Services: IPO Track Record

Mostly SME (86 of 117). The median gain at open since 2025 is 0.13% across 59 IPOs, against 12.67% before.

Listed IPOs
117
31 mainboard, 86 SME
Amount raised
INR 38,857.79 crore
2019 to 2026
Median gain at open
+4.17%
listing day, vs issue price
Median gain at close
+5%
listing day, vs issue price
Opened above issue price
63.25%
share of listings
Closed below issue price
35.90%
on listing day
Median subscription
16.67x
total, final day
Vs same-year IPOs
-2.81
percentage points; median gap at open

Best listing: Infollion Research (+154.88% at open, 8 June 2023). Weakest: Om Freight Forwarders (-39.63% at open, 8 October 2025).

Mainboard vs SME

SegmentIPOsMedian gain at openMedian gain at closeOpened above issueClosed below issueMedian subscription
Mainboard31+2.89%+1.23%61.29%48.39%7.70x
SME86+4.30%+6.44%63.95%31.40%30.42x

Year by Year

YearIPOsMedian gain at openMedian gain at closeOpened above issueMedian subscription
2026180%-6.92%44.44%3.33x
202541+0.37%+0.25%53.66%8.91x
202428+19.54%+20.81%82.14%85.02x
202324+8.03%+11.71%66.67%34.11x
20224+8.69%+16.95%100%4.84x
20211+1.94%+10.28%100%1.95x
20191-4.17%-5.04%0%1.46x

All 117 IPOs

IPOListedSegmentIssue price (INR)Issue size (INR crore)SubscriptionOpen (INR)Close (INR)Gain at openGain at close
Acme India Industries9 October 2026SME (BSE)196121.69124.31x221232.05+12.76%+18.39%
Pooja Logistics30 September 2026SME (NSE)11544.233.19x118123.90+2.61%+7.74%
Elevate Campuses30 September 2026Mainboard3622,1001.89x355.10322.95-1.91%-10.79%
Coreintegra Consulting30 September 2026SME (NSE)7821.991.45x78.1078.90+0.13%+1.15%
Apana Logistics15 September 2026SME (BSE)6034.141.31x60570%-5%
Fly-Hi Maritime8 September 2026SME (BSE)10252.632.18x81.6077.55-20%-23.97%
Skyways Air Services1 September 2026Mainboard138582.8071.25x124125.56-10.14%-9.01%
Shiprocket19 August 2026Mainboard971,617.49102.27x131143.45+35.05%+47.89%
LEAP India14 August 2026Mainboard1592,4808.38x165.90144.93+4.34%-8.85%
Aegeus Technologies11 August 2026SME (BSE)10523.7130.11x124.50130.70+18.57%+24.48%
Propshop Events3 August 2026SME (NSE)6928.571.58x55.2057.15-20%-17.17%
Gulf Lloyds27 July 2026SME (BSE)10018.1910.90x100950%-5%
Sampark India Logistics7 July 2026SME (BSE)8427.225.02x8993.45+5.95%+11.25%
Central Mine Planning30 March 2026Mainboard1721,837.841.03x160154.06-6.98%-10.43%
Innovision23 March 2026Mainboard519319.253.47x467.70374.20-9.88%-27.90%
PAN HR Solution13 February 2026SME (BSE)7817.0412.36x78.3578.01+0.45%+0.01%
Shadowfax Technologies28 January 2026Mainboard1241,907.272.72x112.60109.98-9.19%-11.31%
Armour Security India22 January 2026SME (NSE)5726.511.87x45.6043.35-20%-23.95%
Dhara Rail Projects31 December 2025SME (NSE)12650.20112.01x150157.50+19.05%+25%
MARC Technocrats24 December 2025SME (NSE)9342.599.93x74.4070.70-20%-23.98%
Global Ocean Logistics24 December 2025SME (BSE)7830.4113.71x79.2079.29+1.54%+1.65%
Neptune Logitek22 December 2025SME (BSE)12646.621.66x100.8095.80-20%-23.97%
Ashwini Container19 December 2025SME (NSE)142711.78x147140.10+3.52%-1.34%
Shipwaves Online17 December 2025SME (BSE)1256.351.70x1211.400%-5%
Encompass Design India12 December 2025SME (NSE)10740.212.27x203.30193.15+90%+80.51%
Clear Secured Services8 December 2025SME (NSE)13285.608.91x119113.05-9.85%-14.36%
Jayesh Logistics3 November 2025SME (NSE)12228.6365.66x120117.80-1.64%-3.44%
WeWork India10 October 2025Mainboard6482,999.641.15x650628.65+0.31%-2.99%
NSB BPO Solutions10 October 2025SME (BSE)12164.130.81x121.45121.30+0.37%+0.25%
Sunsky Logistics8 October 2025SME (BSE)4616.841.52x5153.55+10.87%+16.41%
Sheel Biotech8 October 2025SME (NSE)6334.0216.04x9195.55+44.44%+51.67%
Om Freight Forwarders8 October 2025Mainboard135122.317.70x81.5085.57-39.63%-36.61%
Glottis7 October 2025Mainboard1293072.05x8483.70-34.88%-35.12%
Dhillon Freight Carrier7 October 2025SME (BSE)7210.082.97x57.6054.72-20%-24%
Dev Accelerator17 September 2025Mainboard61143.3563.97x6164.050%+5%
Shreeji Shipping Global26 August 2025Mainboard252410.7158.10x270255.10+7.14%+1.23%
Highway Infrastructure12 August 2025Mainboard70130300.61x115120.75+64.29%+72.50%
BLT Logistics11 August 2025SME (BSE)759.72560.91x90.9595.49+21.27%+27.32%
FlySBS Aviation8 August 2025SME (NSE)225102.53318.82x427.50448.85+90%+99.49%
IndiQube Spaces30 July 2025Mainboard23770012.41x216217.97-8.86%-8.03%
Monarch Surveyors29 July 2025SME (BSE)25093.75250.73x421.25400.20+68.50%+60.08%
Smartworks Coworking Spaces17 July 2025Mainboard407582.8813.45x435445.05+6.88%+9.35%
Happy Square Outsourcing Services10 July 2025SME (NSE)7624.253.72x7780.85+1.32%+6.38%
Moving Media Entertainment3 July 2025SME (NSE)7043.4073.86x7174.55+1.43%+6.50%
Icon Facilitators1 July 2025SME (BSE)9119.112.55x9085.50-1.10%-6.04%
Blue Water Logistics3 June 2025SME (NSE)13540.509.44x141148.05+4.44%+9.67%
iWare Supplychain6 May 2025SME (NSE)9527.133.02x85.0580.90-10.47%-14.84%
Rapid Fleet Management28 March 2025SME (NSE)19243.871.97x195200.90+1.56%+4.64%
Paradeep Parivahan24 March 2025SME (BSE)9844.861.99x78.4082.32-20%-16%
PDP Shipping & Projects18 March 2025SME (BSE)13512.651.06x108.25102.85-19.81%-23.81%
Shreenath Paper5 March 2025SME (BSE)4423.361.91x35.2033.44-20%-24%
Nukleus Office4 March 2025SME (BSE)23431.701.34x187.20196.55-20%-16%
HP Telecom India28 February 2025SME (NSE)10834.231.96x115.05115.05+6.53%+6.53%
Tejas Cargo24 February 2025SME (NSE)168105.841.23x175168+4.17%0%
Voler Car19 February 2025SME (NSE)902713.73x9091.450%+1.61%
Eleganz Interiors14 February 2025SME (NSE)13078.0730.73x122116.05-6.15%-10.73%
Chamunda Electrical11 February 2025SME (NSE)5014.60738.03x7066.50+40%+33%
GB Logistics31 January 2025SME (BSE)10225.07185.31x81.6081.75-20%-19.85%
EMA Partners24 January 2025SME (NSE)12476.01221.14x156.50148.70+26.21%+19.92%
International Gemmological Institute20 December 2024Mainboard4174,22533.78x510471.15+22.30%+12.99%
Supreme Facility Management18 December 2024SME (NSE)765027.07x7571.25-1.32%-6.25%
Zinka Logistics22 November 2024Mainboard2731,114.721.86x280.90260.05+2.89%-4.74%
Mangal Compusolution21 November 2024SME (BSE)4516.2334.65x4542.750%-5%
Pranik Logistics17 October 2024SME (NSE)7722.47218.10x7982.95+2.60%+7.73%
Khyati Global Ventures11 October 2024SME (BSE)9918.3015.23x10599.75+6.06%+0.76%
Phoenix Overseas27 September 2024SME (NSE)6436.03121.18x6460.800%-5%
Western Carriers24 September 2024Mainboard172492.8830.57x171159.44-0.58%-7.30%
Deccan Transcon Leasing24 September 2024SME (NSE)10865.06101.81x116110.25+7.41%+2.08%
Vision Infra13 September 2024SME (NSE)163106.2168.22x205215.25+25.77%+32.06%
ECOS Mobility4 September 2024Mainboard334601.2064.26x390443.15+16.77%+32.68%
Rapid Multimodal30 August 2024SME (BSE)848.49350.52x103108.10+22.62%+28.69%
BracePort Logistics26 August 2024SME (NSE)8024.41657.87x152159.60+90%+99.50%
Positron Energy20 August 2024SME (NSE)25051.21413.05x475498.75+90%+99.50%
Afcom Holdings9 August 2024SME (BSE)10873.83303.11x205.20215.45+90%+99.49%
Ashapura Logistics6 August 2024SME (NSE)14452.66182.73x185175.75+28.47%+22.05%
Manglam Infra & Engineering31 July 2024SME (NSE)5627.62394.59x106.40111.70+90%+99.46%
Diensten Tech3 July 2024SME (NSE)10022.0854.01x240252+140%+152%
Falcon Technoprojects26 June 2024SME (NSE)9213.6966.50x8488.20-8.70%-4.13%
Awfis Space30 May 2024Mainboard383598.93108.15x435421.75+13.58%+10.12%
ABS Marine Services21 May 2024SME (NSE)14796.29143.09x294279.30+100%+90%
Premier Roadlines17 May 2024SME (NSE)6740.36115.29x8791.35+29.85%+36.34%
Gconnect Logitech3 April 2024SME (BSE)405.6057.30x4244.10+5%+10.25%
Krystal Integrated21 March 2024Mainboard715300.1313.21x785712.85+9.79%-0.30%
Sadhav Shipping1 March 2024SME (NSE)9538.18125.10x135141.75+42.11%+49.21%
WTi Cabs19 February 2024SME (NSE)14794.68163.87x195204.75+32.65%+39.29%
Qualitek Labs29 January 2024SME (BSE)10019.6459x190199.50+90%+99.50%
HRH Next3 January 2024SME (NSE)369.5761.98x4143.05+13.89%+19.58%
Sahara Maritime26 December 2023SME (BSE)816.8822.73x8181.160%+0.20%
Shree OSFM E-Mobility21 December 2023SME (NSE)6524.607.69x6568.250%+5%
S J Logistics19 December 2023SME (NSE)12548293.99x175183.75+40%+47%
Marinetrans India8 December 2023SME (NSE)2610.9230.85x3031+15.38%+19.23%
Rocking Deals30 November 2023SME (NSE)14021198.51x300315+114.29%+125%
Vrundavan Plantation6 November 2023SME (BSE)10815.2917.68x107101.65-0.93%-5.88%
Arvind and Company Shipping25 October 2023SME (NSE)4514.74359.62x8080.05+77.78%+77.89%
Committed Cargo18 October 2023SME (NSE)7724.9581.36x8286.10+6.49%+11.82%
Plada Infotech13 October 2023SME (NSE)4812.3654x5956.05+22.92%+16.77%
Oneclick Logistics11 October 2023SME (NSE)999.91172.28x140133+41.41%+34.34%
Kontor Space10 October 2023SME (NSE)9315.6265.20x122115.90+31.18%+24.62%
Updater Services4 October 2023Mainboard3006402.89x285283.90-5%-5.37%
JSW Infra3 October 2023Mainboard1192,80037.37x143157.30+20.17%+32.18%
Techknowgreen Solutions27 September 2023SME (BSE)8616.7212.37x8791.35+1.16%+6.22%
TVS Supply Chain Solutions23 August 2023Mainboard1978802.78x207.05201+5.10%+2.03%
Zeal Global Services9 August 2023SME (NSE)10336.463.90x147154.35+42.72%+49.85%
Service Care26 July 2023SME (NSE)6720.686.16x70.9067.55+5.82%+0.82%
Tridhya Tech13 July 2023SME (NSE)4226.4167.75x4244.100%+5%
Spectrum Talent22 June 2023SME (NSE)173105.1411.70x155147.25-10.40%-14.88%
Infollion Research8 June 2023SME (NSE)8221.45259.05x209198.55+154.88%+142.13%
ITCONS E-Solutions13 March 2023SME (BSE)518.6716.67x46.9949.33-7.86%-3.27%
Transvoy Logistics2 February 2023SME (BSE)715.11174.50x7174.550%+5%
Anlon Technology Solutions10 January 2023SME (NSE)10015397.97x251.10263.65+151.10%+163.65%
Radiant Cash Management4 January 2023Mainboard94264.100.53x103104.90+9.57%+11.60%
Tracxn Technologies20 October 2022Mainboard80309.382.01x84.5093.25+5.62%+16.56%
DreamFolks6 September 2022Mainboard326562.1056.68x508.70462.40+56.04%+41.84%
Delhivery24 May 2022Mainboard4875,2351.63x495.20536.35+1.68%+10.13%
Uma Exports7 April 2022Mainboard68607.67x7679.80+11.76%+17.35%
CMS Infosystems31 December 2021Mainboard2161,1001.95x220.20238.20+1.94%+10.28%
MSTC29 March 2019Mainboard120211.041.46x115113.95-4.17%-5.04%