Mainboard IPOs of 2021: subscription and listing gains
Every mainboard IPO whose bidding closed in 2021, with its size, issue price, how many times each investor category subscribed (NSE and BSE together) and how it did on its first day of trading on NSE. Click a column to sort.
60
Mainboard IPOs
₹62,036 Cr
Raised
+33.0%
Avg listing gain
median +16.7%
75%
Listed at a premium
+42.9%
Avg day-1 high
38.3x
Median subscription
| Company | Closed | Size | Issue price | QIB | NII | Retail | Total | Listing gain | Day high | Day close | Now | AI estimate |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CMS Info SystemsCMSINFO · listed 31 Dec 2021 | 23 Dec | ₹1,159 Cr | ₹216 | 1.98x | 1.45x | 2.15x | 1.95x | +1.9% | +20.2% | +10.3% | — | -3.5%bt |
| Supriya LifescienceSUPRIYA · listed 28 Dec 2021 | 20 Dec | ₹724 Cr | ₹274 | 31.8x | 161x | 56.0x | 71.5x | +53.6% | +53.6% | +42.6% | — | +20.3%bt |
| HP AdhesivesHPAL · listed 27 Dec 2021 | 17 Dec | ₹126 Cr | ₹274 | 1.82x | 19.0x | 81.2x | 21.0x | +15.0% | +20.7% | +20.7% | — | +3.5%bt |
| Data Patterns (India)DATAPATTNS · listed 24 Dec 2021 | 16 Dec | ₹587 Cr | ₹585 | 191x | 254x | 23.1x | 120x | +46.3% | +47.7% | +29.1% | — | +49.9%bt |
| MedPlus Health ServicesMEDPLUS · listed 23 Dec 2021 | 15 Dec | ₹1,428 Cr | ₹796 | 112x | 85.3x | 5.23x | 52.6x | +30.6% | +43.7% | +40.9% | — | +24.2%bt |
| Metro BrandsMETROBRAND · listed 22 Dec 2021 | 14 Dec | ₹1,368 Cr | ₹500 | 8.49x | 3.02x | 1.13x | 3.64x | -12.6% | +1.6% | -1.3% | — | +2.2%bt |
| C.E. Info SystemsMAPMYINDIA · listed 21 Dec 2021 | 13 Dec | ₹1,040 Cr | ₹1,033 | 196x | 425x | 15.2x | 155x | +51.5% | +53.9% | +34.9% | — | +50.5%bt |
| Shriram PropertiesSHRIRAMPPS · listed 20 Dec 2021 | 10 Dec | ₹627 Cr | ₹118 | 1.85x | 4.82x | 12.7x | 4.60x | -23.7% | -9.8% | -15.6% | — | -2.3%bt |
| RateGain Travel TechnologiesRATEGAIN · listed 17 Dec 2021 | 09 Dec | ₹1,336 Cr | ₹425 | 8.42x | 42.0x | 8.08x | 17.4x | -15.3% | -9.9% | -20.0% | — | +4.1%bt |
| Anand Rathi WealthANANDRATHI · listed 14 Dec 2021 | 06 Dec | — | ₹550 | — | — | — | — | +9.1% | +11.8% | +6.1% | — | — |
| Tega IndustriesTEGA · listed 13 Dec 2021 | 03 Dec | — | ₹453 | — | — | — | — | +67.8% | +69.5% | +60.3% | — | — |
| Star Health and Allied Insurance CompanySTARHEALTH · listed 10 Dec 2021 | 02 Dec | — | ₹900 | 1.03x | 0.19x | 1.10x | 0.79x | -6.1% | +4.4% | +0.8% | — | -3.5%bt |
| Go Fashion (India)GOCOLORS · listed 30 Nov 2021 | 22 Nov | — | ₹690 | — | — | — | — | +89.9% | +94.2% | +81.7% | — | — |
| Tarsons ProductsTARSONS · listed 26 Nov 2021 | 17 Nov | — | ₹662 | — | — | — | — | +3.0% | +23.6% | +23.6% | — | — |
| Latent View AnalyticsLATENTVIEW · listed 23 Nov 2021 | 12 Nov | ₹622 Cr | ₹197 | 145x | 851x | 119x | 326x | +160.0% | +178.2% | +148.1% | — | +57.4%bt |
| Sapphire Foods IndiaSAPPHIRE · listed 18 Nov 2021 | 11 Nov | — | ₹1,180 | — | — | — | — | +14.4% | +16.9% | +2.7% | — | — |
| One 97 CommunicationsPAYTM · listed 18 Nov 2021 | 10 Nov | — | ₹2,150 | — | — | — | — | -9.3% | -9.1% | -27.4% | — | — |
| Sigachi IndustriesSIGACHI · listed 15 Nov 2021 | 03 Nov | ₹125 Cr | ₹163 | 86.5x | 172x | 80.5x | 102x | +249.7% | +267.2% | +267.2% | — | +66.9%bt |
| PB FintechPOLICYBZR · listed 15 Nov 2021 | 03 Nov | ₹6,224 Cr | ₹980 | 24.9x | 7.82x | 3.31x | 16.6x | +17.4% | +27.4% | +22.7% | — | +10.9%bt |
| S J S EnterprisesSJS · listed 15 Nov 2021 | 03 Nov | ₹817 Cr | ₹542 | 1.42x | 2.32x | 1.38x | 1.59x | 0.0% | +1.7% | -5.9% | — | +5.6%bt |
| FINO Payments BankFINOPB · listed 12 Nov 2021 | 02 Nov | — | ₹577 | — | — | — | — | -5.7% | +1.0% | -5.7% | — | — |
| FSN Ecommerce VenturesNYKAA · listed 10 Nov 2021 | 01 Nov | — | ₹1,125 | 91.2x | 112x | 12.2x | 81.8x | +79.4% | +99.8% | +96.1% | — | +53.8%bt |
| Aditya Birla Sun Life AMCABSLAMC · listed 11 Oct 2021 | 01 Oct | — | ₹712 | — | — | — | — | +0.4% | +1.5% | -1.8% | — | — |
| Paras Defence and Space TechnologiesPARAS · listed 01 Oct 2021 | 23 Sep | — | ₹175 | — | — | — | — | +168.0% | +181.4% | +181.4% | — | — |
| Sansera EngineeringSANSERA · listed 24 Sep 2021 | 16 Sep | — | ₹744 | — | — | — | — | +9.1% | +13.2% | +10.0% | — | — |
| Ami OrganicsAMIORG · listed 14 Sep 2021 | 03 Sep | ₹569 Cr | ₹610 | 86.6x | 155x | 13.4x | 64.5x | +49.2% | +58.5% | +53.3% | — | +27.5%bt |
| Vijaya Diagnostic CentreVIJAYA · listed 14 Sep 2021 | 03 Sep | ₹1,895 Cr | ₹531 | 13.1x | 1.32x | 1.09x | 4.54x | +1.7% | +22.0% | +16.8% | — | +4.4%bt |
| Chemplast SanmarCHEMPLASTS · listed 24 Aug 2021 | 12 Aug | — | ₹541 | — | — | — | — | +1.7% | +1.7% | -1.0% | — | — |
| Aptus Value Housing Finance IndiaAPTUS · listed 24 Aug 2021 | 12 Aug | ₹2,780 Cr | ₹353 | 32.4x | 33.9x | 1.35x | 17.2x | -5.7% | +0.5% | -1.7% | — | +17.1%bt |
| CarTrade TechCARTRADE · listed 20 Aug 2021 | 11 Aug | ₹2,999 Cr | ₹1,618 | 35.4x | 41.0x | 2.75x | 20.3x | -1.1% | 0.0% | -7.2% | — | +11.9%bt |
| Windlas BiotechWINDLAS · listed 16 Aug 2021 | 06 Aug | ₹401 Cr | ₹460 | 24.4x | 15.7x | 24.3x | 22.5x | -5.0% | -1.7% | -11.5% | — | +13.9%bt |
| Krsnaa DiagnosticsKRSNAA · listed 16 Aug 2021 | 06 Aug | ₹1,215 Cr | ₹954 | 49.8x | 116x | 42.0x | 64.4x | +5.4% | +15.3% | +3.5% | — | +18.4%bt |
| Devyani InternationalDEVYANI · listed 16 Aug 2021 | 06 Aug | ₹1,838 Cr | ₹90.0 | 95.3x | 213x | 39.5x | 117x | +56.6% | +56.6% | +37.2% | — | +47.1%bt |
| Exxaro TilesEXXARO · listed 16 Aug 2021 | 06 Aug | ₹161 Cr | ₹120 | 17.7x | 5.36x | 40.1x | 22.7x | +5.0% | +10.2% | +10.2% | — | +11.1%bt |
| Rolex RingsROLEXRINGS · listed 09 Aug 2021 | 30 Jul | — | ₹900 | — | — | — | — | +38.9% | +40.3% | +29.7% | — | — |
| Glenmark Life SciencesGLS · listed 06 Aug 2021 | 29 Jul | ₹1,539 Cr | ₹720 | 37.0x | 123x | 14.6x | 44.2x | +4.2% | +11.0% | +4.0% | — | +16.0%bt |
| Tatva Chintan Pharma ChemTATVA · listed 29 Jul 2021 | 20 Jul | ₹505 Cr | ₹1,083 | 185x | 512x | 35.3x | 180x | +95.0% | +134.0% | +113.5% | — | +51.2%bt |
| ZomatoZOMATO · listed 23 Jul 2021 | 16 Jul | ₹9,899 Cr | ₹76.0 | 51.8x | 33.0x | 7.45x | 38.3x | +52.6% | +82.8% | +65.8% | — | +10.5%bt |
| G R InfraprojectsGRINFRA · listed 19 Jul 2021 | 09 Jul | ₹963 Cr | ₹837 | 169x | 238x | 12.6x | 103x | +105.0% | +119.6% | +108.7% | — | +39.6%bt |
| Clean Science and TechnologyCLEAN · listed 19 Jul 2021 | 09 Jul | ₹1,582 Cr | ₹900 | 156x | 206x | 9.00x | 93.4x | +95.0% | +96.7% | +76.1% | — | +29.8%bt |
| India PesticidesIPL · listed 05 Jul 2021 | 25 Jun | ₹817 Cr | ₹296 | 42.9x | 51.9x | 11.3x | 29.0x | +18.2% | +24.3% | +15.9% | — | +17.7%bt |
| Dodla DairyDODLA · listed 28 Jun 2021 | 18 Jun | ₹520 Cr | ₹428 | 84.9x | 73.3x | 11.3x | 45.6x | +28.5% | +52.3% | +42.5% | — | +37.4%bt |
| Krishna Institute of Medical SciencesKIMS · listed 28 Jun 2021 | 18 Jun | ₹2,145 Cr | ₹825 | 5.26x | 1.89x | 2.89x | 3.86x | +22.3% | +28.4% | +20.8% | — | -1.4%bt |
| Sona BLW Precision ForgingsSONACOMS · listed 24 Jun 2021 | 16 Jun | ₹5,667 Cr | ₹291 | 3.46x | 0.39x | 1.57x | 2.28x | +3.4% | +24.1% | +24.1% | — | -0.2%bt |
| Shyam Metalics and EnergySHYAMMETL · listed 24 Jun 2021 | 16 Jun | — | ₹306 | — | — | — | — | +24.2% | +30.4% | +22.9% | — | — |
| Macrotech DevelopersLODHA · listed 19 Apr 2021 | 09 Apr | ₹2,516 Cr | ₹486 | 3.05x | 1.44x | 0.40x | 1.36x | -10.3% | -1.6% | -4.3% | — | -2.6%bt |
| Barbeque-Nation HospitalityBARBEQUE · listed 07 Apr 2021 | 26 Mar | ₹453 Cr | ₹500 | 5.11x | 3.10x | 13.1x | 5.98x | -2.0% | +17.6% | +17.6% | — | -0.8%bt |
| Nazara TechnologiesNAZARA · listed 30 Mar 2021 | 19 Mar | ₹583 Cr | ₹1,101 | 104x | 390x | 75.3x | 175x | +80.7% | +83.9% | +44.6% | — | +53.2%bt |
| Suryoday Small Finance BankSURYODAY · listed 26 Mar 2021 | 19 Mar | ₹582 Cr | ₹305 | 2.18x | 1.31x | 3.09x | 2.37x | -4.3% | -2.8% | -8.9% | — | +1.9%bt |
| Kalyan Jewellers IndiaKALYANKJIL · listed 26 Mar 2021 | 18 Mar | — | ₹87.0 | — | — | — | — | -15.0% | -6.9% | -13.6% | — | — |
| Craftsman AutomationCRAFTSMAN · listed 25 Mar 2021 | 17 Mar | ₹824 Cr | ₹1,490 | 5.21x | 2.84x | 3.43x | 3.81x | -8.8% | 0.0% | -3.6% | — | +1.2%bt |
| Laxmi Organic IndustriesLXCHEM · listed 25 Mar 2021 | 17 Mar | ₹605 Cr | ₹130 | 175x | 218x | 20.1x | 107x | +19.6% | +34.3% | +26.5% | — | +48.7%bt |
| Easy Trip PlannersEASEMYTRIP · listed 19 Mar 2021 | 10 Mar | ₹513 Cr | ₹187 | 77.5x | 382x | 70.4x | 159x | +13.5% | +25.1% | +11.5% | — | +53.7%bt |
| MTAR TechnologiesMTARTECH · listed 15 Mar 2021 | 05 Mar | — | ₹575 | — | — | — | — | +82.6% | +100.8% | +88.3% | — | — |
| Heranba IndustriesHERANBA · listed 05 Mar 2021 | 25 Feb | ₹625 Cr | ₹627 | 67.4x | 271x | 11.8x | 83.3x | +43.5% | +50.7% | +29.6% | — | +38.8%bt |
| RailTel Corporation of IndiaRAILTEL · listed 26 Feb 2021 | 18 Feb | ₹820 Cr | ₹94.0 | 65.1x | 73.3x | 16.8x | 42.4x | +16.0% | +36.0% | +29.1% | — | +21.5%bt |
| NurecaNURECA · listed 25 Feb 2021 | 17 Feb | ₹101 Cr | ₹400 | 3.10x | 31.6x | 167x | 39.9x | +53.8% | +61.4% | +61.4% | — | +11.5%bt |
| Stove KraftSTOVEKRAFT · listed 05 Feb 2021 | 28 Jan | ₹413 Cr | ₹385 | 8.02x | 32.7x | 26.0x | 18.0x | +29.4% | +29.4% | +15.8% | — | +20.1%bt |
| Home First Finance Company IndiaHOMEFIRST · listed 03 Feb 2021 | 25 Jan | ₹1,156 Cr | ₹518 | 52.5x | 39.0x | 6.59x | 26.7x | +19.5% | +23.6% | +1.8% | — | +25.9%bt |
| Indigo PaintsINDIGOPNTS · listed 02 Feb 2021 | 22 Jan | ₹1,170 Cr | ₹1,490 | 190x | 263x | 15.9x | 117x | +75.0% | +110.0% | +109.2% | — | +74.0%bt |
Subscription and issue size: for these issues, the figures NSE publishes (NSE and BSE bids together; for issues sized in rupees NSE counts the shares on offer at the lower end of the price band, so these can be up to about 7% below final figures quoted elsewhere) and an issue size estimated from the shares on offer (including the anchor book) at the issue price. "Now" is the latest NSE close against the issue price, not adjusted for later splits or bonuses. bt marks a back-tested AI estimate: scored by a model that had only seen earlier years' IPOs.
AI estimates for 2021 against the outcome
45
IPOs scored
76%
Right side of issue price
88%
On clear calls
estimate ±5% or more
11.5 pts
Median miss
58%
Inside likely range
2021 listings by QIB demand
| QIB subscription | IPOs | Avg listing gain | Median | At a premium | Median day high |
|---|---|---|---|---|---|
| 1x to 10x | 15 | +2.8% | -2.0% | 40% | +4.4% |
| 10x to 50x | 10 | +9.4% | +4.6% | 70% | +13.1% |
| 50x to 150x | 13 | +67.7% | +49.2% | 100% | +56.6% |
| Above 150x | 7 | +69.6% | +75.0% | 100% | +96.7% |
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.
