Closed IPOs 2025
371 mainboard & sme IPOs in 2025: 0 open for bidding, 0 upcoming and 371 closed. In 2025, 223 of 361 listed IPOs opened above the issue price , led by Indobell Insulation IPO at +90.0%.
Last updated
- IPOs in 2025
- 371
- 106 Mainboard · 265 SME
- Funds raised
- ₹2,04,943 Cr
- Total issue size
- Listed in profit
- 62%
- 223 of 361 listings
- Avg. listing gain
- +10.6%
- Median +3.3%
- Avg. subscription
- 73.47x
- Across all categories
IPO list
| Company | Dates | Price band | Issue size | Subs. | GMP / Listing | Status |
|---|---|---|---|---|---|---|
| Denta Water IPO Mainboard BSE,NSE | – | ₹279–294 | ₹220.50 Cr | 221.68x | +10.5% | Listed |
| Rexpro Enterprises IPO SME NSE | – | ₹145 | ₹53.65 Cr | 17.77x | -19.3% | Listed |
| CapitalNumbers Infotech IPO SME BSE | – | ₹250–263 | ₹169.37 Cr | 134.70x | +4.2% | Listed |
| EMA Partners IPO SME NSE | – | ₹117–124 | ₹76.01 Cr | 221.14x | +26.2% | Listed |
| Landmark Immigration IPO SME BSE | – | ₹70–72 | ₹40.32 Cr | 72.99x | +4.2% | Listed |
| Stallion India IPO Mainboard BSE,NSE | – | ₹85–90 | ₹199.45 Cr | 188.37x | +33.3% | Listed |
| Kabra Jewels IPO SME NSE | – | ₹121–128 | ₹40 Cr | 356.17x | +90.0% | Listed |
| Rikhav Securities IPO SME BSE | – | ₹82–86 | ₹88.82 Cr | 285.33x | +90.0% | Listed |
| Laxmi Dental IPO Mainboard BSE,NSE | – | ₹407–428 | ₹698.06 Cr | 114.26x | +26.6% | Listed |
| Sat Kartar Shopping IPO SME NSE | – | ₹77–81 | ₹33.80 Cr | 342.77x | +90.0% | Listed |
| Barflex Polyfilms IPO SME NSE | – | ₹57–60 | ₹39.42 Cr | 151.53x | 0.0% | Listed |
| Quadrant Future Tek IPO Mainboard BSE,NSE | – | ₹275–290 | ₹290 Cr | 186.64x | +27.6% | Listed |
| Delta Autocorp IPO SME NSE | – | ₹123–130 | ₹54.60 Cr | 342.21x | +34.6% | Listed |
| B.R.Goyal IPO SME BSE | – | ₹128–135 | ₹85.21 Cr | 119.23x | +0.6% | Listed |
| Avax Apparels And Ornaments IPO SME BSE | – | ₹70 | ₹1.92 Cr | 260.48x | +90.0% | Listed |
| Capital Infra Trust InvIT Mainboard NSE,BSE | – | ₹99–100 | ₹1,578 Cr | — | -1.0% | Listed |
| Standard Glass Lining IPO Mainboard BSE,NSE | – | ₹133–140 | ₹410.05 Cr | 183.18x | +22.9% | Listed |
| Indobell Insulation IPO SME BSE | – | ₹46 | ₹10.14 Cr | 54.18x | +90.0% | Listed |
| Davin Sons IPO SME BSE | – | ₹55 | ₹8.78 Cr | 120.85x | -20.0% | Listed |
| Parmeshwar Metal IPO SME BSE | – | ₹57–61 | ₹24.74 Cr | 607.13x | +38.5% | Listed |
| Leo Dry Fruits and Spices IPO SME BSE | – | ₹51–52 | ₹25.12 Cr | 169.08x | +30.8% | Listed |
GMP / Listing shows the grey market premium (as % of the upper price band) until listing, then the listing-day gain.
IPO activity, last 12 months
347 IPOs opened in the last 12 months. The busiest month was September 2026 with 86 issues.
How 2025 IPOs listed
Listing-day gain for 361 IPOs that listed in 2025. The weakest debut was Arunaya Organics IPO at -48.1%.
| Below −10% | 57 | 16% |
|---|---|---|
| −10% to 0 | 49 | 14% |
| 0 to 10% | 128 | 35% |
| 10 to 50% | 92 | 25% |
| Above 50% | 35 | 10% |
Listing gain = listing-day open price vs upper price band.
Browse IPOs by year
IPO list: FAQs
- How many IPOs are listed on IPO Master?
- IPO Master tracks 371 Mainboard and SME IPOs, including 0 open for bidding and 0 upcoming. Each IPO has its own page with price band, lot size, subscription, GMP, allotment and listing details.
- How many IPOs have come in 2025?
- 371 IPOs have opened in 2025 so far (106 Mainboard and 265 SME), raising about ₹2,04,942.88 Cr. Of the 361 that have listed, 223 listed above the issue price.
- What is the difference between Mainboard and SME IPOs?
- Mainboard IPOs list on the main NSE and BSE platforms and allow retail applications from one lot (about ₹15,000). SME IPOs list on NSE Emerge or BSE SME, are smaller issues, and need a minimum application of more than ₹2 lakh for individual investors. SME IPOs tend to be more volatile on listing.
- What do the IPO statuses mean?
- Upcoming IPOs have announced dates but have not opened. Open (ongoing) IPOs are accepting bids. Closed IPOs have finished bidding and are awaiting allotment or listing. Listed IPOs are trading on the exchange.
- How is the listing gain calculated?
- Listing gain is the difference between the listing-day opening price and the upper end of the price band, as a percentage of the upper price band.
IPO details are compiled from offer documents and NSE/BSE data. GMP is an unofficial indicator. For information only; not investment advice.