IPO Listing Gains in 2025
Final for 2025: every mainboard and SME IPO that listed in the year.
- IPOs listed
- 377
- 108 mainboard · 269 SME
- Median listing gain
- +3.52%
- average +10.56%
- Listed above issue
- 62.9%
- 237 above · 32 at · 108 below
- Trading below issue now
- 202
- 54.0% of 374 priced
- Median return since issue
- −9.12%
- 65 doubled · 80 halved
377 IPOs listed on NSE and BSE in 2025: 108 mainboard and 269 SME. Across them, the average listing-day gain was +10.56% (median +3.52%), and 237 of the 377 IPOs with a listing price (62.9%) listed above their issue price.
202 of the 374 IPOs with a current price (54.0%) traded below their issue price at the close of 4 Nov 2026, 104 of them after listing above it. The median return since issue is −9.12%; 65 have doubled or more and 80 have lost half or more.
Trading above issue: IPOs listed in 2025
Showing 171 of 377 · latest listing 31 Dec 2025
| IPO | Listed | Issue price | Listing price | Listing gain | Current price | Since issue |
|---|---|---|---|---|---|---|
| Admach Systems SME | 31 Dec 2025 | ₹239.00 | ₹191.20 | SME floor −20.00% | ₹438.00 | +83.26% |
| Bai-Kakaji Polymers SME | 31 Dec 2025 | ₹186.00 | ₹190.00 | +2.15% | ₹289.55 | +55.67% |
| Dhara Rail Projects SME | 31 Dec 2025 | ₹126.00 | ₹150.00 | +19.05% | ₹128.00 | +1.59% |
| Nanta Tech SME | 31 Dec 2025 | ₹220.00 | ₹234.00 | +6.36% | ₹324.25 | +47.39% |
| EPW India SME | 30 Dec 2025 | ₹97.00 | ₹111.00 | +14.43% | ₹255.00 | +162.89% |
| Gujarat Kidney & Super Speciality Mainboard | 30 Dec 2025 | ₹114.00 | ₹120.75 | +5.92% | ₹159.71 | +40.10% |
| Global Ocean Logistics India SME | 24 Dec 2025 | ₹78.00 | ₹79.20 | +1.54% | ₹102.95 | +31.99% |
| Marc Technocrats SME | 24 Dec 2025 | ₹93.00 | ₹74.40 | SME floor −20.00% | ₹145.10 | +56.02% |
| KSH International Mainboard | 23 Dec 2025 | ₹384.00 | ₹370.00 | −3.65% | ₹985.45 | +156.63% |
| Ashwini Container Movers SME | 19 Dec 2025 | ₹142.00 | ₹147.00 | +3.52% | ₹151.50 | +6.69% |
| ICICI Prudential Asset Management Co Mainboard | 19 Dec 2025 | ₹2,165.00 | ₹2,606.20 | +20.38% | ₹2,880.20 | +33.03% |
| HRS Aluglaze SME | 18 Dec 2025 | ₹96.00 | ₹126.00 | +31.25% | ₹241.35 | +151.41% |
| Pajson Agro India SME | 18 Dec 2025 | ₹118.00 | ₹124.00 | +5.08% | ₹298.90 | +153.31% |
| Nephrocare Health Services Mainboard | 17 Dec 2025 | ₹460.00 | ₹491.70 | +6.89% | ₹622.35 | +35.29% |
| Park Medi World Mainboard | 17 Dec 2025 | ₹162.00 | ₹155.60 | −3.95% | ₹230.45 | +42.25% |
| Corona Remedies Mainboard | 15 Dec 2025 | ₹1,062.00 | ₹1,452.00 | +36.72% | ₹2,405.80 | +126.53% |
| Encompass Design India SME | 12 Dec 2025 | ₹107.00 | ₹203.30 | SME cap +90.00% | ₹221.30 | +106.82% |
| Flywings Simulator Training Centre SME | 12 Dec 2025 | ₹191.00 | ₹195.00 | +2.09% | ₹276.05 | +44.53% |
| Aequs Mainboard | 10 Dec 2025 | ₹124.00 | ₹140.00 | +12.90% | ₹219.59 | +77.09% |
| Meesho Mainboard | 10 Dec 2025 | ₹111.00 | ₹161.20 | +45.23% | ₹224.55 | +102.30% |
| Vidya Wires Mainboard | 10 Dec 2025 | ₹52.00 | ₹52.13 | +0.25% | ₹81.77 | +57.25% |
| Helloji Holidays SME | 9 Dec 2025 | ₹118.00 | ₹118.00 | 0.00% | ₹120.70 | +2.29% |
| Neochem Bio Solutions SME | 9 Dec 2025 | ₹98.00 | ₹108.00 | +10.20% | ₹105.00 | +7.14% |
| SPEB Adhesives SME | 8 Dec 2025 | ₹56.00 | ₹60.00 | +7.14% | ₹71.70 | +28.04% |
| Exato Technologies SME | 5 Dec 2025 | ₹140.00 | ₹266.00 | SME cap +90.00% | ₹594.65 | +324.75% |
| Purple Wave Infocom SME | 5 Dec 2025 | ₹126.00 | ₹132.00 | +4.76% | ₹495.85 | +293.53% |
| Mother Nutri Foods SME | 3 Dec 2025 | ₹117.00 | ₹118.40 | +1.20% | ₹152.30 | +30.17% |
| Sudeep Pharma Mainboard | 28 Nov 2025 | ₹593.00 | ₹733.95 | +23.77% | ₹1,116.70 | +88.31% |
| Fujiyama Power Systems Mainboard | 20 Nov 2025 | ₹228.00 | ₹218.40 | −4.21% | ₹393.65 | +72.65% |
| Tenneco Clean Air India Mainboard | 19 Nov 2025 | ₹397.00 | ₹498.00 | +25.44% | ₹464.25 | +16.94% |
| Emmvee Photovoltaic Power Mainboard | 18 Nov 2025 | ₹217.00 | ₹217.00 | 0.00% | ₹246.41 | +13.55% |
| Mahamaya Lifesciences SME | 18 Nov 2025 | ₹114.00 | ₹116.00 | +1.75% | ₹181.00 | +58.77% |
| Physicswallah Mainboard | 18 Nov 2025 | ₹109.00 | ₹143.10 | +31.28% | ₹127.41 | +16.89% |
| Workmates Core2cloud Solution SME | 18 Nov 2025 | ₹204.00 | ₹387.60 | SME cap +90.00% | ₹451.50 | +121.32% |
| Curis Lifesciences SME | 14 Nov 2025 | ₹128.00 | ₹146.10 | +14.14% | ₹177.00 | +38.28% |
| Shining Tools SME | 14 Nov 2025 | ₹114.00 | ₹104.00 | −8.77% | ₹202.75 | +77.85% |
| Billionbrains Garage Ventures Mainboard | 12 Nov 2025 | ₹100.00 | ₹114.00 | +14.00% | ₹207.23 | +107.23% |
| Shreeji Global FMCG SME | 12 Nov 2025 | ₹125.00 | ₹100.00 | SME floor −20.00% | ₹193.65 | +54.92% |
| Lenskart Solutions Mainboard | 10 Nov 2025 | ₹402.00 | ₹390.00 | −2.99% | ₹689.70 | +71.57% |
| Jayesh Logistics SME | 3 Nov 2025 | ₹122.00 | ₹120.00 | −1.64% | ₹125.00 | +2.46% |
| Canara HSBC Life Insurance Company Mainboard | 17 Oct 2025 | ₹106.00 | ₹106.00 | 0.00% | ₹122.89 | +15.93% |
| SK Minerals & Additives SME | 17 Oct 2025 | ₹127.00 | ₹145.00 | +14.17% | ₹406.00 | +219.69% |
| Anantam Highways Trust Mainboard | 16 Oct 2025 | ₹100.00 | ₹103.02 | +3.02% | ₹102.51 | +2.30% |
| Rubicon Research Mainboard | 16 Oct 2025 | ₹485.00 | ₹620.10 | +27.86% | ₹1,716.80 | +253.98% |
| LG Electronics India Mainboard | 14 Oct 2025 | ₹1,140.00 | ₹1,715.00 | +50.44% | ₹1,692.10 | +48.43% |
| Tata Capital Mainboard | 13 Oct 2025 | ₹326.00 | ₹330.00 | +1.23% | ₹337.75 | +3.60% |
| Wework India Management Mainboard | 10 Oct 2025 | ₹648.00 | ₹650.00 | +0.31% | ₹680.50 | +5.02% |
| Advance Agrolife Mainboard | 8 Oct 2025 | ₹100.00 | ₹113.00 | +13.00% | ₹131.28 | +31.28% |
| B.A.G. Convergence SME | 8 Oct 2025 | ₹87.00 | ₹101.00 | +16.09% | ₹110.95 | +27.53% |
| Infinity Infoway SME | 8 Oct 2025 | ₹155.00 | ₹294.50 | SME cap +90.00% | ₹703.00 | +353.55% |
| Zelio E-Mobility SME | 8 Oct 2025 | ₹136.00 | ₹154.90 | +13.90% | ₹1,034.10 | +660.37% |
| Sodhani Capital SME | 7 Oct 2025 | ₹51.00 | ₹80.00 | +56.86% | ₹73.98 | +45.06% |
| Vijaypd Ceutical SME | 7 Oct 2025 | ₹35.00 | ₹35.00 | 0.00% | ₹78.00 | +122.86% |
| Ameenji Rubber SME | 6 Oct 2025 | ₹100.00 | ₹101.00 | +1.00% | ₹236.10 | +136.10% |
| Bhavik Enterprises SME | 6 Oct 2025 | ₹140.00 | ₹143.00 | +2.14% | ₹145.75 | +4.11% |
| KVS Castings SME | 6 Oct 2025 | ₹56.00 | ₹66.30 | +18.39% | ₹64.99 | +16.05% |
| Rukmani Devi Garg Agro Impex SME | 6 Oct 2025 | ₹99.00 | ₹79.20 | SME floor −20.00% | ₹135.50 | +36.87% |
| Gujarat Peanut & Agri Products SME | 3 Oct 2025 | ₹80.00 | ₹64.00 | SME floor −20.00% | ₹87.99 | +9.99% |
| Telge Projects SME | 3 Oct 2025 | ₹105.00 | ₹108.10 | +2.95% | ₹187.00 | +78.10% |
| EPack Prefab Technologies Mainboard | 1 Oct 2025 | ₹204.00 | ₹186.10 | −8.77% | ₹205.01 | +0.50% |
| Jain Resource Recycling Mainboard | 1 Oct 2025 | ₹232.00 | ₹265.25 | +14.33% | ₹280.00 | +20.69% |
| Praruh Technologies SME | 1 Oct 2025 | ₹63.00 | ₹63.00 | 0.00% | ₹150.00 | +138.10% |
| Systematic Industries SME | 1 Oct 2025 | ₹195.00 | ₹193.80 | −0.62% | ₹236.60 | +21.33% |
| Anand Rathi Share & Stock Brokers Mainboard | 30 Sep 2025 | ₹414.00 | ₹432.10 | +4.37% | ₹485.30 | +17.22% |
| Aptus Pharma SME | 30 Sep 2025 | ₹70.00 | ₹80.80 | +15.43% | ₹466.50 | +1,566.07% |
| BharatRohan Airborne Innovations SME | 30 Sep 2025 | ₹85.00 | ₹90.00 | +5.88% | ₹87.00 | +2.35% |
| Ecoline Exim SME | 30 Sep 2025 | ₹141.00 | ₹140.85 | −0.11% | ₹179.50 | +27.30% |
| Atlanta Electricals Mainboard | 29 Sep 2025 | ₹754.00 | ₹858.10 | +13.81% | ₹1,515.10 | +100.94% |
| Prime Cable Industries Limited SME | 29 Sep 2025 | ₹83.00 | ₹81.00 | −2.41% | ₹183.45 | +121.02% |
| JD Cables SME | 25 Sep 2025 | ₹152.00 | ₹160.00 | +5.26% | ₹170.50 | +12.17% |
| TechD Cybersecurity SME | 22 Sep 2025 | ₹193.00 | ₹366.70 | SME cap +90.00% | ₹554.95 | +187.54% |
| L. T. Elevator SME | 19 Sep 2025 | ₹78.00 | ₹136.10 | +74.49% | ₹309.15 | +296.35% |
| Airfloa Rail Technology SME | 18 Sep 2025 | ₹140.00 | ₹266.00 | SME cap +90.00% | ₹455.55 | +225.39% |
| Jay Ambe Supermarkets SME | 17 Sep 2025 | ₹78.00 | ₹79.00 | +1.28% | ₹93.50 | +19.87% |
| Shringar House of Mangalsutra Mainboard | 17 Sep 2025 | ₹165.00 | ₹187.70 | +13.76% | ₹291.30 | +76.55% |
| Urban Company Mainboard | 17 Sep 2025 | ₹103.00 | ₹161.00 | +56.31% | ₹155.01 | +50.50% |
| Nilachal Carbo Metalicks SME | 16 Sep 2025 | ₹85.00 | ₹68.00 | SME floor −20.00% | ₹103.12 | +21.32% |
| Taurian MPS SME | 16 Sep 2025 | ₹171.00 | ₹210.00 | +22.81% | ₹611.00 | +257.31% |
| Sharvaya Metals SME | 12 Sep 2025 | ₹196.00 | ₹219.00 | +11.73% | ₹221.90 | +13.21% |
| Optivalue Tek Consulting SME | 10 Sep 2025 | ₹84.00 | ₹103.60 | +23.33% | ₹206.00 | +145.24% |
| Amanta Healthcare Mainboard | 9 Sep 2025 | ₹126.00 | ₹134.00 | +6.35% | ₹184.91 | +46.75% |
| Goel Construction Company SME | 9 Sep 2025 | ₹263.00 | ₹302.50 | +15.02% | ₹441.15 | +67.74% |
| Rachit Prints SME | 8 Sep 2025 | ₹149.00 | ₹119.20 | SME floor −20.00% | ₹158.35 | +6.28% |
| Sugs Lloyd SME | 5 Sep 2025 | ₹123.00 | ₹119.90 | −2.52% | ₹260.00 | +111.38% |
| Current Infraprojects SME | 3 Sep 2025 | ₹80.00 | ₹152.00 | SME cap +90.00% | ₹94.65 | +18.31% |
| Anondita Medicare SME | 1 Sep 2025 | ₹145.00 | ₹275.50 | SME cap +90.00% | ₹945.55 | +552.10% |
| Shreeji Shipping Global Mainboard | 26 Aug 2025 | ₹252.00 | ₹271.85 | +7.88% | ₹871.15 | +245.69% |
| Bluestone Jewellery & Lifestyle Mainboard | 19 Aug 2025 | ₹517.00 | ₹508.80 | −1.59% | ₹690.65 | +33.59% |
| ANB Metal Cast SME | 18 Aug 2025 | ₹156.00 | ₹164.00 | +5.13% | ₹405.95 | +160.22% |
| Knowledge Realty Trust Mainboard | 18 Aug 2025 | ₹100.00 | ₹104.00 | +4.00% | ₹111.01 | +10.86% |
| Connplex Cinemas SME | 14 Aug 2025 | ₹177.00 | ₹195.00 | +10.17% | ₹239.95 | +35.56% |
| Sawaliya Food Products SME | 14 Aug 2025 | ₹120.00 | ₹228.00 | SME cap +90.00% | ₹180.25 | +50.21% |
| Highway Infrastructure Mainboard | 12 Aug 2025 | ₹70.00 | ₹117.00 | +67.14% | ₹71.96 | +2.80% |
| Aaradhya Disposal Industries SME | 11 Aug 2025 | ₹116.00 | ₹111.00 | −4.31% | ₹117.75 | +1.51% |
| Bhadora Industries SME | 11 Aug 2025 | ₹103.00 | ₹101.00 | −1.94% | ₹119.70 | +16.21% |
| Parth Electricals & Engineering SME | 11 Aug 2025 | ₹170.00 | ₹174.00 | +2.35% | ₹499.65 | +193.91% |
| FlySBS Aviation SME | 8 Aug 2025 | ₹225.00 | ₹427.50 | SME cap +90.00% | ₹540.05 | +140.02% |
| B. D. Industries (Pune) SME | 6 Aug 2025 | ₹108.00 | ₹108.90 | +0.83% | ₹115.45 | +6.90% |
| Sri Lotus Developers & Realty Mainboard | 6 Aug 2025 | ₹150.00 | ₹179.10 | +19.40% | ₹231.20 | +54.13% |
| Aditya Infotech Mainboard | 5 Aug 2025 | ₹675.00 | ₹1,018.00 | +50.81% | ₹3,999.80 | +492.56% |
| Umiya Mobile SME | 4 Aug 2025 | ₹66.00 | ₹69.00 | +4.55% | ₹84.00 | +27.27% |
| Patel Chem Specialities SME | 1 Aug 2025 | ₹84.00 | ₹110.00 | +30.95% | ₹139.00 | +65.48% |
| Shanti Gold International Mainboard | 1 Aug 2025 | ₹199.00 | ₹229.10 | +15.13% | ₹272.40 | +36.88% |
| Shree Refrigerations SME | 1 Aug 2025 | ₹125.00 | ₹169.85 | +35.88% | ₹307.65 | +146.12% |
| GNG Electronics Mainboard | 30 Jul 2025 | ₹237.00 | ₹350.00 | +47.68% | ₹728.90 | +207.55% |
| Savy Infra and Logistics SME | 28 Jul 2025 | ₹120.00 | ₹136.50 | +13.75% | ₹131.85 | +9.87% |
| Swastika Castal SME | 28 Jul 2025 | ₹65.00 | ₹67.00 | +3.08% | ₹82.00 | +26.15% |
| Anthem Biosciences Mainboard | 21 Jul 2025 | ₹570.00 | ₹723.10 | +26.86% | ₹888.30 | +55.84% |
| Spunweb Nonwoven SME | 21 Jul 2025 | ₹96.00 | ₹151.00 | +57.29% | ₹102.50 | +6.77% |
| Smartworks Coworking Spaces Mainboard | 17 Jul 2025 | ₹407.00 | ₹436.10 | +7.15% | ₹487.60 | +19.80% |
| Asston Pharmaceuticals SME | 16 Jul 2025 | ₹123.00 | ₹119.00 | −3.25% | ₹138.00 | +12.20% |
| CFF Fluid Control SME | 16 Jul 2025 | ₹585.00 | ₹621.00 | +6.15% | ₹983.00 | +68.03% |
| GLEN Industries SME | 15 Jul 2025 | ₹97.00 | ₹157.00 | +61.86% | ₹108.10 | +11.44% |
| Travel Food Services Mainboard | 14 Jul 2025 | ₹1,100.00 | ₹1,126.20 | +2.38% | ₹1,166.20 | +6.02% |
| Cryogenic OGS SME | 10 Jul 2025 | ₹47.00 | ₹89.30 | SME cap +90.00% | ₹339.70 | +622.77% |
| Neetu Yoshi SME | 4 Jul 2025 | ₹75.00 | ₹105.00 | +40.00% | ₹199.25 | +165.67% |
| ACE Alpha Tech SME | 3 Jul 2025 | ₹69.00 | ₹81.00 | +17.39% | ₹167.10 | +142.17% |
| Rama Telecom SME | 2 Jul 2025 | ₹68.00 | ₹72.00 | +5.88% | ₹99.70 | +46.62% |
| Sambhv Steel Tubes Mainboard | 2 Jul 2025 | ₹82.00 | ₹110.10 | +34.27% | ₹165.70 | +102.07% |
| AJC Jewel Manufacturers SME | 1 Jul 2025 | ₹95.00 | ₹99.00 | +4.21% | ₹324.35 | +241.42% |
| Safe Enterprises Retail Fixtures SME | 27 Jun 2025 | ₹138.00 | ₹151.00 | +9.42% | ₹229.50 | +66.30% |
| Influx Healthtech SME | 25 Jun 2025 | ₹96.00 | ₹132.50 | +38.02% | ₹262.35 | +173.28% |
| Patil Automation SME | 23 Jun 2025 | ₹120.00 | ₹155.00 | +29.17% | ₹335.30 | +179.42% |
| Samay Project Services SME | 23 Jun 2025 | ₹34.00 | ₹36.05 | +6.03% | ₹46.50 | +36.76% |
| Monolithisch India SME | 19 Jun 2025 | ₹143.00 | ₹231.55 | +61.92% | ₹1,336.90 | +834.90% |
| Jainik Power Cables SME | 17 Jun 2025 | ₹110.00 | ₹82.00 | −25.45% | ₹178.00 | +61.82% |
| Sacheerome SME | 16 Jun 2025 | ₹102.00 | ₹153.00 | +50.00% | ₹396.40 | +288.63% |
| N R Vandana Tex Industries SME | 4 Jun 2025 | ₹45.00 | ₹45.00 | 0.00% | ₹68.10 | +51.33% |
| Neptune Petrochemicals SME | 4 Jun 2025 | ₹122.00 | ₹132.75 | +8.81% | ₹180.00 | +47.54% |
| Astonea Labs SME | 3 Jun 2025 | ₹135.00 | ₹137.45 | +1.81% | ₹335.00 | +148.15% |
| Blue Water Logistics SME | 3 Jun 2025 | ₹135.00 | ₹141.00 | +4.44% | ₹470.05 | +248.19% |
| Prostarm Info Systems Mainboard | 3 Jun 2025 | ₹105.00 | ₹125.00 | +19.05% | ₹136.39 | +29.90% |
| Aegis Vopak Terminals Mainboard | 2 Jun 2025 | ₹235.00 | ₹220.00 | −6.38% | ₹239.59 | +1.95% |
| Schloss Bangalore Mainboard | 2 Jun 2025 | ₹435.00 | ₹406.50 | −6.55% | ₹663.45 | +52.52% |
| Unified Data- Tech Solutions SME | 29 May 2025 | ₹273.00 | ₹285.00 | +4.40% | ₹471.40 | +72.67% |
| Belrise Industries Mainboard | 28 May 2025 | ₹90.00 | ₹98.50 | +9.44% | ₹219.70 | +144.11% |
| Accretion Pharmaceuticals SME | 21 May 2025 | ₹101.00 | ₹79.00 | −21.78% | ₹206.00 | +103.96% |
| Integrity Infrabuild Developers SME | 20 May 2025 | ₹100.00 | ₹100.80 | +0.80% | ₹193.00 | +93.00% |
| Ather Energy Mainboard | 6 May 2025 | ₹321.00 | ₹326.05 | +1.57% | ₹1,840.00 | +473.21% |
| Iware Supplychain Services SME | 6 May 2025 | ₹95.00 | ₹85.05 | −10.47% | ₹395.15 | +315.95% |
| Tankup Engineers SME | 30 Apr 2025 | ₹140.00 | ₹175.00 | +25.00% | ₹1,800.00 | +1,185.71% |
| Retaggio Industries SME | 7 Apr 2025 | ₹25.00 | ₹25.10 | +0.40% | ₹59.60 | +138.40% |
| Identixweb SME | 3 Apr 2025 | ₹54.00 | ₹55.00 | +1.85% | ₹73.75 | +36.57% |
| Shri Ahimsa Naturals SME | 2 Apr 2025 | ₹119.00 | ₹140.00 | +17.65% | ₹400.00 | +236.13% |
| Desco Infratech SME | 1 Apr 2025 | ₹150.00 | ₹160.00 | +6.67% | ₹180.50 | +20.33% |
| Rapid Fleet Management Services SME | 28 Mar 2025 | ₹192.00 | ₹195.00 | +1.56% | ₹204.05 | +6.28% |
| Divine Hira Jewellers SME | 24 Mar 2025 | ₹90.00 | ₹90.00 | 0.00% | ₹96.00 | +6.67% |
| Paradeep Parivahan SME | 24 Mar 2025 | ₹98.00 | ₹78.40 | SME floor −20.00% | ₹308.90 | +215.20% |
| Balaji Phosphates SME | 7 Mar 2025 | ₹70.00 | ₹75.00 | +7.14% | ₹123.50 | +76.43% |
| Beezaasan Explotech SME | 3 Mar 2025 | ₹175.00 | ₹146.00 | −16.57% | ₹761.00 | +334.86% |
| HP Telecom India SME | 28 Feb 2025 | ₹108.00 | ₹115.05 | +6.53% | ₹476.00 | +340.74% |
| Quality Power Electrical Equipments Mainboard | 24 Feb 2025 | ₹425.00 | ₹432.05 | +1.66% | ₹1,452.50 | +241.76% |
| Royal Arc Electrodes SME | 24 Feb 2025 | ₹120.00 | ₹120.00 | 0.00% | ₹150.00 | +25.00% |
| Tejas Cargo India SME | 24 Feb 2025 | ₹168.00 | ₹175.00 | +4.17% | ₹386.00 | +129.76% |
| Maxvolt Energy Industries SME | 19 Feb 2025 | ₹180.00 | ₹180.00 | 0.00% | ₹379.95 | +111.08% |
| Voler Car SME | 19 Feb 2025 | ₹90.00 | ₹90.00 | 0.00% | ₹287.00 | +218.89% |
| Chandan Healthcare SME | 17 Feb 2025 | ₹159.00 | ₹165.10 | +3.84% | ₹229.35 | +44.25% |
| Dr Agarwal's Health Care Mainboard | 4 Feb 2025 | ₹402.00 | ₹396.90 | −1.27% | ₹523.50 | +30.22% |
| CLN Energy SME | 30 Jan 2025 | ₹250.00 | ₹256.00 | +2.40% | ₹380.00 | +52.00% |
| Stallion India Fluorochemicals Mainboard | 23 Jan 2025 | ₹90.00 | ₹120.00 | +33.33% | ₹199.14 | +121.27% |
| Kabra Jewels SME | 22 Jan 2025 | ₹128.00 | ₹243.20 | SME cap +90.00% | ₹128.45 | +0.35% |
| Sat Kartar Shopping SME | 17 Jan 2025 | ₹81.00 | ₹153.90 | SME cap +90.00% | ₹132.15 | +63.15% |
| Avax Apparels and Ornaments SME | 14 Jan 2025 | ₹70.00 | ₹133.00 | SME cap +90.00% | ₹53.00 | +505.71% |
| B.R.Goyal Infrastructure SME | 14 Jan 2025 | ₹135.00 | ₹135.75 | +0.56% | ₹199.30 | +47.63% |
| Quadrant Future Tek Mainboard | 14 Jan 2025 | ₹290.00 | ₹374.00 | +28.97% | ₹425.20 | +46.62% |
| Indobell Insulations SME | 13 Jan 2025 | ₹46.00 | ₹87.40 | SME cap +90.00% | ₹59.00 | +28.26% |
| Standard Glass Lining Technology Mainboard | 13 Jan 2025 | ₹140.00 | ₹176.00 | +25.71% | ₹417.60 | +198.29% |
| Fabtech Technologies Cleanrooms SME | 10 Jan 2025 | ₹85.00 | ₹161.50 | SME cap +90.00% | ₹363.00 | +327.06% |
| Parmeshwar Metal SME | 9 Jan 2025 | ₹61.00 | ₹84.50 | +38.52% | ₹280.00 | +359.02% |
| Leo Dryfruits & Spices Trading SME | 8 Jan 2025 | ₹52.00 | ₹68.00 | +30.77% | ₹57.25 | +10.10% |
| Anya Polytech & Fertilizers SME | 2 Jan 2025 | ₹14.00 | ₹17.10 | +22.14% | ₹17.95 | +28.21% |
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 IPOs listed
Listing-day gain of the 377 issues with a listing price, in fixed bands.
- −20% or worse 46 12.2%
- −20% to −10% 10 2.7%
- −10% to 0% 52 13.8%
- At issue price 32 8.5%
- 0% to 10% 107 28.4%
- 10% to 25% 59 15.6%
- 25% to 50% 36 9.5%
- 50% to 90% 13 3.4%
- 90% or more 22 5.8%
Hatched: opened at the SME price limit (+90% cap or −20% floor).
22 SME issues opened at exactly +90%, the most an SME listing may open above its issue price, and 38 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 | 178 | +1.69% | 58.4% | 104 of 177 |
| ₹50 Cr to ₹250 Cr | 108 | +4.29% | 64.8% | 55 of 106 |
| ₹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 |
| Not disclosed | 1 | +6.15% | 100.0% | 0 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: 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% |
| All IPOs | 377 | +10.56% | +3.52% | 237 / 32 / 108 | 62.9% |
Listing gains by month
By listing date. Averages cover issues with a recorded listing price.
| Month | Listed | Average gain | Median gain | Above issue |
|---|---|---|---|---|
| Jan 2025 | 29 | +27.59% | +22.14% | 23 of 29 |
| Feb 2025 | 21 | +1.03% | 0.00% | 9 of 21 |
| Mar 2025 | 12 | −5.65% | −0.07% | 3 of 12 |
| Apr 2025 | 8 | +3.23% | +2.74% | 6 of 8 |
| May 2025 | 13 | +5.67% | +1.57% | 9 of 13 |
| Jun 2025 | 24 | +12.61% | +4.31% | 15 of 24 |
| Jul 2025 | 45 | +14.14% | +6.21% | 33 of 45 |
| Aug 2025 | 46 | +9.87% | +4.04% | 29 of 46 |
| Sep 2025 | 53 | +12.10% | +4.58% | 33 of 53 |
| Oct 2025 | 53 | +7.07% | +2.14% | 33 of 53 |
| Nov 2025 | 22 | +10.16% | +2.53% | 13 of 22 |
| Dec 2025 | 51 | +9.66% | +3.52% | 31 of 51 |
Highest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Shyam Dhani Industries SME | 30 Dec 2025 | ₹70.00 | ₹133.00 | SME cap +90.00% |
| Encompass Design India SME | 12 Dec 2025 | ₹107.00 | ₹203.30 | SME cap +90.00% |
| Luxury Time SME | 11 Dec 2025 | ₹82.00 | ₹155.80 | SME cap +90.00% |
| Exato Technologies SME | 5 Dec 2025 | ₹140.00 | ₹266.00 | SME cap +90.00% |
| Workmates Core2cloud Solution SME | 18 Nov 2025 | ₹204.00 | ₹387.60 | SME cap +90.00% |
Lowest listing-day gains
| IPO | Listed | Issue price | Listing price | Listing gain |
|---|---|---|---|---|
| Arunaya Organics SME | 7 May 2025 | ₹58.00 | ₹30.10 | −48.10% |
| SSMD Agrotech India SME | 2 Dec 2025 | ₹121.00 | ₹73.00 | −39.67% |
| Om Freight Forwarders Mainboard | 8 Oct 2025 | ₹135.00 | ₹82.50 | −38.89% |
| Repono SME | 4 Aug 2025 | ₹96.00 | ₹60.56 | −36.92% |
| Glottis Mainboard | 7 Oct 2025 | ₹129.00 | ₹88.00 | −31.78% |
Highest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Aptus Pharma SME | 30 Sep 2025 | ₹70.00 | ₹466.50 | +1,566.07% |
| Tankup Engineers SME | 30 Apr 2025 | ₹140.00 | ₹1,800.00 | +1,185.71% |
| Monolithisch India SME | 19 Jun 2025 | ₹143.00 | ₹1,336.90 | +834.90% |
| Zelio E-Mobility SME | 8 Oct 2025 | ₹136.00 | ₹1,034.10 | +660.37% |
| Cryogenic OGS SME | 10 Jul 2025 | ₹47.00 | ₹339.70 | +622.77% |
Lowest return since issue
| IPO | Listed | Issue price | Current price | Since issue |
|---|---|---|---|---|
| Cedaar Textile SME | 7 Jul 2025 | ₹140.00 | ₹16.45 | −88.25% |
| Landmark Immigration Consultants SME | 23 Jan 2025 | ₹72.00 | ₹9.00 | −87.50% |
| Logiciel Solutions SME | 5 Dec 2025 | ₹193.00 | ₹25.75 | −86.66% |
| Valencia India SME | 3 Jul 2025 | ₹110.00 | ₹17.37 | −84.21% |
| Swasth Foodtech India SME | 28 Feb 2025 | ₹94.00 | ₹15.02 | −84.02% |
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.
- 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 2025?
377 IPOs listed on NSE and BSE in 2025: 108 mainboard and 269 SME. Across them, the average listing-day gain was +10.56% (median +3.52%), and 237 of the 377 IPOs with a listing price (62.9%) listed above their issue price.
How many 2025 IPOs are trading below their issue price?
202 of the 374 IPOs with a current price (54.0%) traded below their issue price at the close of 4 Nov 2026, 104 of them after listing above it. The median return since issue is −9.12%; 65 have doubled or more and 80 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