JP Morgan India: IPO Track Record
Median subscription is only 5.71x, yet 75.68% of its IPOs opened above the issue price. The median gain at close (16.63%) is about double the median at open (7.69%).
Listed IPOs
37
37 mainboard
Amount raised
INR 2,62,033.49 crore
2018 to 2026
Median gain at open
+7.69%
listing day, vs issue price
Median gain at close
+16.63%
listing day, vs issue price
Opened above issue price
75.68%
share of listings
Closed below issue price
27.03%
on listing day
Median subscription
5.71x
total, final day
Vs same-year IPOs
-2.58
percentage points; median gap at open
Best listing: Premier Energies (+120% at open, 3 September 2024). Weakest: Nuvoco Vistas (-14.91% at open, 23 August 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 | 4 | +5.67% | +7.44% | 75% | 5.31x |
| 2025 | 10 | +10.75% | +20.82% | 90% | 11.05x |
| 2024 | 8 | +32.39% | +30.58% | 87.50% | 39.98x |
| 2023 | 4 | +7.46% | +11.76% | 100% | 7.78x |
| 2022 | 4 | -3.60% | -4.18% | 25% | 7.69x |
| 2021 | 4 | -9.79% | -5.49% | 25% | 1.80x |
| 2018 | 3 | +33.07% | +27.95% | 100% | 14.56x |
All 37 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% |
| Manipal Health | 5 August 2026 | Mainboard | 590 | 9,275.22 | 4.92x | 652 | 666.95 | +10.51% | +13.04% |
| Clean Max Enviro Energy | 2 March 2026 | Mainboard | 1,053 | 3,083.83 | 0.94x | 960 | 867.50 | -8.83% | -17.62% |
| Meesho | 10 December 2025 | Mainboard | 111 | 5,421.20 | 79.02x | 162.50 | 170.09 | +46.40% | +53.23% |
| Physicswallah | 18 November 2025 | Mainboard | 109 | 3,480 | 1.81x | 145 | 155.24 | +33.03% | +42.42% |
| Pine Labs | 14 November 2025 | Mainboard | 221 | 3,899.91 | 2.46x | 242 | 250.89 | +9.50% | +13.52% |
| Billionbrains Garage Ventures (Groww) | 12 November 2025 | Mainboard | 100 | 6,632.30 | 17.60x | 112 | 131.33 | +12% | +31.33% |
| Orkla India | 6 November 2025 | Mainboard | 730 | 1,667.33 | 48.73x | 750.10 | 713.65 | +2.75% | -2.24% |
| LG Electronics India | 14 October 2025 | Mainboard | 1,140 | 11,604.73 | 54.02x | 1,710.10 | 1,689.90 | +50.01% | +48.24% |
| Tata Capital | 13 October 2025 | Mainboard | 326 | 15,511.87 | 1.95x | 330 | 330.50 | +1.23% | +1.38% |
| Anthem Biosciences | 21 July 2025 | Mainboard | 570 | 3,395 | 63.86x | 723.05 | 730.35 | +26.85% | +28.13% |
| Schloss Bangalore | 2 June 2025 | Mainboard | 435 | 3,500 | 4.50x | 406 | 435.55 | -6.67% | +0.13% |
| Hexaware Technologies | 19 February 2025 | Mainboard | 708 | 8,750 | 2.66x | 745.50 | 762.55 | +5.30% | +7.70% |
| Inventurus Knowledge Solutions | 19 December 2024 | Mainboard | 1,329 | 2,497.92 | 52.68x | 1,900 | 1,960.85 | +42.96% | +47.54% |
| Vishal Mega Mart | 18 December 2024 | Mainboard | 78 | 8,000 | 27.28x | 104 | 111.93 | +33.33% | +43.50% |
| Swiggy | 13 November 2024 | Mainboard | 390 | 11,327.43 | 3.59x | 420 | 456 | +7.69% | +16.92% |
| Sagility India | 12 November 2024 | Mainboard | 30 | 2,106.40 | 3.20x | 31.06 | 29.32 | +3.53% | -2.27% |
| Hyundai Motor India | 22 October 2024 | Mainboard | 1,960 | 27,858.75 | 2.37x | 1,934 | 1,819.60 | -1.33% | -7.16% |
| Premier Energies | 3 September 2024 | Mainboard | 450 | 2,830.40 | 74.38x | 990 | 839.90 | +120% | +86.64% |
| Emcure Pharmaceuticals | 10 July 2024 | Mainboard | 1,008 | 1,952.03 | 67.84x | 1,325.05 | 1,359.15 | +31.45% | +34.84% |
| Indegene | 13 May 2024 | Mainboard | 452 | 1,841.76 | 69.63x | 655 | 570.90 | +44.91% | +26.31% |
| Honasa Consumer (Mamaearth) | 7 November 2023 | Mainboard | 324 | 1,701.44 | 7.61x | 330 | 337.10 | +1.85% | +4.04% |
| Blue Jet Healthcare | 1 November 2023 | Mainboard | 346 | 840.27 | 7.95x | 380 | 413.40 | +9.83% | +19.48% |
| TVS Supply Chain Solutions | 23 August 2023 | Mainboard | 197 | 880 | 2.78x | 207.05 | 201 | +5.10% | +2.03% |
| Mankind Pharma | 9 May 2023 | Mainboard | 1,080 | 4,326.36 | 15.32x | 1,300 | 1,422.30 | +20.37% | +31.69% |
| KFin Technologies | 29 December 2022 | Mainboard | 366 | 1,500 | 2.59x | 367 | 363.85 | +0.27% | -0.59% |
| LIC | 17 May 2022 | Mainboard | 949 | 20,557.23 | 2.95x | 872 | 875.25 | -8.11% | -7.77% |
| Rainbow Hospital | 10 May 2022 | Mainboard | 542 | 1,580.85 | 12.43x | 510 | 450.20 | -5.90% | -16.94% |
| Adani Wilmar | 8 February 2022 | Mainboard | 230 | 3,600 | 17.37x | 227 | 268.25 | -1.30% | +16.63% |
| One97 Communications (Paytm) | 18 November 2021 | Mainboard | 2,150 | 18,300 | 1.89x | 1,950 | 1,560.80 | -9.30% | -27.40% |
| Nuvoco Vistas | 23 August 2021 | Mainboard | 570 | 5,000 | 1.71x | 485 | 531.70 | -14.91% | -6.72% |
| Sona BLW | 24 June 2021 | Mainboard | 291 | 5,550 | 2.28x | 301 | 361.20 | +3.44% | +24.12% |
| Macrotech Developers (Lodha) | 19 April 2021 | Mainboard | 486 | 2,500 | 1.36x | 436 | 465.25 | -10.29% | -4.27% |
| HDFC AMC | 6 August 2018 | Mainboard | 1,100 | 2,800.33 | 82.99x | 1,726.25 | 1,815.95 | +56.93% | +65.09% |
| Lemon Tree Hotels | 9 April 2018 | Mainboard | 56 | 1,038.69 | 1.19x | 61.60 | 71.65 | +10% | +27.95% |
| Bandhan Bank | 27 March 2018 | Mainboard | 375 | 4,473.02 | 14.56x | 499 | 476.85 | +33.07% | +27.16% |