Oil, Gas & Consumable Fuels: IPO Track Record
A small sector in the data (14 IPOs), mostly SME. 2026 so far: 4 IPOs with a median gain at open of 53.99%.
Listed IPOs
14
5 mainboard, 9 SME
Amount raised
INR 5,590.34 crore
2023 to 2026
Median gain at open
+10.67%
listing day, vs issue price
Median gain at close
+7.08%
listing day, vs issue price
Opened above issue price
71.43%
share of listings
Closed below issue price
28.57%
on listing day
Median subscription
23.28x
total, final day
Vs same-year IPOs
-0.88
percentage points; median gap at open
Best listing: Bharat Coking Coal (+95.65% at open, 19 January 2026). Weakest: Sundrex Oil (-20% at open, 30 December 2025).
Mainboard vs SME
| Segment | IPOs | Median gain at open | Median gain at close | Opened above issue | Closed below issue | Median subscription |
|---|---|---|---|---|---|---|
| Mainboard | 5 | +17.98% | +24.58% | 60% | 20% | 64.07x |
| SME | 9 | +10.57% | +5.23% | 77.78% | 33.33% | 6.89x |
Year by Year
| Year | IPOs | Median gain at open | Median gain at close | Opened above issue | Median subscription |
|---|---|---|---|---|---|
| 2026 | 4 | +53.99% | +50.51% | 100% | 74.16x |
| 2025 | 3 | -6.38% | -9.28% | 0% | 2.09x |
| 2024 | 1 | +90% | +99.50% | 100% | 770.01x |
| 2023 | 6 | +10.67% | +7.08% | 83.33% | 23.28x |
All 14 IPOs
| IPO | Listed | Segment | Issue price (INR) | Issue size (INR crore) | Subscription | Open (INR) | Close (INR) | Gain at open | Gain at close |
|---|---|---|---|---|---|---|---|---|---|
| Axiom Gas | 25 September 2026 | SME (NSE) | 54 | 50.75 | 1.45x | 54.75 | 54.05 | +1.39% | +0.09% |
| Caliber Mining | 24 July 2026 | Mainboard | 424 | 450 | 154.66x | 500.25 | 528.20 | +17.98% | +24.58% |
| Teja Engineering | 7 July 2026 | SME (NSE) | 220 | 37.36 | 1.11x | 418 | 438.90 | +90% | +99.50% |
| Bharat Coking Coal | 19 January 2026 | Mainboard | 23 | 1,071.11 | 146.87x | 45 | 40.58 | +95.65% | +76.43% |
| Sundrex Oil | 30 December 2025 | SME (NSE) | 86 | 32.24 | 1.59x | 68.80 | 65.40 | -20% | -23.95% |
| Repono | 4 August 2025 | SME (BSE) | 96 | 26.68 | 65.11x | 89.99 | 87.09 | -6.26% | -9.28% |
| Aegis Vopak Terminals | 2 June 2025 | Mainboard | 235 | 2,800 | 2.09x | 220 | 242 | -6.38% | +2.98% |
| Greenhitech Ventures | 22 April 2024 | SME (BSE) | 50 | 6.30 | 770.01x | 95 | 99.75 | +90% | +99.50% |
| Indifra | 29 December 2023 | SME (NSE) | 65 | 14.04 | 6.89x | 72 | 68.40 | +10.77% | +5.23% |
| Gandhar Oil | 30 November 2023 | Mainboard | 169 | 500.69 | 64.07x | 298 | 301.40 | +76.33% | +78.34% |
| IRM Energy | 26 October 2023 | Mainboard | 505 | 544.36 | 27.05x | 477.25 | 473.15 | -5.50% | -6.31% |
| Arabian Petroleum | 9 October 2023 | SME (NSE) | 70 | 20.24 | 19.51x | 77.40 | 76.25 | +10.57% | +8.93% |
| ResGen | 13 March 2023 | SME (BSE) | 47 | 28.20 | 2.38x | 49 | 46.57 | +4.26% | -0.91% |
| RBM Infracon | 4 January 2023 | SME (NSE) | 36 | 8.37 | 38.29x | 52.50 | 55.10 | +45.83% | +53.06% |