ESDS, SS Retail, Hero Motors Among Biggest IPO Gainers As September Ends, Gains Cross 300% Amid Market Volatility

ESDS Software Solution, SS Retail and Hero Motors are among the biggest IPO gainers of September 2026, with their shares trading significantly above their respective issue prices even as the broader stock market remained under pressure. ESDS Software Solution has emerged as the standout performer, with the stock trading more than 300% above its ₹429 IPO price.

SS Retail shares were trading around 72% above their ₹424 issue price, while Hero Motors was nearly 69% higher than its IPO price of ₹84. Jindal Supreme has also gained nearly 49% from its ₹93 issue price, according to the latest available market data.

The strong performance of September IPOs comes against a volatile backdrop for the broader market. At the same time, the primary market has remained active, with 27 new issues opening during September and two more IPOs scheduled to come to the market before the month ends. The ₹22,500-crore-plus NSE IPO was also among the major offerings during the month.

September IPOs: ESDS Software Solution Leads The Gains

ESDS Software Solution has been the strongest performer among the September IPOs. The stock was last available at around ₹1,760.50, compared with its IPO price of ₹429. This translates into a gain of more than 310% from the issue price.

The stock had listed at ₹908, representing a premium of more than 111% over its IPO price. It subsequently touched a high of ₹1,859 as buying interest continued after the listing.

ESDS Software Solution is involved in cloud GPU infrastructure, data centres and artificial intelligence infrastructure. Its sharp post-listing move has made it one of the most closely watched September IPO stocks.

SS Retail has also remained among the top-performing IPO stocks of September. The shares were trading at ₹728.20 against the IPO price of ₹424, giving investors a return of about 71.75%. The stock had listed at ₹639.10, a premium of more than 50% over the issue price.

The company raised ₹500 crore through its IPO, which comprised a combination of a fresh issue and an offer for sale. SS Retail operates a multi-brand retail business focused on mobile phones, accessories and other electronic products.

Hero Motors has also delivered strong post-listing gains. The stock was trading at ₹141.69 against its ₹84 IPO price, translating into a gain of about 68.68%. The shares had listed at ₹82.10, below the issue price, before recovering sharply in subsequent sessions.

Hero Motors manufactures engineered powertrain solutions for automotive original equipment manufacturers. The company raised ₹1,000 crore through its September IPO.

Jindal Supreme, Priority Jewels, Glass Wall Systems Also Gain

Jindal Supreme has also delivered a strong return since its September 23 listing. The stock was trading at ₹138.91 against its ₹93 IPO price, representing a gain of about 49.37%. It had listed at ₹121.90.

Priority Jewels and Glass Wall Systems have also remained well above their respective issue prices. Priority Jewels was issued at ₹200, while Glass Wall Systems had an IPO price of ₹182. Both stocks have delivered gains of more than 40% based on the latest September performance data.

The September IPO performance comes as activity in India's primary market remains elevated. The month saw the ₹22,568.94-crore NSE IPO, along with offerings from Hero Motors, SS Retail, Jindal Supreme and several other companies.

The broader IPO pipeline also remains sizeable. According to the Association of Investment Bankers of India (AIBI), India's potential mainboard IPO pipeline stood at around ₹3.86 lakh crore as of September 2026, about 3.5 times the ₹1.10 lakh crore raised through 84 mainboard IPOs so far this year. Of the pipeline, IPOs worth about ₹2.43 lakh crore had received SEBI approval, while another ₹1.44 lakh crore was awaiting clearance.

The data highlights continued activity in India's primary market even as listed equities have faced pressure, with several September IPO stocks delivering substantial gains after their market debut.

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