Emkay Global Financial Services: IPO Track Record
Mainboard. 6 of its 10 IPOs opened above the issue price, but half closed below it on listing day; the median gain at close (1.07%) is well below the median at open (7.87%).
Listed IPOs
10
10 mainboard
Amount raised
INR 4,202.11 crore
2021 to 2026
Median gain at open
+7.87%
listing day, vs issue price
Median gain at close
+1.07%
listing day, vs issue price
Opened above issue price
60%
share of listings
Closed below issue price
50%
on listing day
Median subscription
36.91x
total, final day
Vs same-year IPOs
-3.88
percentage points; median gap at open
Best listing: Behari Lal Engineering (+63.16% at open, 19 August 2026). Weakest: Innovision (-9.88% at open, 23 March 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 | 6 | +13.51% | +1.07% | 66.67% | 36.91x |
| 2024 | 2 | +4.08% | -3.13% | 50% | 67.96x |
| 2022 | 1 | -6.04% | -8.53% | 0% | 1.04x |
| 2021 | 1 | +43.54% | +29.60% | 100% | 83.29x |
All 10 IPOs Managed
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| German Green Steel | 5 October 2026 | Mainboard | 139 | 303.90 | 30.42x | 142 | 128.33 | +2.16% | -7.68% |
| SS Retail | 23 September 2026 | Mainboard | 424 | 500 | 108.69x | 624 | 748.80 | +47.17% | +76.60% |
| Deepa Jewellers | 8 September 2026 | Mainboard | 177 | 459.72 | 43.40x | 221 | 194.37 | +24.86% | +9.81% |
| Behari Lal Engineering | 19 August 2026 | Mainboard | 285 | 301.62 | 108.51x | 465 | 502.20 | +63.16% | +76.21% |
| Amir Chand Jagdish Kumar (Aeroplane Basmati) | 2 April 2026 | Mainboard | 212 | 440 | 3.23x | 200 | 180 | -5.66% | -15.09% |
| Innovision | 23 March 2026 | Mainboard | 519 | 319.25 | 3.47x | 467.70 | 374.20 | -9.88% | -27.90% |
| Awfis Space | 30 May 2024 | Mainboard | 383 | 598.93 | 108.15x | 435 | 421.75 | +13.58% | +10.12% |
| JG Chemicals | 13 March 2024 | Mainboard | 221 | 251.19 | 27.77x | 209 | 184.80 | -5.43% | -16.38% |
| Ethos | 30 May 2022 | Mainboard | 878 | 402.26 | 1.04x | 825 | 803.10 | -6.04% | -8.53% |
| Heranba Industries | 5 March 2021 | Mainboard | 627 | 625.24 | 83.29x | 900 | 812.60 | +43.54% | +29.60% |