IPOs in December 2025: Listing Gains, GMP & Subscription
Monthly round-up
By IPO GMP Status desk · Updated 28 December 2025 · How we compile these figures
51 IPOs listed in December 2025 — 10 mainboard and 41 SME. The average listing gain was +9.7%, and 30 of 51 listed above their issue price. The best listing was Exato Technologies at +90.0%. The grey market's estimate was met or beaten in 22 of 51.
IPOs listed in December 2025
| IPO | Type | Listed | Issue price | Listing price | Listing gain | Subscribed | GMP estimate |
|---|---|---|---|---|---|---|---|
| SSMD Agrotech India | SME | 2 Dec | ₹121 | ₹73 | −39.7% | 1.62x | ₹121 ✗ |
| K K Silk Mills | SME | 3 Dec | ₹38 | ₹32 | −15.8% | 5.66x | ₹38 ✗ |
| Mother Nutri Foods | SME | 3 Dec | ₹117 | ₹118.4 | +1.2% | 15.92x | ₹117 ✓ |
| Logiciel Solutions | SME | 5 Dec | ₹193 | ₹154.4 | −20.0% | 2.04x | ₹193 ✗ |
| Exato Technologies | SME | 5 Dec | ₹140 | ₹266 | +90.0% | 947.21x | ₹317 ✗ |
| Purple Wave Infocom | SME | 5 Dec | ₹126 | ₹132 | +4.8% | 6.88x | ₹126 ✓ |
| Clear Secured | SME | 8 Dec | ₹132 | ₹119 | −9.8% | 8.83x | ₹135 ✗ |
| Invicta Diagnostic | SME | 8 Dec | ₹85 | ₹100 | +17.6% | 4.27x | ₹85 ✓ |
| Astron Multigrain | SME | 8 Dec | ₹63 | ₹50.4 | −20.0% | 1.22x | ₹63 ✗ |
| Speb Adhesives | SME | 8 Dec | ₹56 | ₹60 | +7.1% | 2.34x | ₹56 ✓ |
| Ravelcare | SME | 8 Dec | ₹130 | ₹201 | +54.6% | 437.60x | ₹205 ✗ |
| Neochem Bio | SME | 9 Dec | ₹98 | ₹108 | +10.2% | 15.52x | ₹100 ✓ |
| Helloji Holidays | SME | 9 Dec | ₹118 | ₹118 | +0.0% | 30.16x | ₹127 ✗ |
| Shri Kanha Stainless | SME | 10 Dec | ₹90 | ₹88 | −2.2% | 2.81x | ₹90 ✗ |
| Vidya Wires | Mainboard | 10 Dec | ₹52 | ₹52 | +0.0% | 28.53x | ₹55 ✗ |
| Aequs | Mainboard | 10 Dec | ₹124 | ₹140 | +12.9% | 104.30x | ₹148 ✗ |
| Meesho | Mainboard | 10 Dec | ₹111 | ₹162.5 | +46.4% | 81.76x | ₹154 ✓ |
| Western Study Abroad | SME | 11 Dec | ₹56 | ₹54.9 | −2.0% | 1.46x | ₹56 ✗ |
| Luxury Time | SME | 11 Dec | ₹82 | ₹155.8 | +90.0% | 635.67x | ₹181 ✗ |
| Flywings Simulator Training | SME | 12 Dec | ₹191 | ₹195 | +2.1% | 1.75x | ₹191 ✓ |
| Methodhub Software | SME | 12 Dec | ₹194 | ₹155.2 | −20.0% | 28.98x | ₹211 ✗ |
| ScaleSauce | SME | 12 Dec | ₹107 | ₹203.3 | +90.0% | 2.27x | ₹187 ✓ |
| Riddhi Display Equipments SME | SME | 15 Dec | ₹100 | ₹80 | −20.0% | 4.97x | ₹101 ✗ |
| K. V. Toys India | SME | 15 Dec | ₹239 | ₹320 | +33.9% | 352.72x | ₹368 ✗ |
| Prodocs Solutions | SME | 15 Dec | ₹138 | ₹144 | +4.3% | 2.74x | ₹138 ✓ |
| Corona Remedies | Mainboard | 15 Dec | ₹1,062 | ₹1,470 | +38.4% | 144.49x | ₹1,404 ✓ |
| Wakefit Innovations | Mainboard | 15 Dec | ₹195 | ₹195 | +0.0% | 2.52x | ₹199 ✗ |
| Shipwaves Online | SME | 17 Dec | ₹12 | ₹12 | +0.0% | 1.70x | ₹12 ✓ |
| Park Medi World | Mainboard | 17 Dec | ₹162 | ₹158.8 | −2.0% | 8.52x | ₹167 ✗ |
| Unisem Agritech | SME | 17 Dec | ₹65 | ₹65 | +0.0% | 2.11x | ₹65 ✓ |
| Nephrocare Health | Mainboard | 17 Dec | ₹460 | ₹490 | +6.5% | 14.08x | ₹497 ✗ |
| HRS Aluglaze | SME | 18 Dec | ₹96 | ₹126 | +31.3% | 44.90x | ₹118 ✓ |
| Pajson Agro India | SME | 18 Dec | ₹118 | ₹124 | +5.1% | 6.59x | ₹124 ✓ |
| Stanbik Agro | SME | 19 Dec | ₹30 | ₹31.75 | +5.8% | 0.00x | ₹30 ✓ |
| Exim Routes | SME | 19 Dec | ₹88 | ₹110 | +25.0% | 15.30x | ₹120 ✗ |
| Ashwini Container Movers | SME | 19 Dec | ₹142 | ₹147 | +3.5% | 1.78x | ₹147 ✓ |
| ICICI Prudential AMC | Mainboard | 19 Dec | ₹2,165 | ₹2,600 | +20.1% | 39.17x | ₹2,685 ✗ |
| Neptune Logitek SME | SME | 22 Dec | ₹126 | ₹100.8 | −20.0% | 1.66x | ₹126 ✗ |
| KSH International | Mainboard | 23 Dec | ₹384 | ₹370 | −3.6% | 0.87x | ₹382 ✗ |
| MARC Technocrats | SME | 24 Dec | ₹93 | ₹74.4 | −20.0% | 9.93x | ₹91 ✗ |
| Global Ocean Logistics | SME | 24 Dec | ₹78 | ₹79.2 | +1.5% | 13.70x | ₹78 ✓ |
| Sundrex Oil | SME | 30 Dec | ₹86 | ₹68.8 | −20.0% | 1.59x | ₹86 ✗ |
| EPW India | SME | 30 Dec | ₹97 | ₹111 | +14.4% | 1.39x | ₹100 ✓ |
| Dachepalli Publishers | SME | 30 Dec | ₹102 | ₹81.6 | −20.0% | 2.04x | ₹102 ✗ |
| Gujarat Kidney | Mainboard | 30 Dec | ₹114 | ₹120 | +5.3% | 5.21x | ₹116 ✓ |
| Shyam Dhani Industries | SME | 30 Dec | ₹70 | ₹133 | +90.0% | 988.40x | ₹138 ✗ |
| Dhara Rail Projects | SME | 31 Dec | ₹126 | ₹150 | +19.1% | 112.01x | ₹143 ✓ |
| Bai Kakaji Polymers | SME | 31 Dec | ₹186 | ₹190 | +2.1% | 5.79x | ₹189 ✓ |
| Apollo Techno Industries | SME | 31 Dec | ₹130 | ₹145 | +11.5% | 50.71x | ₹139 ✓ |
| Nanta Tech | SME | 31 Dec | ₹220 | ₹234 | +6.4% | 6.52x | ₹240 ✗ |
| Admach Systems | SME | 31 Dec | ₹239 | ₹191.2 | −20.0% | 4.19x | ₹250 ✗ |
✓ the listing price met or beat the grey market's estimate; ✗ it fell short.
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Every listing since the tracker began is on the IPO performance page. GMP is an unofficial estimate, not a promise; see the disclaimer.