Top performing IPOs of September: ESDS Software Solutions, SS Retail, Hero Motors and others gain up to 300% despite gloomy market

Indian markets started the week on a negative note, following a sharp spike in crude oil prices and Treasury yields. The NIFTY50 logged the seventh consecutive week of loss, amid renewed uncertainty in the Middle East region, sharp spike in crude oil prices and renewed selling by the foreign investors this month. The weakness was also visible in broader markets as NIFTY midcap 100 and smallcap 100 fell 6.5% and 2.5 MTD.

However, the optimism remains strong in the primary market as the 27 new issues opened in this month till date and two more to come in the remaining days. The NIFTY IPO index, a benchmark gauge for recently listed IPOs outperformed the broader markets by delivering positive returns till date. The September month witnessed heavy flow of IPOs with Mega issue of National Stocks Exchange (NSE) raising over ₹22,500 crore in the last week. The IPO was listed a flat premium of over 1%, followed by a small rally in the following days.

Meanwhile, other recently listed stocks in September month, witnessed strong followup traction in the subsequent days. Here are top five perfmorming IPOs of September 2026

ESDS Software Solutions

Shares of ESDS Software Solutions are among the top performing IPOs this month, soaring over 300% since listing till date. The company listed at ₹908 apiece, a 111% premium over its issue price of ₹429 apiece. The shares currently trade at ₹1,672 apiece on the NSE, up nearly, 289% from the issue price and over 110% from the listing price. The share made fresh peak at ₹1,859 apiece in a followup rally post listing.Low free float and concentrated bets by public investors in the HNI category led to sharp spike in the share price. The company is engaged in delivering cloud GPUs, data centre and AI inftastrucuture in India.

SS Retail

SS Retail share price stood over 69% higher from the issue price of ₹424 apiece after listing at 76% premium over its issue price. The company raised ₹500 crore through the primary issue in a combination of offer for sale and fresh issue in the last week. The IPO was 76.6x subscribed, and secured strong followup demand post listing. SS Retail a mult-brand phone retailer operating in Karnataka, Maharashtra, Goa, Madhya Pradesh and Gujarat.

Hero Motors

Shares of Hero Motors, traded nearly 60.9% above its issue price on Monday, delivering superior returns. The company is engaged in designing, manufacturing and supplying engineerred powertrain solutions for automotive original equipment manufacturers (OEMs).

The IPO was listed at ₹98, a 17% premium over its issue price of ₹84 apiece. However, shares received strong followup demand post listing, leading to strong gains in less than week’s period.

Priority Jewels

Shares of Priority Jewels,a platinum, gold and diamond jewellery maker jumped over 50% to trade near ₹307 apiece on the NSE. The shares witnessed strong followup traction after listing at 20% premium over its issu price of ₹200 apiece on the NSE. The company raised ₹91.5 crore through an entirely fresh issue offer. The IPO was 69.7x subscribed with strong demand from institutional investors as well.

Glass Wall Systems

The company currently traded 48.5% higher at ₹270 apiece, after listing at 18% premium over its issue price of ₹182 apiece. The company raised ₹427 crore from the public issue in combination of ₹60 crore offer-for-sale and ₹367 crore fresh issue. The company is a premium facade solutions and fenestration provider operating across India, the USA and Austrailia.

The IPO market remained lacklustre in the H1 of 2026, but picked up pace in the H2 of 2026. However, IPOs listed earlier in 2026 continue to deliver superior returns.

Here are top performing IPOs of 2026

Top performing IPOs of 2026

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Please consult a financial advisor before making any investment decisions. Related News