IPOs in September 2025: Listing Gains, GMP & Subscription
Monthly round-up
By IPO GMP Status desk · Updated 28 September 2025 · How we compile these figures
52 IPOs listed in September 2025 — 16 mainboard and 36 SME. The average listing gain was +11.3%, and 31 of 52 listed above their issue price. The best listing was Anondita Medicare at +90.0%. The grey market's estimate was met or beaten in 19 of 52.
IPOs listed in September 2025
| IPO | Type | Listed | Issue price | Listing price | Listing gain | Subscribed | GMP estimate |
|---|---|---|---|---|---|---|---|
| Anondita Medicare | SME | 1 Sep | ₹145 | ₹275.5 | +90.0% | 300.89x | ₹234 ✓ |
| Shivashrit Foods | SME | 1 Sep | ₹142 | ₹148.5 | +4.6% | 2.89x | ₹143 ✓ |
| Classic Electrodes | SME | 1 Sep | ₹87 | ₹100 | +14.9% | 179.97x | ₹109 ✗ |
| Globtier Infotech | SME | 2 Sep | ₹72 | ₹57.6 | −20.0% | 1.34x | ₹72 ✗ |
| NIS Management | SME | 2 Sep | ₹111 | ₹108 | −2.7% | 3.13x | ₹111 ✗ |
| Vikran Engineering | Mainboard | 3 Sep | ₹97 | ₹99 | +2.1% | 24.87x | ₹103.5 ✗ |
| Current Infraprojects | SME | 3 Sep | ₹80 | ₹152 | +90.0% | 379.44x | ₹130 ✓ |
| Sattva Engineering Construction | SME | 3 Sep | ₹75 | ₹95.1 | +26.8% | 198.17x | ₹99 ✗ |
| Oval Projects Engineering | SME | 4 Sep | ₹85 | ₹85.25 | +0.3% | 1.61x | ₹85 ✓ |
| Snehaa Organics | SME | 5 Sep | ₹122 | ₹122 | +0.0% | 27.75x | ₹124 ✗ |
| Sugs Lloyd | SME | 5 Sep | ₹123 | ₹119.9 | −2.5% | 3.23x | ₹124.5 ✗ |
| Abril Paper Tech | SME | 5 Sep | ₹61 | ₹48.8 | −20.0% | 11.20x | ₹64 ✗ |
| Rachit Prints | SME | 8 Sep | ₹149 | ₹119.2 | −20.0% | 1.97x | ₹149 ✗ |
| Amanta Healthcare | Mainboard | 9 Sep | ₹126 | ₹135 | +7.1% | 82.60x | ₹135 ✓ |
| Goel Construction | SME | 10 Sep | ₹263 | ₹329 | +25.1% | 124.34x | ₹313 ✓ |
| Optivalue Tek Consulting | SME | 10 Sep | ₹84 | ₹103.6 | +23.3% | 64.45x | ₹97 ✓ |
| Austere Systems | SME | 11 Sep | ₹55 | ₹75.55 | +37.4% | 1076.99x | ₹87 ✗ |
| Sharvaya Metals | SME | 12 Sep | ₹196 | ₹219 | +11.7% | 4.83x | ₹206 ✓ |
| Vigor Plast | SME | 12 Sep | ₹81 | ₹85 | +4.9% | 3.88x | ₹81 ✓ |
| Vashishtha Luxury Fashion | SME | 15 Sep | ₹111 | ₹118 | +6.3% | 2.18x | ₹119 ✗ |
| Taurian MPS | SME | 16 Sep | ₹171 | ₹210 | +22.8% | 11.69x | ₹185 ✓ |
| Karbonsteel Engineering | SME | 16 Sep | ₹159 | ₹185.1 | +16.4% | 76.59x | ₹184 ✓ |
| Nilachal Carbo Metalicks | SME | 16 Sep | ₹85 | ₹68 | −20.0% | 5.06x | ₹85 ✗ |
| Krupalu Metals | SME | 16 Sep | ₹72 | ₹57.6 | −20.0% | 2.96x | ₹72 ✗ |
| Urban Co. | Mainboard | 17 Sep | ₹103 | ₹162.25 | +57.5% | 108.98x | ₹154 ✓ |
| Dev Accelerator | Mainboard | 17 Sep | ₹61 | ₹61 | +0.0% | 64.00x | ₹67 ✗ |
| Shringar House of Mangalsutra | Mainboard | 17 Sep | ₹165 | ₹188.5 | +14.2% | 60.31x | ₹186 ✓ |
| Galaxy Medicare | SME | 17 Sep | ₹54 | ₹54 | +0.0% | 1.83x | ₹54 ✓ |
| Jay Ambe Supermarkets | SME | 17 Sep | ₹78 | ₹79 | +1.3% | 64.13x | ₹83 ✗ |
| Airfloa Rail Technology | SME | 18 Sep | ₹140 | ₹266 | +90.0% | 301.52x | ₹315 ✗ |
| L.T.Elevator | SME | 19 Sep | ₹78 | ₹136.1 | +74.5% | 182.95x | ₹121 ✓ |
| TechD Cybersecurity | SME | 22 Sep | ₹193 | ₹366.7 | +90.0% | 718.30x | ₹403 ✗ |
| Euro Pratik Sales | Mainboard | 23 Sep | ₹247 | ₹272.1 | +10.2% | 1.41x | ₹257 ✓ |
| VMS TMT | Mainboard | 24 Sep | ₹99 | ₹104.9 | +6.0% | 102.24x | ₹110 ✗ |
| Sampat Aluminium | SME | 24 Sep | ₹120 | ₹120 | +0.0% | 169.09x | ₹130.5 ✗ |
| Ivalue Infosolutions | Mainboard | 25 Sep | ₹299 | ₹284.95 | −4.7% | 1.82x | ₹299 ✗ |
| JD Cables | SME | 25 Sep | ₹152 | ₹160 | +5.3% | 127.78x | ₹173 ✗ |
| Saatvik Green Energy | Mainboard | 26 Sep | ₹465 | ₹465 | +0.0% | 6.93x | ₹475 ✗ |
| GK Energy | Mainboard | 26 Sep | ₹153 | ₹171 | +11.8% | 93.58x | ₹171 ✓ |
| Siddhi Cotspin | SME | 26 Sep | ₹108 | ₹86.4 | −20.0% | 4.21x | ₹108 ✗ |
| Prime Cable Industries | SME | 29 Sep | ₹83 | ₹81 | −2.4% | 8.28x | ₹81 ✓ |
| Atlanta Electricals | Mainboard | 29 Sep | ₹754 | ₹857 | +13.7% | 72.16x | ₹868 ✗ |
| Ganesh Consumer Products | Mainboard | 29 Sep | ₹322 | ₹296.05 | −8.1% | 2.68x | ₹313 ✗ |
| Seshaasai Technologies | Mainboard | 30 Sep | ₹423 | ₹432 | +2.1% | 69.64x | ₹463 ✗ |
| Anand Rathi Share | Mainboard | 30 Sep | ₹414 | ₹432 | +4.3% | 21.83x | ₹445 ✗ |
| Jaro Institute | Mainboard | 30 Sep | ₹890 | ₹890 | +0.0% | 23.20x | ₹933 ✗ |
| Solarworld Energy Solutions | Mainboard | 30 Sep | ₹351 | ₹388.5 | +10.7% | 68.49x | ₹391 ✗ |
| BharatRohan Airborne Innovations | SME | 30 Sep | ₹85 | ₹90 | +5.9% | 10.07x | ₹90 ✓ |
| Aptus Pharma | SME | 30 Sep | ₹70 | ₹32.32 | −53.8% | 22.27x | ₹74 ✗ |
| Matrix Geo Solutions | SME | 30 Sep | ₹104 | ₹103.9 | −0.1% | 7.69x | ₹113 ✗ |
| True Colors | SME | 30 Sep | ₹191 | ₹191 | +0.0% | 45.46x | ₹196 ✗ |
| Ecoline Exim | SME | 30 Sep | ₹141 | ₹140.85 | −0.1% | 6.06x | ₹141 ✗ |
✓ 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.