2025 has been a big year for India’s stock markets, with several new companies listing and rewarding investors with strong gains after their IPOs.
Here is a look at 10 (plus a bonus) of the most successful mainboard IPOs, ranked by how much they have risen to date from their issue price.
Best mainboard IPOs of 2025 (so far)
1. Stallion India Fluorochemicals
Profit vs issue: 146.28 per cent
Stallion India Fluorochemicals tops the table with the highest percentage gain. Its strong debut and sustained buying interest make it the clear star among 2025 mainboard IPOs in this snapshot.
2. Aditya Infotech Ltd
Profit vs issue: 122.71 per cent
Aditya Infotech has delivered well over a 120 per cent return from its issue price, riding on investor appetite for technology and digital‑focused businesses. Such performance places it firmly in multibagger territory for early investors in 2025.
3. Ather Energy Ltd
Profit vs issue: 121.14 per cent
Electric two‑wheeler company Ather Energy has comfortably more than doubled from its IPO price, reflecting continued enthusiasm for credible EV plays. Despite sector volatility, Ather’s brand and growth prospects seem to have impressed the market.
4. Belrise Industries Ltd
Profit vs issue: 99.33 per cent
Belrise Industries has posted the strongest double‑digit returns, well above the issue price, benefiting from optimism about auto and mobility demand in India. Its performance underlines how select auto‑linked names have ridden the post‑pandemic recovery.
5. Meesho Ltd
Profit vs issue: 78.29 per cent
Social commerce platform Meesho features among the top gainers, with its stock sharply higher than the IPO price. The listing reflects continued market confidence in scalable internet consumer platforms.
6. Jain Resource Recycling Ltd
Profit vs issue: 77.67 per cent
Jain Resource Recycling has delivered very strong percentage gains, supported by the broader sustainability and circular‑economy narrative. Investors appear to be rewarding companies aligned with recycling and resource‑efficiency trends.
7. Quality Power Electrical Equipments Ltd
Profit vs issue: 74.72 per cent
This electrical equipment player has given healthy post‑IPO returns, buoyed by infrastructure and power‑sector spending. The performance echoes the broader market interest in industrial and capex‑linked stories.
8. Prostarm Info Systems Ltd
Profit vs issue: 69.05 per cent
Prostarm Info Systems has notched up robust gains, showing how mid‑sized IT and services firms can create notable wealth for IPO investors. Its move highlights the depth of demand for quality mid‑cap names beyond headline brands.
9. Billionbrains Garage Ventures Ltd
Profit vs issue: 65.40 per cent
Billionbrains Garage Ventures has delivered strong double‑digit returns from its issue price, tapping into investor interest in innovation‑focused businesses.
10. Anlon Healthcare Ltd
Profit vs issue: 59.34 per cent
Anlon Healthcare has also emerged as a top performer, with its stock significantly above the IPO price. The company benefits from the structural growth story in healthcare and pharma‑related services.
11. Midwest Ltd
Profit vs issue: 58.26 per cent
Midwest rounds out the top‑profit list, posting attractive returns despite being less talked about than the bigger IPO brands. This is an addition to the list, because it narrowly lost the top 10 spot.
Worst IPO performers of 2025
For investors, these winners (in the above list) gave them healthy gains. But all was not hunk dory in the land of issues.
In fact, mainboard IPOs such as Glottis Ltd (down 52.78 per cent), Gem Aromatics Ltd (down 48.34 per cent), VMS TMT Ltd (down 46.25 per cent), Jaro Institute of Technology Management & Research Ltd (down 43.54 per cent), and BMW Ventures Ltd (down 40.96 per cent) were among the top in a long list of many that cost investors dearly.
Moreover, market experts and regulators alike caution that listing gains are never guaranteed, and past returns alone should not be the only basis for fresh investments.
