FMCG: IPO Track Record
Mostly SME (78 of 100). Since 2025, 29 of 50 opened above the issue price, at a median of 1%.
Listed IPOs
100
22 mainboard, 78 SME
Amount raised
INR 22,207.67 crore
2019 to 2026
Median gain at open
+5.86%
listing day, vs issue price
Median gain at close
+7.38%
listing day, vs issue price
Opened above issue price
67%
share of listings
Closed below issue price
34%
on listing day
Median subscription
11.20x
total, final day
Vs same-year IPOs
-1.46
percentage points; median gap at open
Best listing: Goyal Salt (+242.11% at open, 11 October 2023). Weakest: SSMD Agrotech (-39.67% at open, 2 December 2025).
Mainboard vs SME
| Segment | IPOs | Median gain at open | Median gain at close | Opened above issue | Closed below issue | Median subscription |
|---|---|---|---|---|---|---|
| Mainboard | 22 | +7.41% | +9.81% | 77.27% | 27.27% | 36.14x |
| SME | 78 | +4.92% | +6.97% | 64.10% | 35.90% | 8.25x |
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 19 | 0% | -4.51% | 47.37% | 1.71x |
| 2025 | 31 | +4.17% | +3.26% | 64.52% | 7.88x |
| 2024 | 26 | +16.41% | +18.62% | 69.23% | 93.35x |
| 2023 | 18 | +12.57% | +12.80% | 83.33% | 25.54x |
| 2022 | 3 | +1.12% | +5.82% | 66.67% | 17.37x |
| 2021 | 1 | +28.50% | +42.50% | 100% | 45.62x |
| 2020 | 1 | +73.61% | +106.32% | 100% | 198.02x |
| 2019 | 1 | +2% | +0.58% | 100% | 1.12x |
All 100 IPOs
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Shellz India | 23 October 2026 | SME (BSE) | 179 | 59.97 | 58.70x | 179 | 170.05 | 0% | -5% |
| Papadmalji Agro | 7 October 2026 | SME (NSE) | 72 | 20.18 | 2.59x | 72.30 | 68.75 | +0.42% | -4.51% |
| Green Asia Impex | 7 October 2026 | SME (NSE) | 89 | 59.34 | 1.03x | 89 | 84.55 | 0% | -5% |
| Peshwa Wheat | 1 October 2026 | SME (BSE) | 101 | 53.52 | 2.83x | 100.05 | 95.05 | -0.94% | -5.89% |
| Farm Peace | 8 September 2026 | SME (BSE) | 59 | 32 | 1.21x | 112.10 | 106.50 | +90% | +80.51% |
| Dhanwel Hybrid Seeds | 26 August 2026 | SME (BSE) | 99 | 26.73 | 1.71x | 99 | 94.05 | 0% | -5% |
| Q&T Foods | 19 August 2026 | SME (BSE) | 115 | 26.25 | 1.48x | 115 | 109.25 | 0% | -5% |
| Milky Mist | 18 August 2026 | Mainboard | 140 | 1,553 | 59.07x | 165 | 181.50 | +17.86% | +29.64% |
| HR Hygiene Products | 5 August 2026 | SME (BSE) | 88 | 53.95 | 6.73x | 90 | 87.97 | +2.27% | -0.03% |
| Adon Agro | 6 July 2026 | SME (BSE) | 70 | 44.03 | 1.41x | 78.25 | 82.16 | +11.79% | +17.37% |
| Crazy Snacks | 3 July 2026 | SME (BSE) | 42 | 31.47 | 1.26x | 44 | 45.67 | +4.76% | +8.74% |
| Hexagon Nutrition | 12 June 2026 | Mainboard | 45 | 138.87 | 53.64x | 48.25 | 50.66 | +7.22% | +12.58% |
| M R Maniveni Foods | 1 June 2026 | SME (BSE) | 52 | 27.04 | 1.81x | 42.55 | 41.13 | -18.17% | -20.90% |
| NFP Sampooorna | 25 May 2026 | SME (NSE) | 55 | 24.53 | 1.62x | 54.50 | 51.80 | -0.91% | -5.82% |
| Recode Studios | 12 May 2026 | SME (BSE) | 158 | 44.59 | 234.71x | 213.10 | 223.75 | +34.87% | +41.61% |
| Amir Chand Jagdish Kumar (Aeroplane Basmati) | 2 April 2026 | Mainboard | 212 | 440 | 3.23x | 200 | 180 | -5.66% | -15.09% |
| Elfin Agro India | 12 March 2026 | SME (BSE) | 47 | 25.03 | 1.41x | 47.30 | 47.60 | +0.64% | +1.28% |
| Yashhtej Industries | 25 February 2026 | SME (BSE) | 110 | 88.88 | 1.42x | 88 | 83.60 | -20% | -24% |
| CKK Retail | 6 February 2026 | SME (NSE) | 163 | 88.02 | 1.69x | 163 | 171.15 | 0% | +5% |
| Shyam Dhani | 30 December 2025 | SME (NSE) | 70 | 38.49 | 988.40x | 133 | 139.65 | +90% | +99.50% |
| Stanbik Agro | 19 December 2025 | SME (BSE) | 30 | 12.28 | 1.54x | 31.75 | 33.33 | +5.83% | +11.10% |
| Pajson Agro India | 18 December 2025 | SME (BSE) | 118 | 74.45 | 6.59x | 124 | 130.20 | +5.08% | +10.34% |
| Unisem | 17 December 2025 | SME (BSE) | 65 | 21.45 | 2.11x | 65 | 61.75 | 0% | -5% |
| Ravelcare | 8 December 2025 | SME (BSE) | 130 | 24.10 | 437.67x | 201 | 190.95 | +54.62% | +46.88% |
| Astron Multigrain | 8 December 2025 | SME (BSE) | 63 | 18.40 | 1.27x | 50.40 | 47.88 | -20% | -24% |
| Mother Nutri Foods | 3 December 2025 | SME (BSE) | 117 | 39.59 | 16.02x | 118.40 | 124.30 | +1.20% | +6.24% |
| SSMD Agrotech | 2 December 2025 | SME (BSE) | 121 | 34.09 | 1.77x | 73 | 76.65 | -39.67% | -36.65% |
| Shreeji Global FMCG | 12 November 2025 | SME (NSE) | 125 | 85 | 3.34x | 100 | 101.70 | -20% | -18.64% |
| Orkla India | 6 November 2025 | Mainboard | 730 | 1,667.33 | 48.73x | 750.10 | 713.65 | +2.75% | -2.24% |
| DSM Fresh Foods | 9 October 2025 | SME (BSE) | 100 | 59.06 | 1.44x | 120 | 126 | +20% | +26% |
| Rukmani Devi Garg Agro | 6 October 2025 | SME (BSE) | 99 | 23.52 | 29.68x | 79.20 | 77.13 | -20% | -22.09% |
| TruAlt Bioenergy | 3 October 2025 | Mainboard | 496 | 839.28 | 71.92x | 545.40 | 530.95 | +9.96% | +7.05% |
| Gujarat Peanut | 3 October 2025 | SME (BSE) | 80 | 23.81 | 8x | 64 | 67.20 | -20% | -16% |
| Solvex Edibles | 1 October 2025 | SME (BSE) | 72 | 18.87 | 1.07x | 68 | 64.60 | -5.56% | -10.28% |
| BharatRohan Airborne | 30 September 2025 | SME (BSE) | 85 | 45.04 | 10.17x | 90 | 91.99 | +5.88% | +8.22% |
| Ganesh Consumer Products | 29 September 2025 | Mainboard | 322 | 408.80 | 2.67x | 296.05 | 294.30 | -8.06% | -8.60% |
| Shivashrit Foods | 1 September 2025 | SME (NSE) | 142 | 70.03 | 2.96x | 148.50 | 141.45 | +4.58% | -0.39% |
| Anondita Medicare | 1 September 2025 | SME (NSE) | 145 | 69.50 | 300.98x | 275.50 | 289.25 | +90% | +99.48% |
| Regaal Resources | 20 August 2025 | Mainboard | 102 | 306 | 159.88x | 141 | 131.58 | +38.24% | +29% |
| Medistep Healthcare | 18 August 2025 | SME (NSE) | 43 | 16.10 | 375.29x | 53 | 50.35 | +23.26% | +17.09% |
| Sawaliya Food Products | 14 August 2025 | SME (NSE) | 120 | 34.83 | 13.39x | 228 | 239.40 | +90% | +99.50% |
| Essex Marine | 11 August 2025 | SME (BSE) | 54 | 23.01 | 2.97x | 43.20 | 41.04 | -20% | -24% |
| Monika Alcobev | 23 July 2025 | SME (BSE) | 286 | 165.63 | 4.19x | 288 | 288 | +0.70% | +0.70% |
| Chemkart India | 14 July 2025 | SME (BSE) | 248 | 80.08 | 5.99x | 250 | 259.45 | +0.81% | +4.62% |
| Vandan Foods | 7 July 2025 | SME (BSE) | 115 | 30.36 | 1.80x | 125 | 118.75 | +8.70% | +3.26% |
| Abram Food | 1 July 2025 | SME (BSE) | 98 | 13.99 | 28.59x | 90.40 | 94.92 | -7.76% | -3.14% |
| Aakaar Medical Technologies | 27 June 2025 | SME (NSE) | 72 | 27 | 2.30x | 75 | 71.25 | +4.17% | -1.04% |
| Shri Ahimsa Naturals | 2 April 2025 | SME (NSE) | 119 | 73.81 | 62.79x | 140 | 147 | +17.65% | +23.53% |
| Swasth Foodtech | 28 February 2025 | SME (BSE) | 94 | 14.92 | 7.88x | 94 | 89.30 | 0% | -5% |
| Leo Dryfruits | 8 January 2025 | SME (BSE) | 52 | 25.12 | 181.84x | 68 | 71.36 | +30.77% | +37.23% |
| Hamps Bio | 20 December 2024 | SME (BSE) | 51 | 6.22 | 1,050.62x | 96.90 | 101.74 | +90% | +99.49% |
| Dhanlaxmi Crop Science | 16 December 2024 | SME (NSE) | 55 | 23.80 | 567.96x | 104.50 | 109.70 | +90% | +99.45% |
| Godavari Biorefineries | 30 October 2024 | Mainboard | 352 | 554.75 | 1.83x | 308 | 343.20 | -12.50% | -2.50% |
| Freshara Agro Exports | 24 October 2024 | SME (NSE) | 116 | 75.39 | 236.95x | 135 | 134.70 | +16.38% | +16.12% |
| Neopolitan Pizza and Foods | 9 October 2024 | SME (BSE) | 20 | 12 | 32.77x | 19.25 | 20.21 | -3.75% | +1.05% |
| Jeyyam Global Foods | 9 September 2024 | SME (NSE) | 61 | 81.94 | 119.51x | 61 | 64.05 | 0% | +5% |
| Sanstar | 26 July 2024 | Mainboard | 95 | 510.55 | 82.96x | 109 | 115.07 | +14.74% | +21.13% |
| Macobs Technologies | 24 July 2024 | SME (NSE) | 75 | 19.46 | 195.06x | 96 | 100.80 | +28% | +34.40% |
| Aelea Commodities | 22 July 2024 | SME (BSE) | 95 | 51 | 195.87x | 165 | 173.25 | +73.68% | +82.37% |
| Allied Blenders and Distillers | 2 July 2024 | Mainboard | 281 | 1,500 | 23.49x | 320 | 317.90 | +13.88% | +13.13% |
| Dindigul Farm Product | 27 June 2024 | SME (BSE) | 54 | 34.83 | 188.13x | 102.60 | 107.73 | +90% | +99.50% |
| TBI Corn | 7 June 2024 | SME (NSE) | 94 | 44.94 | 231.29x | 198 | 207.90 | +110.64% | +121.17% |
| HOAC Foods India | 24 May 2024 | SME (NSE) | 48 | 5.54 | 1,994.62x | 147 | 139.65 | +206.25% | +190.94% |
| TGIF Agribusiness | 15 May 2024 | SME (BSE) | 93 | 6.39 | 37.19x | 150 | 142.50 | +61.29% | +53.23% |
| Shivam Chemicals | 30 April 2024 | SME (BSE) | 44 | 20.18 | 6.66x | 48 | 47.40 | +9.09% | +7.73% |
| Ramdevbaba Solvent | 23 April 2024 | SME (NSE) | 85 | 50.27 | 126.29x | 112 | 117.60 | +31.76% | +38.35% |
| Jay Kailash Namkeen | 8 April 2024 | SME (BSE) | 73 | 11.93 | 40.07x | 85 | 80.75 | +16.44% | +10.62% |
| Vishwas Agri Seeds | 1 April 2024 | SME (NSE) | 86 | 25.80 | 12.23x | 85 | 83.60 | -1.16% | -2.79% |
| Chatha Foods | 27 March 2024 | SME (BSE) | 56 | 33.39 | 19.36x | 73 | 76.65 | +30.36% | +36.88% |
| Gopal Snacks | 14 March 2024 | Mainboard | 401 | 650 | 9.02x | 351 | 362.70 | -12.47% | -9.55% |
| Mukka Proteins | 7 March 2024 | Mainboard | 28 | 224 | 136.99x | 40 | 42.25 | +42.86% | +50.89% |
| MVK Agro Food | 7 March 2024 | SME (NSE) | 120 | 65.88 | 8.51x | 79 | 82.95 | -34.17% | -30.87% |
| Italian Edibles | 12 February 2024 | SME (NSE) | 68 | 26.66 | 149.05x | 55 | 57.75 | -19.12% | -15.07% |
| Mayank Cattle Food | 5 February 2024 | SME (BSE) | 108 | 19.44 | 8.89x | 116 | 119.95 | +7.41% | +11.06% |
| Harshdeep Hortico | 5 February 2024 | SME (BSE) | 45 | 19.09 | 103.75x | 70 | 66.50 | +55.56% | +47.78% |
| Sameera Agro | 1 January 2024 | SME (NSE) | 180 | 62.64 | 2.82x | 180 | 171 | 0% | -5% |
| DOMS Industries | 20 December 2023 | Mainboard | 790 | 1,200 | 93.40x | 1,400 | 1,326.05 | +77.22% | +67.85% |
| Sheetal Universal | 11 December 2023 | SME (NSE) | 70 | 23.80 | 162.53x | 75 | 75.40 | +7.14% | +7.71% |
| Flair Writing | 1 December 2023 | Mainboard | 304 | 593 | 46.68x | 501 | 450.90 | +64.80% | +48.32% |
| Baba Food Processing | 15 November 2023 | SME (NSE) | 76 | 32.88 | 65.98x | 76 | 72.20 | 0% | -5% |
| Honasa Consumer (Mamaearth) | 7 November 2023 | Mainboard | 324 | 1,701.44 | 7.61x | 330 | 337.10 | +1.85% | +4.04% |
| Shanthala FMCG | 3 November 2023 | SME (NSE) | 91 | 16.07 | 3.76x | 108 | 103.55 | +18.68% | +13.79% |
| Rajgor Castor | 31 October 2023 | SME (NSE) | 50 | 47.81 | 97.73x | 59 | 61.10 | +18% | +22.20% |
| Goyal Salt | 11 October 2023 | SME (NSE) | 38 | 18.63 | 267.56x | 130 | 136.10 | +242.11% | +258.16% |
| City Crops Agro | 10 October 2023 | SME (BSE) | 25 | 15 | 3.52x | 25.50 | 25.42 | +2% | +1.68% |
| Madhusudan Masala | 26 September 2023 | SME (NSE) | 70 | 23.80 | 412.94x | 120 | 114 | +71.43% | +62.86% |
| Srivari Spices | 18 August 2023 | SME (NSE) | 42 | 9 | 418.46x | 101.50 | 106.55 | +141.67% | +153.69% |
| Magson Retail | 6 July 2023 | SME (NSE) | 65 | 13.74 | 6.42x | 91.15 | 95.70 | +40.23% | +47.23% |
| HMA Agro | 4 July 2023 | Mainboard | 585 | 480 | 1.62x | 625 | 585.65 | +6.84% | +0.11% |
| Sonalis Consumer | 19 June 2023 | SME (BSE) | 30 | 2.83 | 43.48x | 38 | 39.90 | +26.67% | +33% |
| Proventus Agrocom | 5 June 2023 | SME (NSE) | 771 | 69.54 | 2.61x | 821 | 862.05 | +6.49% | +11.81% |
| Nirman Agri | 28 March 2023 | SME (NSE) | 99 | 20.30 | 1.63x | 102 | 101.30 | +3.03% | +2.32% |
| Prospect Commodities | 20 March 2023 | SME (BSE) | 61 | 7.48 | 5.04x | 61 | 61.45 | 0% | +0.74% |
| Indong Tea Company | 21 February 2023 | SME (BSE) | 26 | 13.01 | 5.07x | 20.80 | 21.80 | -20% | -16.15% |
| Sula Vineyards | 22 December 2022 | Mainboard | 357 | 960.35 | 2.33x | 361 | 331.20 | +1.12% | -7.23% |
| Bikaji Foods | 16 November 2022 | Mainboard | 300 | 880.84 | 26.67x | 322.80 | 317.45 | +7.60% | +5.82% |
| Adani Wilmar | 8 February 2022 | Mainboard | 230 | 3,600 | 17.37x | 227 | 268.25 | -1.30% | +16.63% |
| Dodla Dairy | 28 June 2021 | Mainboard | 428 | 520.18 | 45.62x | 550 | 609.90 | +28.50% | +42.50% |
| Mrs Bectors Food Specialities | 24 December 2020 | Mainboard | 288 | 540.54 | 198.02x | 500 | 594.20 | +73.61% | +106.32% |
| Vishwaraj Sugar | 15 October 2019 | Mainboard | 60 | 60 | 1.12x | 61.20 | 60.35 | +2% | +0.58% |