IPOs in July 2025: Listing Gains, GMP & Subscription
Monthly round-up
By IPO GMP Status desk · Updated 28 July 2025 · How we compile these figures
44 IPOs listed in July 2025 — 13 mainboard and 31 SME. The average listing gain was +13.2%, and 30 of 44 listed above their issue price. The best listing was Cryogenic OGS at +90.0%. The grey market's estimate was met or beaten in 20 of 44.
IPOs listed in July 2025
| IPO | Type | Listed | Issue price | Listing price | Listing gain | Subscribed | GMP estimate |
|---|---|---|---|---|---|---|---|
| Kalpataru | Mainboard | 1 Jul | ₹414 | ₹414 | +0.0% | 2.31x | ₹415.5 ✗ |
| Ellenbarrie Industrial Gases | Mainboard | 1 Jul | ₹400 | ₹486 | +21.5% | 17.37x | ₹457 ✓ |
| Globe Civil Projects | Mainboard | 1 Jul | ₹71 | ₹90 | +26.8% | 80.97x | ₹98 ✗ |
| Icon Facilitators | SME | 1 Jul | ₹91 | ₹90 | −1.1% | 2.49x | ₹91 ✗ |
| Shri Hare-Krishna Sponge Iron | SME | 1 Jul | ₹59 | ₹64.8 | +9.8% | 6.84x | ₹59 ✓ |
| Abram Food | SME | 1 Jul | ₹98 | ₹90.4 | −7.8% | 28.49x | ₹98 ✗ |
| AJC Jewel | SME | 1 Jul | ₹95 | ₹99 | +4.2% | 2.82x | ₹99 ✓ |
| HDB Financial | Mainboard | 2 Jul | ₹740 | ₹835 | +12.8% | 17.65x | ₹811 ✓ |
| Sambhv Steel Tubes | Mainboard | 2 Jul | ₹82 | ₹110 | +34.1% | 30.33x | ₹96 ✓ |
| Rama Telecom | SME | 2 Jul | ₹68 | ₹72 | +5.9% | 1.61x | ₹68 ✓ |
| Supertech EV | SME | 2 Jul | ₹92 | ₹73.6 | −20.0% | 4.40x | ₹92.5 ✗ |
| Suntech Infra Solutions | SME | 2 Jul | ₹86 | ₹109.1 | +26.9% | 223.64x | ₹127 ✗ |
| Indogulf Cropsciences | Mainboard | 3 Jul | ₹111 | ₹111 | +0.0% | 27.17x | ₹129 ✗ |
| Moving Media Entertainment | SME | 3 Jul | ₹70 | ₹71 | +1.4% | 73.40x | ₹86 ✗ |
| Valencia India | SME | 3 Jul | ₹110 | ₹88 | −20.0% | 1.28x | ₹110 ✗ |
| Ace Alpha Tech | SME | 3 Jul | ₹107 | ₹81 | −24.3% | 101.75x | ₹137 ✗ |
| Adcounty Media India | SME | 4 Jul | ₹85 | ₹130 | +52.9% | 273.08x | ₹125 ✓ |
| Neetu Yoshi | SME | 4 Jul | ₹75 | ₹105 | +40.0% | 128.18x | ₹93.5 ✓ |
| Silky Overseas | SME | 7 Jul | ₹161 | ₹171 | +6.2% | 169.93x | ₹182 ✗ |
| Vandan Foods | SME | 7 Jul | ₹115 | ₹125 | +8.7% | 1.75x | ₹115 ✓ |
| Cedaar Textile IPO | SME | 7 Jul | ₹140 | ₹119 | −15.0% | — | ₹150 ✗ |
| Pushpa Jewellers | SME | 7 Jul | ₹147 | ₹112 | −23.8% | 2.46x | ₹147 ✗ |
| Marc Loire | SME | 7 Jul | ₹100 | ₹80 | −20.0% | 2.61x | ₹100 ✗ |
| Crizac | Mainboard | 9 Jul | ₹245 | ₹281.05 | +14.7% | 62.89x | ₹286.5 ✗ |
| White Force | SME | 10 Jul | ₹76 | ₹77 | +1.3% | 3.58x | ₹81 ✗ |
| Cryogenic OGS | SME | 10 Jul | ₹47 | ₹89.3 | +90.0% | 694.90x | ₹79 ✓ |
| Meta Infotech | SME | 11 Jul | ₹161 | ₹225 | +39.8% | 166.94x | ₹211 ✓ |
| Travel Food Services | Mainboard | 14 Jul | ₹1,100 | ₹1,125 | +2.3% | 3.03x | ₹1,125 ✓ |
| Smarten Power Systems | SME | 14 Jul | ₹100 | ₹144 | +44.0% | 5.51x | ₹115 ✓ |
| Chemkart India | SME | 14 Jul | ₹248 | ₹250 | +0.8% | 5.91x | ₹251 ✗ |
| GLEN Industries | SME | 15 Jul | ₹97 | ₹157 | +61.9% | 260.28x | ₹152 ✓ |
| Asston Pharmaceuticals | SME | 16 Jul | ₹123 | ₹119 | −3.3% | 186.55x | ₹149 ✗ |
| CFF Fluid Control | SME | 16 Jul | ₹585 | ₹621 | +6.2% | 8.45x | ₹612 ✓ |
| Smartworks Coworking | Mainboard | 17 Jul | ₹407 | ₹435 | +6.9% | 13.92x | ₹432 ✓ |
| Anthem Biosciences | Mainboard | 21 Jul | ₹570 | ₹723.05 | +26.9% | 67.42x | ₹749 ✗ |
| Spunweb Nonwoven | SME | 21 Jul | ₹96 | ₹151 | +57.3% | 251.32x | ₹139 ✓ |
| Monika Alcobev | SME | 23 Jul | ₹286 | ₹288 | +0.7% | 4.08x | ₹286 ✓ |
| Swastika Castal | SME | 28 Jul | ₹65 | ₹67 | +3.1% | 5.08x | ₹65 ✓ |
| Savy Infra | SME | 28 Jul | ₹120 | ₹136.5 | +13.8% | 114.50x | ₹146 ✗ |
| Monarch Surveyors | SME | 29 Jul | ₹250 | ₹421.25 | +68.5% | 250.65x | ₹460 ✗ |
| GNG Electronics | Mainboard | 30 Jul | ₹237 | ₹355 | +49.8% | 150.21x | ₹327 ✓ |
| Indiqube Spaces | Mainboard | 30 Jul | ₹237 | ₹216 | −8.9% | 13.00x | ₹238 ✗ |
| TSC India | SME | 30 Jul | ₹70 | ₹68 | −2.9% | 73.21x | ₹78 ✗ |
| Brigade Hotel Ventures | Mainboard | 31 Jul | ₹90 | ₹81.1 | −9.9% | 4.76x | ₹90 ✗ |
✓ the listing price met or beat the grey market's estimate; ✗ it fell short.
Every listing since the tracker began is on the IPO performance page. GMP is an unofficial estimate, not a promise; see the disclaimer.