IPO Report and IPO Watch for 2025
By Admin | 01 Jan 2025 | 7 views
IPO Report for FY2025-2026 (9 Months / 3 Quarters of FY26) The Indian IPO market witnessed a busy season over the last three quarters of the financial year 2026. There were 96 mainboard IPO listings during 9MFY26 with fund raise of Rs 1,66,437.23 crores on NSE and BSE as compared to 71 IPOs during 9MFY25 and fund raise of Rs 1,64,898.49 crores. Of the IPOs listed, 64% listed with Gain while 24% listed in loss. The rest shows the listings at par.
IPO Report for FY2025-2026 (9 Months / 3 Quarters of FY26)
The Indian IPO market witnessed a busy season over the last three quarters of the financial year 2026. There were 96 mainboard IPO listings during 9MFY26 with fund raise of Rs 1,66,437.23 crores on NSE and BSE as compared to 71 IPOs during 9MFY25 and fund raise of Rs 1,64,898.49 crores. Of the IPOs listed, 64% listed with Gain while 24% listed in loss. The rest shows the listings at par.
NSE Emerge and BSE SME listings were also buoyant with 209 SME IPOs aggregating fund raise of Rs 9,392.45 crores during 9MFY26. Over the same period during 9MFY25 there were 191 SME IPOs with aggregate fund raise of Rs 7,603.18 crores. 62% of the SME IPOs listed with listing gains and 33% listed with listing loss. The rest shows the listings at par.
Mainboard and SME IPO performance snapshot for 9MFY25-26
Particulars | Mainboard | SME |
No. of IPOs | 96 | 209 |
Total Funds raised (Cr) | 1,66,437.23 | 9,392.45 |
Average Listing gains | 6.18% | 10.81% |
IPOs listed in gai | 61 | 130 |
IPOs listed in los | 23 | 68 |
Top 5 Mainboard IPO by current market performance compared to offer price (9MFY25-26)
Among the top gainers, Aditya Infotech IPO has the highest current market gains of 123% over its Issue price followed by Ather Energy IPO and Belrise IPO with respective gains of 121% and 99%. FY26 also saw listings of new age e-commerce companies like Meesho IPO raising Rs 5421.20 crores from the primary markets.
Name of IPO | Offer Price (Rs per share) | CMP as on 26th Dec 2025 | CMP Gain |
|---|---|---|---|
Aditya Infotech Limited | 675 | 1,502.8 | 123% |
Ather Energy Limited | 321 | 709.95 | 121% |
Belrise Industries Limited | 90 | 179.39 | 99% |
Meesho Limited | 111 | 197.84 | 78% |
Jain Resource Recycling Limited | 232 | 412.25 | 78% |
Top 5 SME IPO by current market performance (9MFY26)
Anondita Medicare SME IPO was the biggest gainer on the SME platform listed on NSE Emerge with current market gains of 528%. Tank up Engineers emerged as second second-best performer with stock up by 405% since its listing on NSE Emerge. Cryogenic OGS IPO (with knowledge partners and IPO assisted by ipoplatform.com) also resulted in wealth creation for its investors with 260% gain over its offer price of Rs 140, listed on BSE SME.
Name of IPO | Offer Price | CMP as on | CMP Gain |
Anondita Medicare Limited | 145.00 | 910.35 | 528.00% |
Tankup Engineers Limited | 140.00 | 707.00 | 405.00% |
Cryogenic OGS Limited | 47 | 169 | 260% |
Monolithisch India Limited | 143.00 | 511.55 | 258.00% |
Zelio E-Mobility Limited | 136.00 | 456.35 | 236.00% |
Below is the list of highly subscribed IPO on Mainboard and SME exchanges during 9MFY26.
Top 5 IPO by IPO subscription- Highly subscribed IPOs in FY25-26
Name of Mainboard IPO | IPO Subscription (x) | Name of SME IPO | IPO Subscription (x) |
Highway Infrastructure Limited | 316.6 | Austere Systems Limited | 1076.99 |
Regal Resources Limited | 159.87 | Shyam Dhani Industries Limited | 988.29 |
GNG Electronics Limited | 150.21 | Exato Technologies Limited | 947.21 |
Borana Weaves Limited | 144.54 | TechD cybersecurity Limited | 718.3 |
Corona Remedies Limited | 109.35 | Cryogenic OGS Limited | 694.9 |
Sector Update for 9MFY26- The financial year 2026 has seen companies from various sectors that have raised funds from the primary markets. For the Mainboard IPO, Banking and finance sector accounted for 33% of total fund raise. Engineering sector raised Rs 8248.65 crores followed by Pharmaceutical companies and e-commerce and online service providers like Lenskart IPO and Meesho IPO.
No. of Mainboard IPOs by Sector | Total Fund raised |
Engineering (7) | 8,248.65 |
Healthcare (2) | 1,791.05 |
Information Technology (3) | 1,937.79 |
Infrastructure (6) | 2,614.71 |
Banking and Finance (10) | 56,296.79 |
Logistics (3) | 840.02 |
Pharmaceutical (6) | 6,569.9 |
E-commerce (1) | 5,421.2 |
Online Service Provider (1) | 1,900 |
Amongst the listings on BSE SME and NSE Emerge, the Information Technology sector saw funding of Rs 1021.78 crores from the primary markets. Engineering companies raised Rs 629.99 crores by listing on exchanges followed by other sectors like Infrastructure, Logistics and Agro.
SME
| |
|---|---|
Top Sectors | Total Fund Raised |
Engineering (17) | 629.99 |
Healthcare (9) | 451.01 |
Information Technology (21) | 1,021.78 |
Infrastructure (9) | 401.28 |
Banking and Finance (1) | 25.66 |
Logistics (10) | 337.29 |
Agro (11) | 381.53 |
Jewellery (5) | 154.49 |
Plastic and Polymer (8) | 285.21 |
IPO Key Highlights of the December 2025
- 13 Companies have filed DRHP on the SME platform with recognized Stock Exchanges such as :
- 9 Companies have filed DRHPs with BSE SME exchange and,
- 4 Companies have filed DRHPs with NSE Emerge.
- 15 Companies filed DRHP (Mainboard) with SEBI.
- 41 Listings in December 2025 through NSE Emerge and BSE SME.
- 10 listings on NSE and BSE stock Exchanges Listings.
- New IPO to open in 1st week of January 2026:
- Gabion Technologies India IPO
13 DRHP (Draft Red Herring Prospectus) were filed on the SME platform in December 2025. The filings include 9 DRHP filings with the BSE SME exchange and 4 DRHP filings with NSE Emerge of the SME platform of India. Additionally, 41 SME IPO listings were seen in December 2025.
15 DRHP filings were seen on the Mainboard platform on NSE and BSE in December 2025. Also, 10 Mainboard IPO listings were noticed in December 2025.
IPO Report on ipoplatform.com provides information to identify:
Upcoming IPO- DRHP filings and tracking DRHP status (whether DRHP approved, under process or returned) provides early-stage signals for anchor investors and for retail investors.
Sectoral Trends- An investor can identify and analyze the IPO activity in a particular sector.
Geographical Insights- Tracking the city-wise IPO assists in identifying the emerging start-up hubs and the growing companies in the SME segment.
Merchant Bankers in India- Assist in analyzing the top merchant bankers in Initial Public Offer market in India. An investor can analyze information on the basis of funds raised by merchant bankers, performance of merchant bankers by listing gains and market performance.
This data offers investors a valuable look at upcoming IPOs, helping them spot opportunities based on sectors, cities, and merchant bankers. Platforms like ipoplatform.com provide real-time updates, ensuring investors stay informed and ready to capitalize on the next big opportunity. With detailed IPO listings, sector insights, and expert advice,IPO Advisors make it easier for investors to make confident, data-driven decisions.
List of Upcoming SME IPOs whose DRHPs are filed with BSE SME Exchange in December 2025
| Name | Revenue | PAT | City | Merchant Banker | Sector |
|---|---|---|---|---|---|
| Vahh Chemicals IPO | 16.52 | 2.07 | Surat | Marwadi Chandarana Intermediaries Brokers Private Limited | Textiles |
| Peshwa Wheat IPO | 228.93 | 16.35 | Indore | Finaax Capital Advisors Private Limited | Agro - Food Products |
| NTL India IPO | 39.81 | 2.60 | Kanchipuram | Cumulative Capital Private Limited | Corporate Solutions |
| Mother Agri Food IPO | 156.24 | 5.96 | Rajkot | Finshore Management Services Limited | Agro |
| Aureate Tradde IPO | 836.00 | 4.48 | Mumbai | Corporate Capital Ventures Private Limited | Electric Equipments |
| Yaashvi Jewellers IPO | 62.65 | 3.54 | Jaipur | Smart Horizon Capital Advisors Private Limited | Jewellery |
| Silverstorm Parks and Resorts IPO | 13.11 | 4.15 | Thrissur | Vivro Financial Services Private Limited | Travel and Tourism |
| Recode Studios IPO | 19.78 | 2.34 | Ludhiana | Seren Capital Private Limited | Cosmetic |
| Taldar Hotels and Resorts IPO | 8.10 | 1.17 | Udaipur | Socradamus Capital Private Limited | Hotels and Resorts |
List of Upcoming SME IPOs whose DRHPs are filed with NSE Emerge in December 2025
| Name | Revenue | PAT | City | Merchant Banker | Sector |
|---|---|---|---|---|---|
| GenxAI Analytics IPO | 68.64 | 8.32 | Jaipur | Choice Capital Advisors Private Limited | Information Technology |
| Vinit Mobile IPO | 72.36 | 4.00 | Surat | Comfort Securities Limited | Retail |
| Papadmalji Agro Foods IPO | 8.09 | 1.80 | Bikaner | Kreo Capital Private Limited | Agro |
| Submarine Pens IPO | 10.66 | 1.39 | Mumbai | Smart Horizon Capital Advisors Private Limited | Paper and Stationery |
List of Upcoming Mainboard IPOs whose DRHPs are filed with SEBI in December 2025
| Name | Revenue | PAT | City | Merchant Banker | Sector |
|---|---|---|---|---|---|
| Shiprocket IPO | 1885.34 | -76.44 | New Delhi | Axis Capital Limited, Bofa Securities India Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited | Logistics |
| Jindal Supreme (India) IPO | 685.48 | 25.20 | Hisar | Sarthi Capital Advisors Private Limited | Steel - Tubes and Pipes |
| Aspri Spirits IPO | 478.24 | 39.36 | Mumbai | Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited | Liquor and Distilleries |
| Shivganga Drillers IPO | 390.92 | 83.12 | Indore | Aryaman Financial Services Limited | Engineering |
| Sonaselection India IPO | 416.92 | 19.20 | Bhilwara | Choice Capital Advisors Private Limited | Textiles - Fabrics |
| Renny Strips IPO | 975.74 | 47.56 | Ludhiana | Pantomath Capital Advisors Private Limited | Steel - Tubes and Pipes |
| Travelstack Tech IPO | 800.74 | 64.32 | New Delhi | IIFL Securities Limited, Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited | Travel and Tourism |
| Symbiotec Pharmalab IPO | 812.68 | 119.68 | Indore | Avendus Capital Private Limited, Jm Financial Limited, Motilal Oswal Investment Advisors Limited, Nomura Financial Advisory And Securities (India) Private Limited | Pharmaceutical |
| Tonbo Imaging India IPO | 274.72 | 21.72 | Bengaluru | IIFL Securities Limited, Jm Financial Limited | Defence |
| Yatayat Corporation India IPO | 478.72 | 31.32 | Ahmedabad | Unistone Capital Private Limited | Logistics |
| SS Retail IPO | 1990.96 | 59.44 | Mumbai | Anand Rathi Securities Limited, Emkay Global Financial Services Limited | Retail |
| Wog Technologies IPO | 1652.24 | 387.00 | New Delhi | Unistone Capital Private Limited | Engineering |
| Horizon Industrial Parks IPO | 514.48 | -230.56 | Mumbai | Axis Capital Limited, IIFL Securities Limited, Jm Financial Limited, SBI Capital Markets Limited, 360 ONE WAM Limited | Logistics |
| Deepa Jewellers IPO | 1642.38 | 97.22 | Hyderabad | Emkay Global Financial Services Limited | Jewellery |
| Neolite Zkw Lightings IPO | 499.40 | 89.04 | New Delhi | Systematix Corporate Services Limited, Anand Rathi Securities Limited | Electric Equipments - OEM |
Details of all Listed Companies in December 2025
| Exchange | Listed Companies | Total Fund Raise (₹ Cr) |
|---|---|---|
| NSE EMERGE | 14 | 646.03 |
| BSE SME | 27 | 1,045.22 |
| MainBoard | 10 | 21,976.78 |
IPOs to be open in first week of January 2026
| Name | Revenue | PAT | City | Merchant Banker | Sector |
|---|---|---|---|---|---|
| Gabion Technologies India IPO | 90.63 | 6.45 | New Delhi | GYR Capital Advisors Private Limited | Steel |
This data offers investors a valuable look at upcoming IPOs, helping them spot opportunities based on sectors, cities, and merchant bankers. Platforms like ipoplatform.com provide real-time updates, ensuring investors stay informed and ready to capitalize on the next big opportunity. With detailed IPO listings, sector insights, and expert advice,IPO Advisors make it easier for investors to make confident, data-driven decisions.
What is the role of IPO Advisors in listing of an IPO?
IPO Advisors and IPO Consultants play a crucial role in guiding companies through the process of listing an Initial Public Offering (IPO). Their primary responsibility includes:
Ensuring IPO Eligibility- Assess whether the company meets the IPO eligibility requirements set by regulatory authorities and stock exchanges such as BSE SME and NSE Emerge. Explore SME E-book for IPO eligibility.
Regulatory compliances and Data Room- Coordinating with the company and ensure all legal and financial disclosures are accurate and compliant for IPO purposes. Creating a data room for smooth exchange of information.
Collaboration with the merchant bankers- Backed by insightful data, ipoplatfom.com assist in choosing the best lead manager (BRLM) basis their IPO performance, history and sector participation.
Investor Outreach and Valuation strategy- Positioning the company attractively to investors thus assisting in investor outreach and valuation strategies.
Drafting key documents- They assist in drafting the Draft Red Herring Prospectus (DRHP), coordinating, facilitating due diligence and other regulations.
Understanding the IPO (Initial Public Offering) landscape is crucial for investors aiming to make informed, strategic decisions. Real-time IPO data on upcoming IPO is a key indicator of market momentum, and the number of Draft Red Herring Prospectus (DRHP) filing provides early signals of companies preparing to go public. Tracking these filings, along with IPO listings and the sectors they represent, gives investors a significant edge in identifying promising opportunities ahead of time. With the right data, investors can stay ahead of the curve, ensuring they don’t miss out on the best IPO and can optimize their investment strategies for better returns.
Conclusion: Unlocking Opportunities with IPO 2025
The IPO market in December 2025 has started with strong momentum, with 28 companies filing their DRHPs across BSE SME, NSE Emerge, and the Mainboard. With 41 SME IPO listings and 10 Mainboard Listings along with several upcoming IPOs in the next month, investors have numerous opportunities to explore.
IPO Advisors play a crucial role in streamlining the IPO listing process for companies looking to go public. From compliance with regulatory requirements to selecting the right Merchant Bankers, these experts ensure a smooth transition into the capital markets. Platforms like ipoplatform.com provide real-time updates, expert insights, and necessary guidance to help companies and investors make informed decisions.
As we move further into the SME IPO and Mainboard IPO 2025, staying updated on upcoming IPOs and analyzing key financials can help investors capitalize on high-growth opportunities. With strategic planning and expert guidance, both businesses and investors can unlock the full potential of the IPO market in 2025.
It's worth noting that investors should track IPO review, assess post-listing performance, and evaluate the merchant banker's history for investments in IPO. A well-researched IPO strategy can deliver long-term portfolio benefits.
