Marwadi Chandarana Intermediaries Brokers: IPO Track Record
SME, mostly on BSE. Small but frequent gains: 11 of 13 opened above the issue price, with a median gain at open of 1.54%.
Listed IPOs
13
13 SME
Amount raised
INR 501.48 crore
2024 to 2026
Median gain at open
+1.54%
listing day, vs issue price
Median gain at close
+1.65%
listing day, vs issue price
Opened above issue price
84.62%
share of listings
Closed below issue price
23.08%
on listing day
Median subscription
16.02x
total, final day
Vs same-year IPOs
-1.01
percentage points; median gap at open
Best listing: Kabra Jewels (+90% at open, 22 January 2025). Weakest: Sampat Aluminium (0% at open, 24 September 2025).
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 | 5 | +2.27% | +1.15% | 100% | 6.80x |
| 2025 | 7 | +1.20% | +1.65% | 71.43% | 101.07x |
| 2024 | 1 | +90% | +99.49% | 100% | 1,050.62x |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Coreintegra Consulting | 30 September 2026 | SME (NSE) | 78 | 21.99 | 1.45x | 78.10 | 78.90 | +0.13% | +1.15% |
| HR Hygiene Products | 5 August 2026 | SME (BSE) | 88 | 53.95 | 6.73x | 90 | 87.97 | +2.27% | -0.03% |
| Shreedhar Spinners | 1 July 2026 | SME (NSE) | 53 | 30.68 | 6.80x | 54.40 | 57.10 | +2.64% | +7.74% |
| Vahh Chemicals | 11 June 2026 | SME (BSE) | 60 | 13.45 | 87.21x | 70 | 66.50 | +16.67% | +10.83% |
| PAN HR Solution | 13 February 2026 | SME (BSE) | 78 | 17.04 | 12.36x | 78.35 | 78.01 | +0.45% | +0.01% |
| Global Ocean Logistics | 24 December 2025 | SME (BSE) | 78 | 30.41 | 13.71x | 79.20 | 79.29 | +1.54% | +1.65% |
| Ravelcare | 8 December 2025 | SME (BSE) | 130 | 24.10 | 437.67x | 201 | 190.95 | +54.62% | +46.88% |
| Mother Nutri Foods | 3 December 2025 | SME (BSE) | 117 | 39.59 | 16.02x | 118.40 | 124.30 | +1.20% | +6.24% |
| Sampat Aluminium | 24 September 2025 | SME (BSE) | 120 | 30.53 | 169.30x | 120 | 115.15 | 0% | -4.04% |
| Monika Alcobev | 23 July 2025 | SME (BSE) | 286 | 165.63 | 4.19x | 288 | 288 | +0.70% | +0.70% |
| NR Vandana Tex | 4 June 2025 | SME (NSE) | 45 | 27.89 | 101.07x | 45 | 43.70 | 0% | -2.89% |
| Kabra Jewels | 22 January 2025 | SME (NSE) | 128 | 40 | 356.17x | 243.20 | 255.35 | +90% | +99.49% |
| Hamps Bio | 20 December 2024 | SME (BSE) | 51 | 6.22 | 1,050.62x | 96.90 | 101.74 | +90% | +99.49% |