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These four IPOs of 2025 gained over 30% after listing at a discount; check details
3 min read | Updated on August 14, 2025, 10:13 IST
SUMMARY
The IPO market has been strong in 2025. Despite 67 IPOs trading with gains, the NIFTY IPO index is down 6.9% YTD. Five IPOs have seen gains of over 100%. Quality Power, Tejas Cargo, Grad Continent Hotels and Ather Energy IPOs witnessed strong investor interest despite weak listing.
Stock list
IPO market is back in action after sluggish H2 of 2024 and 2025 witnessed strong listings in the first half.
The IPO market is buzzing with new issues every week. 2025 so far has been a strong year for IPOs, with over 220 main board issues, out of which 67 IPOs currently trade with gains from their issue price. Approximately ₹51,150 crore has been raised from the primary issues in the first half of 2025, which was higher than the first half of 2024. Despite the upbeat trend in the public issues, the NIFTY IPO index is down nearly 6.9% on a YTD basis. However, the majority of the IPOs are trading with huge gains despite the muted broader market performance.
| Returns | No. of IPOs |
|---|---|
| 100% to 200% | 5 |
| 50% to 100% | 12 |
| 10% to 50% | 49 |
Out of the above 67 IPOs that are trading with gains, 5 IPOs traded with gains of above 100%.
Quality Power Electrical Equipment Ltd
The power and electrical equipment manufacturer was listed at ₹387 apiece on the NSE at a discount of 8.7% vs the issue price of ₹425. However, the shares since then have gained nearly 84% and currently trade at ₹784 apiece on the NSE. The strong gains post-listing can be primarily attributed to robust fundamental growth in recent quarters. The company’s Q1FY26 revenue jumped 187% YoY to ₹176 crore as compared to ₹61 crore in the same period last year. The EBITDA for the quarter also jumped 31% YoY to ₹31 crore as against ₹23.5 crore. Lastly, the net profit for the quarter jumped 11% YoY to ₹37 crore, primarily due to ₹17 crore of other income.
Tejas Cargo India Ltd
The logistics and transportation supply chain solutions company was listed on 24 February 2025, at a flat price of ₹168 apiece against the issue price of ₹168 on the NSE SME bourse. However, the shares since then has gained 66% since listing and currently trade at ₹279 apiece on the NSE. As of FY25, the company’s total revenue jumped to ₹508 crore from ₹422 crore in FY24. Similarly, the net profit for the FY25 jumped from ₹13.3 crore to ₹19.1 crore.
Grand Continent Hotels
The Hotel chain operator got listed on the NSE SME exchange at a discount of 5% on 27 March 2025, post then shares have rallied 58.8% till date. The shares got listed at ₹107.3 apiece against the issue price of ₹113 apiece. The company’s revenue in FY25 jumped to ₹72 crore as against ₹31.2 crore, and EBITDA of ₹19 crore and net profit of ₹10.6 crore. The company now operates with 20 properties in mid-high scale.
Ather Energy Ltd
One of India’s leading e-two-wheeler manufacturers' shares witnessed a lacklustre listing with a 5.8% discount. However, shares have witnessed strong buying interest post listing and currently trade 30% higher at ₹418 apiece than the issue price of ₹321 apiece. In the latest quarterly earnings, the company’s revenue jumped 78% YoY to ₹644 crore as against ₹360 crore in the previous year’s similar quarter. The company’s EBITDA loss for the quarter narrowed to ₹134 crore in the Q1FY26 as compared to ₹172 crore in the sequential quarter. Lastly, the net loss for the quarter narrowed slightly from ₹182 crore to ₹178 crore.
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