Cameo Corporate Services: IPO Track Record
Mostly SME. The lowest median gain at open among registrars with a page (2.83%); since 2025, 14 of 34 IPOs opened above the issue price.
Listed IPOs
68
4 mainboard, 64 SME
Amount raised
INR 3,018.01 crore
2023 to 2026
Median gain at open
+2.83%
listing day, vs issue price
Median gain at close
+3.82%
listing day, vs issue price
Opened above issue price
58.82%
share of listings
Closed below issue price
36.76%
on listing day
Median subscription
21.89x
total, final day
Vs same-year IPOs
-4.45
percentage points; median gap at open
Best listing: Presstonic Engineering (+94.44% at open, 18 December 2023). Weakest: Pushpa Jewellers (-23.81% at open, 7 July 2025).
Mainboard vs SME
| Segment | IPOs | Median gain at open | Median gain at close | Opened above issue | Closed below issue | Median subscription |
|---|---|---|---|---|---|---|
| Mainboard | 4 | +0.44% | -7.04% | 50% | 50% | 13.04x |
| SME | 64 | +3.53% | +3.82% | 59.38% | 35.94% | 21.89x |
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 9 | 0% | -5.69% | 22.22% | 2.17x |
| 2025 | 25 | 0% | +0.14% | 48% | 6.27x |
| 2024 | 17 | +15.96% | +21.60% | 82.35% | 107.50x |
| 2023 | 17 | +6.06% | +6.71% | 70.59% | 39.96x |
All 68 IPOs Handled
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| RK Fashion Accessories | 12 October 2026 | SME (NSE) | 82 | 34.99 | 2.75x | 80 | 76 | -2.44% | -7.32% |
| ArMee Infotech | 30 September 2026 | Mainboard | 375 | 300 | 2.62x | 375 | 300 | 0% | -20% |
| Mopshop Distribution | 26 August 2026 | SME (BSE) | 138 | 27.26 | 1.64x | 137 | 130.15 | -0.72% | -5.69% |
| Dhanwel Hybrid Seeds | 26 August 2026 | SME (BSE) | 99 | 26.73 | 1.71x | 99 | 94.05 | 0% | -5% |
| Fascinate Textiles | 24 August 2026 | SME (NSE) | 151 | 64.83 | – | 120.80 | 114.80 | -20% | -23.97% |
| Seemax Resources | 7 July 2026 | SME (BSE) | 141 | 19.74 | 3.67x | 112.80 | 107.20 | -20% | -23.97% |
| Diksha Polymers | 24 June 2026 | SME (BSE) | 112 | 17.90 | 2.94x | 114.50 | 120.20 | +2.23% | +7.32% |
| Utkal Speciality Industries | 17 June 2026 | SME (NSE) | 66 | 34.54 | 1.69x | 66 | 62.70 | 0% | -5% |
| Elfin Agro India | 12 March 2026 | SME (BSE) | 47 | 25.03 | 1.41x | 47.30 | 47.60 | +0.64% | +1.28% |
| Sundrex Oil | 30 December 2025 | SME (NSE) | 86 | 32.24 | 1.59x | 68.80 | 65.40 | -20% | -23.95% |
| Shipwaves Online | 17 December 2025 | SME (BSE) | 12 | 56.35 | 1.70x | 12 | 11.40 | 0% | -5% |
| Systematic Industries | 1 October 2025 | SME (BSE) | 195 | 115.60 | 6.27x | 193.80 | 196.45 | -0.62% | +0.74% |
| Gurunanak Agriculture | 1 October 2025 | SME (NSE) | 75 | 28.80 | 1.77x | 60 | 57 | -20% | -24% |
| BMW Ventures | 1 October 2025 | Mainboard | 99 | 231.66 | 1.50x | 78 | 74.10 | -21.21% | -25.15% |
| Sampat Aluminium | 24 September 2025 | SME (BSE) | 120 | 30.53 | 169.30x | 120 | 115.15 | 0% | -4.04% |
| LT Elevator | 19 September 2025 | SME (BSE) | 78 | 39.37 | 183.03x | 136.10 | 142.90 | +74.49% | +83.21% |
| Galaxy Medicare | 17 September 2025 | SME (NSE) | 54 | 22.31 | 1.89x | 54 | 51.30 | 0% | -5% |
| Krupalu Metals | 16 September 2025 | SME (BSE) | 72 | 13.48 | 1.25x | 57.60 | 60.48 | -20% | -16% |
| Optivalue Tek | 10 September 2025 | SME (NSE) | 84 | 51.82 | 64.52x | 103.60 | 102.60 | +23.33% | +22.14% |
| Icodex Publishing Solutions | 19 August 2025 | SME (BSE) | 102 | 42.03 | 4x | 81.60 | 77.55 | -20% | -23.97% |
| Medistep Healthcare | 18 August 2025 | SME (NSE) | 43 | 16.10 | 375.29x | 53 | 50.35 | +23.26% | +17.09% |
| Takyon Networks | 6 August 2025 | SME (BSE) | 54 | 20.48 | 21.89x | 55.85 | 55.72 | +3.43% | +3.19% |
| BD Industries | 6 August 2025 | SME (BSE) | 108 | 45.36 | 1.89x | 108.90 | 108.15 | +0.83% | +0.14% |
| Repono | 4 August 2025 | SME (BSE) | 96 | 26.68 | 65.11x | 89.99 | 87.09 | -6.26% | -9.28% |
| Pushpa Jewellers | 7 July 2025 | SME (NSE) | 147 | 98.65 | 2.52x | 112 | 117.60 | -23.81% | -20% |
| PRO FX Tech | 3 July 2025 | SME (NSE) | 87 | 40.30 | 25.50x | 95 | 99.75 | +9.20% | +14.66% |
| Rama Telecom | 2 July 2025 | SME (NSE) | 68 | 25.13 | 1.66x | 72 | 68.40 | +5.88% | +0.59% |
| NR Vandana Tex | 4 June 2025 | SME (NSE) | 45 | 27.89 | 101.07x | 45 | 43.70 | 0% | -2.89% |
| Spinaroo Commercial | 8 April 2025 | SME (BSE) | 51 | 10.17 | 1.57x | 52.85 | 54.44 | +3.63% | +6.75% |
| Shri Ahimsa Naturals | 2 April 2025 | SME (NSE) | 119 | 73.81 | 62.79x | 140 | 147 | +17.65% | +23.53% |
| NAPS Global India | 11 March 2025 | SME (BSE) | 90 | 11.88 | 1.24x | 108 | 102.60 | +20% | +14% |
| HM Electro Mech | 31 January 2025 | SME (BSE) | 75 | 27.74 | 92.57x | 81 | 77.04 | +8% | +2.72% |
| Rexpro Enterprises | 29 January 2025 | SME (NSE) | 145 | 53.65 | 17.77x | 117 | 111.15 | -19.31% | -23.34% |
| Kabra Jewels | 22 January 2025 | SME (NSE) | 128 | 40 | 356.17x | 243.20 | 255.35 | +90% | +99.49% |
| Phoenix Overseas | 27 September 2024 | SME (NSE) | 64 | 36.03 | 121.18x | 64 | 60.80 | 0% | -5% |
| Sodhani Academy | 23 September 2024 | SME (BSE) | 40 | 6.12 | 438.77x | 53 | 55.65 | +32.50% | +39.12% |
| Tolins Tyres | 16 September 2024 | Mainboard | 226 | 230 | 23.45x | 228 | 239.40 | +0.88% | +5.93% |
| Aditya Ultra Steel | 16 September 2024 | SME (NSE) | 62 | 45.88 | 10.04x | 69.90 | 66.40 | +12.74% | +7.10% |
| Travels and Rentals | 5 September 2024 | SME (BSE) | 40 | 12.24 | 608.27x | 55 | 57.75 | +37.50% | +44.38% |
| Vdeal System | 3 September 2024 | SME (NSE) | 112 | 18.08 | 67.17x | 170 | 178.50 | +51.79% | +59.38% |
| Resourceful Automobile | 29 August 2024 | SME (BSE) | 117 | 11.99 | 418.87x | 117 | 122.85 | 0% | +5% |
| QVC Exports | 28 August 2024 | SME (NSE) | 86 | 24.07 | 507.60x | 161 | 152.95 | +87.21% | +77.85% |
| Sunlite Recycling | 20 August 2024 | SME (NSE) | 105 | 30.24 | 282.53x | 199.50 | 209.45 | +90% | +99.48% |
| Magenta Lifecare | 12 June 2024 | SME (BSE) | 35 | 7 | 983.24x | 45 | 47.25 | +28.57% | +35% |
| Mandeep Auto | 21 May 2024 | SME (NSE) | 67 | 25.25 | 76.09x | 62.25 | 65.35 | -7.09% | -2.46% |
| Piotex Industries | 17 May 2024 | SME (BSE) | 94 | 14.47 | 107.50x | 109 | 114.30 | +15.96% | +21.60% |
| Shivam Chemicals | 30 April 2024 | SME (BSE) | 44 | 20.18 | 6.66x | 48 | 47.40 | +9.09% | +7.73% |
| Mukka Proteins | 7 March 2024 | Mainboard | 28 | 224 | 136.99x | 40 | 42.25 | +42.86% | +50.89% |
| Atmastco | 23 February 2024 | SME (NSE) | 77 | 56.25 | 16.63x | 91 | 95.55 | +18.18% | +24.09% |
| Mayank Cattle Food | 5 February 2024 | SME (BSE) | 108 | 19.44 | 8.89x | 116 | 119.95 | +7.41% | +11.06% |
| HRH Next | 3 January 2024 | SME (NSE) | 36 | 9.57 | 61.98x | 41 | 43.05 | +13.89% | +19.58% |
| Siyaram Recycling | 21 December 2023 | SME (BSE) | 46 | 22.96 | 358.07x | 55 | 57.75 | +19.57% | +25.54% |
| Presstonic Engineering | 18 December 2023 | SME (NSE) | 72 | 23.30 | 153.04x | 140 | 147 | +94.44% | +104.17% |
| Arrowhead | 28 November 2023 | SME (BSE) | 233 | 13 | 89.71x | 250 | 237.50 | +7.30% | +1.93% |
| Vishnusurya Projects | 10 October 2023 | SME (NSE) | 68 | 49.98 | 38.01x | 73 | 76.65 | +7.35% | +12.72% |
| Kontor Space | 10 October 2023 | SME (NSE) | 93 | 15.62 | 65.20x | 122 | 115.90 | +31.18% | +24.62% |
| Kundan Edifice | 26 September 2023 | SME (NSE) | 91 | 25.23 | 39.96x | 75 | 78.75 | -17.58% | -13.46% |
| Holmarc Opto-Mechatronics | 25 September 2023 | SME (NSE) | 40 | 11.40 | 80.30x | 65.25 | 68.50 | +63.13% | +71.25% |
| Jiwanram Sheoduttrai | 18 September 2023 | SME (NSE) | 23 | 17.07 | 110.70x | 30 | 28.50 | +30.43% | +23.91% |
| Khazanchi Jewellers | 7 August 2023 | SME (BSE) | 140 | 96.74 | 1.25x | 142.30 | 149.40 | +1.64% | +6.71% |
| Asarfi Hospital | 26 July 2023 | SME (BSE) | 52 | 26.94 | 181.51x | 98.80 | 103.74 | +90% | +99.50% |
| Alphalogic Industries | 14 July 2023 | SME (BSE) | 96 | 12.88 | 5.26x | 96 | 96.29 | 0% | +0.30% |
| CFF Fluid Control | 12 June 2023 | SME (BSE) | 165 | 85.80 | 2.04x | 175 | 183.75 | +6.06% | +11.36% |
| Auro Impex | 23 May 2023 | SME (NSE) | 78 | 27.07 | 66.93x | 78 | 75.70 | 0% | -2.95% |
| VELS Film | 22 March 2023 | SME (NSE) | 99 | 33.74 | 1.04x | 101 | 103.40 | +2.02% | +4.44% |
| ITCONS E-Solutions | 13 March 2023 | SME (BSE) | 51 | 8.67 | 16.67x | 46.99 | 49.33 | -7.86% | -3.27% |
| Indong Tea Company | 21 February 2023 | SME (BSE) | 26 | 13.01 | 5.07x | 20.80 | 21.80 | -20% | -16.15% |
| DHARNI Capital | 31 January 2023 | SME (BSE) | 20 | 10.74 | 6.24x | 21 | 20.25 | +5% | +1.25% |