India’s IPO market has seen several blockbuster debuts, delivering extraordinary listing gains for investors. Some IPOs made people rich right away, while others raised the bar for how excited the market was. Let’s look at the best IPOs that had the biggest price increases and find out why they were so successful.
1. Paras Defence and Space Technologies
- Listing Gain: 185%
- Issue Price: ₹175
- Listing Price: ₹475
Paras Defence specializes in defence and space engineering products. With strong government focus on defence indigenization and limited competition, the IPO attracted massive retail and institutional demand.
Reason for success:
- Niche business segment
- Strong order book
- ‘Make in India’ defence push
2. Sigachi Industries
- Listing Gain: 252%
- Issue Price: ₹163
- Listing Price: ₹575
Sigachi manufactures cellulose-based products used in pharmaceuticals and food industries. The company’s global market presence and consistent profitability impressed investors.
Reason for success:
- Strong export market
- Consistent revenue growth
- Small IPO size creating supply scarcity
3. Happiest Minds Technologies
- Listing Gain: 123%
- Issue Price: ₹166
- Listing Price: ₹371
An IT services company focusing on digital transformation, cloud, AI, and cybersecurity. Happiest Minds benefited from strong demand for tech services post-pandemic.
Reason for success:
- High digital service demand
- Experienced leadership
- Strong client base
Top 10 IPOs with Highest Listing Gains
| Rank | Company | Listing Gain (%) | Issue Price | Listing Price |
|---|---|---|---|---|
| 1 | Sigachi Industries | 252% | ₹163 | ₹575 |
| 2 | Paras Defence and Space Tech | 185% | ₹175 | ₹475 |
| 3 | Happiest Minds Technologies | 123% | ₹166 | ₹371 |
| 4 | Route Mobile | 105% | ₹350 | ₹717 |
| 5 | IRCTC (2019) | 101% | ₹320 | ₹644 |
| 6 | Astral Limited (Earlier IPO) | 94% | ₹120 | ₹233 |
| 7 | Burger King India | 92% | ₹60 | ₹115 |
| 8 | Nazara Technologies | 79% | ₹1101 | ₹1971 |
| 9 | Indigo Paints | 75% | ₹1490 | ₹2607 |
| 10 | Zomato | 66% | ₹76 | ₹125 |
What Made These IPOs Work
- Strong business model: Investors were very interested in companies with models that could grow and adapt to the future.
- Limited supply: More individuals wanted to buy shares when there were fewer IPOs, which led to larger returns on listings.
- Trends in the industry: Some of the areas with the most room for growth were defense, IT, e-commerce, and specialty chemicals.
What Investors Need to Know
It’s fantastic to see a lot of new listings, but investors should remember that short-term rises don’t always happen. Before you invest in an IPO, you should perform some research on the sector and the company’s essentials.
