JM Financial: IPO Track Record
Mainboard only. Its IPOs opened in line with others listing in the same year (median difference −0.30 percentage points). Listings since 2025 have been weaker: a median gain at open of 5.04% across 52 IPOs, against 10.57% across 83 before.
Listed IPOs
135
135 mainboard
Amount raised
INR 2,97,853.45 crore
2018 to 2026
Median gain at open
+7.55%
listing day, vs issue price
Median gain at close
+11.10%
listing day, vs issue price
Opened above issue price
72.59%
share of listings
Closed below issue price
27.41%
on listing day
Median subscription
20.10x
total, final day
Vs same-year IPOs
-0.30
percentage points; median gap at open
Best listing: Tata Technologies (+140% at open, 30 November 2023). Weakest: ACME Solar (-13.15% at open, 13 November 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 | 26 | +6.15% | +8.66% | 73.08% | 14.80x |
| 2025 | 26 | +3.84% | +6.23% | 65.38% | 15.07x |
| 2024 | 18 | +10.25% | +8.72% | 72.22% | 22.16x |
| 2023 | 18 | +10.78% | +18.30% | 77.78% | 38.13x |
| 2022 | 12 | +6.18% | +5.17% | 58.33% | 17.45x |
| 2021 | 20 | +26.77% | +23.52% | 90% | 87.59x |
| 2020 | 4 | +21.23% | +8.99% | 50% | 79.48x |
| 2019 | 5 | +5% | +4.18% | 60% | 2.21x |
| 2018 | 6 | +4.50% | +9.99% | 83.33% | 11.66x |
All 135 IPOs Managed
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Paras Healthcare | 28 October 2026 | Mainboard | 693 | 1,450 | 2.34x | 720 | 735.60 | +3.90% | +6.15% |
| Jio Platforms | 28 October 2026 | Mainboard | 1,119 | 30,187.65 | 22.19x | 1,358 | 1,417.50 | +21.36% | +26.68% |
| Zetwerk | 23 October 2026 | Mainboard | 151 | 5,012.33 | 3.10x | 159.25 | 138.25 | +5.46% | -8.44% |
| Tonbo Imaging | 23 October 2026 | Mainboard | 700 | 852.09 | 135.90x | 1,160 | 1,133.80 | +65.71% | +61.97% |
| Orient Cables | 5 October 2026 | Mainboard | 272 | 552 | 97.28x | 450 | 405 | +65.44% | +48.90% |
| Elevate Campuses | 30 September 2026 | Mainboard | 362 | 2,100 | 1.89x | 355.10 | 322.95 | -1.91% | -10.79% |
| Varmora Granito | 29 September 2026 | Mainboard | 148 | 708.02 | 1.60x | 155 | 152.19 | +4.73% | +2.83% |
| National Stock Exchange | 24 September 2026 | Mainboard | 1,785 | 22,561.57 | 5.71x | 1,800 | 1,818 | +0.84% | +1.85% |
| Hero Motors | 23 September 2026 | Mainboard | 84 | 1,000 | 7.08x | 82 | 98.40 | -2.38% | +17.14% |
| Karamtara Engineering | 17 September 2026 | Mainboard | 254 | 875 | 66.01x | 320 | 352 | +25.98% | +38.58% |
| ARCIL | 17 September 2026 | Mainboard | 139 | 732.97 | 20.10x | 139 | 137.02 | 0% | -1.42% |
| Lumino Industries | 3 September 2026 | Mainboard | 82 | 700 | 124.81x | 110 | 110.32 | +34.15% | +34.54% |
| Symbiotec Pharmalab | 1 September 2026 | Mainboard | 988 | 1,757 | 75.06x | 988 | 1,097.70 | 0% | +11.10% |
| Augmont Enterprises | 31 August 2026 | Mainboard | 788 | 825 | 111.14x | 961 | 908.15 | +21.95% | +15.25% |
| Tempsens Instruments | 28 August 2026 | Mainboard | 300 | 650 | 184.07x | 634 | 586.65 | +111.33% | +95.55% |
| Gaja Alternative | 26 August 2026 | Mainboard | 160 | 550 | 32.98x | 185 | 168.67 | +15.62% | +5.42% |
| 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% |
| LEAP India | 14 August 2026 | Mainboard | 159 | 2,480 | 8.38x | 165.90 | 144.93 | +4.34% | -8.85% |
| Juniper Green Energy | 6 August 2026 | Mainboard | 225 | 1,800 | 8.38x | 245 | 259.71 | +8.89% | +15.43% |
| SBI Funds Management | 21 July 2026 | Mainboard | 574 | 9,795.32 | 41.66x | 613.30 | 609.75 | +6.85% | +6.23% |
| Turtlemint Fintech | 29 June 2026 | Mainboard | 152 | 882.67 | 1.20x | 134.90 | 135.37 | -11.25% | -10.94% |
| OnEMI Technologies (Kissht) | 8 May 2026 | Mainboard | 171 | 925.92 | 9.50x | 190 | 208.63 | +11.11% | +22.01% |
| Aye Finance | 16 February 2026 | Mainboard | 129 | 1,010 | 0.97x | 129 | 128.91 | 0% | -0.07% |
| Shadowfax Technologies | 28 January 2026 | Mainboard | 124 | 1,907.27 | 2.72x | 112.60 | 109.98 | -9.19% | -11.31% |
| ICICI Prudential AMC | 19 December 2025 | Mainboard | 2,165 | 10,602.65 | 39.17x | 2,600 | 2,585.90 | +20.09% | +19.44% |
| Corona Remedies | 15 December 2025 | Mainboard | 1,062 | 655.37 | 137.04x | 1,470 | 1,438.40 | +38.42% | +35.44% |
| Aequs | 10 December 2025 | Mainboard | 124 | 921.81 | 101.63x | 140 | 151.29 | +12.90% | +22.01% |
| Capillary Technologies | 21 November 2025 | Mainboard | 577 | 877.50 | 52.95x | 571.90 | 606.50 | -0.88% | +5.11% |
| Tenneco Clean Air India | 19 November 2025 | Mainboard | 397 | 3,600 | 58.83x | 505 | 490.80 | +27.20% | +23.63% |
| Emmvee Photovoltaic Power | 18 November 2025 | Mainboard | 217 | 2,900 | 0.97x | 217 | 219.40 | 0% | +1.11% |
| Canara HSBC Life Insurance Company | 17 October 2025 | Mainboard | 106 | 2,515.95 | 2.29x | 106 | 111.42 | 0% | +5.11% |
| 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% |
| WeWork India | 10 October 2025 | Mainboard | 648 | 2,999.64 | 1.15x | 650 | 628.65 | +0.31% | -2.99% |
| Urban Company | 17 September 2025 | Mainboard | 103 | 1,900 | 103.63x | 162.25 | 166.83 | +57.52% | +61.97% |
| Vikram Solar | 26 August 2025 | Mainboard | 332 | 2,079.37 | 54.63x | 338 | 356.40 | +1.81% | +7.35% |
| JSW Cement | 14 August 2025 | Mainboard | 147 | 3,600 | 7.77x | 153.50 | 146.07 | +4.42% | -0.63% |
| Brigade Hotel Ventures | 31 July 2025 | Mainboard | 90 | 759.60 | 4.48x | 81.10 | 85.32 | -9.89% | -5.20% |
| IndiQube Spaces | 30 July 2025 | Mainboard | 237 | 700 | 12.41x | 216 | 217.97 | -8.86% | -8.03% |
| GNG Electronics | 30 July 2025 | Mainboard | 237 | 460.44 | 147.93x | 355 | 333.39 | +49.79% | +40.67% |
| Anthem Biosciences | 21 July 2025 | Mainboard | 570 | 3,395 | 63.86x | 723.05 | 730.35 | +26.85% | +28.13% |
| Smartworks Coworking Spaces | 17 July 2025 | Mainboard | 407 | 582.88 | 13.45x | 435 | 445.05 | +6.88% | +9.35% |
| HDB Financial Services | 2 July 2025 | Mainboard | 740 | 12,500 | 16.69x | 835 | 840.95 | +12.84% | +13.64% |
| Kalpataru | 1 July 2025 | Mainboard | 414 | 1,590 | 2.26x | 414 | 432.95 | 0% | +4.58% |
| Ellenbarrie Industrial Gases | 1 July 2025 | Mainboard | 400 | 852.53 | 22.19x | 486 | 534.60 | +21.50% | +33.65% |
| ArisInfra Solutions | 25 June 2025 | Mainboard | 222 | 499.60 | 2.65x | 205 | 174.38 | -7.66% | -21.45% |
| 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% |
| Ather Energy | 6 May 2025 | Mainboard | 321 | 2,980.80 | 1.43x | 328 | 302.30 | +2.18% | -5.83% |
| Ajax Engineering | 17 February 2025 | Mainboard | 629 | 1,268.88 | 6.45x | 576 | 595.40 | -8.43% | -5.34% |
| Ventive Hospitality | 30 December 2024 | Mainboard | 643 | 1,600 | 9.80x | 716 | 704.35 | +11.35% | +9.54% |
| Inventurus Knowledge Solutions | 19 December 2024 | Mainboard | 1,329 | 2,497.92 | 52.68x | 1,900 | 1,960.85 | +42.96% | +47.54% |
| Zinka Logistics | 22 November 2024 | Mainboard | 273 | 1,114.72 | 1.86x | 280.90 | 260.05 | +2.89% | -4.74% |
| ACME Solar | 13 November 2024 | Mainboard | 289 | 2,900 | 2.75x | 251 | 253.15 | -13.15% | -12.40% |
| Western Carriers | 24 September 2024 | Mainboard | 172 | 492.88 | 30.57x | 171 | 159.44 | -0.58% | -7.30% |
| 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% |
| Brainbees Solutions | 13 August 2024 | Mainboard | 465 | 4,193.73 | 12.22x | 651 | 679.10 | +40% | +46.04% |
| Ceigall India | 8 August 2024 | Mainboard | 401 | 1,252.66 | 13.74x | 419 | 386.75 | +4.49% | -3.55% |
| 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% |
| TBO Tek | 15 May 2024 | Mainboard | 920 | 1,550.81 | 86.50x | 1,426 | 1,406.30 | +55% | +52.86% |
| Gopal Snacks | 14 March 2024 | Mainboard | 401 | 650 | 9.02x | 351 | 362.70 | -12.47% | -9.55% |
| GPT Healthcare | 29 February 2024 | Mainboard | 186 | 525.14 | 8.52x | 215 | 200.70 | +15.59% | +7.90% |
| Juniper Hotels | 28 February 2024 | Mainboard | 360 | 1,800 | 2.07x | 365 | 401.50 | +1.39% | +11.53% |
| Entero Healthcare | 16 February 2024 | Mainboard | 1,258 | 1,600 | 1.53x | 1,228.70 | 1,149.55 | -2.33% | -8.62% |
| Rashi Peripherals | 14 February 2024 | Mainboard | 311 | 600 | 59.71x | 339.50 | 321.50 | +9.16% | +3.38% |
| Apeejay Surrendra Park Hotels | 12 February 2024 | Mainboard | 155 | 920 | 59.66x | 186 | 203.55 | +20% | +31.32% |
| Innova Captab | 29 December 2023 | Mainboard | 448 | 570 | 55.26x | 452.10 | 541.40 | +0.92% | +20.85% |
| 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% |
| DOMS Industries | 20 December 2023 | Mainboard | 790 | 1,200 | 93.40x | 1,400 | 1,326.05 | +77.22% | +67.85% |
| Tata Technologies | 30 November 2023 | Mainboard | 500 | 3,042.51 | 69.43x | 1,200 | 1,313 | +140% | +162.60% |
| Fedbank Financial Services | 30 November 2023 | Mainboard | 140 | 1,092.26 | 2.20x | 138 | 140.25 | -1.43% | +0.18% |
| ASK Automotive | 15 November 2023 | Mainboard | 282 | 833.91 | 51.14x | 303.30 | 310.10 | +7.55% | +9.96% |
| Honasa Consumer (Mamaearth) | 7 November 2023 | Mainboard | 324 | 1,701.44 | 7.61x | 330 | 337.10 | +1.85% | +4.04% |
| Cello World | 6 November 2023 | Mainboard | 648 | 1,900 | 38.90x | 829 | 791.70 | +27.93% | +22.18% |
| JSW Infra | 3 October 2023 | Mainboard | 119 | 2,800 | 37.37x | 143 | 157.30 | +20.17% | +32.18% |
| Zaggle Prepaid Ocean Services | 22 September 2023 | Mainboard | 164 | 563.38 | 12.55x | 164 | 158.35 | 0% | -3.45% |
| Samhi Hotels | 22 September 2023 | Mainboard | 126 | 1,370.10 | 5.33x | 134.50 | 143.40 | +6.75% | +13.81% |
| RR Kabel | 20 September 2023 | Mainboard | 1,035 | 1,964.01 | 18.69x | 1,180 | 1,198.05 | +14.01% | +15.75% |
| Jupiter Life Line Hospitals | 18 September 2023 | Mainboard | 735 | 869.08 | 63.72x | 973 | 1,075.75 | +32.38% | +46.36% |
| TVS Supply Chain Solutions | 23 August 2023 | Mainboard | 197 | 880 | 2.78x | 207.05 | 201 | +5.10% | +2.03% |
| Cyient DLM | 10 July 2023 | Mainboard | 265 | 592 | 67.31x | 403 | 420.60 | +52.08% | +58.72% |
| IdeaForge Technology | 7 July 2023 | Mainboard | 672 | 567.24 | 106.06x | 1,300 | 1,294.95 | +93.45% | +92.70% |
| Avalon Technologies | 18 April 2023 | Mainboard | 436 | 865 | 2.21x | 436 | 398 | 0% | -8.72% |
| Elin Electronics | 30 December 2022 | Mainboard | 247 | 475 | 3.09x | 244 | 227.65 | -1.21% | -7.83% |
| Uniparts India | 12 December 2022 | Mainboard | 577 | 835.61 | 25.32x | 575 | 539.65 | -0.35% | -6.47% |
| Archean Chemical Industries | 21 November 2022 | Mainboard | 407 | 1,462.30 | 32.23x | 450 | 458.15 | +10.57% | +12.57% |
| Global Health (Medanta) | 16 November 2022 | Mainboard | 336 | 2,205.57 | 9.58x | 401 | 415.30 | +19.35% | +23.60% |
| Bikaji Foods | 16 November 2022 | Mainboard | 300 | 880.84 | 26.67x | 322.80 | 317.45 | +7.60% | +5.82% |
| Fusion Microfinance | 15 November 2022 | Mainboard | 368 | 1,103.99 | 2.95x | 359.50 | 324.80 | -2.31% | -11.74% |
| Electronics Mart | 17 October 2022 | Mainboard | 59 | 500 | 71.93x | 90 | 84.50 | +52.54% | +43.22% |
| Harsha Engineers | 26 September 2022 | Mainboard | 330 | 755 | 74.70x | 450 | 486.50 | +36.36% | +47.42% |
| Paradeep Phosphates | 27 May 2022 | Mainboard | 42 | 1,501.73 | 1.75x | 44 | 43.90 | +4.76% | +4.52% |
| LIC | 17 May 2022 | Mainboard | 949 | 20,557.23 | 2.95x | 872 | 875.25 | -8.11% | -7.77% |
| Campus Shoes | 9 May 2022 | Mainboard | 292 | 1,399.60 | 51.75x | 360 | 378.90 | +23.29% | +29.76% |
| AGS Transact | 31 January 2022 | Mainboard | 175 | 680 | 7.79x | 175 | 161.05 | 0% | -7.97% |
| CMS Infosystems | 31 December 2021 | Mainboard | 216 | 1,100 | 1.95x | 220.20 | 238.20 | +1.94% | +10.28% |
| Data Patterns | 24 December 2021 | Mainboard | 585 | 588.22 | 119.62x | 856.05 | 755 | +46.33% | +29.06% |
| CE Infosystems (MapMyIndia) | 21 December 2021 | Mainboard | 1,033 | 1,039.61 | 154.71x | 1,565 | 1,393.65 | +51.50% | +34.91% |
| Tega Industries | 13 December 2021 | Mainboard | 453 | 619.23 | 219.04x | 760 | 726.05 | +67.77% | +60.28% |
| Go Fashion | 30 November 2021 | Mainboard | 690 | 1,013.61 | 135.46x | 1,310 | 1,253.70 | +89.86% | +81.70% |
| Sapphire Foods | 18 November 2021 | Mainboard | 1,180 | 2,073.25 | 6.62x | 1,350 | 1,211.55 | +14.41% | +2.67% |
| FSN E-commerce (Nykaa) | 10 November 2021 | Mainboard | 1,125 | 5,349.72 | 81.78x | 2,018 | 2,205.80 | +79.38% | +96.07% |
| Aditya Birla AMC | 11 October 2021 | Mainboard | 712 | 2,768.26 | 5.25x | 715 | 699.45 | +0.42% | -1.76% |
| Krsnaa Diagnostics | 16 August 2021 | Mainboard | 954 | 1,214.60 | 64.38x | 1,005.55 | 987 | +5.40% | +3.46% |
| Rolex Rings | 9 August 2021 | Mainboard | 900 | 731 | 130.44x | 1,250 | 1,167 | +38.89% | +29.67% |
| Tatva Chintan Pharma | 29 July 2021 | Mainboard | 1,083 | 500 | 180.36x | 2,111.85 | 2,312.20 | +95% | +113.50% |
| 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% |
| Sona BLW | 24 June 2021 | Mainboard | 291 | 5,550 | 2.28x | 301 | 361.20 | +3.44% | +24.12% |
| 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% |
| 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% |
| MTAR Technologies | 15 March 2021 | Mainboard | 575 | 596.41 | 200.79x | 1,050 | 1,082.50 | +82.61% | +88.26% |
| Stove Kraft | 5 February 2021 | Mainboard | 385 | 412.63 | 18.03x | 498 | 445.95 | +29.35% | +15.83% |
| Burger King India (Restaurant Brands Asia) | 14 December 2020 | Mainboard | 60 | 810 | 156.65x | 112.50 | 135 | +87.50% | +125% |
| Equitas Small Finance Bank | 2 November 2020 | Mainboard | 33 | 517.60 | 1.95x | 31.10 | 32.80 | -5.76% | -0.61% |
| 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% |
| Prince Pipes | 30 December 2019 | Mainboard | 178 | 500 | 2.21x | 160 | 166.90 | -10.11% | -6.24% |
| Ujjivan Small Finance Bank | 12 December 2019 | Mainboard | 37 | 745.95 | 165.66x | 58.75 | 55.95 | +58.78% | +51.22% |
| Spandana Sphoorti Financial | 19 August 2019 | Mainboard | 856 | 1,189.85 | 1.05x | 825 | 847.80 | -3.62% | -0.96% |
| Metropolis Healthcare | 15 April 2019 | Mainboard | 880 | 1,204.29 | 5.83x | 958 | 959.85 | +8.86% | +9.07% |
| Chalet Hotels | 7 February 2019 | Mainboard | 280 | 1,641.18 | 1.57x | 294 | 291.70 | +5% | +4.18% |
| HDFC AMC | 6 August 2018 | Mainboard | 1,100 | 2,800.33 | 82.99x | 1,726.25 | 1,815.95 | +56.93% | +65.09% |
| Fine Organics | 2 July 2018 | Mainboard | 783 | 600.17 | 8.77x | 815 | 822.80 | +4.09% | +5.08% |
| Indostar Capital Finance | 21 May 2018 | Mainboard | 572 | 1,844 | 6.65x | 600 | 586.10 | +4.90% | +2.47% |
| 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% |
| Galaxy Surfactants | 8 February 2018 | Mainboard | 1,480 | 937.09 | 19.96x | 1,525 | 1,700.45 | +3.04% | +14.90% |