Some IPOs were even trading below the issue price, making it into the list of the worst IPO list 2025 in India, disappointing investors and indicating cautious market sentiment. The year 2025 was defined by mixed IPO performance, with many IPOs listed at a premium, while some were unable to hold the gains.
Investors can check the Worst IPOs 2025, including issue price, listing price, and current trading price, on our IPO Watch platform in India.
Top 10 Worst Performing Mainboard IPO 2025
| Company Name | Open Date | Close Date | IPO Size | Price Band | Last GMP | Listing Price | Listing Gain |
|---|---|---|---|---|---|---|---|
| Om Freight Forwarders | Sep 29, 2025 | Oct 3, 2025 | ā¹122.31 | ā¹128 to ā¹135 | ā¹-3 | ā¹81.5 | -39.63% |
| Glottis | Sep 29, 2025 | Oct 1, 2025 | ā¹307 | ā¹120 to ā¹129 | ā¹0 | ā¹84 | -34.88% |
| BMW Ventures | Sep 24, 2025 | Sep 26, 2025 | ā¹231.66 | ā¹94 to ā¹99 | ā¹0 | ā¹78 | -21.21% |
| Laxmi India | Jul 29, 2025 | Jul 31, 2025 | ā¹254.26 | ā¹150 to ā¹158 | ā¹0 | ā¹137.52 | -12.96% |
| Brigade Hotel Ventures | Jul 24, 2025 | Jul 28, 2025 | ā¹759.60 | ā¹86 to ā¹90 | ā¹0 | ā¹81.1 | -9.89% |
| Epack Prefab | Sep 24, 2025 | Sep 26, 2025 | ā¹504 | ā¹194 to ā¹204 | ā¹0 | ā¹183.85 | -9.88% |
| Indiqube Spaces | Jul 23, 2025 | Jul 25, 2025 | ā¹700 | ā¹225 to ā¹237 | ā¹0 | ā¹216 | -8.86% |
| Ajax Engineering | Feb 10, 2025 | Feb 12, 2025 | ā¹1,268.93 | ā¹599 to ā¹629 | ā¹-3 | ā¹576 | -8.43% |
| Ganesh Consumer | Sep 22, 2025 | Sep 24, 2025 | ā¹408.8 | ā¹306 to ā¹322 | ā¹-9 | ā¹296.05 | -8.06% |
| Arisinfra Solutions | Jun 18, 2025 | Jun 20, 2025 | ā¹499.6 | ā¹210 to ā¹222 | ā¹0 | ā¹205 | -7.66% |
Top 10 Worst Performing SME IPO 2025
| Company Name | Open Date | Close Date | IPO Size (In Cr.) | Price Band | GMP | Listing Price | Listing Gain |
|---|---|---|---|---|---|---|---|
| Arunaya Organics | Apr 29, 2025 | May 2, 2025 | ā¹33.99 | ā¹55 to ā¹58 | ā¹0 | ā¹30.1 | -48.10% |
| SSMD Agrotech | Nov 25, 2025 | Nov 27, 2025 | ā¹34.09 | ā¹114 to ā¹121 | ā¹0 | ā¹73 | -39.67% |
| Jainik Power and Cables | Jun 10, 2025 | Jun 12, 2025 | ā¹51.3 | ā¹100 to ā¹110 | ā¹0 | ā¹82 | -25.45% |
| Pushpa Jewellers | Jun 30, 2025 | Jul 2, 2025 | ā¹98.65 | 143 to ā¹147 | ā¹0 | ā¹112 | -23.81% |
| Accretion Pharmaceuticals | May 14, 2025 | May 16, 2025 | ā¹29.75 | ā¹96 to ā¹101 | ā¹0 | ā¹79 | -21.78% |
| Admach Systems | Dec 23, 2025 | Dec 26, 2025 | ā¹42.6 | ā¹227 to ā¹239 | ā¹11 | ā¹191.2 | -20.00% |
| Sundrex Oil | Dec 22, 2025 | Dec 24, 2025 | ā¹32.24 | ā¹81 to ā¹86 | ā¹0 | ā¹68.8 | -20.00% |
| Dachepalli Publishers | Dec 22, 2025 | Dec 24, 2025 | ā¹40.39 | ā¹100 to ā¹102 | ā¹0 | ā¹81.6 | -20.00% |
| MARC Technocrats | Dec 17, 2025 | Dec 19, 2025 | ā¹42.59 | ā¹88 to ā¹93 | ā¹-2 | ā¹74.4 | -20.00% |
| Neptune Logitek | Dec 15, 2025 | Dec 17, 2025 | ā¹46.62 | ā¹126 | ā¹0 | ā¹100.8 | -20.00% |
FAQs
1. What is the listing loss?
If the IPO is listed below the decided price band, it is called a listing loss.
2. What are the listing gains?
If the IPO is listed above the price band, it is called a listing gain.
3. What are BSE & NSE?
BSE & NSE are two major stock exchanges in the india, where the mainboard and SME IPO list and shares for trading.
4. Why are the mainboard & SME IPO sometimes listed with a discount?
There could be various reasons for the mainboard and sme IPO to be listed with a discount.
- Weak demand in the grey market
- Market uncertainty or volatility
- Undersubscription during the IPO
