Healthcare: IPO Track Record
Listed IPOs
104
49 mainboard, 55 SME
Amount raised
INR 71,064.60 crore
2018 to 2026
Median gain at open
+10.54%
listing day, vs issue price
Median gain at close
+16.36%
listing day, vs issue price
Opened above issue price
76.92%
share of listings
Closed below issue price
21.15%
on listing day
Median subscription
27.30x
total, final day
Vs same-year IPOs
+0.49
percentage points; median gap at open
Best listing: Medicamen Organics (+305.44% at open, 28 June 2024). Weakest: Accretion Pharmaceuticals (-21.78% at open, 21 May 2025).
Mainboard vs SME
| Segment | IPOs | Median gain at open | Median gain at close | Opened above issue | Closed below issue | Median subscription |
|---|---|---|---|---|---|---|
| Mainboard | 49 | +8.86% | +17.27% | 83.67% | 18.37% | 24.86x |
| SME | 55 | +14.14% | +13.76% | 70.91% | 23.64% | 31.84x |
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 21 | +7.89% | +9.78% | 71.43% | 7.27x |
| 2025 | 27 | +3.84% | +2.57% | 66.67% | 7.73x |
| 2024 | 18 | +35.34% | +33.97% | 88.89% | 89.38x |
| 2023 | 23 | +10% | +20.85% | 82.61% | 29.73x |
| 2022 | 2 | +6.73% | +3.33% | 50% | 11x |
| 2021 | 10 | +13.85% | +22.23% | 90% | 54.27x |
| 2020 | 1 | +14% | +21.30% | 100% | 2.06x |
| 2019 | 1 | +8.86% | +9.07% | 100% | 5.83x |
| 2018 | 1 | -3.68% | -4.45% | 0% | 1.31x |
All 104 IPOs
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Paras Healthcare | 28 October 2026 | Mainboard | 693 | 1,450 | 2.34x | 720 | 735.60 | +3.90% | +6.15% |
| Sahajanand Medical Technologies | 23 October 2026 | Mainboard | 344 | 475.48 | 14.20x | 371.15 | 377.65 | +7.89% | +9.78% |
| Himalaya Nutravedics | 29 September 2026 | SME (BSE) | 106 | 26.50 | 2.41x | 118 | 122.90 | +11.32% | +15.94% |
| Rays of Belief | 8 September 2026 | Mainboard | 239 | 125 | 107.71x | 239 | 228.34 | 0% | -4.46% |
| Symbiotec Pharmalab | 1 September 2026 | Mainboard | 988 | 1,757 | 75.06x | 988 | 1,097.70 | 0% | +11.10% |
| ABH Healthcare | 1 September 2026 | SME (NSE) | 102 | 34.98 | 1.49x | 99 | 94.05 | -2.94% | -7.79% |
| Credent Connect | 20 August 2026 | SME (NSE) | 189 | 93.90 | 153.21x | 359.10 | 377.05 | +90% | +99.50% |
| Pramodini Medicare | 19 August 2026 | SME (NSE) | 118 | 69.04 | 3.96x | 120 | 121.65 | +1.69% | +3.09% |
| Molbio Diagnostics | 17 August 2026 | Mainboard | 807 | 939.70 | 70.26x | 980 | 1,041.70 | +21.44% | +29.08% |
| Manipal Health | 5 August 2026 | Mainboard | 590 | 9,275.22 | 4.92x | 652 | 666.95 | +10.51% | +13.04% |
| Avience Biomedicals | 25 June 2026 | SME (NSE) | 208 | 30.24 | 385.33x | 395.20 | 414.95 | +90% | +99.50% |
| Q Line Biotech | 29 May 2026 | SME (NSE) | 343 | 214.48 | 102.49x | 452 | 474.60 | +31.78% | +38.37% |
| Bio Medica Laboratories | 29 May 2026 | SME (NSE) | 139 | 52.43 | 2.31x | 111.20 | 115.80 | -20% | -16.69% |
| Goldline Pharmaceutical | 19 May 2026 | SME (BSE) | 43 | 11.61 | 840.81x | 59.75 | 56.77 | +38.95% | +32.02% |
| Sai Parenteral’s | 2 April 2026 | Mainboard | 392 | 408.79 | 1.05x | 400 | 405.70 | +2.04% | +3.49% |
| Speciality Medicines | 30 March 2026 | SME (BSE) | 124 | 29.14 | 2.34x | 124 | 125.90 | 0% | +1.53% |
| Gaudium IVF | 27 February 2026 | Mainboard | 79 | 165 | 7.27x | 83 | 80.26 | +5.06% | +1.59% |
| Accretion Nutraveda | 4 February 2026 | SME (BSE) | 129 | 24.77 | 1.91x | 191 | 191.20 | +48.06% | +48.22% |
| Hannah Joseph Hospital | 2 February 2026 | SME (BSE) | 70 | 42 | 1.62x | 65 | 68.25 | -7.14% | -2.50% |
| KRM Ayurveda | 29 January 2026 | SME (NSE) | 135 | 77.49 | 74.43x | 172.10 | 180.70 | +27.48% | +33.85% |
| Modern Diagnostic & Research | 7 January 2026 | SME (BSE) | 90 | 36.89 | 376.97x | 99.50 | 94.99 | +10.56% | +5.54% |
| Gujarat Kidney and Super Speciality | 30 December 2025 | Mainboard | 114 | 250.80 | 5.21x | 120 | 104.54 | +5.26% | -8.30% |
| Park Medi World | 17 December 2025 | Mainboard | 162 | 920 | 8.10x | 158.80 | 147.95 | -1.98% | -8.67% |
| Nephrocare Health Services | 17 December 2025 | Mainboard | 460 | 871.05 | 13.96x | 490 | 471.25 | +6.52% | +2.45% |
| Corona Remedies | 15 December 2025 | Mainboard | 1,062 | 655.37 | 137.04x | 1,470 | 1,438.40 | +38.42% | +35.44% |
| Invicta Diagnostic | 8 December 2025 | SME (NSE) | 85 | 28.12 | 4.34x | 100 | 96.70 | +17.65% | +13.76% |
| Sudeep Pharma | 28 November 2025 | Mainboard | 593 | 895 | 93.71x | 730 | 774.15 | +23.10% | +30.55% |
| Curis Lifesciences | 14 November 2025 | SME (NSE) | 128 | 27.52 | 74.47x | 146.10 | 141 | +14.14% | +10.16% |
| Rubicon Research | 16 October 2025 | Mainboard | 485 | 1,377.50 | 103.89x | 620 | 628.20 | +27.84% | +29.53% |
| VijayPD Ceutical | 7 October 2025 | SME (NSE) | 35 | 19.25 | 1.43x | 35 | 35.90 | 0% | +2.57% |
| Fabtech Technologies | 7 October 2025 | Mainboard | 191 | 230.30 | 2.03x | 192 | 182.40 | +0.52% | -4.50% |
| Earkart | 3 October 2025 | SME (BSE) | 135 | 49.26 | 1.33x | 135.50 | 142.25 | +0.37% | +5.37% |
| Aptus Pharma | 30 September 2025 | SME (BSE) | 70 | 13.02 | 22.40x | 80.80 | 84.84 | +15.43% | +21.20% |
| Galaxy Medicare | 17 September 2025 | SME (NSE) | 54 | 22.31 | 1.89x | 54 | 51.30 | 0% | -5% |
| Amanta Healthcare | 9 September 2025 | Mainboard | 126 | 126 | 82.60x | 135 | 141.75 | +7.14% | +12.50% |
| Anlon Healthcare | 3 September 2025 | Mainboard | 91 | 121.03 | 7.12x | 92 | 91.73 | +1.10% | +0.80% |
| Star Imaging & Path Lab | 18 August 2025 | SME (BSE) | 142 | 69.47 | 5.82x | 142 | 135.95 | 0% | -4.26% |
| Anthem Biosciences | 21 July 2025 | Mainboard | 570 | 3,395 | 63.86x | 723.05 | 730.35 | +26.85% | +28.13% |
| Asston Pharmaceuticals | 16 July 2025 | SME (BSE) | 123 | 27.56 | 186.66x | 119 | 124.95 | -3.25% | +1.59% |
| Influx Healthtech | 25 June 2025 | SME (NSE) | 96 | 58.57 | 201.44x | 132.50 | 126.20 | +38.02% | +31.46% |
| Astonea Labs | 3 June 2025 | SME (BSE) | 135 | 37.67 | 2.62x | 137.45 | 135.65 | +1.81% | +0.48% |
| Accretion Pharmaceuticals | 21 May 2025 | SME (NSE) | 101 | 29.75 | 7.73x | 79 | 82.95 | -21.78% | -17.87% |
| Shanmuga Hospital | 21 February 2025 | SME (BSE) | 54 | 20.62 | 2.56x | 54 | 51.30 | 0% | -5% |
| 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% |
| Dr. Agarwal’s Health Care | 4 February 2025 | Mainboard | 402 | 3,027.26 | 1.55x | 402 | 401.65 | 0% | -0.09% |
| Laxmi Dental | 20 January 2025 | Mainboard | 428 | 698.06 | 114.42x | 542 | 550.55 | +26.64% | +28.63% |
| Sat Kartar Shopping | 17 January 2025 | SME (NSE) | 81 | 33.80 | 342.77x | 153.90 | 161.55 | +90% | +99.44% |
| Senores Pharmaceutical | 30 December 2024 | Mainboard | 391 | 582.11 | 93.41x | 600 | 557.05 | +53.45% | +42.47% |
| Sai Life Sciences | 18 December 2024 | Mainboard | 549 | 3,042.62 | 10.26x | 650 | 764.65 | +18.40% | +39.28% |
| Suraksha Diagnostic | 6 December 2024 | Mainboard | 441 | 846.25 | 1.27x | 438 | 417.25 | -0.68% | -5.39% |
| Onyx Biotec | 22 November 2024 | SME (NSE) | 61 | 29.34 | 198.08x | 54.05 | 56.75 | -11.39% | -6.97% |
| Osel Devices | 24 September 2024 | SME (NSE) | 160 | 70.66 | 194.31x | 198.05 | 207.95 | +23.78% | +29.97% |
| Broach Lifecare Hospital | 21 August 2024 | SME (BSE) | 25 | 4.02 | 158.66x | 47.50 | 49.87 | +90% | +99.48% |
| Akums Drugs and Pharmaceuticals | 6 August 2024 | Mainboard | 679 | 1,856.74 | 63.56x | 725 | 796.25 | +6.77% | +17.27% |
| Clinitech Laboratory | 1 August 2024 | SME (BSE) | 96 | 5.78 | 39.02x | 115 | 120.75 | +19.79% | +25.78% |
| Aprameya Engineering | 1 August 2024 | SME (NSE) | 58 | 29.23 | 191.46x | 72 | 75.60 | +24.14% | +30.34% |
| Emcure Pharmaceuticals | 10 July 2024 | Mainboard | 1,008 | 1,952.03 | 67.84x | 1,325.05 | 1,359.15 | +31.45% | +34.84% |
| Nephro care India | 5 July 2024 | SME (NSE) | 90 | 41.26 | 715.85x | 171 | 179.55 | +90% | +99.50% |
| Medicamen Organics | 28 June 2024 | SME (NSE) | 34 | 10.54 | 993.64x | 137.85 | 144.70 | +305.44% | +325.59% |
| Quest Laboratories | 23 May 2024 | SME (NSE) | 97 | 43.16 | 85.34x | 155.10 | 147.35 | +59.90% | +51.91% |
| Indegene | 13 May 2024 | Mainboard | 452 | 1,841.76 | 69.63x | 655 | 570.90 | +44.91% | +26.31% |
| Amkay Products | 8 May 2024 | SME (BSE) | 55 | 12.61 | 693.44x | 104.50 | 109.72 | +90% | +99.49% |
| Royal Sense | 19 March 2024 | SME (BSE) | 68 | 9.86 | 8.52x | 129.20 | 122.74 | +90% | +80.50% |
| GPT Healthcare | 29 February 2024 | Mainboard | 186 | 525.14 | 8.52x | 215 | 200.70 | +15.59% | +7.90% |
| Zenith Drugs | 27 February 2024 | SME (NSE) | 79 | 40.68 | 179.07x | 110 | 105.15 | +39.24% | +33.10% |
| Innova Captab | 29 December 2023 | Mainboard | 448 | 570 | 55.26x | 452.10 | 541.40 | +0.92% | +20.85% |
| Accent Microcell | 15 December 2023 | SME (NSE) | 140 | 78.40 | 337.01x | 300 | 315 | +114.29% | +125% |
| Sunrest Lifescience | 20 November 2023 | SME (NSE) | 84 | 10.85 | 45.10x | 84 | 79.80 | 0% | -5% |
| Maitreya Medicare | 7 November 2023 | SME (NSE) | 82 | 14.89 | 410.09x | 162.55 | 154.45 | +98.23% | +88.35% |
| KK Shah Hospitals | 6 November 2023 | SME (BSE) | 45 | 8.78 | 12.92x | 56.10 | 58.90 | +24.67% | +30.89% |
| Blue Jet Healthcare | 1 November 2023 | Mainboard | 346 | 840.27 | 7.95x | 380 | 413.40 | +9.83% | +19.48% |
| 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% |
| Jupiter Life Line Hospitals | 18 September 2023 | Mainboard | 735 | 869.08 | 63.72x | 973 | 1,075.75 | +32.38% | +46.36% |
| Mono Pharmacare | 7 September 2023 | SME (NSE) | 28 | 14.84 | 12.77x | 29 | 30.45 | +3.57% | +8.75% |
| Shelter Pharma | 23 August 2023 | SME (BSE) | 42 | 16.03 | 13.76x | 39.97 | 41.96 | -4.83% | -0.10% |
| Concord Biotech | 18 August 2023 | Mainboard | 741 | 1,550.52 | 24.86x | 900.05 | 942.80 | +21.46% | +27.23% |
| Sangani Hospitals | 17 August 2023 | SME (NSE) | 40 | 15.17 | 4.36x | 44 | 41.85 | +10% | +4.63% |
| Yatharth Hospital | 7 August 2023 | Mainboard | 300 | 686.55 | 36.15x | 306.10 | 333.85 | +2.03% | +11.28% |
| Asarfi Hospital | 26 July 2023 | SME (BSE) | 52 | 26.94 | 181.51x | 98.80 | 103.74 | +90% | +99.50% |
| Vilin Bio Med | 30 June 2023 | SME (NSE) | 30 | 12 | 2.67x | 30 | 28.50 | 0% | -5% |
| Aatmaj Healthcare | 30 June 2023 | SME (NSE) | 60 | 38.40 | 31.84x | 56 | 53.20 | -6.67% | -11.33% |
| Hemant Surgical | 5 June 2023 | SME (BSE) | 90 | 24.84 | 139.70x | 171 | 179.55 | +90% | +99.50% |
| Vasa Denticity | 2 June 2023 | SME (NSE) | 128 | 54.07 | 66.96x | 211 | 221.55 | +64.84% | +73.09% |
| Remus Pharmaceuticals | 29 May 2023 | SME (NSE) | 1,229 | 47.69 | 56.59x | 1,711.25 | 1,796.80 | +39.24% | +46.20% |
| Mankind Pharma | 9 May 2023 | Mainboard | 1,080 | 4,326.36 | 15.32x | 1,300 | 1,422.30 | +20.37% | +31.69% |
| Infinium Pharmachem | 17 April 2023 | SME (NSE) | 135 | 25.26 | 1.84x | 141.50 | 147.80 | +4.81% | +9.48% |
| Sotac Pharmaceuticals | 13 April 2023 | SME (NSE) | 111 | 33.30 | 1.07x | 115 | 120.75 | +3.60% | +8.78% |
| Global Health (Medanta) | 16 November 2022 | Mainboard | 336 | 2,205.57 | 9.58x | 401 | 415.30 | +19.35% | +23.60% |
| Rainbow Hospital | 10 May 2022 | Mainboard | 542 | 1,580.85 | 12.43x | 510 | 450.20 | -5.90% | -16.94% |
| Supriya Lifescience | 28 December 2021 | Mainboard | 274 | 700 | 71.51x | 421 | 390.85 | +53.65% | +42.65% |
| Tarsons Products | 26 November 2021 | Mainboard | 662 | 1,023.47 | 77.49x | 682 | 818.40 | +3.02% | +23.63% |
| Sigachi Industries | 15 November 2021 | Mainboard | 163 | 125.43 | 101.91x | 570 | 598.50 | +249.69% | +267.18% |
| Vijaya Diagnostic | 14 September 2021 | Mainboard | 531 | 1,894.26 | 4.54x | 540 | 620.10 | +1.69% | +16.78% |
| Ami Organics | 14 September 2021 | Mainboard | 610 | 569.64 | 64.54x | 910 | 935 | +49.18% | +53.28% |
| Windlas Biotech | 16 August 2021 | Mainboard | 460 | 401.54 | 22.44x | 437 | 407.15 | -5% | -11.49% |
| Krsnaa Diagnostics | 16 August 2021 | Mainboard | 954 | 1,214.60 | 64.38x | 1,005.55 | 987 | +5.40% | +3.46% |
| Glenmark Life Sciences | 6 August 2021 | Mainboard | 720 | 1,513.60 | 44.17x | 750 | 748.50 | +4.17% | +3.96% |
| KIMS | 28 June 2021 | Mainboard | 825 | 2,143.74 | 3.86x | 1,009 | 996.95 | +22.30% | +20.84% |
| Nureca | 25 February 2021 | Mainboard | 400 | 100 | 39.93x | 615 | 645.75 | +53.75% | +61.44% |
| Gland Pharma | 20 November 2020 | Mainboard | 1,500 | 6,479.55 | 2.06x | 1,710 | 1,819.55 | +14% | +21.30% |
| Metropolis Healthcare | 15 April 2019 | Mainboard | 880 | 1,204.29 | 5.83x | 958 | 959.85 | +8.86% | +9.07% |
| Aster DM Healthcare | 26 February 2018 | Mainboard | 190 | 980.10 | 1.31x | 183 | 181.55 | -3.68% | -4.45% |