Top 10 IPOs 2025
Rankings of mainboard IPOs on NSE and BSE that closed in 2025: size, listing day, demand from each investor category and how they have done since listing. Listing figures are NSE's prices against the issue price.
Biggest IPOs
| # | IPO | Issue size |
|---|---|---|
| 1 | HDB Financial Services Jun 2025 | ₹13,214 Cr |
| 2 | LG Electronics India Oct 2025 | ₹11,607 Cr |
| 3 | ICICI Prudential Asset Management Company Dec 2025 | ₹10,603 Cr |
| 4 | Hexaware Technologies Feb 2025 | ₹9,202 Cr |
| 5 | Lenskart Solutions Nov 2025 | ₹7,279 Cr |
| 6 | Billionbrains Garage Ventures Nov 2025 | ₹6,632 Cr |
| 7 | Meesho Dec 2025 | ₹5,589 Cr |
| 8 | National Securities Depository Aug 2025 | ₹4,012 Cr |
| 9 | Pine Labs Nov 2025 | ₹3,902 Cr |
| 10 | JSW Cement Aug 2025 | ₹3,807 Cr |
Best listings
| # | IPO | Listing gain |
|---|---|---|
| 1 | Highway Infrastructure Aug 2025 | +64.3% |
| 2 | Urban Company Sep 2025 | +57.5% |
| 3 | Aditya Infotech Jul 2025 | +50.4% |
| 4 | LG Electronics India Oct 2025 | +50.0% |
| 5 | GNG Electronics Jul 2025 | +49.8% |
| 6 | Meesho Dec 2025 | +46.4% |
| 7 | Corona Remedies Dec 2025 | +38.4% |
| 8 | Regaal Resources Aug 2025 | +38.2% |
| 9 | Sambhv Steel Tubes Jun 2025 | +34.1% |
| 10 | Stallion India Fluorochemicals Jan 2025 | +33.3% |
Worst listings
| # | IPO | Listing gain |
|---|---|---|
| 1 | Om Freight Forwarders Oct 2025 | -39.6% |
| 2 | Glottis Oct 2025 | -34.9% |
| 3 | BMW Ventures Sep 2025 | -21.2% |
| 4 | Laxmi India Finance Jul 2025 | -13.0% |
| 5 | Brigade Hotel Ventures Jul 2025 | -9.9% |
| 6 | Epack Prefab Technologies Sep 2025 | -9.9% |
| 7 | Indiqube Spaces Jul 2025 | -8.9% |
| 8 | Ajax Engineering Feb 2025 | -8.4% |
| 9 | Ganesh Consumer Products Sep 2025 | -8.1% |
| 10 | Arisinfra Solutions Jun 2025 | -7.7% |
Highest day-1 high
| # | IPO | Day high vs issue |
|---|---|---|
| 1 | Urban Company Sep 2025 | +73.8% |
| 2 | Highway Infrastructure Aug 2025 | +72.5% |
| 3 | Aditya Infotech Jul 2025 | +63.6% |
| 4 | Meesho Dec 2025 | +59.9% |
| 5 | LG Electronics India Oct 2025 | +53.4% |
| 6 | Quadrant Future Tek Jan 2025 | +53.1% |
| 7 | GNG Electronics Jul 2025 | +51.6% |
| 8 | Physicswallah Nov 2025 | +48.6% |
| 9 | Regaal Resources Aug 2025 | +42.8% |
| 10 | Corona Remedies Dec 2025 | +41.0% |
Most subscribed overall
| # | IPO | Total |
|---|---|---|
| 1 | Highway Infrastructure Aug 2025 | 301x |
| 2 | Indo Farm Equipment Jan 2025 | 230x |
| 3 | Denta Water and Infra Solutions Jan 2025 | 222x |
| 4 | Stallion India Fluorochemicals Jan 2025 | 188x |
| 5 | Quadrant Future Tek Jan 2025 | 187x |
| 6 | Standard Glass Lining Technology Jan 2025 | 183x |
| 7 | Regaal Resources Aug 2025 | 160x |
| 8 | Borana Weaves May 2025 | 149x |
| 9 | GNG Electronics Jul 2025 | 148x |
| 10 | Corona Remedies Dec 2025 | 137x |
Most subscribed by institutions
| # | IPO | QIB |
|---|---|---|
| 1 | Highway Infrastructure Aug 2025 | 421x |
| 2 | Standard Glass Lining Technology Jan 2025 | 332x |
| 3 | Corona Remedies Dec 2025 | 279x |
| 4 | Patel Retail Aug 2025 | 272x |
| 5 | GNG Electronics Jul 2025 | 266x |
| 6 | Indo Farm Equipment Jan 2025 | 242x |
| 7 | Denta Water and Infra Solutions Jan 2025 | 237x |
| 8 | Sudeep Pharma Nov 2025 | 213x |
| 9 | Atlanta Electricals Sep 2025 | 195x |
| 10 | Regaal Resources Aug 2025 | 191x |
Most subscribed by HNIs
| # | IPO | NII |
|---|---|---|
| 1 | Denta Water and Infra Solutions Jan 2025 | 507x |
| 2 | Indo Farm Equipment Jan 2025 | 504x |
| 3 | Highway Infrastructure Aug 2025 | 447x |
| 4 | Stallion India Fluorochemicals Jan 2025 | 422x |
| 5 | Regaal Resources Aug 2025 | 357x |
| 6 | Standard Glass Lining Technology Jan 2025 | 269x |
| 7 | Quadrant Future Tek Jan 2025 | 255x |
| 8 | Borana Weaves May 2025 | 237x |
| 9 | GNG Electronics Jul 2025 | 228x |
| 10 | VMS TMT Sep 2025 | 227x |
Most subscribed by retail
| # | IPO | Retail |
|---|---|---|
| 1 | Quadrant Future Tek Jan 2025 | 247x |
| 2 | Borana Weaves May 2025 | 201x |
| 3 | Dev Accelerator Sep 2025 | 165x |
| 4 | Highway Infrastructure Aug 2025 | 156x |
| 5 | Indo Farm Equipment Jan 2025 | 105x |
| 6 | Stallion India Fluorochemicals Jan 2025 | 96.9x |
| 7 | Denta Water and Infra Solutions Jan 2025 | 90.6x |
| 8 | Aequs Dec 2025 | 78.0x |
| 9 | Laxmi Dental Jan 2025 | 76.2x |
| 10 | Standard Glass Lining Technology Jan 2025 | 65.0x |
Best since listing
| # | IPO | Now vs issue |
|---|---|---|
| 1 | Aditya Infotech Jul 2025 | +462.7% |
| 2 | Ather Energy Apr 2025 | +329.9% |
| 3 | Shreeji Shipping Global Aug 2025 | +208.2% |
| 4 | Quality Power Electrical Equipments Feb 2025 | +207.2% |
| 5 | Rubicon Research Oct 2025 | +193.7% |
| 6 | GNG Electronics Jul 2025 | +188.0% |
| 7 | KSH International Dec 2025 | +131.3% |
| 8 | Belrise Industries May 2025 | +126.7% |
| 9 | Atlanta Electricals Sep 2025 | +114.8% |
| 10 | Stallion India Fluorochemicals Jan 2025 | +103.6% |
Worst since listing
| # | IPO | Now vs issue |
|---|---|---|
| 1 | Anlon Healthcare Aug 2025 | -71.9% |
| 2 | Solarworld Energy Solutions Sep 2025 | -69.0% |
| 3 | Oswal Pumps Jun 2025 | -64.3% |
| 4 | Vikram Solar Aug 2025 | -61.5% |
| 5 | Laxmi Dental Jan 2025 | -60.2% |
| 6 | Glottis Oct 2025 | -59.1% |
| 7 | Jaro Institute of Technology Management and Research Sep 2025 | -58.7% |
| 8 | Gem Aromatics Aug 2025 | -58.4% |
| 9 | VMS TMT Sep 2025 | -57.6% |
| 10 | Mangal Electrical Industries Aug 2025 | -56.5% |
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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
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