Samvat 2082 IPO Returns: Which Newly Listed Stocks Made Money for Investors and Which Fell Below Issue Price?

India's IPO market raised a record ₹2.12 lakh crore during Samvat 2082, but not all newly listed companies made money for investors. Of the 131 mainboard IPOs launched during the year, 43 were trading below their issue prices as of November 6, while 87 were above their offer prices. Groww, Meesho and Lenskart were among the prominent gainers, while Pine Labs, SBI Funds Management and several smaller IPOs ended the period with losses.

Groww's parent company, Billionbrains Garage Ventures, gained 115.1% from its IPO price, while Meesho rose 110.3% and Lenskart Solutions climbed 80.3%. Some smaller companies delivered even higher returns, with Omnitech Engineering gaining 166.2% and KSH International rising 161.7%. On the losing side, Shree Ram Twistex fell 64.8% from its offer price, Aastha Spintex declined 63.4%, Pine Labs lost 26.5% and SBI Funds Management was down 13%.

The figures, based on Prime Database data, come ahead of the special Muhurat Trading session on November 8, which marks the beginning of Samvat 2083. The median return for mainboard IPOs stood at 16.8% as of November 6, compared with a median listing-day gain of 6.8%. Although the amount raised through IPOs increased nearly 20% from the previous Samvat year, the performance of individual stocks varied considerably.

Groww, Meesho Lead IPO Gains

Omnitech Engineering recorded the highest return among mainboard IPOs during Samvat 2082, with its shares rising 166.2% from the issue price as of November 6. KSH International followed with a gain of 161.7%. Both companies outperformed several of the larger public issues that attracted attention during the year.

Among the bigger listings, Groww was one of the strongest performers. Shares of Billionbrains Garage Ventures gained 115.1% from the IPO price, meaning an investment of ₹10,000 at the offer price would have been worth about ₹21,510 at the November 6 adjusted market price, excluding charges and taxes. Meesho also more than doubled investors' money, with its shares rising 110.3% from the offer price, while Lenskart Solutions delivered a return of 80.3%.

Other large IPOs recorded more moderate gains. ICICI Prudential Asset Management Company traded 35.6% above its issue price, while Jio Platforms was up 25.7%. The returns are calculated using the companies' IPO offer prices and their adjusted market prices on November 6, rather than the prices at which the shares opened on their listing days.

43 IPOs Trade Below Issue Price

The gains in several newly listed stocks were accompanied by steep losses in others. Shree Ram Twistex was among the weakest performers, with its shares trading 64.8% below the IPO price as of November 6. Aastha Spintex was down 63.4%, leaving investors who bought these shares at their offer prices with losses of more than half their investment.

Pine Labs was another company whose shares failed to hold above the issue price. The stock traded 26.5% below its offer price, while SBI Funds Management, which raised ₹9,795 crore through its public issue, was down 13%. The losses were not limited to smaller IPOs, as some of the larger issues also ended Samvat 2082 below the prices paid by investors during their public offers.

The difference between listing-day performance and returns at the end of the year was also evident in the data. Of the 131 mainboard IPOs, 89 closed above their offer prices on listing day, with a median listing-day gain of 6.8%. By November 6, 87 were trading above their issue prices and 43 below, while the median return stood at 16.8%. Among the 42 companies that raised at least ₹1,000 crore each, 34 were trading above their issue prices.

Record IPO Fundraising, Mixed Returns

Mainboard IPO fundraising reached ₹2,12,432 crore during Samvat 2082, compared with ₹1,77,626 crore in the previous Samvat year, an increase of 19.6%. The number of public issues also rose from 104 to 131. Of the total funds raised, ₹1,00,320 crore came through fresh share sales, while ₹1,12,112 crore was raised through offers for sale, where existing shareholders sold part of their holdings.

Jio Platforms accounted for the largest public issue of the year, raising ₹30,188 crore. It was followed by the National Stock Exchange of India, which raised ₹22,563 crore, and ICICI Prudential Asset Management Company at ₹10,603 crore. Together, the three companies raised ₹63,353 crore, accounting for nearly 30% of the total amount collected through mainboard IPOs during the year.

The small and medium enterprise segment also saw strong fundraising activity, with 244 SME IPOs raising ₹10,826 crore during Samvat 2082. However, the returns were weaker than those of mainboard issues. Only 114 SME IPOs were trading above their offer prices as of November 6, while the median return stood at a loss of 3.9%, compared with a positive 16.8% median return for mainboard IPOs.

Samvat 2082 therefore ended with a record amount raised through public issues, even as returns across newly listed stocks remained uneven. Some companies more than doubled from their offer prices, while others lost over 60% of their value, leaving a wide gap between the year's strongest and weakest IPO performers.

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