Initial Public Offerings (IPOs) remain one of the most exciting ways for investors to participate in a company’s growth journey from its early stages. In 2025, India has already witnessed 45+ IPOs, spanning sectors like infrastructure, technology, real estate, healthcare, and manufacturing. The IPO frenzy continues to draw retail and institutional investors alike, but it’s important to analyze the winners and losers to understand market sentiment and identify future opportunities.
What is an IPO and Market Activity in 2025
An Initial Public Offering (IPO) is a process where a private company offers its shares to the public for the first time, allowing investors to become shareholders and enabling the company to raise capital for growth, expansion, or debt reduction. IPOs often generate significant buzz in the stock market, attracting both retail and institutional investors seeking early-stage opportunities. From 1st January 2025 to 2nd September, 2025, the Indian stock market has seen 47 IPOs, indicating a robust pipeline and strong investor appetite for new listings this year.
Risks of Investing in IPOs
While IPOs can generate wealth, they are not risk-free. Here are key risks to watch out for:
- High volatility: IPO stocks often experience extreme price fluctuations after listing.
- Lack of historical data: Limited track record makes it tough to analyze fundamentals.
- Hype-driven valuations: Many IPOs are priced aggressively, leading to corrections later.
- Lock-in selling pressure: Post-lock-in periods, promoters and early investors may book profits.
- Market sentiment impact: Macro factors and sector trends heavily influence IPO performance.
How to Use This Analysis
This article is designed to help investors quickly evaluate recent IPOs by looking at both listing day performance and current price trends. Use the tables to identify:
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IPOs that have delivered strong returns and may still have growth potential.
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Stocks that performed well initially but have corrected, offering possible entry points.
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IPOs that remain weak, which may indicate caution or further research.
Combine this information with your own analysis of company fundamentals, financials, and market outlook before making investment decisions.
IPO Performance Tracker (Latest Data as of September 2, 2025)
Below is a complete tracker of 2025 IPOs with their issue price, listing day close, listing gains, and current price performance.
| Company Name | Listed On | Issue Price (₹) | Listing Day Close (₹) | Listing Gain (%) | Current Price (₹) | Profit/Loss (%) |
|---|---|---|---|---|---|---|
| Mangal Electrical Industries Ltd. | Aug 28 | 561 | 535.35 | -4.57% | 517.35 | -7.83% |
| Shreeji Shipping Global Ltd. | Aug 26 | 252 | 255.1 | 1.23% | 255.3 | 1.31% |
| Patel Retail Ltd. | Aug 26 | 255 | 287.7 | 12.82% | 260.35 | 2.1% |
| Gem Aromatics Ltd. | Aug 26 | 325 | 319.05 | -1.83% | 274.65 | -15.34% |
| Vikram Solar Ltd. | Aug 26 | 332 | 356.4 | 7.35% | 328.3 | -1.01% |
| Regaal Resources Ltd. | Aug 20 | 102 | 131.58 | 29% | 110.84 | 8.68% |
| BlueStone Jewellery & Lifestyle Ltd. | Aug 19 | 517 | 546 | 5.61% | 549.95 | 6.37% |
| Knowledge Realty Trust | Aug 18 | 100 | 106.24 | 6.24% | 107.19 | 7.19% |
| All Time Plastics Ltd. | Aug 14 | 275 | 283.3 | 3.02% | 305.25 | 10.93% |
| JSW Cement Ltd. | Aug 14 | 147 | 146.07 | -0.63% | 151.76 | 3.2% |
| Highway Infrastructure Ltd. | Aug 12 | 70 | 120.75 | 72.5% | 95.82 | 37.07% |
| Sri Lotus Developers & Realty Ltd. | Aug 6 | 150 | 195.67 | 30.45% | 181.46 | 20.9% |
| M&B Engineering Ltd. | Aug 6 | 385 | 408.65 | 6.14% | 434.6 | 12.48% |
| National Securities Depository Ltd. | Aug 6 | 800 | 936 | 17% | 1275.4 | 59.43% |
| Laxmi India Finance Ltd. | Aug 5 | 158 | 134.11 | -15.12% | 132.04 | -16.61% |
| Aditya Infotech Ltd. | Aug 5 | 675 | 1082.65 | 60.39% | 1248.2 | 84.65% |
| Property Share Investment Trust REIT | Aug 4 | 10,60,000 | 10,61,100 | 0.1% | 10,68,800 | 0.83% |
| Shanti Gold International Ltd. | Aug 1 | 199 | 229.38 | 15.27% | 224.84 | 13.07% |
| Brigade Hotel Ventures Ltd. | Jul 31 | 90 | 85.32 | -5.2% | 86.79 | -3.64% |
| Indiqube Spaces Ltd. | Jul 30 | 237 | 217.97 | -8.03% | 221.75 | -6.16% |
| GNG Electronics Ltd. | Jul 30 | 237 | 333.39 | 40.67% | 353.25 | 49.09% |
| Anthem Biosciences Ltd. | Jul 21 | 570 | 730.35 | 28.13% | 814.3 | 42.96% |
| Smartworks Coworking Spaces Ltd. | Jul 17 | 407 | 445.05 | 9.35% | 495.15 | 21.63% |
| Travel Food Services Ltd. | Jul 14 | 1100 | 1074.8 | -2.29% | 1254 | 14.05% |
| Crizac Ltd. | Jul 9 | 245 | 307.63 | 25.56% | 365.4 | 49.12% |
| Indogulf Cropsciences Ltd. | Jul 3 | 111 | 110.35 | -0.59% | 104.65 | -5.5% |
| HDB Financial Services Ltd. | Jul 2 | 740 | 840.95 | 13.64% | 779.7 | 5.4% |
| Sambhv Steel Tubes Ltd. | Jul 2 | 82 | 97.59 | 19.01% | 122.43 | 48.96% |
| Globe Civil Projects Ltd. | Jul 1 | 71 | 94.46 | 33.04% | 78.35 | 10.24% |
| Ellenbarrie Industrial Gases Ltd. | Jul 1 | 400 | 534.6 | 33.65% | 516.55 | 29.12% |
| Kalpataru Ltd. | Jul 1 | 414 | 432.95 | 4.58% | 393.7 | -5.06% |
| Arisinfra Solutions Ltd. | Jun 25 | 222 | 174.38 | -21.45% | 142.88 | -35.92% |
| Oswal Pumps Ltd. | Jun 20 | 614 | 625.35 | 1.85% | 828.05 | 34.82% |
| Scoda Tubes Ltd. | Jun 4 | 140 | 147 | 5% | 167.29 | 19.07% |
| Prostarm Info Systems Ltd. | Jun 3 | 105 | 126 | 20% | 191.4 | 82.57% |
| Aegis Vopak Terminals Ltd. | Jun 2 | 235 | 242 | 2.98% | 242.87 | 3.91% |
| Schloss Bangalore Ltd. | Jun 2 | 435 | 435.55 | 0.13% | 405.3 | -6.93% |
| Belrise Industries Ltd. | May 28 | 90 | 97.41 | 8.23% | 137.6 | 52.78% |
| Borana Weaves Ltd. | May 27 | 216 | 255.15 | 18.13% | 214.76 | -0.58% |
| Ather Energy Ltd. | May 6 | 321 | 302.3 | -5.83% | 486.8 | 51.56% |
| Quality Power Electrical Equipments Ltd. | Feb 24 | 425 | 387.9 | -8.73% | 809.8 | 90.55% |
| Hexaware Technologies Ltd. | Feb 19 | 708 | 762.55 | 7.7% | 750.3 | 5.97% |
| Ajax Engineering Ltd. | Feb 17 | 629 | 595.4 | -5.34% | 695.1 | 10.65% |
| Dr.Agarwal’s Health Care Ltd. | Feb 4 | 402 | 401.65 | -0.09% | 433.25 | 7.97% |
| Denta Water & Infra Solutions Ltd. | Jan 29 | 294 | 341.25 | 16.07% | 438.25 | 49.88% |
| Stallion India Fluorochemicals Ltd. | Jan 23 | 90 | 126 | 40% | 163.7 | 81.83% |
| Laxmi Dental Ltd. | Jan 20 | 428 | 550.55 | 28.63% | 339.95 | -20.49% |
| Capital Infra Trust | Jan 17 | 99 | 99.02 | 0.02% | 77.48 | -21.74% |
| Quadrant Future Tek Ltd. | Jan 14 | 290 | 444 | 53.1% | 428.55 | 47.86% |
| Standard Glass Lining Technology Ltd. | Jan 13 | 140 | 163.35 | 16.68% | 179.45 | 28.18% |
| Indo Farm Equipment Ltd. | Jan 7 | 215 | 277.8 | 29.21% | 236.02 | 9.88% |
Big Winners – Strong Performers from Listing to Date
| Company Name | Issue Price (₹) | Listing Gain (%) | Current Gain (%) |
|---|---|---|---|
| Quality Power Electrical Equipments Ltd. | 425 | -8.73% | 90.55% |
| Aditya Infotech Ltd. | 675 | 60.39% | 84.65% |
| Prostarm Info Systems Ltd. | 105 | 20% | 82.57% |
| Stallion India Fluorochemicals Ltd. | 90 | 40% | 81.83% |
| GNG Electronics Ltd. | 237 | 40.67% | 49.09% |
Listing Day Winners That Corrected Later
| Company Name | Issue Price (₹) | Listing Gain (%) | Current Gain (%) |
|---|---|---|---|
| Laxmi Dental Ltd. | 428 | 28.63% | -20.49% |
| Highway Infrastructure Ltd. | 70 | 72.5% | 37.07% |
| Crizac Ltd. | 245 | 25.56% | 49.12% |
| Borana Weaves Ltd. | 216 | 18.13% | -0.58% |
Consistent Losers – Weak Performance
| Company Name | Issue Price (₹) | Listing Gain (%) | Current Gain (%) |
|---|---|---|---|
| Capital Infra Trust | 99 | 0.02% | -21.74% |
| Arisinfra Solutions Ltd. | 222 | -21.45% | -35.92% |
| Laxmi India Finance Ltd. | 158 | -15.12% | -16.61% |
| Mangal Electrical Industries Ltd. | 561 | -4.57% | -7.83% |
What to Watch
- Prostarm Info Systems Ltd., Aditya Infotech Ltd., Quality Power Electrical Equipments Ltd., and Stallion India Fluorochemicals Ltd. remain strong growth plays despite big rallies.
- National Securities Depository Ltd. (NSDL) has seen sustained strength with ~59% returns, backed by strong fundamentals.
- GNG Electronics Ltd. and Crizac Ltd. are momentum-driven stories to track.
- Investors should be cautious with highly corrected IPOs (e.g., Laxmi Dental, Arisinfra Solutions) unless fundamentals improve.
Disclaimer: This article is for educational and informational purposes only and should not be considered as investment advice. IPO investments are subject to market risks, and past performance does not guarantee future results. Please consult a financial advisor or do your own research before making any investment decisions.
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