IPO Listing Gains in 2025
Final for 2025: every mainboard and SME IPO that listed in the year.
- IPOs listed
- 108
- ₹1.83 L Cr raised
- Median listing gain
- +4.22%
- average +9.08%
- Listed above issue
- 68.5%
- 74 above · 10 at · 24 below
- Trading below issue now
- 55
- 51.4% of 107 priced
- Median return since issue
- −3.63%
- 15 doubled · 9 halved
108 Mainboard IPOs listed on NSE and BSE in 2025. Across them, the average listing-day gain was +9.08% (median +4.22%), and 74 of the 108 IPOs with a listing price (68.5%) listed above their issue price.
55 of the 107 Mainboard IPOs with a current price (51.4%) traded below their issue price at the close of 4 Nov 2026, 33 of them after listing above it. The median return since issue is −3.63%; 15 have doubled or more and 9 have lost half or more.
Trading below issue: Mainboard IPOs listed in 2025
Showing 55 of 108 · latest listing 30 Dec 2025
| IPO | Listed | Issue price | Listing price | Listing gain | Current price | Since issue |
|---|---|---|---|---|---|---|
| Wakefit Innovations | 15 Dec 2025 | ₹195.00 | ₹195.00 | 0.00% | ₹137.47 | −29.50% |
| Excelsoft Technologies | 26 Nov 2025 | ₹120.00 | ₹135.00 | +12.50% | ₹80.93 | −32.56% |
| Capillary Technologies India | 21 Nov 2025 | ₹577.00 | ₹560.00 | −2.95% | ₹510.10 | −11.59% |
| Pine Labs | 14 Nov 2025 | ₹221.00 | ₹242.00 | +9.50% | ₹157.77 | −28.61% |
| Studds Accessories | 7 Nov 2025 | ₹585.00 | ₹570.00 | −2.56% | ₹390.45 | −33.26% |
| Orkla India | 6 Nov 2025 | ₹730.00 | ₹751.50 | +2.95% | ₹528.10 | −27.66% |
| Midwest | 24 Oct 2025 | ₹1,065.00 | ₹1,165.10 | +9.40% | ₹986.00 | −7.42% |
| Canara Robeco Asset Management Company | 16 Oct 2025 | ₹266.00 | ₹280.25 | +5.36% | ₹227.61 | −14.43% |
| Om Freight Forwarders | 8 Oct 2025 | ₹135.00 | ₹82.50 | −38.89% | ₹110.34 | −18.27% |
| Fabtech Technologies | 7 Oct 2025 | ₹191.00 | ₹191.00 | 0.00% | ₹132.30 | −30.73% |
| Glottis | 7 Oct 2025 | ₹129.00 | ₹88.00 | −31.78% | ₹56.58 | −56.14% |
| Pace Digitek | 6 Oct 2025 | ₹219.00 | ₹226.85 | +3.58% | ₹161.03 | −26.47% |
| Jinkushal Industries | 3 Oct 2025 | ₹121.00 | ₹125.00 | +3.31% | ₹103.56 | −14.41% |
| TruAlt Bioenergy | 3 Oct 2025 | ₹496.00 | ₹550.00 | +10.89% | ₹369.45 | −25.51% |
| BMW Ventures | 1 Oct 2025 | ₹99.00 | ₹80.00 | −19.19% | ₹65.00 | −34.34% |
| Jaro Institute of Technol. Mgt. and Research | 30 Sep 2025 | ₹890.00 | ₹890.00 | 0.00% | ₹334.45 | −62.42% |
| Seshaasai Technologies | 30 Sep 2025 | ₹423.00 | ₹436.00 | +3.07% | ₹318.05 | −24.81% |
| Solarworld Energy Solutions | 30 Sep 2025 | ₹351.00 | ₹389.00 | +10.83% | ₹109.25 | −68.87% |
| Ganesh Consumer Products | 29 Sep 2025 | ₹322.00 | ₹295.00 | −8.39% | ₹192.36 | −40.26% |
| GK Energy | 26 Sep 2025 | ₹153.00 | ₹165.00 | +7.84% | ₹101.77 | −33.48% |
| Saatvik Green Energy | 26 Sep 2025 | ₹465.00 | ₹460.00 | −1.08% | ₹368.50 | −20.75% |
| Ivalue Infosolutions | 25 Sep 2025 | ₹299.00 | ₹285.00 | −4.68% | ₹189.37 | −36.67% |
| VMS TMT | 24 Sep 2025 | ₹99.00 | ₹105.00 | +6.06% | ₹43.29 | −56.27% |
| Euro Pratik Sales | 23 Sep 2025 | ₹247.00 | ₹273.45 | +10.71% | ₹187.21 | −24.21% |
| Dev Accelerator | 17 Sep 2025 | ₹61.00 | ₹61.30 | +0.49% | ₹45.03 | −26.18% |
| Vikran Engineering | 3 Sep 2025 | ₹97.00 | ₹99.70 | +2.78% | ₹55.80 | −42.47% |
| Mangal Electrical Industries | 28 Aug 2025 | ₹561.00 | ₹558.00 | −0.53% | ₹246.40 | −56.08% |
| Gem Aromatics | 26 Aug 2025 | ₹325.00 | ₹325.00 | 0.00% | ₹139.96 | −56.94% |
| Patel Retail | 26 Aug 2025 | ₹255.00 | ₹305.00 | +19.61% | ₹245.75 | −3.63% |
| Vikram Solar | 26 Aug 2025 | ₹332.00 | ₹340.00 | +2.41% | ₹134.96 | −59.35% |
| Regaal Resources | 20 Aug 2025 | ₹102.00 | ₹141.80 | +39.02% | ₹86.29 | −15.40% |
| All Time Plastics | 14 Aug 2025 | ₹275.00 | ₹314.30 | +14.29% | ₹195.46 | −28.92% |
| JSW Cement | 14 Aug 2025 | ₹147.00 | ₹153.00 | +4.08% | ₹121.79 | −17.15% |
| M & B Engineering | 6 Aug 2025 | ₹385.00 | ₹386.00 | +0.26% | ₹259.65 | −32.56% |
| National Securities Depository | 6 Aug 2025 | ₹800.00 | ₹880.00 | +10.00% | ₹748.60 | −6.42% |
| Laxmi India Finance | 5 Aug 2025 | ₹158.00 | ₹136.00 | −13.92% | ₹101.57 | −35.72% |
| Property Share Investment Trust- Propshare Titania | 4 Aug 2025 | ₹10,60,000.00 | ₹10,59,900.00 | −0.01% | ₹9,99,999.00 | −5.66% |
| Brigade Hotel Ventures | 31 Jul 2025 | ₹90.00 | ₹82.00 | −8.89% | ₹55.27 | −38.59% |
| Indiqube Spaces | 30 Jul 2025 | ₹237.00 | ₹218.70 | −7.72% | ₹185.90 | −21.56% |
| Crizac | 9 Jul 2025 | ₹245.00 | ₹280.00 | +14.29% | ₹157.02 | −35.91% |
| Indogulf Cropsciences | 3 Jul 2025 | ₹111.00 | ₹111.00 | 0.00% | ₹61.99 | −44.15% |
| HDB Financial Services | 2 Jul 2025 | ₹740.00 | ₹835.00 | +12.84% | ₹506.05 | −31.61% |
| Ellenbarrie Industrial Gases | 1 Jul 2025 | ₹400.00 | ₹492.00 | +23.00% | ₹347.55 | −13.11% |
| Globe Civil Projects | 1 Jul 2025 | ₹71.00 | ₹91.10 | +28.31% | ₹38.37 | −45.96% |
| Kalpataru | 1 Jul 2025 | ₹414.00 | ₹414.10 | +0.02% | ₹240.80 | −41.84% |
| Arisinfra Solutions | 25 Jun 2025 | ₹222.00 | ₹209.10 | −5.81% | ₹147.38 | −33.61% |
| Oswal Pumps | 20 Jun 2025 | ₹614.00 | ₹632.00 | +2.93% | ₹216.26 | −64.78% |
| Scoda Tubes | 4 Jun 2025 | ₹140.00 | ₹140.00 | 0.00% | ₹109.47 | −21.81% |
| Borana Weaves | 27 May 2025 | ₹216.00 | ₹243.00 | +12.50% | ₹212.59 | −1.58% |
| Hexaware Technologies | 19 Feb 2025 | ₹708.00 | ₹731.00 | +3.25% | ₹501.20 | −29.21% |
| Ajax Engineering | 17 Feb 2025 | ₹629.00 | ₹593.00 | −5.72% | ₹559.95 | −10.98% |
| Denta Water & Infra Solutions | 29 Jan 2025 | ₹294.00 | ₹330.00 | +12.24% | ₹240.29 | −18.27% |
| Laxmi Dental | 20 Jan 2025 | ₹428.00 | ₹528.00 | +23.36% | ₹188.71 | −55.91% |
| Capital Infra Trust | 17 Jan 2025 | ₹99.00 | ₹99.00 | 0.00% | ₹78.90 | −20.31% |
| Indo Farm Equipment | 7 Jan 2025 | ₹215.00 | ₹258.40 | +20.19% | ₹123.26 | −42.67% |
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 2025 Mainboard IPOs listed
Listing-day gain of the 108 issues with a listing price, in fixed bands.
- −20% or worse 2 1.9%
- −20% to −10% 2 1.9%
- −10% to 0% 20 18.5%
- At issue price 10 9.3%
- 0% to 10% 32 29.6%
- 10% to 25% 25 23.1%
- 25% to 50% 13 12.0%
- 50% to 90% 4 3.7%
- 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 | 18 | +6.21% | 66.7% | 12 of 17 |
| ₹250 Cr to ₹1,000 Cr | 53 | +5.92% | 66.0% | 30 of 53 |
| ₹1,000 Cr to ₹5,000 Cr | 29 | +2.93% | 69.0% | 11 of 29 |
| ₹5,000 Cr and over | 8 | +13.42% | 87.5% | 2 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: 108 listings, average +9.08%, median +4.22%, 68.5% above issue price. SME: 269 listings, average +11.15%, median +2.95%, 60.6% above issue price.
| Segment | Listed | Average gain | Median gain | Above / at / below issue | Above issue |
|---|---|---|---|---|---|
| Mainboard | 108 | +9.08% | +4.22% | 74 / 10 / 24 | 68.5% |
| SME | 269 | +11.15% | +2.95% | 163 / 22 / 84 | 60.6% |
| Mainboard | 108 | +9.08% | +4.22% | 74 / 10 / 24 | 68.5% |
Listing gains by month
By listing date. Averages cover issues with a recorded listing price.
| Month | Listed | Average gain | Median gain | Above issue |
|---|---|---|---|---|
| Jan 2025 | 7 | +20.54% | +23.36% | 6 of 7 |
| Feb 2025 | 4 | −0.52% | +0.19% | 2 of 4 |
| May 2025 | 3 | +7.84% | +9.44% | 3 of 3 |
| Jun 2025 | 6 | +0.54% | −2.91% | 2 of 6 |
| Jul 2025 | 13 | +13.86% | +12.84% | 10 of 13 |
| Aug 2025 | 18 | +13.22% | +5.98% | 13 of 18 |
| Sep 2025 | 17 | +7.19% | +4.37% | 12 of 17 |
| Oct 2025 | 18 | +2.45% | +3.17% | 12 of 18 |
| Nov 2025 | 12 | +8.89% | +6.23% | 7 of 12 |
| Dec 2025 | 10 | +12.07% | +6.40% | 7 of 10 |
Highest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Highway Infrastructure Mainboard | 12 Aug 2025 | ₹70.00 | ₹117.00 | +67.14% |
| Urban Company Mainboard | 17 Sep 2025 | ₹103.00 | ₹161.00 | +56.31% |
| Aditya Infotech Mainboard | 5 Aug 2025 | ₹675.00 | ₹1,018.00 | +50.81% |
| LG Electronics India Mainboard | 14 Oct 2025 | ₹1,140.00 | ₹1,715.00 | +50.44% |
| GNG Electronics Mainboard | 30 Jul 2025 | ₹237.00 | ₹350.00 | +47.68% |
Lowest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Om Freight Forwarders Mainboard | 8 Oct 2025 | ₹135.00 | ₹82.50 | −38.89% |
| Glottis Mainboard | 7 Oct 2025 | ₹129.00 | ₹88.00 | −31.78% |
| BMW Ventures Mainboard | 1 Oct 2025 | ₹99.00 | ₹80.00 | −19.19% |
| Laxmi India Finance Mainboard | 5 Aug 2025 | ₹158.00 | ₹136.00 | −13.92% |
| Brigade Hotel Ventures Mainboard | 31 Jul 2025 | ₹90.00 | ₹82.00 | −8.89% |
Highest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Aditya Infotech Mainboard | 5 Aug 2025 | ₹675.00 | ₹3,999.80 | +492.56% |
| Ather Energy Mainboard | 6 May 2025 | ₹321.00 | ₹1,840.00 | +473.21% |
| Rubicon Research Mainboard | 16 Oct 2025 | ₹485.00 | ₹1,716.80 | +253.98% |
| Shreeji Shipping Global Mainboard | 26 Aug 2025 | ₹252.00 | ₹871.15 | +245.69% |
| Quality Power Electrical Equipments Mainboard | 24 Feb 2025 | ₹425.00 | ₹1,452.50 | +241.76% |
Lowest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Solarworld Energy Solutions Mainboard | 30 Sep 2025 | ₹351.00 | ₹109.25 | −68.87% |
| Oswal Pumps Mainboard | 20 Jun 2025 | ₹614.00 | ₹216.26 | −64.78% |
| Jaro Institute of Technol. Mgt. and Research Mainboard | 30 Sep 2025 | ₹890.00 | ₹334.45 | −62.42% |
| Vikram Solar Mainboard | 26 Aug 2025 | ₹332.00 | ₹134.96 | −59.35% |
| Gem Aromatics Mainboard | 26 Aug 2025 | ₹325.00 | ₹139.96 | −56.94% |
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 2025 and 31 Dec 2025, 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 2025?
108 Mainboard IPOs listed on NSE and BSE in 2025. Across them, the average listing-day gain was +9.08% (median +4.22%), and 74 of the 108 IPOs with a listing price (68.5%) listed above their issue price.
How many 2025 IPOs are trading below their issue price?
55 of the 107 Mainboard IPOs with a current price (51.4%) traded below their issue price at the close of 4 Nov 2026, 33 of them after listing above it. The median return since issue is −3.63%; 15 have doubled or more and 9 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