IPO Listing Gains 2025: Best and Worst IPO Listings
Updated with every listing
By IPO GMP Status desk · Updated 31 December 2025 · How we compile these figures
348 IPOs listed in 2025, with an average listing gain of +10.2%. The best and worst IPO listings of 2025, and how often the GMP estimate held.
2025 at a glance
| All | Mainboard | SME | |
|---|---|---|---|
| IPOs listed | 348 | 105 | 243 |
| Average listing gain | +10.2% | +9.2% | +10.7% |
| Listed above issue price | 216 of 348 | 71 of 105 | 145 of 243 |
| Met or beat the GMP estimate | 152 of 348 | 38 of 105 | 114 of 243 |
Top 10 IPO listings of 2025
| IPO | Type | Listed | Issue price | Listing price | Listing gain | Subscribed | GMP estimate |
|---|---|---|---|---|---|---|---|
| Shyam Dhani Industries | SME | 30 Dec | ₹70 | ₹133 | +90.0% | 988.40x | ₹138 ✗ |
| ScaleSauce | SME | 12 Dec | ₹107 | ₹203.3 | +90.0% | 2.27x | ₹187 ✓ |
| Luxury Time | SME | 11 Dec | ₹82 | ₹155.8 | +90.0% | 635.67x | ₹181 ✗ |
| Exato Technologies | SME | 5 Dec | ₹140 | ₹266 | +90.0% | 947.21x | ₹317 ✗ |
| Workmates Core2Cloud | SME | 18 Nov | ₹204 | ₹387.6 | +90.0% | 141.38x | ₹292 ✓ |
| Infinity Infoway | SME | 8 Oct | ₹155 | ₹294.5 | +90.0% | 277.24x | ₹215 ✓ |
| Manas Polymers | SME | 6 Oct | ₹81 | ₹153.9 | +90.0% | 1.24x | ₹84 ✓ |
| TechD Cybersecurity | SME | 22 Sep | ₹193 | ₹366.7 | +90.0% | 718.30x | ₹403 ✗ |
| Airfloa Rail Technology | SME | 18 Sep | ₹140 | ₹266 | +90.0% | 301.52x | ₹315 ✗ |
| Current Infraprojects | SME | 3 Sep | ₹80 | ₹152 | +90.0% | 379.44x | ₹130 ✓ |
Weakest 10 IPO listings of 2025
| IPO | Type | Listed | Issue price | Listing price | Listing gain | Subscribed | GMP estimate |
|---|---|---|---|---|---|---|---|
| Aptus Pharma | SME | 30 Sep | ₹70 | ₹32.32 | −53.8% | 22.27x | ₹74 ✗ |
| Arunaya Organics | SME | 7 May | ₹58 | ₹30.1 | −48.1% | 2.53x | ₹58 ✗ |
| SSMD Agrotech India | SME | 2 Dec | ₹121 | ₹73 | −39.7% | 1.62x | ₹121 ✗ |
| Om Freight Forwarders | Mainboard | 8 Oct | ₹135 | ₹81.5 | −39.6% | 3.88x | ₹132 ✗ |
| Glottis | Mainboard | 7 Oct | ₹129 | ₹84 | −34.9% | 2.12x | ₹129 ✗ |
| Jainik Power and Cables | SME | 17 Jun | ₹110 | ₹82 | −25.4% | 1.54x | ₹110 ✗ |
| Ace Alpha Tech | SME | 3 Jul | ₹107 | ₹81 | −24.3% | 101.75x | ₹137 ✗ |
| Pushpa Jewellers | SME | 7 Jul | ₹147 | ₹112 | −23.8% | 2.46x | ₹147 ✗ |
| Accretion Pharmaceuticals | SME | 21 May | ₹101 | ₹79 | −21.8% | 7.67x | ₹101 ✗ |
| BMW Ventures | Mainboard | 1 Oct | ₹99 | ₹78 | −21.2% | 1.50x | ₹99 ✗ |
Month by month
- IPOs in January 202518 listings
- IPOs in February 202520 listings
- IPOs in March 20255 listings
- IPOs in April 20251 listing
- IPOs in May 202513 listings
- IPOs in June 202524 listings
- IPOs in July 202544 listings
- IPOs in August 202546 listings
- IPOs in September 202552 listings
- IPOs in October 202552 listings
- IPOs in November 202522 listings
- IPOs in December 202551 listings
Frequently asked questions
Which IPO gave the highest listing gain in 2025?
Shyam Dhani Industries, which listed +90.0% over its issue price.
What was the average IPO listing gain in 2025?
+10.2% across 348 IPOs, mainboard and SME together.
How often did IPOs list above their issue price in 2025?
216 of 348 IPOs listed above their issue price.
All listings, with today's price against the issue price, are on the IPO performance page. Nothing here is investment advice; see the disclaimer.