Data study
How Indian IPOs perform on listing day
Everyone quotes GMP, but what actually happens when an IPO lists? We track the real numbers — average and median listing gains, how often IPOs list at a premium, and Mainboard vs SME — from every IPO we’ve recorded a listing for.
By the ipostation Research Desk · 195 listed IPOs analysed
Avg listing gain+16.9%mean, vs issue price
Median gain+4.4%typical outcome
Listed positive76%at/above issue
Doubled1%100%+ on listing
Across 195 listed IPOs, the average listing-day gain was +16.9% (median +4.4%), with 76% listing at or above their issue price. Mainboard averaged +17.6% (77) versus +16.5% for SME (118). Averages are skewed by outliers — the median is the more typical outcome.
Distribution of listing gains
Discount (<0%)
47 · 24%
0–20%
89 · 46%
20–50%
31 · 16%
50–100%
27 · 14%
Doubled (100%+)
1 · 1%
By listing year
| Year | IPOs | Avg gain |
|---|---|---|
| 2026 | 194 | +16.7% |
| 2024 | 1 | +58.5% |
Top listings by gain
| IPO | Issue | Listing | Gain | Listed |
|---|---|---|---|---|
| Tempsens Instruments (India)MB | ₹300 | ₹631.2 | +110.4% | 28 Aug 2026 |
| Millworks TechnologiesSME | ₹331 | ₹628.9 | +90.0% | 21 Jul 2026 |
| Credent ConnectSME | ₹189 | ₹359.1 | +90.0% | 20 Aug 2026 |
| Avience BiomedicalsSME | ₹208 | ₹395.2 | +90.0% | 25 Jun 2026 |
| Roopa ScreenSME | ₹64 | ₹121.6 | +90.0% | 1 Oct 2026 |
| Robokidz EduventuresSME | ₹106 | ₹201.4 | +90.0% | 28 Sept 2026 |
| SpectraA Technology SolutionsSME | ₹118 | ₹224.2 | +90.0% | 24 Sept 2026 |
| MerritronixSME | ₹149 | ₹283.1 | +90.0% | 8 Jun 2026 |
| Shanti InorganicsSME | ₹83 | ₹157.7 | +90.0% | 7 Sept 2026 |
| Vans ElectroengineeringsSME | ₹118 | ₹224.2 | +90.0% | 7 Oct 2026 |
| Teja Engineering IndustriesSME | ₹220 | ₹418 | +90.0% | 7 Jul 2026 |
| Shree Balaji MalaSME | ₹70 | ₹133 | +90.0% | 29 Jul 2026 |
| Farm PeaceSME | ₹59 | ₹112.1 | +90.0% | 8 Sept 2026 |
| Sollfege Smart ElectronicsSME | ₹55 | ₹104.4 | +89.8% | 8 Oct 2026 |
| Adroit IndustriesMB | ₹134 | ₹250 | +86.6% | 30 Sept 2026 |
| Qualiance InternationalSME | ₹127 | ₹224.9 | +77.1% | 11 Sept 2026 |
| Technocrats Plasma SystemsSME | ₹132 | ₹230 | +74.2% | 21 Aug 2026 |
| ESDS Software SolutionMB | ₹429 | ₹746.3 | +74.0% | 4 Sept 2026 |
| IC ElectricalsSME | ₹99 | ₹166 | +67.7% | 10 Jul 2026 |
| Kwick Forensic SolutionsSME | ₹90 | ₹150 | +66.7% | 3 Sept 2026 |
| Devson CatalystSME | ₹118 | ₹196.15 | +66.2% | 16 Jul 2026 |
| Orient CablesMB | ₹272 | ₹448.1 | +64.7% | 5 Oct 2026 |
| MoneyviewMB | ₹34 | ₹55.61 | +63.6% | 1 Oct 2026 |
| Behari Lal EngineeringMB | ₹285 | ₹458 | +60.7% | 19 Aug 2026 |
| One Mobikwik SystemsMB | ₹279 | ₹442.25 | +58.5% | 18 Dec 2024 |
See the full directory on the listed IPO page.
Method. Listing gain is the listing-day price versus the issue price, using the official BSE listing price. Only IPOs with a real listing outcome are included, so the sample grows over time. Full sourcing is in our methodology; past performance is not indicative of future results — see the disclaimer.