The year 2025 so far has been a dynamic year for India’s IPO (Initial Public Offering) market, with investors witnessing a mix of stellar debuts and lacklustre listings.
The primary market continues to attract attention as companies across various sectors leverage public offerings to fund their growth aspirations. So, let us look at how the recently closed IPOs have performed.
Here is a detailed blog that delves into the performance of some of the recently listed IPOs in 2025, focusing on the best and worst performers of the year.
IPO Market Overview In 2025
The Indian equity market has experienced a surge in IPO activity. The anticipation of companies planning to go public is everywhere. The IPO filing news is full with over several companies filing draft offer letters with the regulator, the Securities and Exchange Board of India (SEBI). Experts estimate that primary market fundraising in 2025 might exceed Rs. 2 lakh Cr. The year started strong with notable IPOs, including Stallion India Fluorochemicals Ltd., Capital Numbers Infotech, and Kabra Jewels. A robust investor appetite, coupled with favourable market conditions, has fueled this growth.
Best Performers Of the Year 2025 So Far
We can briefly analyse the recently listed and upcoming IPOs of the year 2025.
Stallion India Fluorochemicals IPO
One of the standout performers of 2025 has been the Stallion India Fluorochemicals IPO. Opening for subscription on January 16 and closing on January 20, the IPO garnered significant investor interest. With a total issue size of Rs. 199.45 crore, the IPO included a fresh issue of Rs. 160.73 crore and an offer for sale of Rs. 38.72 crore. Priced in the range of Rs. 85-90 per share, Stallion India’s shares were oversubscribed 2.11 times overall.
The IPO’s grey market premium (GMP) of +Rs. 48 suggested a strong debut. When the shares were listed on January 23, they opened at Rs. 138 per share, reflecting a 53.33% premium to the issue price. The proceeds from the IPO are being utilised for capital expenditure in Maharashtra and Andhra Pradesh, as well as for working capital needs. Stallion India’s success underscores the robust demand for companies in the fluorochemicals sector, which serves diverse industries such as semiconductors, healthcare, and automotive.
Laxmi Dental IPO
Laxmi Dental’s IPO emerged as another stellar performer, attracting an extraordinary level of investor interest. The offering was oversubscribed by a staggering 112 times, demonstrating the immense confidence investors have in the company’s prospects and the overall healthcare sector.
This remarkable oversubscription can be attributed to several factors. Laxmi Dental boasts robust fundamentals, including a strong financial track record, a proven business model, and a promising growth trajectory. Furthermore, the healthcare sector continues to be viewed as a resilient and lucrative investment opportunity, further amplifying investor enthusiasm.
Upon listing, Laxmi Dental’s shares commenced trading at a premium to their IPO price, generating immediate gains for both retail and institutional investors. This successful debut not only underscores the company’s inherent strengths but also reinforces the positive sentiment prevailing in the healthcare industry. Laxmi Dental’s IPO serves as a testament to the rewarding opportunities available to investors who identify and capitalise on companies with solid fundamentals operating in thriving sectors.
Capital Numbers Infotech IPO
Capital Numbers Infotech’s IPO, an SME offering, opened on January 22 with a total issue size of Rs. 169 crore. The company’s strong financials and reputation in IT services made it an investor favourite. Its shares debuted with significant gains, reaffirming the market’s interest in the technology sector.
Kabra Jewels: Shining Through The IPO Launch
Kabra Jewels, a small and medium enterprise (SME) venturing into the public market, has generated significant excitement among investors with its initial public offering (IPO). The IPO, which opened for subscription on January 15, 2025, was met with overwhelming demand, achieving full subscription on its very first day.
Priced competitively between ₹121 and ₹128 per share, the IPO aimed to raise ₹40 crores through the issuance of new shares. This capital infusion is expected to fuel Kabra Jewels’ growth trajectory and further solidify its position in the gems and jewellery industry.
The enthusiastic response from investors underscores the burgeoning appeal of SMEs in the IPO landscape. Kabra Jewels, with its established brand equity and strong resonance with retail investors, exemplifies the potential of SMEs to attract significant capital through public offerings. This successful listing not only marks a significant milestone for Kabra Jewels but also highlights the growing relevance and attractiveness of SME IPOs in the broader investment ecosystem.
Factors Contributing To IPO Performance
While you look forward to open demat account online and starting IPO investing, it can be worth considering IPO performance fundamentals. Several factors influence the success or failure of an IPO. These are as follows:
Sector Performance
Sectors like healthcare, technology, and chemicals performed well in 2025, attracting strong investor interest.
Valuation
Companies with reasonable valuations and strong fundamentals fared better than overvalued IPOs.
Market Sentiment
Positive macroeconomic indicators and a bullish stock market boosted IPO performance.
Company Fundamentals
Investors favoured companies with robust financials, growth potential, and clear utilisation of funds.
Upcoming IPOs To Watch
The IPO pipeline for 2025 is likely to remain robust, with companies like Standard Price Lining and Indo Farm Equipment planning their listings. Investors need to closely monitor the grey market premium and company fundamentals to make informed decisions.
Conclusion
The performance of recently listed IPOs in the year 2025 highlights the importance of thorough research and strategic investment. While some IPOs delivered exceptional returns, others underscored the risks involved in IPO investing. As the IPO market continues to grow, investors should remain vigilant, focusing on company fundamentals, sector trends, and market conditions. Opening a Demat Account and leveraging tools like an IPO app can help streamline the investment process and capitalise on emerging opportunities. By staying informed and adopting a disciplined approach, you can make the most of India’s dynamic IPO market.