When a private company wants to grow, it can sell a slice of itself to the public for the first time — that's an IPO. You buy shares at a fixed price; a few days later they start trading, and if they open higher than you paid, that day-one jump is your "listing gain". Here's how it works — plus the biggest debut pops of the last five years.
How a listing gain works
Issue price (what you pay)Listing price (day 1)
Start Here
Six words that unlock every IPO
Get these and the rest is easy — the news headlines about every IPO use the same handful of terms.
IPO
Going public
Initial Public Offering — the first time a private company sells its shares to the public and lists on the stock market.
Issue price
What you pay
The fixed price (or price band) at which the company sells you shares in the IPO, before trading begins.
Lot size
The minimum bundle
IPO shares are sold in fixed bundles called "lots". You apply in multiples of one lot, not single shares.
Subscription
How much demand
How many times the IPO was booked versus shares on offer. "10× oversubscribed" means 10× more demand than supply.
Listing day
Trading begins
The day the shares start trading on the exchange. The first price they trade at is the "listing price".
Listing gain
The day-one pop
How far the listing price sits above (or below) the issue price, as a percentage — your instant profit, or loss.
Five Years of Debuts
The biggest IPO pops, year by year
Tap any year to see its five biggest listing-day gains — how much the stock jumped on day one versus its issue price. Figures are approximate and don't predict how the stock performed later.
2025
Busiest year on record
Over 100 mainboard IPOs raised ₹1.8 lakh crore — but with so many offers, the average day-one pop shrank to single digits.
Plenty of IPOs · pickier gains
01
Highway InfrastructureBuilds highways and runs toll plazas — a small Indore-based road-infrastructure and tolling company.
~72%listing gain
02
Urban CompanyIndia's largest home-services app — book a beautician, plumber, cleaner or electrician online.
~62%listing gain
03
Aditya InfotechSells CCTV cameras and security systems under the well-known "CP Plus" brand; a leader in India's surveillance market.
~60%listing gain
04
MeeshoA budget online-shopping app linking small sellers with value buyers, mostly in smaller towns and cities.
~53%listing gain
05
Quadrant Future TekMakes specialty cables and train-control & signalling electronics for Indian Railways.
~53%listing gain
2024
A blockbuster year
91 mainboard IPOs raised a then-record ₹1.6 lakh crore; the average listing gain was ~30%, and several debutants doubled on day one.
Record fund-raising
01
Vibhor Steel TubesMakes steel pipes and tubes for water, construction and industry; a long-time supplier to Jindal Pipes.
~181%listing gain
02
BLS E-ServicesRuns digital-service and banking-correspondent counters that bring banking and government services to small towns.
~175%listing gain
03
Mamata MachineryBuilds packaging and bag-making machines used by food and FMCG firms to make pouches and wrappers.
~159%listing gain
04
Bajaj Housing FinanceThe home-loan arm of the Bajaj group; one of India's largest and fastest-growing mortgage lenders.
~136%listing gain
05
Unicommerce eSolutionsIndia's leading e-commerce software, helping online sellers manage orders, inventory and warehouses.
~118%listing gain
2023
The comeback year
After a quiet 2022, demand roared back. Tata Technologies' debut was the first Tata Group IPO in nearly two decades.
Demand roared back
01
Tata TechnologiesA Tata Group engineering firm that helps carmakers and aircraft makers design their products.
~163%listing gain
02
ideaForge TechnologyOne of India's top drone makers, supplying surveillance and mapping drones to the army and police.
~93%listing gain
03
Utkarsh Small Finance BankA small finance bank focused on lending to rural and unbanked customers, with microfinance roots.
~92%listing gain
04
IREDAA government-owned lender that finances solar, wind and other renewable-energy projects across India.
Global rate hikes and the war chilled markets. Big names like LIC and Delhivery slipped below their issue price, and listing pops stayed modest.
Muted listings
01
DCX SystemsAssembles electronic cable and wiring systems for defence and aerospace — missiles, radars and aircraft.
~49%listing gain
02
Harsha EngineersWorld's leading maker of "bearing cages" — the rings that keep ball bearings evenly spaced. Supplies global brands.
~47%listing gain
03
Hariom Pipe IndustriesA Hyderabad-based steel pipe and tube maker, with products used in construction and plumbing.
~47%listing gain
04
Electronics Mart IndiaOne of India's largest electronics retail chains (Bajaj Electronics), selling TVs, phones and appliances.
~43%listing gain
05
Kaynes TechnologyAn electronics manufacturing-services firm that builds circuit boards and devices for auto, medical and industrial clients.
~32%listing gain
2021
The boom year
A record IPO frenzy — the average listing-day return was ~32%, and six IPOs more than doubled on debut.
IPO mania
01
Sigachi IndustriesMakes microcrystalline cellulose, a fine powder used to bind tablets — a behind-the-scenes supplier to pharma and food.
~253%listing gain
02
Paras Defence & SpaceDesigns defence and space gear — optics, sensors and electronics — for the armed forces and ISRO.
~185%listing gain
03
Latent View AnalyticsA data-analytics firm that helps global companies turn their data into insights, dashboards and AI models.
~148%listing gain
04
Indigo PaintsIndia's fifth-largest paint company, known for niche products like floor and ceiling paints; strong in smaller towns.
~109%listing gain
05
Tatva Chintan Pharma ChemA speciality-chemicals maker supplying ingredients for pharma, agrochemicals and EV batteries.
~95%listing gain
Listing gain ≠ guaranteed profit
A big day-one pop is exciting, but it's only the first day. Many of these stocks later slipped below their listing price — and plenty of IPOs list below their issue price and never recover.
Before you apply, look past the hype: what the company does, whether it actually makes money, how it's priced versus rivals, and whether you'd be happy to hold it even without a listing pop.
Listing-day gains are approximate, compiled from public sources (Prime Database, exchanges & financial media) as of early 2026.
Disclaimer: BellsEye is an educational and financial literacy platform. We are not SEBI registered investment advisors. This page is for educational purposes only and is not investment advice or a recommendation to apply for any IPO. Listing gains shown are approximate day-one figures, and past performance does not indicate future returns — several of these stocks later traded below their listing or issue price. Always read the IPO prospectus and consult a certified financial advisor before investing.
