Integrated Registry Management Services: IPO Track Record
Mostly SME, with small issues (median INR 26.88 crore); 9 of its 12 IPOs listed in 2025 or 2026.
Listed IPOs
12
1 mainboard, 11 SME
Amount raised
INR 575.85 crore
2023 to 2026
Median gain at open
+8.18%
listing day, vs issue price
Median gain at close
+8.45%
listing day, vs issue price
Opened above issue price
58.33%
share of listings
Closed below issue price
33.33%
on listing day
Median subscription
20.59x
total, final day
Vs same-year IPOs
-2.56
percentage points; median gap at open
Best listing: Indobell Insulations (+90% at open, 13 January 2025). Weakest: Gujarat Peanut (-20% at open, 3 October 2025).
Mainboard vs SME
| Segment | IPOs | Median gain at open | Median gain at close | Opened above issue | Closed below issue | Median subscription |
|---|---|---|---|---|---|---|
| Mainboard | 1 | +10.54% | +16.07% | 100% | 0% | 221.68x |
| SME | 11 | +5.82% | +0.82% | 54.55% | 36.36% | 8x |
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 5 | -1% | +0.43% | 40% | 2.75x |
| 2025 | 4 | +5.27% | +5.54% | 50% | 31.09x |
| 2024 | 2 | +51.05% | +56.95% | 100% | 145.89x |
| 2023 | 1 | +5.82% | +0.82% | 100% | 6.16x |
All 12 IPOs Handled
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Injecto Polymers | 21 September 2026 | SME (BSE) | 100 | 56.12 | 1.29x | 99 | 95.95 | -1% | -4.05% |
| Skytech Infinite | 21 August 2026 | SME (NSE) | 77 | 22.68 | 2.09x | 74 | 70.30 | -3.90% | -8.70% |
| Leapfrog Engineering | 24 June 2026 | SME (BSE) | 23 | 88.51 | 2.75x | 22 | 23.10 | -4.35% | +0.43% |
| Apsis Aerocom | 18 March 2026 | SME (NSE) | 110 | 35.77 | 129.41x | 153 | 160.65 | +39.09% | +46.05% |
| Avana Electrosystems | 20 January 2026 | SME (NSE) | 59 | 35.22 | 131.89x | 77.50 | 80.30 | +31.36% | +36.10% |
| Gujarat Peanut | 3 October 2025 | SME (BSE) | 80 | 23.81 | 8x | 64 | 67.20 | -20% | -16% |
| Shanmuga Hospital | 21 February 2025 | SME (BSE) | 54 | 20.62 | 2.56x | 54 | 51.30 | 0% | -5% |
| Denta Water and Infra | 29 January 2025 | Mainboard | 294 | 220.50 | 221.68x | 325 | 341.25 | +10.54% | +16.07% |
| Indobell Insulations | 13 January 2025 | SME (BSE) | 46 | 10.14 | 54.18x | 87.40 | 91.77 | +90% | +99.50% |
| Solve Plastic Products | 21 August 2024 | SME (NSE) | 91 | 11.85 | 33.17x | 102 | 107.10 | +12.09% | +17.69% |
| Storage Technologies and Automation | 8 May 2024 | SME (BSE) | 78 | 29.95 | 258.61x | 148.20 | 153.05 | +90% | +96.22% |
| Service Care | 26 July 2023 | SME (NSE) | 67 | 20.68 | 6.16x | 70.90 | 67.55 | +5.82% | +0.82% |