Avendus Capital: IPO Track Record
A recent entrant to the data: 9 of its 11 IPOs listed in 2025 or 2026, led by consumer services and healthcare, with large issues (median INR 4,193.73 crore).
Listed IPOs
11
11 mainboard
Amount raised
INR 68,564.18 crore
2024 to 2026
Median gain at open
+5.46%
listing day, vs issue price
Median gain at close
+7.33%
listing day, vs issue price
Opened above issue price
72.73%
share of listings
Closed below issue price
27.27%
on listing day
Median subscription
12.22x
total, final day
Vs same-year IPOs
-2.81
percentage points; median gap at open
Best listing: Brainbees Solutions (+40% at open, 13 August 2024). Weakest: Amagi Media Labs (-11.91% at open, 21 January 2026).
An IPO with several lead managers counts towards each of them.
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 7 | +4.34% | +1.85% | 71.43% | 8.38x |
| 2025 | 2 | +9.18% | +9.86% | 50% | 33.71x |
| 2024 | 2 | +23.84% | +31.48% | 100% | 7.91x |
All 11 IPOs Managed
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Zetwerk | 23 October 2026 | Mainboard | 151 | 5,012.33 | 3.10x | 159.25 | 138.25 | +5.46% | -8.44% |
| Sahajanand Medical Technologies | 23 October 2026 | Mainboard | 344 | 475.48 | 14.20x | 371.15 | 377.65 | +7.89% | +9.78% |
| National Stock Exchange | 24 September 2026 | Mainboard | 1,785 | 22,561.57 | 5.71x | 1,800 | 1,818 | +0.84% | +1.85% |
| Symbiotec Pharmalab | 1 September 2026 | Mainboard | 988 | 1,757 | 75.06x | 988 | 1,097.70 | 0% | +11.10% |
| LEAP India | 14 August 2026 | Mainboard | 159 | 2,480 | 8.38x | 165.90 | 144.93 | +4.34% | -8.85% |
| Sedemac Mechatronics | 11 March 2026 | Mainboard | 1,352 | 1,087.35 | 2.68x | 1,535 | 1,451.10 | +13.54% | +7.33% |
| Amagi Media Labs | 21 January 2026 | Mainboard | 361 | 1,788.62 | 30.22x | 318 | 348.25 | -11.91% | -3.53% |
| ICICI Prudential AMC | 19 December 2025 | Mainboard | 2,165 | 10,602.65 | 39.17x | 2,600 | 2,585.90 | +20.09% | +19.44% |
| Lenskart Solutions | 10 November 2025 | Mainboard | 402 | 7,278.02 | 28.25x | 395 | 403.10 | -1.74% | +0.27% |
| Swiggy | 13 November 2024 | Mainboard | 390 | 11,327.43 | 3.59x | 420 | 456 | +7.69% | +16.92% |
| Brainbees Solutions | 13 August 2024 | Mainboard | 465 | 4,193.73 | 12.22x | 651 | 679.10 | +40% | +46.04% |