IPO buzz returns: NIFTY IPO index gains 5% in August; Dhoot Transmission, Milky Mist, Xtranet Technologies among top gainers

The IPO market is buzzing with strong activity after a lacklustre performance in H1 of 2026. The overall fundraising activity picked up in July and picked up the pace in August, with nearly 18 listings in the previous month alone. H1 of 2026 went dry in terms of activity, with only 28 IPOs in the first six months as compared to more than 40 in July and August. The activity not just picked up in terms of volume, but also in the amount raised.

H1 of 2026 saw more than ~₹20,000 crore worth of fundraising through mainboard IPOs. Whereas July and August together saw more than ₹45,000 crore raised through mainboard IPOs, signalling strong buoyancy around the IPOs.

The overall activity and buoyancy also translated into strong gains in the previously listed IPOs. The NIFTY IPO index, which tracks the IPOs after their listing for two years. The index also saw handsome gains in August, delivering more than 5% returns in a single month. The index has rallied more than 34% in FY27 to date, amid high optimism around recently listed stocks.

Out of the 127 stocks from the index, 56 stocks are currently trading in the red, delivering negative returns since listing, and 71 stocks are in the green. The index includes stocks that have completed 30 days of listing and tracks till it completes 2 years.

Dhoot Transmission

The auto ancillary player got listed on August 17, delivering more than 36% gains on the listing day itself and soaring further to deliver more than 66% gains in August alone. The company came with an issue price of ₹871 apiece and closed the listing day at ₹1,187 apiece on the NSE. The company currently trades near ₹1,451 apiece, delivering 67% returns for its investors in a period of less than 20 days.

Xtranet Technologies

Xtranet Technologies is an IT solutions provider offering end-to-end enterprise applications that raised ₹167 crore in July 2026. The company, with an issue price of ₹127 apiece, and delivered a tepid listing day gains of 1.2%. However, the shares received strong optimism post-listing as the company currently trades at ₹187 apiece on the NSE, delivering nearly 50% returns in a short period of time. The shares made fresh record highs of ₹206 apiece in August, soaring over 54% in the month alone.

Sudeep Pharma

The small-cap pharma player, which got listed in November 2025, delivered more than 40% in August, after the company delivered robust Q1FY27 results. The company currently trades at ₹1,240 apiece, delivering more than 100% returns on its issue price of ₹593 apiece. The company raised ₹895 crore through a mix of fresh issue (₹95 crore) and offer for sale (₹800 crore)

Milky Mist Dairy Food

The latest entrant in the dairy and food products space has extended its bull run since listing on August 18, 2026. The company’s shares soared over 40% in the last month and currently trade at ₹210 apiece, 50% higher than its issue price of ₹140 apiece. The company raised ₹1,553 crore through a mix of a fresh issue of ₹1,428 crore and an offer for sale of ₹125 crore. The buoyancy around the stock continued after the company’s net profit for Q1FY27 increased multifold from ₹6 crore in Q1FY26 to ₹64 crore in Q1FY27.

MV Electrosystems

The company is engaged in the design, development, and manufacturing of electrical power and power equipment used in railway rolling stocks. The recently listed company has delivered 44% returns in the previous month, soon after its listing on August 6. The company’s shares have delivered total returns of more than 67% at the current price of ₹ 713 apiece on the NSE against its issue price of ₹425 apiece. The company raised ₹290 crore through an entirely fresh issue.