Axis Capital: IPO Track Record
The second-busiest mainboard lead manager in the data. Its IPOs opened in line with same-year listings (median difference +0.03 percentage points); 2021, its busiest year with 31 IPOs, had a median gain at open of only 1.66%.
Listed IPOs
137
137 mainboard
Amount raised
INR 3,87,544.68 crore
2018 to 2026
Median gain at open
+10%
listing day, vs issue price
Median gain at close
+10.28%
listing day, vs issue price
Opened above issue price
68.61%
share of listings
Closed below issue price
31.39%
on listing day
Median subscription
20.29x
total, final day
Vs same-year IPOs
+0.03
percentage points; median gap at open
Best listing: Latent View Analytics (+160% at open, 23 November 2021). Weakest: Shriram Properties (-23.73% at open, 20 December 2021).
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 | 19 | +10.51% | +7.33% | 68.42% | 22.19x |
| 2025 | 21 | +10% | +9.20% | 80.95% | 17.60x |
| 2024 | 25 | +13.58% | +17.27% | 76% | 40.66x |
| 2023 | 13 | +20.17% | +29.29% | 92.31% | 46.68x |
| 2022 | 12 | +2.88% | +1.43% | 58.33% | 3x |
| 2021 | 31 | +1.66% | +1.84% | 54.84% | 5.98x |
| 2020 | 5 | +48.21% | +18.59% | 60% | 73.30x |
| 2019 | 5 | +5% | +4.18% | 60% | 1.57x |
| 2018 | 6 | +0.28% | -3.71% | 50% | 7.96x |
All 137 IPOs Managed
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Jio Platforms | 28 October 2026 | Mainboard | 1,119 | 30,187.65 | 22.19x | 1,358 | 1,417.50 | +21.36% | +26.68% |
| Bonfiglioli Transmissions | 23 October 2026 | Mainboard | 586 | 2,533.66 | 46.06x | 586 | 574.50 | 0% | -1.96% |
| Moneyview | 1 October 2026 | Mainboard | 34 | 1,091.68 | 101.87x | 55 | 53.88 | +61.76% | +58.47% |
| National Stock Exchange | 24 September 2026 | Mainboard | 1,785 | 22,561.57 | 5.71x | 1,800 | 1,818 | +0.84% | +1.85% |
| Rentomojo | 17 September 2026 | Mainboard | 404 | 1,255.57 | 72.88x | 482.45 | 534.25 | +19.42% | +32.24% |
| Manipal Payment | 17 September 2026 | Mainboard | 339 | 805 | 1.42x | 330 | 345.15 | -2.65% | +1.81% |
| Purple Style Labs | 7 September 2026 | Mainboard | 575 | 680 | 1.36x | 535 | 568.55 | -6.96% | -1.12% |
| Horizon Industrial Parks | 24 August 2026 | Mainboard | 60 | 2,600 | 1.52x | 60.25 | 58.16 | +0.42% | -3.07% |
| Shiprocket | 19 August 2026 | Mainboard | 97 | 1,617.49 | 102.27x | 131 | 143.45 | +35.05% | +47.89% |
| Milky Mist | 18 August 2026 | Mainboard | 140 | 1,553 | 59.07x | 165 | 181.50 | +17.86% | +29.64% |
| Dhoot Transmission | 17 August 2026 | Mainboard | 871 | 3,066.89 | 75.05x | 1,200 | 1,187.05 | +37.77% | +36.29% |
| Manipal Health | 5 August 2026 | Mainboard | 590 | 9,275.22 | 4.92x | 652 | 666.95 | +10.51% | +13.04% |
| Indo-MIM | 30 July 2026 | Mainboard | 485 | 3,812.12 | 72.34x | 700 | 741.75 | +44.33% | +52.94% |
| SBI Funds Management | 21 July 2026 | Mainboard | 574 | 9,795.32 | 41.66x | 613.30 | 609.75 | +6.85% | +6.23% |
| Kusumgar | 15 July 2026 | Mainboard | 419 | 650 | 128.82x | 569 | 602.80 | +35.80% | +43.87% |
| Sedemac Mechatronics | 11 March 2026 | Mainboard | 1,352 | 1,087.35 | 2.68x | 1,535 | 1,451.10 | +13.54% | +7.33% |
| Clean Max Enviro Energy | 2 March 2026 | Mainboard | 1,053 | 3,083.83 | 0.94x | 960 | 867.50 | -8.83% | -17.62% |
| Fractal Analytics | 16 February 2026 | Mainboard | 900 | 2,833.94 | 2.66x | 876 | 847.15 | -2.67% | -5.87% |
| Aye Finance | 16 February 2026 | Mainboard | 129 | 1,010 | 0.97x | 129 | 128.91 | 0% | -0.07% |
| ICICI Prudential AMC | 19 December 2025 | Mainboard | 2,165 | 10,602.65 | 39.17x | 2,600 | 2,585.90 | +20.09% | +19.44% |
| Wakefit Innovations | 15 December 2025 | Mainboard | 195 | 1,288.89 | 2.52x | 195 | 192.29 | 0% | -1.39% |
| Meesho | 10 December 2025 | Mainboard | 111 | 5,421.20 | 79.02x | 162.50 | 170.09 | +46.40% | +53.23% |
| Tenneco Clean Air India | 19 November 2025 | Mainboard | 397 | 3,600 | 58.83x | 505 | 490.80 | +27.20% | +23.63% |
| Physicswallah | 18 November 2025 | Mainboard | 109 | 3,480 | 1.81x | 145 | 155.24 | +33.03% | +42.42% |
| Pine Labs | 14 November 2025 | Mainboard | 221 | 3,899.91 | 2.46x | 242 | 250.89 | +9.50% | +13.52% |
| Billionbrains Garage Ventures (Groww) | 12 November 2025 | Mainboard | 100 | 6,632.30 | 17.60x | 112 | 131.33 | +12% | +31.33% |
| Lenskart Solutions | 10 November 2025 | Mainboard | 402 | 7,278.02 | 28.25x | 395 | 403.10 | -1.74% | +0.27% |
| Rubicon Research | 16 October 2025 | Mainboard | 485 | 1,377.50 | 103.89x | 620 | 628.20 | +27.84% | +29.53% |
| Canara Robeco Asset Management Company | 16 October 2025 | Mainboard | 266 | 1,326.13 | 9.74x | 280.25 | 300.45 | +5.36% | +12.95% |
| LG Electronics India | 14 October 2025 | Mainboard | 1,140 | 11,604.73 | 54.02x | 1,710.10 | 1,689.90 | +50.01% | +48.24% |
| Tata Capital | 13 October 2025 | Mainboard | 326 | 15,511.87 | 1.95x | 330 | 330.50 | +1.23% | +1.38% |
| Atlanta Electricals | 29 September 2025 | Mainboard | 754 | 687.34 | 70.59x | 857 | 823.35 | +13.66% | +9.20% |
| Euro Pratik Sales | 23 September 2025 | Mainboard | 247 | 451.32 | 1.34x | 272.10 | 248.38 | +10.16% | +0.56% |
| BlueStone Jewellery | 19 August 2025 | Mainboard | 517 | 1,540.65 | 2.70x | 510 | 546 | -1.35% | +5.61% |
| JSW Cement | 14 August 2025 | Mainboard | 147 | 3,600 | 7.77x | 153.50 | 146.07 | +4.42% | -0.63% |
| NSDL | 6 August 2025 | Mainboard | 800 | 4,011.60 | 41.01x | 880 | 936 | +10% | +17% |
| Oswal Pumps | 20 June 2025 | Mainboard | 614 | 1,387.34 | 34.42x | 634 | 625.35 | +3.26% | +1.85% |
| Schloss Bangalore | 2 June 2025 | Mainboard | 435 | 3,500 | 4.50x | 406 | 435.55 | -6.67% | +0.13% |
| Belrise Industries | 28 May 2025 | Mainboard | 90 | 2,150 | 41.30x | 100 | 97.41 | +11.11% | +8.23% |
| Ather Energy | 6 May 2025 | Mainboard | 321 | 2,980.80 | 1.43x | 328 | 302.30 | +2.18% | -5.83% |
| Ventive Hospitality | 30 December 2024 | Mainboard | 643 | 1,600 | 9.80x | 716 | 704.35 | +11.35% | +9.54% |
| Carraro India | 30 December 2024 | Mainboard | 704 | 1,250 | 1.12x | 651 | 636.20 | -7.53% | -9.63% |
| Transrail Lighting | 27 December 2024 | Mainboard | 432 | 838.91 | 80.80x | 590 | 553.55 | +36.57% | +28.14% |
| International Gemmological Institute | 20 December 2024 | Mainboard | 417 | 4,225 | 33.78x | 510 | 471.15 | +22.30% | +12.99% |
| Zinka Logistics | 22 November 2024 | Mainboard | 273 | 1,114.72 | 1.86x | 280.90 | 260.05 | +2.89% | -4.74% |
| Niva Bupa Health Insurance | 14 November 2024 | Mainboard | 74 | 2,200 | 1.80x | 78.14 | 74.02 | +5.59% | +0.03% |
| Waaree Energies | 28 October 2024 | Mainboard | 1,503 | 4,321.44 | 76.34x | 2,500 | 2,338.90 | +66.33% | +55.62% |
| Northern Arc Capital | 24 September 2024 | Mainboard | 263 | 777 | 110.91x | 350 | 323.40 | +33.08% | +22.97% |
| Bajaj Housing Finance | 16 September 2024 | Mainboard | 70 | 6,560 | 63.61x | 150 | 165 | +114.29% | +135.71% |
| Baazar Style Retail | 6 September 2024 | Mainboard | 389 | 834.68 | 40.66x | 389 | 400 | 0% | +2.83% |
| Interarch Building Products | 26 August 2024 | Mainboard | 900 | 600.29 | 93.53x | 1,299 | 1,195.70 | +44.33% | +32.86% |
| OLA Electric | 9 August 2024 | Mainboard | 76 | 6,145.56 | 4.26x | 76 | 91.20 | 0% | +20% |
| Akums Drugs and Pharmaceuticals | 6 August 2024 | Mainboard | 679 | 1,856.74 | 63.56x | 725 | 796.25 | +6.77% | +17.27% |
| Emcure Pharmaceuticals | 10 July 2024 | Mainboard | 1,008 | 1,952.03 | 67.84x | 1,325.05 | 1,359.15 | +31.45% | +34.84% |
| Stanley Lifestyles | 28 June 2024 | Mainboard | 369 | 537.02 | 96.21x | 494.95 | 474.75 | +34.13% | +28.66% |
| Le Travenues Technology | 18 June 2024 | Mainboard | 93 | 740.10 | 98.10x | 138.10 | 165.72 | +48.49% | +78.19% |
| Awfis Space | 30 May 2024 | Mainboard | 383 | 598.93 | 108.15x | 435 | 421.75 | +13.58% | +10.12% |
| Go Digit General Insurance | 23 May 2024 | Mainboard | 272 | 2,614.65 | 9.60x | 286 | 306 | +5.15% | +12.50% |
| TBO Tek | 15 May 2024 | Mainboard | 920 | 1,550.81 | 86.50x | 1,426 | 1,406.30 | +55% | +52.86% |
| Bharti Hexacom | 12 April 2024 | Mainboard | 570 | 4,275 | 29.88x | 755 | 813.30 | +32.46% | +42.68% |
| Gopal Snacks | 14 March 2024 | Mainboard | 401 | 650 | 9.02x | 351 | 362.70 | -12.47% | -9.55% |
| Jana Small Finance Bank | 14 February 2024 | Mainboard | 414 | 570 | 18.50x | 396 | 368.15 | -4.35% | -11.07% |
| Apeejay Surrendra Park Hotels | 12 February 2024 | Mainboard | 155 | 920 | 59.66x | 186 | 203.55 | +20% | +31.32% |
| EPACK Durable | 30 January 2024 | Mainboard | 230 | 640.05 | 16.37x | 221 | 207.60 | -3.91% | -9.74% |
| Medi Assist Healthcare | 23 January 2024 | Mainboard | 418 | 1,171.58 | 16.25x | 460 | 464.10 | +10.05% | +11.03% |
| Azad Engineering | 28 December 2023 | Mainboard | 524 | 740 | 80.65x | 720 | 677.50 | +37.40% | +29.29% |
| Happy Forgings | 27 December 2023 | Mainboard | 850 | 1,008.59 | 82.04x | 1,000 | 1,030.80 | +17.65% | +21.27% |
| Muthoot Microfin | 26 December 2023 | Mainboard | 291 | 960 | 11.52x | 275.30 | 266.15 | -5.40% | -8.54% |
| INOX India | 21 December 2023 | Mainboard | 660 | 1,459.32 | 61.28x | 949.65 | 939.95 | +43.89% | +42.42% |
| Flair Writing | 1 December 2023 | Mainboard | 304 | 593 | 46.68x | 501 | 450.90 | +64.80% | +48.32% |
| ASK Automotive | 15 November 2023 | Mainboard | 282 | 833.91 | 51.14x | 303.30 | 310.10 | +7.55% | +9.96% |
| JSW Infra | 3 October 2023 | Mainboard | 119 | 2,800 | 37.37x | 143 | 157.30 | +20.17% | +32.18% |
| Signature Global | 27 September 2023 | Mainboard | 385 | 730 | 11.88x | 444 | 458.55 | +15.32% | +19.10% |
| RR Kabel | 20 September 2023 | Mainboard | 1,035 | 1,964.01 | 18.69x | 1,180 | 1,198.05 | +14.01% | +15.75% |
| TVS Supply Chain Solutions | 23 August 2023 | Mainboard | 197 | 880 | 2.78x | 207.05 | 201 | +5.10% | +2.03% |
| SBFC Finance | 16 August 2023 | Mainboard | 57 | 1,025 | 70.16x | 82 | 92.20 | +43.86% | +61.75% |
| Cyient DLM | 10 July 2023 | Mainboard | 265 | 592 | 67.31x | 403 | 420.60 | +52.08% | +58.72% |
| Mankind Pharma | 9 May 2023 | Mainboard | 1,080 | 4,326.36 | 15.32x | 1,300 | 1,422.30 | +20.37% | +31.69% |
| Elin Electronics | 30 December 2022 | Mainboard | 247 | 475 | 3.09x | 244 | 227.65 | -1.21% | -7.83% |
| Landmark Cars | 23 December 2022 | Mainboard | 506 | 552 | 3.06x | 471 | 458.40 | -6.92% | -9.41% |
| Uniparts India | 12 December 2022 | Mainboard | 577 | 835.61 | 25.32x | 575 | 539.65 | -0.35% | -6.47% |
| Keystone Realtors | 24 November 2022 | Mainboard | 541 | 635 | 2.01x | 555 | 556.85 | +2.59% | +2.93% |
| Bikaji Foods | 16 November 2022 | Mainboard | 300 | 880.84 | 26.67x | 322.80 | 317.45 | +7.60% | +5.82% |
| DCX Systems | 11 November 2022 | Mainboard | 207 | 500 | 69.79x | 287 | 308.45 | +38.65% | +49.01% |
| Harsha Engineers | 26 September 2022 | Mainboard | 330 | 755 | 74.70x | 450 | 486.50 | +36.36% | +47.42% |
| Tamilnad Mercantile Bank | 15 September 2022 | Mainboard | 510 | 807.84 | 2.86x | 495 | 509.65 | -2.94% | -0.07% |
| Paradeep Phosphates | 27 May 2022 | Mainboard | 42 | 1,501.73 | 1.75x | 44 | 43.90 | +4.76% | +4.52% |
| Prudent Corporate Advisory | 20 May 2022 | Mainboard | 630 | 428.28 | 1.22x | 650 | 561.75 | +3.17% | -10.83% |
| LIC | 17 May 2022 | Mainboard | 949 | 20,557.23 | 2.95x | 872 | 875.25 | -8.11% | -7.77% |
| Vedant Fashions | 16 February 2022 | Mainboard | 866 | 3,149.19 | 2.57x | 935 | 933.55 | +7.97% | +7.80% |
| CMS Infosystems | 31 December 2021 | Mainboard | 216 | 1,100 | 1.95x | 220.20 | 238.20 | +1.94% | +10.28% |
| Supriya Lifescience | 28 December 2021 | Mainboard | 274 | 700 | 71.51x | 421 | 390.85 | +53.65% | +42.65% |
| Medplus Health | 23 December 2021 | Mainboard | 796 | 1,398.30 | 52.59x | 1,040 | 1,121.15 | +30.65% | +40.85% |
| Metro Brands | 22 December 2021 | Mainboard | 500 | 1,367.51 | 3.64x | 437 | 493.35 | -12.60% | -1.33% |
| CE Infosystems (MapMyIndia) | 21 December 2021 | Mainboard | 1,033 | 1,039.61 | 154.71x | 1,565 | 1,393.65 | +51.50% | +34.91% |
| Shriram Properties | 20 December 2021 | Mainboard | 118 | 600 | 4.60x | 90 | 99.60 | -23.73% | -15.59% |
| Tega Industries | 13 December 2021 | Mainboard | 453 | 619.23 | 219.04x | 760 | 726.05 | +67.77% | +60.28% |
| Star Health | 10 December 2021 | Mainboard | 900 | 6,018.68 | 0.79x | 845 | 906.85 | -6.11% | +0.76% |
| Latent View Analytics | 23 November 2021 | Mainboard | 197 | 600 | 326.49x | 512.20 | 488.75 | +160% | +148.10% |
| One97 Communications (Paytm) | 18 November 2021 | Mainboard | 2,150 | 18,300 | 1.89x | 1,950 | 1,560.80 | -9.30% | -27.40% |
| SJS Enterprises | 15 November 2021 | Mainboard | 542 | 800 | 1.59x | 542 | 510.20 | 0% | -5.87% |
| Fino Payments Bank | 12 November 2021 | Mainboard | 577 | 1,200.29 | 2.03x | 544.35 | 543.90 | -5.66% | -5.74% |
| Aditya Birla AMC | 11 October 2021 | Mainboard | 712 | 2,768.26 | 5.25x | 715 | 699.45 | +0.42% | -1.76% |
| Ami Organics | 14 September 2021 | Mainboard | 610 | 569.64 | 64.54x | 910 | 935 | +49.18% | +53.28% |
| Chemplast Sanmar | 24 August 2021 | Mainboard | 541 | 3,850 | 2.17x | 550 | 535.60 | +1.66% | -1% |
| Nuvoco Vistas | 23 August 2021 | Mainboard | 570 | 5,000 | 1.71x | 485 | 531.70 | -14.91% | -6.72% |
| CarTrade Tech | 20 August 2021 | Mainboard | 1,618 | 2,998.51 | 20.29x | 1,599.80 | 1,501.05 | -1.12% | -7.23% |
| Clean Science And Technology | 19 July 2021 | Mainboard | 900 | 1,546.62 | 93.41x | 1,755 | 1,585.25 | +95% | +76.14% |
| India Pesticides | 5 July 2021 | Mainboard | 296 | 800 | 29.04x | 350 | 343.15 | +18.24% | +15.93% |
| KIMS | 28 June 2021 | Mainboard | 825 | 2,143.74 | 3.86x | 1,009 | 996.95 | +22.30% | +20.84% |
| Dodla Dairy | 28 June 2021 | Mainboard | 428 | 520.18 | 45.62x | 550 | 609.90 | +28.50% | +42.50% |
| Shyam Metalics | 24 June 2021 | Mainboard | 306 | 908.80 | 121.43x | 380 | 376.15 | +24.18% | +22.92% |
| Macrotech Developers (Lodha) | 19 April 2021 | Mainboard | 486 | 2,500 | 1.36x | 436 | 465.25 | -10.29% | -4.27% |
| Barbeque Nation | 7 April 2021 | Mainboard | 500 | 452.87 | 5.98x | 489.85 | 587.80 | -2.03% | +17.56% |
| Suryoday Small Finance Bank | 26 March 2021 | Mainboard | 305 | 580.84 | 2.37x | 292 | 277.80 | -4.26% | -8.92% |
| Kalyan Jewellers | 26 March 2021 | Mainboard | 87 | 1,174.82 | 2.61x | 73.95 | 75.20 | -15% | -13.56% |
| Laxmi Organic | 25 March 2021 | Mainboard | 130 | 600 | 106.81x | 155.50 | 164.45 | +19.62% | +26.50% |
| Craftsman Automation | 25 March 2021 | Mainboard | 1,490 | 823.70 | 3.82x | 1,359 | 1,435.60 | -8.79% | -3.65% |
| Anupam Rasayan | 24 March 2021 | Mainboard | 555 | 760 | 44.06x | 520 | 526.80 | -6.31% | -5.08% |
| Easy Trip Planners (EaseMyTrip) | 19 March 2021 | Mainboard | 187 | 510 | 159.33x | 212.25 | 208.45 | +13.50% | +11.47% |
| Home First Finance | 3 February 2021 | Mainboard | 518 | 1,153.72 | 26.66x | 618.80 | 527.55 | +19.46% | +1.84% |
| UTI AMC | 12 October 2020 | Mainboard | 554 | 2,159.88 | 2.31x | 500 | 476.20 | -9.75% | -14.04% |
| Mazagon Dock Shipbuilders | 12 October 2020 | Mainboard | 145 | 443.69 | 157.41x | 214.90 | 171.95 | +48.21% | +18.59% |
| Route Mobile | 21 September 2020 | Mainboard | 350 | 600 | 73.30x | 717 | 651.30 | +104.86% | +86.09% |
| Rossari Biotech | 23 July 2020 | Mainboard | 425 | 496.25 | 79.37x | 669.25 | 741.65 | +57.47% | +74.51% |
| SBI Cards | 16 March 2020 | Mainboard | 755 | 10,340.79 | 26.54x | 661 | 681.40 | -12.45% | -9.75% |
| CSB Bank | 4 December 2019 | Mainboard | 195 | 409.68 | 86.91x | 275 | 300.05 | +41.03% | +53.87% |
| Sterling & Wilson Solar | 20 August 2019 | Mainboard | 780 | 2,849.64 | 0.85x | 706 | 726.20 | -9.49% | -6.90% |
| Spandana Sphoorti Financial | 19 August 2019 | Mainboard | 856 | 1,189.85 | 1.05x | 825 | 847.80 | -3.62% | -0.96% |
| Polycab India | 16 April 2019 | Mainboard | 538 | 1,345.26 | 51.88x | 633 | 654.80 | +17.66% | +21.71% |
| Chalet Hotels | 7 February 2019 | Mainboard | 280 | 1,641.18 | 1.57x | 294 | 291.70 | +5% | +4.18% |
| IRCON International | 28 September 2018 | Mainboard | 475 | 466.94 | 9.77x | 412 | 415.30 | -13.26% | -12.57% |
| HDFC AMC | 6 August 2018 | Mainboard | 1,100 | 2,800.33 | 82.99x | 1,726.25 | 1,815.95 | +56.93% | +65.09% |
| Sandhar Technologies | 2 April 2018 | Mainboard | 332 | 512.48 | 6.14x | 346.10 | 322.15 | +4.25% | -2.97% |
| Hindustan Aeronautics | 28 March 2018 | Mainboard | 1,215 | 4,063.31 | 0.99x | 1,152 | 1,132.85 | -5.19% | -6.76% |
| Bandhan Bank | 27 March 2018 | Mainboard | 375 | 4,473.02 | 14.56x | 499 | 476.85 | +33.07% | +27.16% |
| Aster DM Healthcare | 26 February 2018 | Mainboard | 190 | 980.10 | 1.31x | 183 | 181.55 | -3.68% | -4.45% |