Over the years, the IPO market in India has undergone significant evolution, with many IPOs yielding the highest listing gains in the last five years. As years pass by, the IPO craze continues to grow due to increased retail participation and easy access to online brokerage platforms. For investors, IPO investment has been seen as one of the greatest opportunities to generate quick profit and take part in the companyās growth.
If you are new to the IPO game and interested in knowing which IPOs have given us the highest listing returns over the years, then you are at the right place. Sectors like Infrastructure, chemicals, defence & Aerospace, manufacturing, E-commerce, and technology & digital services have shown strong listing performance over the years.
Several SME IPO and Mainboard IPO have delivered the highest listing gains in India over the last 5 years. Here is the list of them:
Mainboard IPOs with the Highest listing gains over 5 years
| Company | Listing gains | Listing date |
| IRCTC | 127% | Oct 14, 2019 |
| G R Infraprojects Ltd. | 109% | July 19, 2021 |
| Nykaa | 96% | Nov 10, 2021 |
| Latent View Analytics Ltd. | 148% | Nov 23, 2021 |
| Sigachi Industries Ltd. | 267% | Nov 14, 2021 |
| Paras Defence & Space Technologies Ltd. | 181% | Oct 1, 2021 |
| Tata Technologies Ltd. | 140ā163% | Nov 30, 2023 |
| BLS EāServices Ltd. | 125ā175% | Feb 6, 2024 |
| Vibhor Steel Tubes Ltd. | 181% | Feb 20, 2024 |
| Unicommerce eSolutions Ltd. | 112ā118% | August 13, 2024 |
| Bajaj Housing Finance Ltd. | 114.29ā150.71% | Sept 16, 2024 |
| Mamata Machinery Ltd. | 147% | December 27, 2024 |
| Premier Energies Ltd. | 120% | September 3, 2024 |
| Highway Infrastructure | 64ā67% | August 12, 2025 |
| Aditya Infotech | 50ā51% | August 5, 2025 |
| Urban Company | 57% | September 17, 2025 |
| Meesho | 95% | December 10, 2025 |
| LG Electronics | 50% | October 14, 2025 |
SME IPOs with the highest listing gains over 5 years
| Company | Listing gain | Listing Date |
| Vivo Collaboration Solutions Ltd. | 311% | Dec 31, 2021 |
| Phantom Digital Effects Ltd. | 229% | Oct 21, 2022 |
| Goyal Salt Ltd. | 242% | Oct 11, 2023 |
| Sungarner Energies Ltd. | 216% | August 31, 2023 |
| Divine Power Energy Ltd. | 288% | July 2, 2024 |
| GP Eco Solutions India Ltd. | 299% | June 24, 2024 |
| Maxposure Ltd. | 339% | January 23, 2024 |
| Kay Cee Energy & Infra Ltd. | 367% | January 5, 2024 |
| Winsol Engineers Ltd. | 387% | May 14, 2024 |
| Refractory Shapes Ltd. | 351% | May 14, 2024 |
| Medicamen Organics Ltd. | 275% | June 28, 2024 |
| HOAC Foods India Ltd. | 225% | May 24, 2024 |
| Fabtech Technologies Cleanrooms Ltd. | 360% | January 10, 2025 |
| Tankup Engineers Ltd. | 416% | April 30, 2025 |
| TechD Cybersecurity | 234% | September 22, 2025 |
| Sacheerome | 272% | June 16, 2025 |
Conclusion
The Indian IPO market has delivered significant listing gains for over 5 years. Both the mainboard IPO and the SME IPO have offered the highest listing gains, indicating strong market presence and long-term growth. For more details and updates regarding the IPO investment, please follow the IPOWatch for the latest news, IPO GMP, and listing details.
