ICICI Securities: IPO Track Record

The busiest lead manager in the data. Its IPOs opened a median 4.27 percentage points below same-year listings, and since 2025 the median gain at open has been 1.68% across 38 IPOs.

Listed IPOs
148
148 mainboard
Amount raised
INR 3,61,401.36 crore
2018 to 2026
Median gain at open
+4.96%
listing day, vs issue price
Median gain at close
+9.99%
listing day, vs issue price
Opened above issue price
64.19%
share of listings
Closed below issue price
33.78%
on listing day
Median subscription
16.48x
total, final day
Vs same-year IPOs
-4.27
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

YearIPOsMedian gain at openMedian gain at closeOpened above issueMedian subscription
202619+6.85%+7.33%57.89%8.38x
202519+1.23%+0.13%57.89%12.41x
202430+7.23%+12.02%70%20.99x
202320+19.25%+20.16%80%51.50x
202212+0.14%+1.40%50%2.95x
202130+6.04%+6.34%63.33%14.03x
20207+57.47%+74.51%71.43%73.30x
20194+8.82%+8.15%50%18.63x
20187+3.04%+0.01%57.14%6.14x

All 148 IPOs Managed

IPOListedSegmentIssue price (INR)Issue size (INR crore)SubscriptionOpen (INR)Close (INR)Gain at openGain at close
Jio Platforms28 October 2026Mainboard1,11930,187.6522.19x1,3581,417.50+21.36%+26.68%
Bonfiglioli Transmissions23 October 2026Mainboard5862,533.6646.06x586574.500%-1.96%
Runwal Enterprises5 October 2026Mainboard3055002.63x305301.450%-1.16%
National Stock Exchange24 September 2026Mainboard1,78522,561.575.71x1,8001,818+0.84%+1.85%
Hero Motors23 September 2026Mainboard841,0007.08x8298.40-2.38%+17.14%
Manipal Payment17 September 2026Mainboard3398051.42x330345.15-2.65%+1.81%
Karamtara Engineering17 September 2026Mainboard25487566.01x320352+25.98%+38.58%
Tempsens Instruments28 August 2026Mainboard300650184.07x634586.65+111.33%+95.55%
Juniper Green Energy6 August 2026Mainboard2251,8008.38x245259.71+8.89%+15.43%
Indo-MIM30 July 2026Mainboard4853,812.1272.34x700741.75+44.33%+52.94%
SBI Funds Management21 July 2026Mainboard5749,795.3241.66x613.30609.75+6.85%+6.23%
Laser Power16 July 2026Mainboard21474238.94x250262.42+16.82%+22.63%
Turtlemint Fintech29 June 2026Mainboard152882.671.20x134.90135.37-11.25%-10.94%
CMR Green10 June 2026Mainboard192630.62127.03x268241.20+39.58%+25.62%
Powerica2 April 2026Mainboard3951,1001.45x366390-7.34%-1.27%
Sedemac Mechatronics11 March 2026Mainboard1,3521,087.352.68x1,5351,451.10+13.54%+7.33%
Omnitech Engineering5 March 2026Mainboard2275832.28x202204.93-11.01%-9.72%
Shadowfax Technologies28 January 2026Mainboard1241,907.272.72x112.60109.98-9.19%-11.31%
Bharat Coking Coal19 January 2026Mainboard231,071.11146.87x4540.58+95.65%+76.43%
KSH International23 December 2025Mainboard384626.350.83x370355-3.65%-7.55%
ICICI Prudential AMC19 December 2025Mainboard2,16510,602.6539.17x2,6002,585.90+20.09%+19.44%
Nephrocare Health Services17 December 2025Mainboard460871.0513.96x490471.25+6.52%+2.45%
Sudeep Pharma28 November 2025Mainboard59389593.71x730774.15+23.10%+30.55%
Studds Accessories7 November 2025Mainboard585455.4973.25x565560.30-3.42%-4.22%
Orkla India6 November 2025Mainboard7301,667.3348.73x750.10713.65+2.75%-2.24%
Tata Capital13 October 2025Mainboard32615,511.871.95x330330.50+1.23%+1.38%
WeWork India10 October 2025Mainboard6482,999.641.15x650628.65+0.31%-2.99%
Jain Resource Recycling1 October 2025Mainboard2321,25015.90x265.05318.06+14.25%+37.09%
Seshaasai Technologies30 September 2025Mainboard423813.0768.13x432411.45+2.13%-2.73%
NSDL6 August 2025Mainboard8004,011.6041.01x880936+10%+17%
Aditya Infotech5 August 2025Mainboard6751,300100.69x1,0151,082.65+50.37%+60.39%
Brigade Hotel Ventures31 July 2025Mainboard90759.604.48x81.1085.32-9.89%-5.20%
IndiQube Spaces30 July 2025Mainboard23770012.41x216217.97-8.86%-8.03%
Travel Food Services14 July 2025Mainboard1,1002,0002.88x1,1251,074.80+2.27%-2.29%
Kalpataru1 July 2025Mainboard4141,5902.26x414432.950%+4.58%
Schloss Bangalore2 June 2025Mainboard4353,5004.50x406435.55-6.67%+0.13%
Aegis Vopak Terminals2 June 2025Mainboard2352,8002.09x220242-6.38%+2.98%
Ajax Engineering17 February 2025Mainboard6291,268.886.45x576595.40-8.43%-5.34%
Ventive Hospitality30 December 2024Mainboard6431,6009.80x716704.35+11.35%+9.54%
Sanathan Textiles27 December 2024Mainboard32155035.12x422.30388.35+31.56%+20.98%
Inventurus Knowledge Solutions19 December 2024Mainboard1,3292,497.9252.68x1,9001,960.85+42.96%+47.54%
Vishal Mega Mart18 December 2024Mainboard788,00027.28x104111.93+33.33%+43.50%
Suraksha Diagnostic6 December 2024Mainboard441846.251.27x438417.25-0.68%-5.39%
Niva Bupa Health Insurance14 November 2024Mainboard742,2001.80x78.1474.02+5.59%+0.03%
Swiggy13 November 2024Mainboard39011,327.433.59x420456+7.69%+16.92%
ACME Solar13 November 2024Mainboard2892,9002.75x251253.15-13.15%-12.40%
Sagility India12 November 2024Mainboard302,106.403.20x31.0629.32+3.53%-2.27%
Afcons Infrastructure4 November 2024Mainboard4635,4302.63x426474.20-7.99%+2.42%
Northern Arc Capital24 September 2024Mainboard263777110.91x350323.40+33.08%+22.97%
Premier Energies3 September 2024Mainboard4502,830.4074.38x990839.90+120%+86.64%
OLA Electric9 August 2024Mainboard766,145.564.26x7691.200%+20%
Ceigall India8 August 2024Mainboard4011,252.6613.74x419386.75+4.49%-3.55%
Akums Drugs and Pharmaceuticals6 August 2024Mainboard6791,856.7463.56x725796.25+6.77%+17.27%
Allied Blenders and Distillers2 July 2024Mainboard2811,50023.49x320317.90+13.88%+13.13%
Stanley Lifestyles28 June 2024Mainboard369537.0296.21x494.95474.75+34.13%+28.66%
Awfis Space30 May 2024Mainboard383598.93108.15x435421.75+13.58%+10.12%
Go Digit General Insurance23 May 2024Mainboard2722,614.659.60x286306+5.15%+12.50%
Aadhar Housing Finance15 May 2024Mainboard3153,00025.49x315329.450%+4.59%
JNK India30 April 2024Mainboard415649.4728.04x621694.55+49.64%+67.36%
Bharti Hexacom12 April 2024Mainboard5704,27529.88x755813.30+32.46%+42.68%
Popular Vehicles19 March 2024Mainboard295601.551.23x289.20276.15-1.97%-6.39%
Juniper Hotels28 February 2024Mainboard3601,8002.07x365401.50+1.39%+11.53%
Entero Healthcare16 February 2024Mainboard1,2581,6001.53x1,228.701,149.55-2.33%-8.62%
Rashi Peripherals14 February 2024Mainboard31160059.71x339.50321.50+9.16%+3.38%
Jana Small Finance Bank14 February 2024Mainboard41457018.50x396368.15-4.35%-11.07%
Apeejay Surrendra Park Hotels12 February 2024Mainboard15592059.66x186203.55+20%+31.32%
EPACK Durable30 January 2024Mainboard230640.0516.37x221207.60-3.91%-9.74%
Jyoti CNC Automation16 January 2024Mainboard3311,00038.53x370434.20+11.78%+31.18%
Innova Captab29 December 2023Mainboard44857055.26x452.10541.40+0.92%+20.85%
Azad Engineering28 December 2023Mainboard52474080.65x720677.50+37.40%+29.29%
Credo Brands27 December 2023Mainboard280549.7851.85x282.35312.20+0.84%+11.50%
Muthoot Microfin26 December 2023Mainboard29196011.52x275.30266.15-5.40%-8.54%
INOX India21 December 2023Mainboard6601,459.3261.28x949.65939.95+43.89%+42.42%
India Shelter Finance20 December 2023Mainboard4931,20036.62x620544.70+25.76%+10.49%
DOMS Industries20 December 2023Mainboard7901,20093.40x1,4001,326.05+77.22%+67.85%
Gandhar Oil30 November 2023Mainboard169500.6964.07x298301.40+76.33%+78.34%
Fedbank Financial Services30 November 2023Mainboard1401,092.262.20x138140.25-1.43%+0.18%
ASK Automotive15 November 2023Mainboard282833.9151.14x303.30310.10+7.55%+9.96%
Protean eGov13 November 2023Mainboard792489.9523.86x7928830%+11.49%
ESAF Small Finance Bank10 November 2023Mainboard6046373.14x7169.05+18.33%+15.08%
Cello World6 November 2023Mainboard6481,90038.90x829791.70+27.93%+22.18%
Blue Jet Healthcare1 November 2023Mainboard346840.277.95x380413.40+9.83%+19.48%
JSW Infra3 October 2023Mainboard1192,80037.37x143157.30+20.17%+32.18%
Signature Global27 September 2023Mainboard38573011.88x444458.55+15.32%+19.10%
Zaggle Prepaid Ocean Services22 September 2023Mainboard164563.3812.55x164158.350%-3.45%
Jupiter Life Line Hospitals18 September 2023Mainboard735869.0863.72x9731,075.75+32.38%+46.36%
SBFC Finance16 August 2023Mainboard571,02570.16x8292.20+43.86%+61.75%
Utkarsh Small Finance Bank21 July 2023Mainboard25500101.91x4048+60%+92%
KFin Technologies29 December 2022Mainboard3661,5002.59x367363.85+0.27%-0.59%
Landmark Cars23 December 2022Mainboard5065523.06x471458.40-6.92%-9.41%
Five-Star Business Finance21 November 2022Mainboard4741,588.510.70x468.80490-1.10%+3.38%
Archean Chemical Industries21 November 2022Mainboard4071,462.3032.23x450458.15+10.57%+12.57%
Fusion Microfinance15 November 2022Mainboard3681,103.992.95x359.50324.80-2.31%-11.74%
Syrma SGS26 August 2022Mainboard220840.1332.61x260310.50+18.18%+41.14%
Paradeep Phosphates27 May 2022Mainboard421,501.731.75x4443.90+4.76%+4.52%
Prudent Corporate Advisory20 May 2022Mainboard630428.281.22x650561.75+3.17%-10.83%
LIC17 May 2022Mainboard94920,557.232.95x872875.25-8.11%-7.77%
Vedant Fashions16 February 2022Mainboard8663,149.192.57x935933.55+7.97%+7.80%
Adani Wilmar8 February 2022Mainboard2303,60017.37x227268.25-1.30%+16.63%
AGS Transact31 January 2022Mainboard1756807.79x175161.050%-7.97%
Supriya Lifescience28 December 2021Mainboard27470071.51x421390.85+53.65%+42.65%
Metro Brands22 December 2021Mainboard5001,367.513.64x437493.35-12.60%-1.33%
Shriram Properties20 December 2021Mainboard1186004.60x9099.60-23.73%-15.59%
Star Health10 December 2021Mainboard9006,018.680.79x845906.85-6.11%+0.76%
Go Fashion30 November 2021Mainboard6901,013.61135.46x1,3101,253.70+89.86%+81.70%
Tarsons Products26 November 2021Mainboard6621,023.4777.49x682818.40+3.02%+23.63%
Latent View Analytics23 November 2021Mainboard197600326.49x512.20488.75+160%+148.10%
Sapphire Foods18 November 2021Mainboard1,1802,073.256.62x1,3501,211.55+14.41%+2.67%
One97 Communications (Paytm)18 November 2021Mainboard2,15018,3001.89x1,9501,560.80-9.30%-27.40%
PB Fintech (PolicyBazaar)15 November 2021Mainboard9805,709.7116.59x1,1501,202.30+17.35%+22.68%
Fino Payments Bank12 November 2021Mainboard5771,200.292.03x544.35543.90-5.66%-5.74%
FSN E-commerce (Nykaa)10 November 2021Mainboard1,1255,349.7281.78x2,0182,205.80+79.38%+96.07%
Aditya Birla AMC11 October 2021Mainboard7122,768.265.25x715699.45+0.42%-1.76%
Sansera Engineering24 September 2021Mainboard7441,282.5211.47x811.50818.55+9.07%+10.02%
Vijaya Diagnostic14 September 2021Mainboard5311,894.264.54x540620.10+1.69%+16.78%
Chemplast Sanmar24 August 2021Mainboard5413,8502.17x550535.60+1.66%-1%
Aptus Value Housing Finance24 August 2021Mainboard3532,780.0517.20x333346.90-5.67%-1.73%
Nuvoco Vistas23 August 2021Mainboard5705,0001.71x485531.70-14.91%-6.72%
Tatva Chintan Pharma29 July 2021Mainboard1,083500180.36x2,111.852,312.20+95%+113.50%
GR Infraprojects19 July 2021Mainboard837962.33102.58x1,715.851,747.10+105%+108.73%
Dodla Dairy28 June 2021Mainboard428520.1845.62x550609.90+28.50%+42.50%
Shyam Metalics24 June 2021Mainboard306908.80121.43x380376.15+24.18%+22.92%
Macrotech Developers (Lodha)19 April 2021Mainboard4862,5001.36x436465.25-10.29%-4.27%
Nazara Technologies30 March 2021Mainboard1,101582.69175.46x1,9901,592+80.74%+44.60%
Suryoday Small Finance Bank26 March 2021Mainboard305580.842.37x292277.80-4.26%-8.92%
Kalyan Jewellers26 March 2021Mainboard871,174.822.61x73.9575.20-15%-13.56%
RailTel26 February 2021Mainboard94819.2442.39x109121.35+15.96%+29.10%
Home First Finance3 February 2021Mainboard5181,153.7226.66x618.80527.55+19.46%+1.84%
Indigo Paints2 February 2021Mainboard1,4901,169.12117.02x2,607.503,117.15+75%+109.20%
IRFC29 January 2021Mainboard264,633.383.49x24.9024.80-4.23%-4.62%
Mrs Bectors Food Specialities24 December 2020Mainboard288540.54198.02x500594.20+73.61%+106.32%
UTI AMC12 October 2020Mainboard5542,159.882.31x500476.20-9.75%-14.04%
Angel Broking5 October 2020Mainboard3066003.94x275275.80-10.13%-9.87%
CAMS1 October 2020Mainboard1,2302,242.1146.99x1,5181,401.60+23.41%+13.95%
Route Mobile21 September 2020Mainboard35060073.30x717651.30+104.86%+86.09%
Happiest Minds Technologies17 September 2020Mainboard166702.02150.98x350370.95+110.84%+123.46%
Rossari Biotech23 July 2020Mainboard425496.2579.37x669.25741.65+57.47%+74.51%
Sterling & Wilson Solar20 August 2019Mainboard7802,849.640.85x706726.20-9.49%-6.90%
Spandana Sphoorti Financial19 August 2019Mainboard8561,189.851.05x825847.80-3.62%-0.96%
Affle India8 August 2019Mainboard74545986.91x926873.65+24.30%+17.27%
IndiaMART Intermesh4 July 2019Mainboard973475.5936.21x1,1801,301.95+21.27%+33.81%
Aavas Financiers8 October 2018Mainboard8211,640.320.97x750774.35-8.65%-5.68%
Creditaccess Grameen23 August 2018Mainboard4221,131.192.22x390422.05-7.58%+0.01%
HDFC AMC6 August 2018Mainboard1,1002,800.3382.99x1,726.251,815.95+56.93%+65.09%
Sandhar Technologies2 April 2018Mainboard332512.486.14x346.10322.15+4.25%-2.97%
Aster DM Healthcare26 February 2018Mainboard190980.101.31x183181.55-3.68%-4.45%
Galaxy Surfactants8 February 2018Mainboard1,480937.0919.96x1,5251,700.45+3.04%+14.90%
Newgen Software29 January 2018Mainboard245424.628.25x254.10252.40+3.71%+3.02%