Intensive Fiscal Services: IPO Track Record
Mainboard. Only 2 of its 13 IPOs closed below the issue price on listing day, and they opened a median 4.25 percentage points above same-year listings.
Listed IPOs
13
13 mainboard
Amount raised
INR 26,135.77 crore
2020 to 2026
Median gain at open
+9.39%
listing day, vs issue price
Median gain at close
+7.09%
listing day, vs issue price
Opened above issue price
69.23%
share of listings
Closed below issue price
15.38%
on listing day
Median subscription
36.15x
total, final day
Vs same-year IPOs
+4.25
percentage points; median gap at open
Best listing: Chemcon Speciality Chemicals (+115% at open, 1 October 2020). Weakest: Gopal Snacks (-12.47% at open, 14 March 2024).
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 | 1 | +21.95% | +15.25% | 100% | 111.14x |
| 2025 | 4 | +3.83% | +1.65% | 50% | 18.30x |
| 2024 | 4 | +16.66% | +23.16% | 50% | 33.97x |
| 2023 | 1 | +2.03% | +11.28% | 100% | 36.15x |
| 2022 | 1 | +7.60% | +5.82% | 100% | 26.67x |
| 2021 | 1 | +49.18% | +53.28% | 100% | 64.54x |
| 2020 | 1 | +115% | +72% | 100% | 149.30x |
All 13 IPOs Managed
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Augmont Enterprises | 31 August 2026 | Mainboard | 788 | 825 | 111.14x | 961 | 908.15 | +21.95% | +15.25% |
| Park Medi World | 17 December 2025 | Mainboard | 162 | 920 | 8.10x | 158.80 | 147.95 | -1.98% | -8.67% |
| Lenskart Solutions | 10 November 2025 | Mainboard | 402 | 7,278.02 | 28.25x | 395 | 403.10 | -1.74% | +0.27% |
| Midwest | 24 October 2025 | Mainboard | 1,065 | 451 | 87.86x | 1,165 | 1,140.50 | +9.39% | +7.09% |
| All Time Plastics | 14 August 2025 | Mainboard | 275 | 400.60 | 8.34x | 311.30 | 283.30 | +13.20% | +3.02% |
| Vishal Mega Mart | 18 December 2024 | Mainboard | 78 | 8,000 | 27.28x | 104 | 111.93 | +33.33% | +43.50% |
| Waaree Energies | 28 October 2024 | Mainboard | 1,503 | 4,321.44 | 76.34x | 2,500 | 2,338.90 | +66.33% | +55.62% |
| Baazar Style Retail | 6 September 2024 | Mainboard | 389 | 834.68 | 40.66x | 389 | 400 | 0% | +2.83% |
| Gopal Snacks | 14 March 2024 | Mainboard | 401 | 650 | 9.02x | 351 | 362.70 | -12.47% | -9.55% |
| Yatharth Hospital | 7 August 2023 | Mainboard | 300 | 686.55 | 36.15x | 306.10 | 333.85 | +2.03% | +11.28% |
| Bikaji Foods | 16 November 2022 | Mainboard | 300 | 880.84 | 26.67x | 322.80 | 317.45 | +7.60% | +5.82% |
| Ami Organics | 14 September 2021 | Mainboard | 610 | 569.64 | 64.54x | 910 | 935 | +49.18% | +53.28% |
| Chemcon Speciality Chemicals | 1 October 2020 | Mainboard | 340 | 318 | 149.30x | 731 | 584.80 | +115% | +72% |