Mainboard IPO Performance in India – 2024
- Key Statistics
- Current Performance:
- Top 5 IPOs by Listing Day Gains
- Top 5 IPOs by Current Price Performance
- Month wise IPO listings
- Performance of all 2024 listed IPO’s based on close price as on 9th January 2025
- Frequently Asked Questions
The Indian Mainboard IPO market in 2024 saw 93 listings, with 74 delivering positive listing day gains and 65 still trading above their issue prices. That’s almost a 80% win rate (same as 2023). 2024 can be recorded as the year of IPO’s with 50% more IPO’s being listed (93) compared to 2023 where 60 IPO’s got listed. That’s an average of about 8 IPO’s every month.
The top performers included Vibhor Steel Tubes and Jyoti CNC Automation, which recorded over 195% and 296% returns respectively. Overall, the market showed robust investor enthusiasm and strong post-listing performance. Below is a detailed summary of IPO performances on the Mainboard in India during 2024. Current price is based on closing price recorded on 9th January 2025.
Data in this article is as on 9 January 2025 and is for illustration only. Please check current figures before investing.
💡 Quick Answer
India’s mainboard IPO market saw 93 listings in 2024, of which 74 closed their listing day in the green and 65 were still above their issue price as on 9 January 2025. That is close to an 80% listing-day win rate, and an average of about eight IPOs a month.
Key Statistics
- Total IPOs: 93
- Positive Listing Day Gains: 74
- Negative Listing Day Gains: 19
Current Performance:
- Positive Closing Prices: 65
- Negative Closing Prices: 28
Top 5 IPOs by Listing Day Gains
Top 5 IPOs by Current Price Performance
Month wise IPO listings
| Month | No. of IPO Listings in 2024 | No. of IPO Listings in 2023 |
|---|---|---|
| January | 4 | 2 |
| February | 9 | 5 |
| March | 9 | 4 |
| April | 4 | 2 |
| May | 5 | 1 |
| June | 5 | 1 |
| July | 5 | 6 |
| August | 8 | 5 |
| September | 13 | 8 |
| October | 7 | 6 |
| November | 8 | 7 |
| December | 16 | 13 |
| Total | 93 | 60 |
Overall good listing gains were seen for IPO’s listed in December 24. The SME segment is counted separately, and the two boards differ in listing rules and lot sizes.
| Company Name | Listed On | Issue Price | Listing Day Close | Listing Day Gain (%) | Current Price | Profit/Loss (%) |
|---|---|---|---|---|---|---|
| Unimech Aerospace & Manufacturing Ltd | 2024-12-31 | ₹785 | ₹1376.25 | 75.32% | ₹1299.15 | 65.5% |
| Carraro India Ltd | 2024-12-30 | ₹704 | ₹636.2 | -9.63% | ₹621.4 | -11.73% |
| Ventive Hospitality Ltd | 2024-12-30 | ₹643 | ₹704.35 | 9.54% | ₹716.15 | 11.38% |
| Senores Pharmaceuticals Ltd | 2024-12-30 | ₹391 | ₹557.8 | 42.66% | ₹530.8 | 35.75% |
| Sanathan Textiles Ltd | 2024-12-27 | ₹321 | ₹388.35 | 20.98% | ₹353.55 | 10.14% |
| Transrail Lighting Ltd | 2024-12-27 | ₹432 | ₹553.55 | 28.14% | ₹676 | 56.48% |
| Concord Enviro Systems Ltd | 2024-12-27 | ₹701 | ₹827.1 | 17.99% | ₹743.65 | 6.08% |
| Mamata Machinery Ltd | 2024-12-27 | ₹243 | ₹630 | 159.26% | ₹477.25 | 96.4% |
| DAM Capital Advisors Ltd | 2024-12-27 | ₹283 | ₹415.1 | 46.68% | ₹381.8 | 34.91% |
| International Gemmological Institute Ltd | 2024-12-20 | ₹417 | ₹471.15 | 12.99% | ₹602.4 | 44.46% |
| Inventurus Knowledge Solutions Ltd | 2024-12-19 | ₹1329 | ₹1885.8 | 41.9% | ₹1953.5 | 46.99% |
| One Mobikwik Systems Ltd | 2024-12-18 | ₹279 | ₹528 | 89.25% | ₹573 | 105.38% |
| Sai Life Sciences Ltd | 2024-12-18 | ₹549 | ₹764.65 | 39.28% | ₹728.8 | 32.75% |
| Vishal Mega Mart Ltd | 2024-12-18 | ₹78 | ₹111.93 | 43.5% | ₹110.85 | 42.12% |
Performance of all 2024 listed IPO’s based on close price as on 9th January 2025
| Company Name | Listed On | Issue Price | Listing Day Close | Listing Day Gain | Current Price | Profit/Loss % |
|---|---|---|---|---|---|---|
| Jyoti CNC Automation Limited | Tue, Jan 16, 2024 | ₹331 | ₹434.2 | 31.18% | 1313.65 | 296.87% |
| KRN Heat Exchanger and Refrigeration Limited | Thu, Oct 3, 2024 | ₹220 | ₹478.79 | 117.63% | 730.75 | 232.16% |
| Orient Technologies Limited | Wed, Aug 28, 2024 | ₹206 | ₹302.4 | 46.80% | 572.65 | 177.99% |
| Premier Energies Limited | Tue, Sep 3, 2024 | ₹450 | ₹839.9 | 86.64% | 1210.95 | 169.10% |
| EPACK Durable Limited | Tue, Jan 30, 2024 | ₹230 | ₹207.6 | -9.74% | 597.1 | 159.61% |
| Bharti Hexacom Limited | Fri, Apr 12, 2024 | ₹570 | ₹813.3 | 42.68% | 1474.7 | 158.72% |
| Platinum Industries Limited | Tue, Mar 5, 2024 | ₹171 | ₹221.2 | 29.36% | 400.05 | 133.95% |
| Gala Precision Engineering Limited | Mon, Sep 9, 2024 | ₹529 | ₹757.15 | 43.13% | 1223.15 | 131.22% |
| One Mobikwik Systems Limited | Wed, Dec 18, 2024 | ₹279 | ₹528 | 89.25% | 573 | 105.38% |
| Enviro Infra Engineers Limited | Fri, Nov 29, 2024 | ₹148 | ₹207.07 | 39.91% | 294.4 | 98.92% |
| Mamata Machinery Limited | Fri, Dec 27, 2024 | ₹243 | ₹630 | 159.26% | 477.25 | 96.40% |
| Awfis Space Solutions Limited | Thu, May 30, 2024 | ₹383 | ₹402.95 | 5.21% | 740 | 93.21% |
| Diffusion Engineers Limited | Fri, Oct 4, 2024 | ₹168 | ₹203.17 | 20.93% | 324.2 | 92.98% |
| TBO Tek Limited | Wed, May 15, 2024 | ₹920 | ₹1406.3 | 52.86% | 1742.55 | 89.41% |
| Interarch Building Products Limited | Mon, Aug 26, 2024 | ₹900 | ₹1196.45 | 32.94% | 1684.9 | 87.21% |
| Exicom Tele-Systems Limited | Tue, Mar 5, 2024 | ₹142 | ₹224.95 | 58.42% | 262.75 | 85.04% |
| SRM Contractors Limited | Wed, Apr 3, 2024 | ₹210 | ₹226 | 7.62% | 377.65 | 79.83% |
| JG Chemicals Limited | Wed, Mar 13, 2024 | ₹221 | ₹184.8 | -16.38% | 389.25 | 76.13% |
| Waaree Energies Limited | Mon, Oct 28, 2024 | ₹1503 | ₹2338.9 | 55.62% | 2599.2 | 72.93% |
| Bajaj Housing Finance Limited | Mon, Sep 16, 2024 | ₹70 | ₹165 | 135.71% | 120.9 | 72.71% |
| Bansal Wire Industries Limited | Wed, Jul 10, 2024 | ₹256 | ₹350.35 | 36.86% | 438.8 | 71.41% |
| Sagility India Limited | Tue, Nov 12, 2024 | ₹30 | ₹29.32 | -2.27% | 51.09 | 70.30% |
| Le Travenues Technology Ltd | Tue, Jun 18, 2024 | ₹93 | ₹165.72 | 78.19% | 157.95 | 69.84% |
| Unimech Aerospace and Manufacturing Limited | Tue, Dec 31, 2024 | ₹785 | ₹1376.25 | 75.32% | 1299.15 | 65.50% |
| Nova AgriTech Limited | Wed, Jan 31, 2024 | ₹41 | ₹57.75 | 40.85% | 64.42 | 57.12% |
| Transrail Lighting Limited | Fri, Dec 27, 2024 | ₹432 | ₹553.55 | 28.14% | 676 | 56.48% |
| BLS E-Services Limited | Tue, Feb 6, 2024 | ₹135 | ₹366 | 171.11% | 206.3 | 52.81% |
| Allied Blenders and Distillers Limited | Tue, Jul 2, 2024 | ₹281 | ₹317.9 | 13.13% | 427.6 | 52.17% |
| Unicommerce eSolutions Limited | Tue, Aug 13, 2024 | ₹108 | ₹210.08 | 94.52% | 163.8 | 51.67% |
| Zinka Logistics Solution Limited | Fri, Nov 22, 2024 | ₹273 | ₹260.2 | -4.69% | 409.15 | 49.87% |
| JNK India Limited | Tue, Apr 30, 2024 | ₹415 | ₹694.55 | 67.36% | 611.85 | 47.43% |
| Inventurus Knowledge Solutions Limited | Thu, Dec 19, 2024 | ₹1329 | ₹1885.8 | 41.90% | 1953.5 | 46.99% |
| Garuda Construction and Engineering Limited | Tue, Oct 15, 2024 | ₹95 | ₹106.36 | 11.96% | 138.3 | 45.58% |
| Medi Assist Healthcare Services Limited | Tue, Jan 23, 2024 | ₹418 | ₹464.1 | 11.03% | 604.7 | 44.67% |
| DEE Development Engineers Limited | Wed, Jun 26, 2024 | ₹203 | ₹335.32 | 65.18% | 293.5 | 44.58% |
| International Gemmological Institute (India) Limited | Fri, Dec 20, 2024 | ₹417 | ₹471.15 | 12.99% | 602.4 | 44.46% |
| Kronox Lab Sciences Limited | Mon, Jun 10, 2024 | ₹136 | ₹151.35 | 11.29% | 196.45 | 44.45% |
| Emcure Pharmaceuticals Limited | Wed, Jul 10, 2024 | ₹1008 | ₹1359.15 | 34.84% | 1433.1 | 42.17% |
| Vishal Mega Mart Limited | Wed, Dec 18, 2024 | ₹78 | ₹111.93 | 43.50% | 110.85 | 42.12% |
| Indegene Limited | Mon, May 13, 2024 | ₹452 | ₹570.9 | 26.31% | 628.8 | 39.12% |
| Vibhor Steel Tubes Limited | Tue, Feb 20, 2024 | ₹151 | ₹446.25 | 195.53% | 210.05 | 39.11% |
| P N Gadgil Jewellers Limited | Tue, Sep 17, 2024 | ₹480 | ₹793.3 | 65.27% | 662.45 | 38.01% |
| Arkade Developers Limited | Tue, Sep 24, 2024 | ₹128 | ₹165.86 | 29.58% | 174 | 35.94% |
| Senores Pharmaceuticals Limited | Mon, Dec 30, 2024 | ₹391 | ₹557.8 | 42.66% | 530.8 | 35.75% |
| DAM Capital Advisors Limited | Fri, Dec 27, 2024 | ₹283 | ₹415.1 | 46.68% | 381.8 | 34.91% |
| Mukka Proteins Limited | Thu, Mar 7, 2024 | ₹28 | ₹42.25 | 50.89% | 37.58 | 34.21% |
| Aadhar Housing Finance Limited | Wed, May 15, 2024 | ₹315 | ₹329.45 | 4.59% | 422.65 | 34.17% |
| Sai Life Sciences Limited | Wed, Dec 18, 2024 | ₹549 | ₹764.65 | 39.28% | 728.8 | 32.75% |
| Swiggy Limited | Wed, Nov 13, 2024 | ₹390 | ₹456 | 16.92% | 507.6 | 30.15% |
| Manba Finance Limited | Mon, Sep 30, 2024 | ₹120 | ₹157.45 | 31.21% | 154.15 | 28.46% |
| Apeejay Surrendra Park Hotels Limited | Mon, Feb 12, 2024 | ₹155 | ₹203.55 | 31.32% | 198.75 | 28.23% |
| Sanstar Limited | Fri, Jul 26, 2024 | ₹95 | ₹115.07 | 21.13% | 118.05 | 24.26% |
| Rashi Peripherals Limited | Wed, Feb 14, 2024 | ₹311 | ₹321.5 | 3.38% | 379.9 | 22.15% |
| Brainbees Solutions Limited | Tue, Aug 13, 2024 | ₹465 | ₹679.1 | 46.04% | 553.75 | 19.09% |
| Entero Healthcare Solutions Limited | Fri, Feb 16, 2024 | ₹1258 | ₹1149.55 | -8.62% | 1446.6 | 14.99% |
| Bharat Highways Infrastructure Investment Trust | Tue, Mar 12, 2024 | ₹100 | ₹103.05 | 3.05% | 113.02 | 13.02% |
| NTPC Green Energy Limited | Wed, Nov 27, 2024 | ₹108 | ₹121.65 | 12.64% | 120.9 | 11.94% |
| Afcons Infrastructure Limited | Mon, Nov 4, 2024 | ₹463 | ₹474.2 | 2.42% | 517.15 | 11.70% |
| Ventive Hospitality Limited | Mon, Dec 30, 2024 | ₹643 | ₹704.35 | 9.54% | 716.15 | 11.38% |
| Sanathan Textiles Limited | Fri, Dec 27, 2024 | ₹321 | ₹388.35 | 20.98% | 353.55 | 10.14% |
| Go Digit General Insurance Limited | Thu, May 23, 2024 | ₹272 | ₹306 | 12.50% | 297.35 | 9.32% |
| Stanley Lifestyles Limited | Fri, Jun 28, 2024 | ₹369 | ₹474.75 | 28.66% | 396.85 | 7.55% |
| Concord Enviro Systems Limited | Fri, Dec 27, 2024 | ₹701 | ₹827.1 | 17.99% | 743.65 | 6.08% |
| Niva Bupa Health Insurance Company Limited | Thu, Nov 14, 2024 | ₹74 | ₹74 | 0% | 77.95 | 5.34% |
| Vraj Iron and Steel Limited | Wed, Jul 3, 2024 | ₹207 | ₹252 | 21.74% | 211.75 | 2.29% |
| Ola Electric Mobility Limited | Fri, Aug 9, 2024 | ₹76 | ₹91.2 | 20% | 75.65 | -0.46% |
| Jana Small Finance Bank Limited | Wed, Feb 14, 2024 | ₹414 | ₹368.15 | -11.07% | 403.8 | -2.46% |
| Krystal Integrated Services Limited | Thu, Mar 21, 2024 | ₹715 | ₹712.85 | -0.30% | 687.9 | -3.79% |
| GPT Healthcare Limited | Thu, Feb 29, 2024 | ₹186 | ₹200.7 | 7.90% | 177.7 | -4.46% |
| Juniper Hotels Limited | Wed, Feb 28, 2024 | ₹360 | ₹401.5 | 11.53% | 331.45 | -7.93% |
| Hyundai Motor India Limited | Tue, Oct 22, 2024 | ₹1960 | ₹1819.6 | -7.16% | 1784.6 | -8.95% |
| Akums Drugs and Pharmaceuticals Limited | Tue, Aug 6, 2024 | ₹679 | ₹796.25 | 17.27% | 618 | -8.98% |
| Deepak Builders & Engineers India Limited | Mon, Oct 28, 2024 | ₹203 | ₹161.95 | -20.22% | 183.7 | -9.51% |
| R K SWAMY Limited | Tue, Mar 12, 2024 | ₹288 | ₹262.6 | -8.82% | 259.95 | -9.74% |
| Tolins Tyres Limited | Mon, Sep 16, 2024 | ₹226 | ₹239.4 | 5.93% | 200.75 | -11.17% |
| Carraro India Limited | Mon, Dec 30, 2024 | ₹704 | ₹636.2 | -9.63% | 621.4 | -11.73% |
| Gopal Snacks Limited | Thu, Mar 14, 2024 | ₹401 | ₹362.7 | -9.55% | 352.8 | -12.02% |
| Kross Limited | Mon, Sep 16, 2024 | ₹240 | ₹259.81 | 8.25% | 203.95 | -15.02% |
| Northern Arc Capital Limited | Tue, Sep 24, 2024 | ₹263 | ₹323.4 | 22.97% | 220.7 | -16.08% |
| Suraksha Diagnostic Limited | Fri, Dec 6, 2024 | ₹441 | ₹441 | 0% | 363.85 | -17.49% |
| Shree Tirupati Balajee Agro Trading Company Limited | Thu, Sep 12, 2024 | ₹83 | ₹94.5 | 13.86% | 68.45 | -17.53% |
| Ceigall India Limited | Thu, Aug 8, 2024 | ₹401 | ₹386.75 | -3.55% | 330.65 | -17.54% |
| ACME Solar Holdings Limited | Wed, Nov 13, 2024 | ₹289 | ₹253.15 | -12.40% | 238.1 | -17.61% |
| Godavari Biorefineries Limited | Wed, Oct 30, 2024 | ₹352 | ₹343.2 | -2.50% | 288.6 | -18.01% |
| Baazar Style Retail Limited | Fri, Sep 6, 2024 | ₹389 | ₹400 | 2.83% | 317.4 | -18.41% |
| ECOS (India) Mobility & Hospitality Limited | Wed, Sep 4, 2024 | ₹334 | ₹443.15 | 32.68% | 263.15 | -21.21% |
| Saraswati Saree Depot Limited | Tue, Aug 20, 2024 | ₹160 | ₹203.7 | 27.31% | 124 | -22.50% |
| Vodafone Idea Limited | Thu, Apr 25, 2024 | ₹11 | ₹13.9 | 26.36% | 7.93 | -27.91% |
| Capital Small Finance Bank Limited | Wed, Feb 14, 2024 | ₹468 | ₹435 | -7.05% | 308.1 | -34.17% |
| Western Carriers (India) Limited | Tue, Sep 24, 2024 | ₹172 | ₹159.44 | -7.30% | 112.75 | -34.45% |
| Akme Fintrade India Ltd | Wed, Jun 26, 2024 | ₹120 | ₹133.35 | 11.12% | 76.86 | -35.95% |
| Popular Vehicles & Services Limited | Tue, Mar 19, 2024 | ₹295 | ₹276.15 | -6.39% | 157.1 | -46.75% |
Key Takeaways
- India recorded 93 mainboard IPO listings in 2024, against 60 in 2023.
- 74 of the 93 delivered positive listing day gains and 19 closed the listing day lower.
- As on 9 January 2025, 65 were trading above their issue price and 28 below it.
- Vibhor Steel Tubes and Jyoti CNC Automation were the standout performers, recording over 195% and 296% returns respectively.
- All prices, gains and counts on this page are a snapshot as on 9 January 2025 and will have changed since.
Frequently Asked Questions
How many mainboard IPOs listed in India in 2024?
The Indian mainboard IPO market saw 93 listings in 2024, compared with 60 in 2023. That works out to an average of about eight IPOs every month.
How many 2024 mainboard IPOs gained on listing day?
74 of the 93 mainboard IPOs delivered positive listing day gains and 19 closed lower, which is close to an 80% listing-day win rate.
How many 2024 IPOs were still above their issue price?
65 of the 93 were trading above their issue price and 28 below it, based on closing prices recorded on 9 January 2025. These figures are a snapshot as on that date and will have changed since.
Which were the best performing mainboard IPOs of 2024?
The top performers included Vibhor Steel Tubes and Jyoti CNC Automation, which recorded over 195% and 296% returns respectively, measured against the 9 January 2025 close.
How did 2024 compare with 2023 for mainboard IPOs?
2024 can be recorded as the year of IPOs, with 93 listed against 60 in 2023. The listing day win rate of almost 80% was the same as 2023.
Is this IPO performance data current?
No. Every price, gain and count on this page is based on closing prices recorded on 9 January 2025 and is shown for illustration only. Check current figures before investing.
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