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 below issue: IPOs listed in 2025
Showing 202 of 377 · latest listing 31 Dec 2025
| IPO | Listed | Issue price | Listing price | Listing gain | Current price | Since issue |
|---|---|---|---|---|---|---|
| Apollo Techno Industries SME | 31 Dec 2025 | ₹130.00 | ₹145.00 | +11.54% | ₹85.00 | −34.62% |
| Dachepalli Publishers SME | 30 Dec 2025 | ₹102.00 | ₹81.60 | SME floor −20.00% | ₹91.05 | −10.74% |
| Shyam Dhani Industries SME | 30 Dec 2025 | ₹70.00 | ₹133.00 | SME cap +90.00% | ₹51.45 | −26.50% |
| Sundrex Oil Company SME | 30 Dec 2025 | ₹86.00 | ₹68.80 | SME floor −20.00% | ₹28.25 | −67.15% |
| Neptune Logitek SME | 22 Dec 2025 | ₹126.00 | ₹100.80 | SME floor −20.00% | ₹28.10 | −77.70% |
| Exim Routes SME | 19 Dec 2025 | ₹88.00 | ₹110.00 | +25.00% | ₹80.20 | −8.86% |
| Stanbik Agro SME | 19 Dec 2025 | ₹30.00 | ₹31.75 | +5.83% | ₹22.01 | −26.63% |
| Shipwaves Online SME | 17 Dec 2025 | ₹12.00 | ₹12.00 | 0.00% | ₹2.95 | −75.42% |
| Unisem Agritech SME | 17 Dec 2025 | ₹65.00 | ₹65.00 | 0.00% | ₹42.01 | −35.37% |
| K. V. Toys India SME | 15 Dec 2025 | ₹239.00 | ₹320.00 | +33.89% | ₹215.00 | −10.04% |
| Riddhi Display Equipments SME | 15 Dec 2025 | ₹100.00 | ₹80.00 | SME floor −20.00% | ₹25.70 | −74.30% |
| Wakefit Innovations Mainboard | 15 Dec 2025 | ₹195.00 | ₹195.00 | 0.00% | ₹137.47 | −29.50% |
| Methodhub Software SME | 12 Dec 2025 | ₹194.00 | ₹155.20 | SME floor −20.00% | ₹67.00 | −65.46% |
| Luxury Time SME | 11 Dec 2025 | ₹82.00 | ₹155.80 | SME cap +90.00% | ₹71.75 | −12.50% |
| Western Overseas Study Abroad SME | 11 Dec 2025 | ₹56.00 | ₹54.90 | −1.96% | ₹20.25 | −63.84% |
| Shri Kanha Stainless SME | 10 Dec 2025 | ₹90.00 | ₹88.00 | −2.22% | ₹20.25 | −77.50% |
| Astron Multigrain SME | 8 Dec 2025 | ₹63.00 | ₹50.40 | SME floor −20.00% | ₹18.29 | −70.97% |
| Clear Secured Services SME | 8 Dec 2025 | ₹132.00 | ₹119.00 | −9.85% | ₹68.45 | −48.14% |
| Invicta Diagnostic SME | 8 Dec 2025 | ₹85.00 | ₹100.00 | +17.65% | ₹68.00 | −20.00% |
| Ravelcare SME | 8 Dec 2025 | ₹130.00 | ₹201.00 | +54.62% | ₹87.67 | −32.56% |
| Logiciel Solutions SME | 5 Dec 2025 | ₹193.00 | ₹154.40 | SME floor −20.00% | ₹25.75 | −86.66% |
| K K Silk Mills SME | 3 Dec 2025 | ₹38.00 | ₹32.00 | −15.79% | ₹9.07 | −76.13% |
| SSMD Agrotech India SME | 2 Dec 2025 | ₹121.00 | ₹73.00 | −39.67% | ₹52.00 | −57.02% |
| Excelsoft Technologies Mainboard | 26 Nov 2025 | ₹120.00 | ₹135.00 | +12.50% | ₹80.93 | −32.56% |
| Gallard Steel SME | 26 Nov 2025 | ₹150.00 | ₹223.10 | +48.73% | ₹134.90 | −10.07% |
| Capillary Technologies India Mainboard | 21 Nov 2025 | ₹577.00 | ₹560.00 | −2.95% | ₹510.10 | −11.59% |
| Pine Labs Mainboard | 14 Nov 2025 | ₹221.00 | ₹242.00 | +9.50% | ₹157.77 | −28.61% |
| Finbud Financial Services SME | 13 Nov 2025 | ₹142.00 | ₹157.00 | +10.56% | ₹117.00 | −17.61% |
| Studds Accessories Mainboard | 7 Nov 2025 | ₹585.00 | ₹570.00 | −2.56% | ₹390.45 | −33.26% |
| Orkla India Mainboard | 6 Nov 2025 | ₹730.00 | ₹751.50 | +2.95% | ₹528.10 | −27.66% |
| Safecure Services SME | 6 Nov 2025 | ₹102.00 | ₹81.60 | SME floor −20.00% | ₹24.65 | −75.83% |
| Game Changers Texfab SME | 4 Nov 2025 | ₹102.00 | ₹104.15 | +2.11% | ₹98.00 | −3.92% |
| Midwest Mainboard | 24 Oct 2025 | ₹1,065.00 | ₹1,165.10 | +9.40% | ₹986.00 | −7.42% |
| Shlokka Dyes SME | 17 Oct 2025 | ₹91.00 | ₹90.00 | −1.10% | ₹42.48 | −53.32% |
| Sihora Industries SME | 17 Oct 2025 | ₹66.00 | ₹70.00 | +6.06% | ₹60.00 | −9.09% |
| Canara Robeco Asset Management Company Mainboard | 16 Oct 2025 | ₹266.00 | ₹280.25 | +5.36% | ₹227.61 | −14.43% |
| Mittal Sections SME | 14 Oct 2025 | ₹143.00 | ₹114.40 | SME floor −20.00% | ₹25.00 | −82.52% |
| NSB BPO Solutions SME | 10 Oct 2025 | ₹121.00 | ₹121.45 | +0.37% | ₹23.46 | −80.61% |
| DSM Fresh Foods SME | 9 Oct 2025 | ₹100.00 | ₹120.00 | +20.00% | ₹45.15 | −54.85% |
| Greenleaf Envirotech SME | 9 Oct 2025 | ₹136.00 | ₹134.90 | −0.81% | ₹95.75 | −29.60% |
| Chiraharit SME | 8 Oct 2025 | ₹21.00 | ₹16.80 | SME floor −20.00% | ₹11.20 | −46.67% |
| Munish Forge SME | 8 Oct 2025 | ₹96.00 | ₹105.00 | +9.38% | ₹83.00 | −13.54% |
| Om Freight Forwarders Mainboard | 8 Oct 2025 | ₹135.00 | ₹82.50 | −38.89% | ₹110.34 | −18.27% |
| Sheel Biotech SME | 8 Oct 2025 | ₹63.00 | ₹91.00 | +44.44% | ₹56.65 | −10.08% |
| Sunsky Logistics SME | 8 Oct 2025 | ₹46.00 | ₹51.00 | +10.87% | ₹42.30 | −8.04% |
| Valplast Technologies SME | 8 Oct 2025 | ₹54.00 | ₹57.00 | +5.56% | ₹34.00 | −37.04% |
| Dhillon Freight Carrier SME | 7 Oct 2025 | ₹72.00 | ₹57.60 | SME floor −20.00% | ₹35.50 | −50.69% |
| Fabtech Technologies Mainboard | 7 Oct 2025 | ₹191.00 | ₹191.00 | 0.00% | ₹132.30 | −30.73% |
| Glottis Mainboard | 7 Oct 2025 | ₹129.00 | ₹88.00 | −31.78% | ₹56.58 | −56.14% |
| Om Metallogic SME | 7 Oct 2025 | ₹86.00 | ₹85.00 | −1.16% | ₹28.27 | −67.13% |
| Suba Hotels SME | 7 Oct 2025 | ₹111.00 | ₹154.20 | +38.92% | ₹87.00 | −21.62% |
| M P K Steels (I) SME | 6 Oct 2025 | ₹79.00 | ₹80.00 | +1.27% | ₹46.06 | −41.70% |
| Manas Polymers & Energies SME | 6 Oct 2025 | ₹81.00 | ₹153.90 | SME cap +90.00% | ₹24.00 | −70.37% |
| Pace Digitek Mainboard | 6 Oct 2025 | ₹219.00 | ₹226.85 | +3.58% | ₹161.03 | −26.47% |
| Chatterbox Technologies SME | 3 Oct 2025 | ₹115.00 | ₹135.00 | +17.39% | ₹35.00 | −69.57% |
| Earkart Limited SME | 3 Oct 2025 | ₹135.00 | ₹135.50 | +0.37% | ₹117.00 | −13.33% |
| Jinkushal Industries Mainboard | 3 Oct 2025 | ₹121.00 | ₹125.00 | +3.31% | ₹103.56 | −14.41% |
| TruAlt Bioenergy Mainboard | 3 Oct 2025 | ₹496.00 | ₹550.00 | +10.89% | ₹369.45 | −25.51% |
| BMW Ventures Mainboard | 1 Oct 2025 | ₹99.00 | ₹80.00 | −19.19% | ₹65.00 | −34.34% |
| Gurunanak Agriculture India SME | 1 Oct 2025 | ₹75.00 | ₹60.00 | SME floor −20.00% | ₹36.80 | −50.93% |
| Justo Realfintech SME | 1 Oct 2025 | ₹127.00 | ₹126.90 | −0.08% | ₹82.67 | −34.91% |
| Solvex Edibles SME | 1 Oct 2025 | ₹72.00 | ₹68.00 | −5.56% | ₹14.60 | −79.72% |
| Jaro Institute of Technol. Mgt. and Research Mainboard | 30 Sep 2025 | ₹890.00 | ₹890.00 | 0.00% | ₹334.45 | −62.42% |
| Matrix Geo Solutions SME | 30 Sep 2025 | ₹104.00 | ₹103.90 | −0.10% | ₹45.70 | −56.06% |
| Seshaasai Technologies Mainboard | 30 Sep 2025 | ₹423.00 | ₹436.00 | +3.07% | ₹318.05 | −24.81% |
| Solarworld Energy Solutions Mainboard | 30 Sep 2025 | ₹351.00 | ₹389.00 | +10.83% | ₹109.25 | −68.87% |
| True Colors SME | 30 Sep 2025 | ₹191.00 | ₹191.00 | 0.00% | ₹146.15 | −23.48% |
| Ganesh Consumer Products Mainboard | 29 Sep 2025 | ₹322.00 | ₹295.00 | −8.39% | ₹192.36 | −40.26% |
| GK Energy Mainboard | 26 Sep 2025 | ₹153.00 | ₹165.00 | +7.84% | ₹101.77 | −33.48% |
| Saatvik Green Energy Mainboard | 26 Sep 2025 | ₹465.00 | ₹460.00 | −1.08% | ₹368.50 | −20.75% |
| Siddhi Cotspin SME | 26 Sep 2025 | ₹108.00 | ₹86.40 | SME floor −20.00% | ₹26.50 | −75.46% |
| Ivalue Infosolutions Mainboard | 25 Sep 2025 | ₹299.00 | ₹285.00 | −4.68% | ₹189.37 | −36.67% |
| Sampat Aluminium SME | 24 Sep 2025 | ₹120.00 | ₹120.00 | 0.00% | ₹31.55 | −73.71% |
| VMS TMT Mainboard | 24 Sep 2025 | ₹99.00 | ₹105.00 | +6.06% | ₹43.29 | −56.27% |
| Euro Pratik Sales Mainboard | 23 Sep 2025 | ₹247.00 | ₹273.45 | +10.71% | ₹187.21 | −24.21% |
| Dev Accelerator Mainboard | 17 Sep 2025 | ₹61.00 | ₹61.30 | +0.49% | ₹45.03 | −26.18% |
| Galaxy Medicare SME | 17 Sep 2025 | ₹54.00 | ₹54.00 | 0.00% | ₹17.70 | −67.22% |
| Karbonsteel Engineering SME | 16 Sep 2025 | ₹159.00 | ₹185.10 | +16.42% | ₹102.00 | −35.85% |
| Krupalu Metals SME | 16 Sep 2025 | ₹72.00 | ₹57.60 | SME floor −20.00% | ₹28.25 | −60.76% |
| Vashishtha Luxury Fashion SME | 15 Sep 2025 | ₹111.00 | ₹118.00 | +6.31% | ₹67.85 | −38.87% |
| Austere Systems SME | 12 Sep 2025 | ₹55.00 | ₹75.55 | +37.36% | ₹42.50 | −22.73% |
| Vigor Plast India SME | 12 Sep 2025 | ₹81.00 | ₹85.00 | +4.94% | ₹62.90 | −22.35% |
| Abril Paper Tech SME | 5 Sep 2025 | ₹61.00 | ₹48.80 | SME floor −20.00% | ₹32.25 | −47.13% |
| Snehaa Organics SME | 5 Sep 2025 | ₹122.00 | ₹122.00 | 0.00% | ₹39.00 | −68.03% |
| Oval Projects Engineering SME | 4 Sep 2025 | ₹85.00 | ₹85.25 | +0.29% | ₹44.00 | −48.24% |
| Sattva Engineering Construction SME | 3 Sep 2025 | ₹75.00 | ₹95.10 | +26.80% | ₹49.00 | −34.67% |
| Vikran Engineering Mainboard | 3 Sep 2025 | ₹97.00 | ₹99.70 | +2.78% | ₹55.80 | −42.47% |
| Globtier Infotech SME | 2 Sep 2025 | ₹72.00 | ₹57.60 | SME floor −20.00% | ₹16.56 | −77.00% |
| NIS Management SME | 2 Sep 2025 | ₹111.00 | ₹108.00 | −2.70% | ₹42.21 | −61.97% |
| Classic Electrodes (India) SME | 1 Sep 2025 | ₹87.00 | ₹100.00 | +14.94% | ₹46.75 | −46.26% |
| Shivashrit Foods SME | 1 Sep 2025 | ₹142.00 | ₹148.50 | +4.58% | ₹116.75 | −17.78% |
| ARC Insulation & Insulators SME | 29 Aug 2025 | ₹125.00 | ₹145.00 | +16.00% | ₹27.70 | −77.84% |
| Mangal Electrical Industries Mainboard | 28 Aug 2025 | ₹561.00 | ₹558.00 | −0.53% | ₹246.40 | −56.08% |
| Gem Aromatics Mainboard | 26 Aug 2025 | ₹325.00 | ₹325.00 | 0.00% | ₹139.96 | −56.94% |
| LGT Business Connextions SME | 26 Aug 2025 | ₹107.00 | ₹85.60 | SME floor −20.00% | ₹31.00 | −71.03% |
| Patel Retail Mainboard | 26 Aug 2025 | ₹255.00 | ₹305.00 | +19.61% | ₹245.75 | −3.63% |
| Vikram Solar Mainboard | 26 Aug 2025 | ₹332.00 | ₹340.00 | +2.41% | ₹134.96 | −59.35% |
| Studio LSD SME | 25 Aug 2025 | ₹54.00 | ₹43.20 | SME floor −20.00% | ₹8.65 | −83.98% |
| Mahendra Realtors & Infrastructure SME | 20 Aug 2025 | ₹85.00 | ₹68.00 | SME floor −20.00% | ₹58.00 | −31.76% |
| Regaal Resources Mainboard | 20 Aug 2025 | ₹102.00 | ₹141.80 | +39.02% | ₹86.29 | −15.40% |
| Icodex Publishing Solutions SME | 19 Aug 2025 | ₹102.00 | ₹81.60 | SME floor −20.00% | ₹39.49 | −61.28% |
| Medistep Healthcare SME | 18 Aug 2025 | ₹43.00 | ₹53.00 | +23.26% | ₹18.10 | −57.91% |
| Star Imaging and Path Lab SME | 18 Aug 2025 | ₹142.00 | ₹142.00 | 0.00% | ₹68.90 | −51.48% |
| All Time Plastics Mainboard | 14 Aug 2025 | ₹275.00 | ₹314.30 | +14.29% | ₹195.46 | −28.92% |
| JSW Cement Mainboard | 14 Aug 2025 | ₹147.00 | ₹153.00 | +4.08% | ₹121.79 | −17.15% |
| BLT Logistics SME | 11 Aug 2025 | ₹75.00 | ₹90.95 | +21.27% | ₹30.50 | −59.33% |
| Essex Marine SME | 11 Aug 2025 | ₹54.00 | ₹43.20 | SME floor −20.00% | ₹41.00 | −24.07% |
| Jyoti Global Plast SME | 11 Aug 2025 | ₹66.00 | ₹65.90 | −0.15% | ₹41.55 | −37.05% |
| Cash UR Drive Marketing Limited SME | 7 Aug 2025 | ₹130.00 | ₹155.00 | +19.23% | ₹95.80 | −26.31% |
| Renol Polychem SME | 7 Aug 2025 | ₹105.00 | ₹105.00 | 0.00% | ₹62.00 | −40.95% |
| M & B Engineering Mainboard | 6 Aug 2025 | ₹385.00 | ₹386.00 | +0.26% | ₹259.65 | −32.56% |
| Mehul Colours SME | 6 Aug 2025 | ₹72.00 | ₹85.00 | +18.06% | ₹46.00 | −36.11% |
| National Securities Depository Mainboard | 6 Aug 2025 | ₹800.00 | ₹880.00 | +10.00% | ₹748.60 | −6.42% |
| Takyon Networks SME | 6 Aug 2025 | ₹54.00 | ₹55.85 | +3.43% | ₹15.02 | −72.19% |
| Kaytex Fabrics SME | 5 Aug 2025 | ₹180.00 | ₹144.00 | SME floor −20.00% | ₹61.70 | −65.72% |
| Laxmi India Finance Mainboard | 5 Aug 2025 | ₹158.00 | ₹136.00 | −13.92% | ₹101.57 | −35.72% |
| Property Share Investment Trust- Propshare Titania Mainboard | 4 Aug 2025 | ₹10,60,000.00 | ₹10,59,900.00 | −0.01% | ₹9,99,999.00 | −5.66% |
| Repono SME | 4 Aug 2025 | ₹96.00 | ₹60.56 | −36.92% | ₹64.55 | −32.76% |
| Sellowrap Industries SME | 1 Aug 2025 | ₹83.00 | ₹90.00 | +8.43% | ₹59.00 | −28.92% |
| Brigade Hotel Ventures Mainboard | 31 Jul 2025 | ₹90.00 | ₹82.00 | −8.89% | ₹55.27 | −38.59% |
| Indiqube Spaces Mainboard | 30 Jul 2025 | ₹237.00 | ₹218.70 | −7.72% | ₹185.90 | −21.56% |
| TSC India SME | 30 Jul 2025 | ₹70.00 | ₹68.00 | −2.86% | ₹38.00 | −45.71% |
| Monarch Surveyors and Engineering Consultants SME | 29 Jul 2025 | ₹250.00 | ₹421.25 | +68.50% | ₹227.00 | −9.20% |
| Monika Alcobev SME | 23 Jul 2025 | ₹286.00 | ₹288.00 | +0.70% | ₹135.55 | −52.60% |
| Chemkart India SME | 14 Jul 2025 | ₹248.00 | ₹250.00 | +0.81% | ₹244.65 | −1.35% |
| Smarten Power Systems SME | 14 Jul 2025 | ₹100.00 | ₹144.00 | +44.00% | ₹65.40 | −34.60% |
| Meta Infotech SME | 11 Jul 2025 | ₹161.00 | ₹225.00 | +39.75% | ₹54.39 | −66.22% |
| Happy Square Outsourcing Services SME | 10 Jul 2025 | ₹76.00 | ₹77.00 | +1.32% | ₹34.75 | −54.28% |
| Crizac Mainboard | 9 Jul 2025 | ₹245.00 | ₹280.00 | +14.29% | ₹157.02 | −35.91% |
| Cedaar Textile SME | 7 Jul 2025 | ₹140.00 | ₹119.00 | −15.00% | ₹16.45 | −88.25% |
| Marc Loire Fashions SME | 7 Jul 2025 | ₹100.00 | ₹80.00 | SME floor −20.00% | ₹34.01 | −65.99% |
| Pushpa Jewellers SME | 7 Jul 2025 | ₹147.00 | ₹112.00 | −23.81% | ₹115.00 | −21.77% |
| Silky Overseas SME | 7 Jul 2025 | ₹161.00 | ₹171.00 | +6.21% | ₹67.20 | −58.26% |
| Vandan Foods SME | 7 Jul 2025 | ₹115.00 | ₹125.00 | +8.70% | ₹22.24 | −80.66% |
| Adcounty Media India SME | 4 Jul 2025 | ₹85.00 | ₹130.00 | +52.94% | ₹73.00 | −14.12% |
| Indogulf Cropsciences Mainboard | 3 Jul 2025 | ₹111.00 | ₹111.00 | 0.00% | ₹61.99 | −44.15% |
| Moving Media Entertainment SME | 3 Jul 2025 | ₹70.00 | ₹71.00 | +1.43% | ₹33.40 | −52.29% |
| Pro FX Tech SME | 3 Jul 2025 | ₹87.00 | ₹95.00 | +9.20% | ₹70.00 | −19.54% |
| Valencia India SME | 3 Jul 2025 | ₹110.00 | ₹88.00 | SME floor −20.00% | ₹17.37 | −84.21% |
| HDB Financial Services Mainboard | 2 Jul 2025 | ₹740.00 | ₹835.00 | +12.84% | ₹506.05 | −31.61% |
| Suntech Infra Solutions SME | 2 Jul 2025 | ₹86.00 | ₹109.10 | +26.86% | ₹36.00 | −58.14% |
| Supertech EV SME | 2 Jul 2025 | ₹92.00 | ₹73.60 | SME floor −20.00% | ₹30.82 | −66.50% |
| Abram Food SME | 1 Jul 2025 | ₹98.00 | ₹90.40 | −7.76% | ₹51.00 | −47.96% |
| Ellenbarrie Industrial Gases Mainboard | 1 Jul 2025 | ₹400.00 | ₹492.00 | +23.00% | ₹347.55 | −13.11% |
| Globe Civil Projects Mainboard | 1 Jul 2025 | ₹71.00 | ₹91.10 | +28.31% | ₹38.37 | −45.96% |
| Icon Facilitators SME | 1 Jul 2025 | ₹91.00 | ₹90.00 | −1.10% | ₹65.53 | −27.99% |
| Kalpataru Mainboard | 1 Jul 2025 | ₹414.00 | ₹414.10 | +0.02% | ₹240.80 | −41.84% |
| Shri Hare-Krishna Sponge Iron SME | 1 Jul 2025 | ₹59.00 | ₹64.80 | +9.83% | ₹30.00 | −49.15% |
| Aakaar Medical Technologies SME | 27 Jun 2025 | ₹72.00 | ₹75.00 | +4.17% | ₹70.90 | −1.53% |
| Mayasheel Ventures SME | 27 Jun 2025 | ₹47.00 | ₹58.00 | +23.40% | ₹26.70 | −43.19% |
| Arisinfra Solutions Mainboard | 25 Jun 2025 | ₹222.00 | ₹209.10 | −5.81% | ₹147.38 | −33.61% |
| Eppeltone Engineers SME | 24 Jun 2025 | ₹128.00 | ₹243.20 | SME cap +90.00% | ₹124.50 | −2.73% |
| Aten Papers SME SME | 20 Jun 2025 | ₹96.00 | ₹90.00 | −6.25% | ₹21.00 | −78.13% |
| Oswal Pumps Mainboard | 20 Jun 2025 | ₹614.00 | ₹632.00 | +2.93% | ₹216.26 | −64.78% |
| Ganga Bath Fittings SME | 11 Jun 2025 | ₹49.00 | ₹59.00 | +20.41% | ₹22.50 | −54.08% |
| 3B Films SME | 6 Jun 2025 | ₹50.00 | ₹48.50 | −3.00% | ₹15.75 | −68.50% |
| Scoda Tubes Mainboard | 4 Jun 2025 | ₹140.00 | ₹140.00 | 0.00% | ₹109.47 | −21.81% |
| Nikita Papers SME | 3 Jun 2025 | ₹104.00 | ₹90.00 | −13.46% | ₹63.65 | −38.80% |
| Dar Credit & Capital SME | 28 May 2025 | ₹60.00 | ₹65.15 | +8.58% | ₹36.00 | −40.00% |
| Borana Weaves Mainboard | 27 May 2025 | ₹216.00 | ₹243.00 | +12.50% | ₹212.59 | −1.58% |
| Virtual Galaxy Infotech SME | 19 May 2025 | ₹142.00 | ₹180.00 | +26.76% | ₹129.00 | −9.15% |
| Manoj Jewellers SME | 12 May 2025 | ₹54.00 | ₹53.95 | −0.09% | ₹18.74 | −65.30% |
| Srigee DLM SME | 12 May 2025 | ₹99.00 | ₹188.10 | SME cap +90.00% | ₹74.32 | −24.93% |
| Kenrik Industries SME | 9 May 2025 | ₹25.00 | ₹25.01 | +0.04% | ₹12.68 | −49.28% |
| Arunaya Organics SME | 7 May 2025 | ₹58.00 | ₹30.10 | −48.10% | ₹13.75 | −76.29% |
| Infonative Solutions SME | 8 Apr 2025 | ₹79.00 | ₹63.20 | SME floor −20.00% | ₹31.65 | −59.94% |
| Spinaroo Commercial SME | 8 Apr 2025 | ₹51.00 | ₹52.85 | +3.63% | ₹49.67 | −2.61% |
| ATC Energies System SME | 2 Apr 2025 | ₹118.00 | ₹107.00 | −9.32% | ₹20.75 | −82.42% |
| Grand Continent Hotels SME | 27 Mar 2025 | ₹113.00 | ₹112.90 | −0.09% | ₹101.90 | −9.82% |
| Super Iron Foundry SME | 19 Mar 2025 | ₹108.00 | ₹107.95 | −0.05% | ₹30.35 | −71.90% |
| PDP Shipping & Projects SME | 18 Mar 2025 | ₹135.00 | ₹108.25 | −19.81% | ₹50.40 | −62.67% |
| NAPS Global India SME | 11 Mar 2025 | ₹90.00 | ₹108.00 | +20.00% | ₹83.50 | −7.22% |
| Shreenath Paper Products SME | 5 Mar 2025 | ₹44.00 | ₹35.20 | SME floor −20.00% | ₹15.00 | −65.91% |
| Nukleus Office Solutions SME | 4 Mar 2025 | ₹234.00 | ₹187.20 | SME floor −20.00% | ₹185.00 | −20.94% |
| Swasth Foodtech India SME | 28 Feb 2025 | ₹94.00 | ₹94.00 | 0.00% | ₹15.02 | −84.02% |
| L.K.Mehta Polymers SME | 21 Feb 2025 | ₹71.00 | ₹71.10 | +0.14% | ₹41.00 | −42.25% |
| Shanmuga Hospital SME | 21 Feb 2025 | ₹54.00 | ₹54.00 | 0.00% | ₹43.00 | −20.37% |
| Hexaware Technologies Mainboard | 19 Feb 2025 | ₹708.00 | ₹731.00 | +3.25% | ₹501.20 | −29.21% |
| Ajax Engineering Mainboard | 17 Feb 2025 | ₹629.00 | ₹593.00 | −5.72% | ₹559.95 | −10.98% |
| Eleganz Interiors SME | 14 Feb 2025 | ₹130.00 | ₹122.00 | −6.15% | ₹76.10 | −41.46% |
| Readymix Construction Machinery SME | 13 Feb 2025 | ₹123.00 | ₹123.00 | 0.00% | ₹53.90 | −56.18% |
| Solarium Green Energy SME | 13 Feb 2025 | ₹191.00 | ₹202.00 | +5.76% | ₹96.05 | −49.71% |
| Amwill Health Care SME | 12 Feb 2025 | ₹111.00 | ₹88.85 | −19.95% | ₹41.82 | −62.32% |
| Ken Enterprises SME | 12 Feb 2025 | ₹94.00 | ₹85.00 | −9.57% | ₹42.50 | −54.79% |
| Chamunda Electrical SME | 11 Feb 2025 | ₹50.00 | ₹70.00 | +40.00% | ₹43.95 | −12.10% |
| Malpani Pipes & Fittings SME | 4 Feb 2025 | ₹90.00 | ₹85.90 | −4.56% | ₹55.01 | −38.88% |
| GB Logistics Commerce SME | 31 Jan 2025 | ₹102.00 | ₹81.60 | SME floor −20.00% | ₹21.81 | −78.62% |
| H.M. Electro Mech SME | 31 Jan 2025 | ₹75.00 | ₹81.00 | +8.00% | ₹49.80 | −33.60% |
| Denta Water & Infra Solutions Mainboard | 29 Jan 2025 | ₹294.00 | ₹330.00 | +12.24% | ₹240.29 | −18.27% |
| Rexpro Enterprises SME | 29 Jan 2025 | ₹145.00 | ₹117.00 | −19.31% | ₹28.50 | −80.34% |
| CapitalNumbers Infotech SME | 27 Jan 2025 | ₹263.00 | ₹274.00 | +4.18% | ₹71.47 | −72.83% |
| EMA Partners India SME | 24 Jan 2025 | ₹124.00 | ₹156.50 | +26.21% | ₹90.65 | −26.90% |
| Landmark Immigration Consultants SME | 23 Jan 2025 | ₹72.00 | ₹75.00 | +4.17% | ₹9.00 | −87.50% |
| Rikhav Securities SME | 22 Jan 2025 | ₹86.00 | ₹163.40 | SME cap +90.00% | ₹50.10 | −41.74% |
| Barflex Polyfilms SME | 20 Jan 2025 | ₹60.00 | ₹60.00 | 0.00% | ₹58.00 | −3.33% |
| Laxmi Dental Mainboard | 20 Jan 2025 | ₹428.00 | ₹528.00 | +23.36% | ₹188.71 | −55.91% |
| Capital Infra Trust Mainboard | 17 Jan 2025 | ₹99.00 | ₹99.00 | 0.00% | ₹78.90 | −20.31% |
| Delta Autocorp SME | 14 Jan 2025 | ₹130.00 | ₹175.00 | +34.62% | ₹38.50 | −70.38% |
| Davin Sons Retail SME | 9 Jan 2025 | ₹55.00 | ₹44.00 | SME floor −20.00% | ₹9.37 | −82.96% |
| Indo Farm Equipment Mainboard | 7 Jan 2025 | ₹215.00 | ₹258.40 | +20.19% | ₹123.26 | −42.67% |
| Technichem Organics SME | 7 Jan 2025 | ₹55.00 | ₹57.25 | +4.09% | ₹42.00 | −23.64% |
| Citichem India SME | 3 Jan 2025 | ₹70.00 | ₹70.00 | 0.00% | ₹16.00 | −77.14% |
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