Unistone Capital: IPO Track Record
A mix of mainboard (15) and SME (22). 21 of its 22 IPOs before 2025 opened above the issue price; since 2025, 9 of 15 have.
Listed IPOs
37
15 mainboard, 22 SME
Amount raised
INR 4,779.80 crore
2020 to 2026
Median gain at open
+10%
listing day, vs issue price
Median gain at close
+15.50%
listing day, vs issue price
Opened above issue price
81.08%
share of listings
Closed below issue price
18.92%
on listing day
Median subscription
16.63x
total, final day
Vs same-year IPOs
-0.50
percentage points; median gap at open
Best listing: Sigachi Industries (+249.69% at open, 15 November 2021). Weakest: Arunaya Organics (-48.10% at open, 7 May 2025).
An IPO with several lead managers counts towards each of them.
Mainboard vs SME
| Segment | IPOs | Median gain at open | Median gain at close | Opened above issue | Closed below issue | Median subscription |
|---|---|---|---|---|---|---|
| Mainboard | 15 | +17.14% | +22.18% | 100% | 13.33% | 99.37x |
| SME | 22 | +6.04% | +5.21% | 68.18% | 22.73% | 11.13x |
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 2 | -10% | -7.82% | 0% | 1.96x |
| 2025 | 13 | +3.84% | +2.86% | 69.23% | 5.78x |
| 2024 | 11 | +21.25% | +27.31% | 90.91% | 107.38x |
| 2023 | 8 | +16.48% | +21.89% | 100% | 16.25x |
| 2021 | 2 | +132.32% | +143.94% | 100% | 61.44x |
| 2020 | 1 | +8.33% | +13.75% | 100% | 9.51x |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Propshop Events | 3 August 2026 | SME (NSE) | 69 | 28.57 | 1.58x | 55.20 | 57.15 | -20% | -17.17% |
| Speciality Medicines | 30 March 2026 | SME (BSE) | 124 | 29.14 | 2.34x | 124 | 125.90 | 0% | +1.53% |
| SPEB Adhesives | 8 December 2025 | SME (NSE) | 56 | 33.73 | 2.48x | 60 | 57 | +7.14% | +1.79% |
| Suba Hotels | 7 October 2025 | SME (NSE) | 111 | 75.47 | 15.40x | 154.20 | 161.90 | +38.92% | +45.86% |
| Fabtech Technologies | 7 October 2025 | Mainboard | 191 | 230.30 | 2.03x | 192 | 182.40 | +0.52% | -4.50% |
| Pace Digitek | 6 October 2025 | Mainboard | 219 | 819.15 | 1.59x | 225 | 217.99 | +2.74% | -0.46% |
| Vigor Plast India | 12 September 2025 | SME (NSE) | 81 | 25.10 | 3.95x | 85 | 85.70 | +4.94% | +5.80% |
| Sawaliya Food Products | 14 August 2025 | SME (NSE) | 120 | 34.83 | 13.39x | 228 | 239.40 | +90% | +99.50% |
| Jyoti Global Plast | 11 August 2025 | SME (NSE) | 66 | 35.44 | 8.53x | 65.90 | 65.80 | -0.15% | -0.30% |
| Bhadora Industries | 11 August 2025 | SME (NSE) | 103 | 55.62 | 1.04x | 101 | 105.95 | -1.94% | +2.86% |
| Patel Chem Specialities | 1 August 2025 | SME (BSE) | 84 | 58.80 | 167.44x | 110 | 104.50 | +30.95% | +24.40% |
| Savy Infra and Logistics | 28 July 2025 | SME (NSE) | 120 | 69.98 | 114.58x | 136.50 | 143.30 | +13.75% | +19.42% |
| Arunaya Organics | 7 May 2025 | SME (NSE) | 58 | 33.99 | 2.58x | 30.10 | 31.60 | -48.10% | -45.52% |
| Chandan Healthcare | 17 February 2025 | SME (NSE) | 159 | 106.99 | 7.11x | 165.10 | 173.35 | +3.84% | +9.03% |
| Amwill Health Care | 12 February 2025 | SME (BSE) | 111 | 59.98 | 5.78x | 88.85 | 93.25 | -19.95% | -15.99% |
| Usha Financial Services | 31 October 2024 | SME (NSE) | 168 | 98.45 | 19.45x | 164 | 155.85 | -2.38% | -7.23% |
| OBSC Perfection | 29 October 2024 | SME (NSE) | 100 | 66.02 | 16.63x | 110 | 115.50 | +10% | +15.50% |
| Diffusion Engineers | 4 October 2024 | Mainboard | 168 | 157.96 | 114.34x | 193.50 | 203.17 | +15.18% | +20.93% |
| Deccan Transcon Leasing | 24 September 2024 | SME (NSE) | 108 | 65.06 | 101.81x | 116 | 110.25 | +7.41% | +2.08% |
| Arkade Developers | 24 September 2024 | Mainboard | 128 | 410 | 106.83x | 175 | 165.86 | +36.72% | +29.58% |
| Shree Tirupati Balajee Agro | 12 September 2024 | Mainboard | 83 | 169.65 | 124.74x | 90 | 94.50 | +8.43% | +13.86% |
| Saraswati Saree Depot | 20 August 2024 | Mainboard | 160 | 160.01 | 107.38x | 194 | 203.70 | +21.25% | +27.31% |
| Manglam Infra & Engineering | 31 July 2024 | SME (NSE) | 56 | 27.62 | 394.59x | 106.40 | 111.70 | +90% | +99.46% |
| Platinum Industries | 5 March 2024 | Mainboard | 171 | 235.32 | 99.37x | 225 | 221.20 | +31.58% | +29.36% |
| Exicom Tele-Systems | 5 March 2024 | Mainboard | 142 | 429 | 129.54x | 265 | 224.95 | +86.62% | +58.42% |
| BLS E-Services | 6 February 2024 | Mainboard | 135 | 309.29 | 162.47x | 305 | 366 | +125.93% | +171.11% |
| Valiant Laboratories | 6 October 2023 | Mainboard | 140 | 152.46 | 29.73x | 162.15 | 170.25 | +15.82% | +21.61% |
| Unihealth Consultancy | 21 September 2023 | SME (NSE) | 132 | 56.55 | 24.69x | 135 | 133 | +2.27% | +0.76% |
| Ratnaveer Precision Engineering | 11 September 2023 | Mainboard | 98 | 165.03 | 93.96x | 123.20 | 129.35 | +25.71% | +31.99% |
| Mono Pharmacare | 7 September 2023 | SME (NSE) | 28 | 14.84 | 12.77x | 29 | 30.45 | +3.57% | +8.75% |
| Sangani Hospitals | 17 August 2023 | SME (NSE) | 40 | 15.17 | 4.36x | 44 | 41.85 | +10% | +4.63% |
| Sahana System | 12 June 2023 | SME (NSE) | 135 | 32.74 | 9.49x | 163 | 171.15 | +20.74% | +26.78% |
| MOS Utility | 18 April 2023 | SME (NSE) | 76 | 49.97 | 19.74x | 90 | 94.50 | +18.42% | +24.34% |
| Global Surfaces | 23 March 2023 | Mainboard | 140 | 154.98 | 12.21x | 164 | 171.05 | +17.14% | +22.18% |
| HP Adhesives | 27 December 2021 | Mainboard | 274 | 125.96 | 20.96x | 315 | 330.75 | +14.96% | +20.71% |
| Sigachi Industries | 15 November 2021 | Mainboard | 163 | 125.43 | 101.91x | 570 | 598.50 | +249.69% | +267.18% |
| Likhitha Infrastructure | 15 October 2020 | Mainboard | 120 | 61.20 | 9.51x | 130 | 136.50 | +8.33% | +13.75% |