How IPOs do after listing day

Listing-day gains get the headlines. This page follows 479 mainboard IPOs since 2016 for the year after they listed: where they stood against the issue price one week, one month, three months, six months and one year later, and whether the first day's move held. Prices are NSE's, adjusted for later splits and bonuses.

After listing, all IPOs

Time after listing	IPOs	Median vs issue price	Average	Above issue price	Change after day 1 (median)
1 week	479	+11.8%	+21.1%	69%	-1.5%
1 month	460	+15.9%	+22.5%	69%	-1.8%
3 months	419	+17.1%	+25.4%	68%	+0.4%
6 months	404	+20.4%	+33.2%	67%	-0.2%
1 year	363	+23.9%	+44.4%	64%	+0.2%

"Change after day 1" compares the listing-day close with the later price: positive means the stock kept rising after its first session, negative that part of the first day's gain faded. Averages are pulled up by a few very large winners; the median is the typical IPO.

Did a big listing pop last?

Listing day	IPOs	Median listing gain	3 months: median	above issue	1 year: median	above issue	Day-1 close to 1 year
Listed at a discount	105	-6.1%	-10.0%	36%	-16.8%	39%	-7.4%
0% to 10% premium	141	+3.0%	+7.7%	61%	+2.7%	53%	-2.4%
10% to 30% premium	103	+16.8%	+24.5%	82%	+29.7%	72%	+8.8%
30% to 60% premium	82	+39.3%	+38.7%	92%	+50.4%	82%	+6.3%
Above 60% premium	48	+88.0%	+76.4%	93%	+76.8%	93%	-16.5%

Institutional demand and what came next

QIB subscription	IPOs	Median listing gain	3 months: median	above issue	1 year: median	above issue	Day-1 close to 1 year
1x to 10x	149	0.0%	+2.4%	53%	+8.0%	56%	+8.2%
10x to 50x	89	+4.3%	+8.1%	58%	-5.9%	48%	-8.7%
50x to 150x	119	+25.8%	+29.1%	85%	+36.8%	75%	+6.5%
Above 150x	88	+37.6%	+36.4%	85%	+47.9%	81%	-0.5%

Fresh issue or offer for sale

A fresh issue raises money for the company; an offer for sale lets existing shareholders sell. Split read from the issue size each IPO lists on NSE.

Issue structure	IPOs	Median listing gain	3 months: median	above issue	1 year: median	above issue	Day-1 close to 1 year
Fresh issue only	52	+5.2%	+22.9%	61%	+17.6%	61%	-7.4%
Fresh issue and offer for sale	275	+10.5%	+15.8%	68%	+22.9%	63%	-1.8%
Offer for sale only	37	+13.5%	+24.4%	80%	+20.1%	57%	-11.4%

Mutual funds among the anchor investors

Share of the anchor book taken by Indian mutual funds, from the company's anchor allocation letter on NSE (available for the issues whose letter is machine-readable).

Anchor book	IPOs	Median listing gain	3 months: median	above issue	1 year: median	above issue	Day-1 close to 1 year
25% to 50%	39	+12.8%	+30.1%	82%	+49.1%	80%	+10.2%
Over 50%	28	+29.4%	+17.6%	81%	+16.4%	56%	-24.2%

Best a year after listing

IPO	Listing gain	1 year
Happiest Minds Technologies Sep 2020	+110.8%	+773.9%
Route Mobile Sep 2020	+104.9%	+470.7%
Aditya Infotech Aug 2025	+50.4%	+441.7%
Motisons Jewellers Dec 2023	+98.2%	+421.4%
Avenue Supermarts Mar 2017	+100.7%	+341.6%
Netweb Technologies India Jul 2023	+89.4%	+334.8%
Indian Railway Catering and Tourism Corporation Oct 2019	+95.6%	+318.1%
Kaynes Technology India Nov 2022	+32.5%	+317.4%
Signatureglobal (India) Sep 2023	+15.3%	+297.5%
KRN Heat Exchanger and Refrigeration Oct 2024	+118.2%	+276.0%

Worst a year after listing

IPO	Listing gain	1 year
One 97 Communications Nov 2021	-9.3%	-77.8%
Suryoday Small Finance Bank Mar 2021	-4.3%	-71.2%
FINO Payments Bank Nov 2021	-5.7%	-67.4%
Popular Vehicles and Services Mar 2024	-2.0%	-66.3%
Solarworld Energy Solutions Sep 2025	+10.7%	-63.2%
PB Fintech Nov 2021	+17.4%	-62.1%
CarTrade Tech Aug 2021	-1.1%	-60.9%
Apollo Micro Systems Jan 2018	+69.1%	-58.1%
Glottis Oct 2025	-34.9%	-54.5%
Jaro Institute of Technology Management and Research Sep 2025	0.0%	-54.1%

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Important: The AI listing estimates on Flash Finance are statistical estimates drawn from how past Indian IPOs have listed. They are not a forecast of what any IPO will do, not a recommendation to apply, buy or sell, and not investment advice. Listing prices depend on market conditions on the listing day and can differ widely from any estimate; past patterns may not repeat. Subscription figures are as published by NSE (bids on NSE and BSE together) and can be revised. Flash Finance is not a SEBI-registered investment adviser or research analyst. Read the issue's Red Herring Prospectus and consult a SEBI-registered adviser before you invest.