.00 | −12.00% |
| Phoenix Overseas | 27 Sep 2024 | ₹64.00 | ₹64.00 | 0.00% | ₹14.40 | −77.50% |
| S D Retail | 27 Sep 2024 | ₹131.00 | ₹145.00 | +10.69% | ₹77.95 | −40.50% |
| Kalana Ispat | 26 Sep 2024 | ₹66.00 | ₹45.15 | −31.59% | ₹18.00 | −72.73% |
| Paramount Speciality Forgings | 25 Sep 2024 | ₹59.00 | ₹83.00 | +40.68% | ₹29.00 | −50.85% |
| Deccan Transcon Leasing | 24 Sep 2024 | ₹108.00 | ₹116.00 | +7.41% | ₹17.35 | −83.94% |
| Popular Foundations | 24 Sep 2024 | ₹37.00 | ₹37.00 | 0.00% | ₹25.95 | −29.86% |
| SPP Polymer | 17 Sep 2024 | ₹59.00 | ₹63.00 | +6.78% | ₹11.50 | −80.51% |
| Aditya Ultra Steel | 16 Sep 2024 | ₹62.00 | ₹69.90 | +12.74% | ₹22.00 | −64.52% |
| Gajanand International | 16 Sep 2024 | ₹36.00 | ₹42.00 | +16.67% | ₹7.20 | −80.00% |
| Share Samadhan | 16 Sep 2024 | ₹74.00 | ₹73.05 | −1.28% | ₹46.00 | −37.84% |
| My Mudra Fincorp | 12 Sep 2024 | ₹110.00 | ₹130.00 | +18.18% | ₹96.35 | −12.41% |
| Naturewings Holidays | 10 Sep 2024 | ₹74.00 | ₹95.00 | +28.38% | ₹68.00 | −8.11% |
| Jeyyam Global Foods | 9 Sep 2024 | ₹61.00 | ₹61.00 | 0.00% | ₹22.20 | −63.61% |
| Boss Packaging Solutions | 6 Sep 2024 | ₹66.00 | ₹82.50 | +25.00% | ₹53.50 | −18.94% |
| Travels & Rentals | 5 Sep 2024 | ₹40.00 | ₹55.00 | +37.50% | ₹7.25 | −81.88% |
| Aeron Composites | 4 Sep 2024 | ₹125.00 | ₹150.00 | +20.00% | ₹72.95 | −41.64% |
| Paramatrix Technologies | 4 Sep 2024 | ₹110.00 | ₹115.05 | +4.59% | ₹56.00 | −49.09% |
| Indian Phosphate | 3 Sep 2024 | ₹99.00 | ₹188.10 | SME cap +90.00% | ₹77.90 | −21.31% |
| Jay Bee Laminations | 3 Sep 2024 | ₹146.00 | ₹277.40 | SME cap +90.00% | ₹86.25 | −40.92% |
| Vdeal System | 3 Sep 2024 | ₹112.00 | ₹170.00 | +51.79% | ₹108.95 | −2.72% |
| Resourceful Automobile | 29 Aug 2024 | ₹117.00 | ₹117.00 | 0.00% | ₹52.00 | −55.56% |
| Ideal Technoplast Industries | 28 Aug 2024 | ₹121.00 | ₹132.10 | +9.17% | ₹77.00 | −36.36% |
| QVC Exports | 28 Aug 2024 | ₹86.00 | ₹161.00 | +87.21% | ₹23.20 | −73.02% |
| Brace Port Logistics | 26 Aug 2024 | ₹80.00 | ₹152.00 | SME cap +90.00% | ₹68.85 | −13.94% |
| Broach Lifecare Hospital | 21 Aug 2024 | ₹25.00 | ₹47.50 | SME cap +90.00% | ₹12.70 | −49.20% |
| Solve Plastic Products | 21 Aug 2024 | ₹91.00 | ₹102.00 | +12.09% | ₹16.65 | −81.70% |
| Positron Energy | 20 Aug 2024 | ₹250.00 | ₹475.00 | SME cap +90.00% | ₹206.00 | −17.60% |
| Picturepost Studios | 9 Aug 2024 | ₹24.00 | ₹30.00 | +25.00% | ₹2.80 | −88.33% |
| Ashapura Logistics | 6 Aug 2024 | ₹144.00 | ₹185.00 | +28.47% | ₹62.50 | −56.60% |
| Bulkcorp International | 6 Aug 2024 | ₹105.00 | ₹130.00 | +23.81% | ₹77.50 | −26.19% |
| Kizi Apparels | 6 Aug 2024 | ₹21.00 | ₹23.15 | +10.24% | ₹16.85 | −19.76% |
| Esprit Stones | 2 Aug 2024 | ₹87.00 | ₹93.15 | +7.07% | ₹65.00 | −25.29% |
| S A Tech Software India | 2 Aug 2024 | ₹59.00 | ₹112.10 | SME cap +90.00% | ₹41.50 | −29.66% |
| Clinitech Laboratory | 1 Aug 2024 | ₹96.00 | ₹115.00 | +19.79% | ₹30.00 | −68.75% |
| Trom Industries | 1 Aug 2024 | ₹115.00 | ₹218.50 | SME cap +90.00% | ₹57.40 | −50.09% |
| Chetana Education | 31 Jul 2024 | ₹85.00 | ₹98.90 | +16.35% | ₹32.20 | −62.12% |
| Manglam Infra & Engineering | 31 Jul 2024 | ₹56.00 | ₹106.40 | SME cap +90.00% | ₹12.10 | −78.39% |
| V.L.Infraprojects | 30 Jul 2024 | ₹42.00 | ₹79.80 | SME cap +90.00% | ₹24.50 | −41.67% |
| Sar Televenture | 29 Jul 2024 | ₹210.00 | ₹225.05 | +7.17% | ₹77.35 | −63.17% |
| Tunwal E-Motors | 23 Jul 2024 | ₹59.00 | ₹64.00 | +8.47% | ₹22.80 | −61.36% |
| Sati Poly Plast | 22 Jul 2024 | ₹130.00 | ₹247.00 | SME cap +90.00% | ₹35.00 | −73.08% |
| Three M Paper Boards | 22 Jul 2024 | ₹69.00 | ₹76.00 | +10.14% | ₹22.00 | −68.12% |
| Sahaj Solar | 19 Jul 2024 | ₹180.00 | ₹342.00 | SME cap +90.00% | ₹88.95 | −1.17% |
| Ambey Laboratories | 11 Jul 2024 | ₹68.00 | ₹85.00 | +25.00% | ₹27.55 | −59.49% |
| Nephro Care India | 5 Jul 2024 | ₹90.00 | ₹171.00 | SME cap +90.00% | ₹77.35 | −14.06% |
| Shivalic Power Control | 1 Jul 2024 | ₹100.00 | ₹311.00 | +211.00% | ₹47.40 | −52.60% |
| Sylvan Plyboard (India) | 1 Jul 2024 | ₹55.00 | ₹66.00 | +20.00% | ₹48.50 | −11.82% |
| Visaman Global Sales | 1 Jul 2024 | ₹43.00 | ₹45.10 | +4.88% | ₹19.45 | −54.77% |
| Medicamen Organics | 28 Jun 2024 | ₹34.00 | ₹137.85 | +305.44% | ₹25.90 | −23.82% |
| Dindigul Farm Product | 27 Jun 2024 | ₹54.00 | ₹102.60 | SME cap +90.00% | ₹36.65 | −32.13% |
| Winny Immigration & Education Services | 27 Jun 2024 | ₹140.00 | ₹240.00 | +71.43% | ₹30.95 | −77.89% |
| Falcon Technoprojects India | 26 Jun 2024 | ₹92.00 | ₹84.00 | −8.70% | ₹12.10 | −86.85% |
| Gem Enviro Management | 26 Jun 2024 | ₹75.00 | ₹142.50 | SME cap +90.00% | ₹38.22 | −49.04% |
| United Cotfab | 24 Jun 2024 | ₹70.00 | ₹75.00 | +7.14% | ₹12.66 | −81.91% |
| 3C IT Solutions & Telecoms (India) | 12 Jun 2024 | ₹52.00 | ₹43.01 | −17.29% | ₹19.00 | −63.46% |
| Magenta Lifecare | 12 Jun 2024 | ₹35.00 | ₹45.00 | +28.57% | ₹9.50 | −72.86% |
| TBI Corn | 7 Jun 2024 | ₹94.00 | ₹198.00 | +110.64% | ₹69.75 | −25.80% |
| Associated Coaters | 6 Jun 2024 | ₹121.00 | ₹142.00 | +17.36% | ₹91.00 | −24.79% |
| Rulka Electricals | 24 May 2024 | ₹235.00 | ₹525.00 | +123.40% | ₹101.50 | −56.81% |
| Quest Laboratories | 23 May 2024 | ₹97.00 | ₹155.10 | +59.90% | ₹87.50 | −9.79% |
| Indian Emulsifiers | 22 May 2024 | ₹132.00 | ₹430.00 | +225.76% | ₹33.35 | −74.73% |
| Mandeep Auto Industries | 21 May 2024 | ₹67.00 | ₹62.25 | −7.09% | ₹16.50 | −75.37% |
| Veritaas Advertising | 21 May 2024 | ₹114.00 | ₹275.00 | +141.23% | ₹30.50 | −73.25% |
| Piotex Industries | 17 May 2024 | ₹94.00 | ₹109.00 | +15.96% | ₹22.80 | −75.74% |
| Premier Roadlines | 17 May 2024 | ₹67.00 | ₹87.00 | +29.85% | ₹40.90 | −38.96% |
| Energy-Mission Machineries (India) | 16 May 2024 | ₹138.00 | ₹366.00 | +165.22% | ₹108.00 | −21.74% |
| Finelistings Technologies | 14 May 2024 | ₹123.00 | ₹127.00 | +3.25% | ₹33.62 | −72.67% |
| Amkay Products | 8 May 2024 | ₹55.00 | ₹104.50 | SME cap +90.00% | ₹53.50 | −2.73% |
| Sai Swami Metals and Alloys | 8 May 2024 | ₹60.00 | ₹114.00 | SME cap +90.00% | ₹7.90 | −86.83% |
| Storage Technologies & Automation | 8 May 2024 | ₹78.00 | ₹148.20 | SME cap +90.00% | ₹34.84 | −55.33% |
| Varyaa Creations | 30 Apr 2024 | ₹150.00 | ₹285.00 | SME cap +90.00% | ₹26.50 | −82.33% |
| Faalcon Concepts | 26 Apr 2024 | ₹62.00 | ₹95.00 | +53.23% | ₹32.61 | −47.40% |
| Grill Splendour Services | 23 Apr 2024 | ₹120.00 | ₹121.30 | +1.08% | ₹70.00 | −41.67% |
| Ramdevbaba Solvent | 23 Apr 2024 | ₹85.00 | ₹112.00 | +31.76% | ₹77.00 | −9.41% |
| Greenhitech Ventures | 22 Apr 2024 | ₹50.00 | ₹95.00 | SME cap +90.00% | ₹32.60 | −34.80% |
| DCG Cables & Wires | 16 Apr 2024 | ₹100.00 | ₹90.00 | −10.00% | ₹67.35 | −32.65% |
| Teerth Gopicon | 16 Apr 2024 | ₹111.00 | ₹125.00 | +12.61% | ₹9.30 | −91.62% |
| Aluwind Architectural | 9 Apr 2024 | ₹45.00 | ₹45.00 | 0.00% | ₹44.10 | −2.00% |
| Jay Kailash Namkeen | 8 Apr 2024 | ₹73.00 | ₹85.00 | +16.44% | ₹47.14 | −35.42% |
| K2 Infragen | 8 Apr 2024 | ₹119.00 | ₹167.00 | +40.34% | ₹40.50 | −65.97% |
| Radiowalla Network | 5 Apr 2024 | ₹76.00 | ₹120.15 | +58.09% | ₹21.85 | −71.25% |
| Trust Fintech | 4 Apr 2024 | ₹101.00 | ₹143.25 | +41.83% | ₹24.95 | −75.30% |
| Aspire & Innovative Advertising | 3 Apr 2024 | ₹54.00 | ₹56.50 | +4.63% | ₹16.95 | −68.61% |
| Blue Pebble | 3 Apr 2024 | ₹168.00 | ₹199.00 | +18.45% | ₹65.95 | −60.74% |
| Gconnect Logitech & Supply Chain | 3 Apr 2024 | ₹40.00 | ₹42.00 | +5.00% | ₹10.66 | −73.35% |
| Naman In-Store (India) | 2 Apr 2024 | ₹89.00 | ₹125.00 | +40.45% | ₹42.95 | −51.74% |
| Vishwas Agri Seeds | 1 Apr 2024 | ₹86.00 | ₹85.00 | −1.16% | ₹35.95 | −58.20% |
| Omfurn India | 28 Mar 2024 | ₹75.00 | ₹76.60 | +2.13% | ₹52.00 | −30.67% |
| AVP Infracon | 20 Mar 2024 | ₹75.00 | ₹79.00 | +5.33% | ₹59.35 | −20.87% |
| Royal Sense | 19 Mar 2024 | ₹68.00 | ₹129.20 | SME cap +90.00% | ₹67.70 | −0.44% |
| Sona Machinery | 13 Mar 2024 | ₹143.00 | ₹125.00 | −12.59% | ₹32.50 | −77.27% |
| Purv Flexipack | 5 Mar 2024 | ₹71.00 | ₹260.00 | +266.20% | ₹40.55 | −42.89% |
| Owais Metal and Mineral Processing | 4 Mar 2024 | ₹87.00 | ₹250.00 | +187.36% | ₹69.10 | −20.57% |
| Deem Roll-Tech | 27 Feb 2024 | ₹129.00 | ₹200.00 | +55.04% | ₹53.60 | −58.45% |
| Zenith Drugs | 27 Feb 2024 | ₹79.00 | ₹110.00 | +39.24% | ₹39.55 | −49.94% |
| Wise Travel India | 19 Feb 2024 | ₹147.00 | ₹195.00 | +32.65% | ₹98.95 | −32.69% |
| Polysil Irrigation Systems | 16 Feb 2024 | ₹54.00 | ₹56.00 | +3.70% | ₹40.50 | −25.00% |
| Italian Edibles | 12 Feb 2024 | ₹68.00 | ₹55.00 | −19.12% | ₹28.25 | −58.46% |
| Gabriel Pet Straps | 7 Feb 2024 | ₹101.00 | ₹115.00 | +13.86% | ₹63.18 | −37.45% |
| Baweja Studios | 6 Feb 2024 | ₹180.00 | ₹183.00 | +1.67% | ₹25.40 | −85.89% |
| Delaplex | 2 Feb 2024 | ₹192.00 | ₹309.00 | +60.94% | ₹128.95 | −32.84% |
| Docmode Health Technologies | 2 Feb 2024 | ₹79.00 | ₹190.25 | +140.82% | ₹21.20 | −73.16% |
| Brisk Technovision | 31 Jan 2024 | ₹156.00 | ₹175.00 | +12.18% | ₹76.80 | −50.77% |
| Addictive Learning Technology | 30 Jan 2024 | ₹140.00 | ₹310.00 | +121.43% | ₹45.65 | −67.39% |
| Euphoria Infotech (India) | 30 Jan 2024 | ₹100.00 | ₹190.00 | SME cap +90.00% | ₹28.90 | −71.10% |
| Konstelec Engineers | 30 Jan 2024 | ₹70.00 | ₹210.00 | +200.00% | ₹40.15 | −42.64% |
| Maxposure | 23 Jan 2024 | ₹33.00 | ₹145.00 | +339.39% | ₹30.00 | −9.09% |
| Shree Marutinandan Tubes | 19 Jan 2024 | ₹143.00 | ₹200.00 | +39.86% | ₹48.00 | −66.43% |
| New Swan Multitech | 18 Jan 2024 | ₹66.00 | ₹125.40 | SME cap +90.00% | ₹37.99 | −42.44% |
| Kaushalya Logistics | 8 Jan 2024 | ₹75.00 | ₹100.00 | +33.33% | ₹38.15 | −49.13% |
| HRH Next Services | 3 Jan 2024 | ₹36.00 | ₹41.00 | +13.89% | ₹23.15 | −35.69% |
| Aik Pipes & Polymers | 2 Jan 2024 | ₹89.00 | ₹100.00 | +12.36% | ₹29.16 | −67.24% |
| Sameera Agro and Infra | 1 Jan 2024 | ₹180.00 | ₹180.00 | 0.00% | ₹3.90 | −89.17% |
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 2024 SME IPOs listed
Listing-day gain of the 247 issues with a listing price, in fixed bands.
- −20% or worse 3 1.2%
- −20% to −10% 6 2.4%
- −10% to 0% 12 4.9%
- At issue price 9 3.6%
- 0% to 10% 34 13.8%
- 10% to 25% 36 14.6%
- 25% to 50% 39 15.8%
- 50% to 90% 25 10.1%
- 90% or more 83 33.6%
Hatched: opened at the SME price limit (+90% cap or −20% floor).
54 SME issues opened at exactly +90%, the most an SME listing may open above its issue price, and 0 at exactly −20%, the lowest it may open. An open at a limit is the cap, not the price trading would otherwise have settled on, which is one reason the median is a better guide to a typical listing than the average.
Listing gains by issue size
Total offer as disclosed.
| Issue size | IPOs | Median listing gain | Listed above issue | Now below issue |
|---|---|---|---|---|
| Under ₹50 Cr | 185 | +36.36% | 88.1% | 116 of 183 |
| ₹50 Cr to ₹250 Cr | 61 | +41.83% | 86.9% | 26 of 61 |
| Not disclosed | 2 | +7.17% | 100.0% | 1 of 1 |
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: 93 listings, average +28.17%, median +15.94%, 77.4% above issue price. SME: 248 listings, average +56.91%, median +37.50%, 87.9% above issue price.
| Segment | Listed | Average gain | Median gain | Above / at / below issue | Above issue |
|---|---|---|---|---|---|
| Mainboard | 93 | +28.17% | +15.94% | 72 / 3 / 18 | 77.4% |
| SME | 248 | +56.91% | +37.50% | 217 / 9 / 21 | 87.9% |
| SME | 248 | +56.91% | +37.50% | 217 / 9 / 21 | 87.9% |
Listing gains by month
By listing date. Averages cover issues with a recorded listing price.
| Month | Listed | Average gain | Median gain | Above issue |
|---|---|---|---|---|
| Jan 2024 | 18 | +95.18% | +64.93% | 17 of 18 |
| Feb 2024 | 20 | +68.27% | +47.14% | 19 of 20 |
| Mar 2024 | 18 | +50.24% | +33.36% | 16 of 18 |
| Apr 2024 | 23 | +38.43% | +18.45% | 20 of 23 |
| May 2024 | 21 | +96.35% | +90.00% | 19 of 21 |
| Jun 2024 | 17 | +71.45% | +49.69% | 14 of 17 |
| Jul 2024 | 26 | +75.48% | +90.00% | 26 of 26 |
| Aug 2024 | 25 | +51.88% | +41.51% | 24 of 25 |
| Sep 2024 | 35 | +27.84% | +21.91% | 27 of 34 |
| Oct 2024 | 22 | +19.83% | +6.09% | 17 of 22 |
| Nov 2024 | 4 | +9.37% | −5.70% | 1 of 4 |
| Dec 2024 | 19 | +66.93% | +90.00% | 17 of 19 |
Highest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Winsol Engineers SME | 14 May 2024 | ₹75.00 | ₹365.00 | +386.67% |
| Kay Cee Energy & Infra SME | 5 Jan 2024 | ₹54.00 | ₹252.00 | +366.67% |
| Maxposure SME | 23 Jan 2024 | ₹33.00 | ₹145.00 | +339.39% |
| Medicamen Organics SME | 28 Jun 2024 | ₹34.00 | ₹137.85 | +305.44% |
| GP Eco Solutions India SME | 24 Jun 2024 | ₹94.00 | ₹375.00 | +298.94% |
Lowest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| M.V.K. Agro Food Product SME | 7 Mar 2024 | ₹120.00 | ₹79.00 | −34.17% |
| Kalana Ispat SME | 26 Sep 2024 | ₹66.00 | ₹45.15 | −31.59% |
| Bikewo Green Tech SME | 27 Sep 2024 | ₹62.00 | ₹45.00 | −27.42% |
| Italian Edibles SME | 12 Feb 2024 | ₹68.00 | ₹55.00 | −19.12% |
| Lamosaic India SME | 29 Nov 2024 | ₹200.00 | ₹164.00 | −18.00% |
Highest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Hoac Foods India SME | 24 May 2024 | ₹48.00 | ₹861.90 | +1,695.63% |
| Divine Power Energy SME | 2 Jul 2024 | ₹40.00 | ₹699.45 | +1,648.63% |
| Prizor Viztech SME | 22 Jul 2024 | ₹87.00 | ₹1,318.55 | +1,415.57% |
| Aimtron Electronics SME | 6 Jun 2024 | ₹161.00 | ₹1,920.50 | +1,092.86% |
| Afcom Holdings SME | 9 Aug 2024 | ₹108.00 | ₹1,262.75 | +1,069.21% |
Lowest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Teerth Gopicon SME | 16 Apr 2024 | ₹111.00 | ₹9.30 | −91.62% |
| Sameera Agro and Infra SME | 1 Jan 2024 | ₹180.00 | ₹3.90 | −89.17% |
| Picturepost Studios SME | 9 Aug 2024 | ₹24.00 | ₹2.80 | −88.33% |
| Falcon Technoprojects India SME | 26 Jun 2024 | ₹92.00 | ₹12.10 | −86.85% |
| Sai Swami Metals and Alloys SME | 8 May 2024 | ₹60.00 | ₹7.90 | −86.83% |
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 2024 and 31 Dec 2024, 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.
- On listing day an SME issue opens through a pre-open call auction whose price may be at most 90% above the issue price (NSE from July 2024, BSE likewise) and, since 2025, at most 20% below it. Rows that opened exactly at a limit are marked "SME cap" or "SME floor".
Frequently asked questions
How did IPOs perform on listing day in 2024?
248 SME IPOs listed on NSE and BSE in 2024. Across them, the average listing-day gain was +56.91% (median +37.50%), and 217 of the 247 IPOs with a listing price (87.9%) listed above their issue price.
How many 2024 IPOs are trading below their issue price?
143 of the 245 SME IPOs with a current price (58.4%) traded below their issue price at the close of 4 Nov 2026, 119 of them after listing above it. The median return since issue is −18.94%; 47 have doubled or more and 71 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.
Why do so many SME IPOs list at exactly +90% or −20%?
On listing day an SME issue opens through a pre-open call auction whose price may be at most 90% above the issue price (NSE from July 2024, BSE likewise) and, since 2025, at most 20% below it. Rows that opened exactly at a limit are marked "SME cap" or "SME floor".
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