HDFC Bank: IPO Track Record
Its IPOs opened a median 4.38 percentage points below same-year listings. Before 2025 they drew a median 6.26x subscription; the 7 since have drawn 22.19x.
Listed IPOs
26
26 mainboard
Amount raised
INR 1,48,366.43 crore
2018 to 2026
Median gain at open
+4.60%
listing day, vs issue price
Median gain at close
+9.98%
listing day, vs issue price
Opened above issue price
73.08%
share of listings
Closed below issue price
26.92%
on listing day
Median subscription
7.03x
total, final day
Vs same-year IPOs
-4.38
percentage points; median gap at open
Best listing: GR Infraprojects (+105% at open, 19 July 2021). Weakest: One97 Communications (Paytm) (-9.30% at open, 18 November 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 | 3 | +21.36% | +26.68% | 100% | 22.19x |
| 2025 | 4 | +6.50% | +6.31% | 75% | 20.63x |
| 2024 | 4 | +5.37% | +12.57% | 100% | 6.01x |
| 2023 | 2 | -0.73% | +2.01% | 50% | 15.73x |
| 2022 | 3 | 0% | +16.63% | 33.33% | 7.79x |
| 2021 | 5 | +1.66% | -1% | 80% | 5.25x |
| 2020 | 1 | +23.41% | +13.95% | 100% | 46.99x |
| 2019 | 1 | +8.86% | +9.07% | 100% | 5.83x |
| 2018 | 3 | 0% | -0.83% | 33.33% | 4.98x |
All 26 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% |
| National Stock Exchange | 24 September 2026 | Mainboard | 1,785 | 22,561.57 | 5.71x | 1,800 | 1,818 | +0.84% | +1.85% |
| Indo-MIM | 30 July 2026 | Mainboard | 485 | 3,812.12 | 72.34x | 700 | 741.75 | +44.33% | +52.94% |
| ICICI Prudential AMC | 19 December 2025 | Mainboard | 2,165 | 10,602.65 | 39.17x | 2,600 | 2,585.90 | +20.09% | +19.44% |
| Tata Capital | 13 October 2025 | Mainboard | 326 | 15,511.87 | 1.95x | 330 | 330.50 | +1.23% | +1.38% |
| GK Energy | 26 September 2025 | Mainboard | 153 | 464.26 | 89.62x | 171 | 167.74 | +11.76% | +9.63% |
| Aegis Vopak Terminals | 2 June 2025 | Mainboard | 235 | 2,800 | 2.09x | 220 | 242 | -6.38% | +2.98% |
| Transrail Lighting | 27 December 2024 | Mainboard | 432 | 838.91 | 80.80x | 590 | 553.55 | +36.57% | +28.14% |
| NTPC Green Energy | 27 November 2024 | Mainboard | 108 | 10,000 | 2.42x | 111.50 | 121.65 | +3.24% | +12.64% |
| Niva Bupa Health Insurance | 14 November 2024 | Mainboard | 74 | 2,200 | 1.80x | 78.14 | 74.02 | +5.59% | +0.03% |
| Go Digit General Insurance | 23 May 2024 | Mainboard | 272 | 2,614.65 | 9.60x | 286 | 306 | +5.15% | +12.50% |
| IRM Energy | 26 October 2023 | Mainboard | 505 | 544.36 | 27.05x | 477.25 | 473.15 | -5.50% | -6.31% |
| Sai Silks Kalamandir | 27 September 2023 | Mainboard | 222 | 1,201 | 4.40x | 231 | 244.90 | +4.05% | +10.32% |
| Aether Industries | 3 June 2022 | Mainboard | 642 | 808.04 | 6.26x | 704 | 774.40 | +9.66% | +20.62% |
| Adani Wilmar | 8 February 2022 | Mainboard | 230 | 3,600 | 17.37x | 227 | 268.25 | -1.30% | +16.63% |
| AGS Transact | 31 January 2022 | Mainboard | 175 | 680 | 7.79x | 175 | 161.05 | 0% | -7.97% |
| One97 Communications (Paytm) | 18 November 2021 | Mainboard | 2,150 | 18,300 | 1.89x | 1,950 | 1,560.80 | -9.30% | -27.40% |
| PB Fintech (PolicyBazaar) | 15 November 2021 | Mainboard | 980 | 5,709.71 | 16.59x | 1,150 | 1,202.30 | +17.35% | +22.68% |
| Aditya Birla AMC | 11 October 2021 | Mainboard | 712 | 2,768.26 | 5.25x | 715 | 699.45 | +0.42% | -1.76% |
| Chemplast Sanmar | 24 August 2021 | Mainboard | 541 | 3,850 | 2.17x | 550 | 535.60 | +1.66% | -1% |
| GR Infraprojects | 19 July 2021 | Mainboard | 837 | 962.33 | 102.58x | 1,715.85 | 1,747.10 | +105% | +108.73% |
| CAMS | 1 October 2020 | Mainboard | 1,230 | 2,242.11 | 46.99x | 1,518 | 1,401.60 | +23.41% | +13.95% |
| Metropolis Healthcare | 15 April 2019 | Mainboard | 880 | 1,204.29 | 5.83x | 958 | 959.85 | +8.86% | +9.07% |
| Aavas Financiers | 8 October 2018 | Mainboard | 821 | 1,640.32 | 0.97x | 750 | 774.35 | -8.65% | -5.68% |
| HDFC AMC | 6 August 2018 | Mainboard | 1,100 | 2,800.33 | 82.99x | 1,726.25 | 1,815.95 | +56.93% | +65.09% |
| HG Infra Engineering | 9 March 2018 | Mainboard | 270 | 462 | 4.98x | 270 | 267.75 | 0% | -0.83% |