How many IPOs were there in India in 2025?

388 companies listed in India in 2025 (SPACs left out), raising $21.8B in total. The median first-day move was +4.6%, and 46% of those with a price trade above their offer price as of 7 Nov 2026.

Which India IPOs are coming up?

As of 7 Nov 2026: Vedant Poly Fabs Limited (listing: 9 Nov 2026); Antala Industries (listing: 11 Nov 2026).

What is the grey-market premium (GMP) on upcoming India IPOs?

GMP is the unofficial premium at which shares are quoted before they list; it is indicative, not an official price. As of 7 Nov 2026: Vedant Poly Fabs Limited +1.1% (source: InvestorGain).

India IPOs: calendar, recent listings and history

Upcoming India IPOs, the latest listings and how they have traded since, and every India IPO since 2021 year by year.

Data as of 7 Nov 2026.

Live India deals in the IPO monitor India IPOs by year India stock market

As of 7 Nov 2026, the IPO monitor lists 25 India deals (SPACs left out). By stage: 2 allotted and 23 recently listed.
Next scheduled step: Vedant Poly Fabs Limited, listing: 9 Nov 2026; 2 deals have books open or a dated step in the 30 days from 7 Nov 2026.
23 India companies listed in the 90 days to 7 Nov 2026 (23 in the last 30); 80% of the 15 with a TradingView price trade above their offer price, and the median return since offer is +14.3%.
In 2025, 388 India companies listed, raising $21.8B; the median first-day move (first close against the offer price) was +4.6% across the 384 with a recorded first close.
2026 to 7 Nov 2026: 329 listings, against 315 by the same date in 2025.
The grey-market premium (GMP: the unofficial premium at which shares are quoted before they list) is quoted for 1 deal not yet listed; the highest is Vedant Poly Fabs Limited at +1.1% (InvestorGain, 6 Nov 2026).

Upcoming India IPOs: the next 30 days (2)

Company	Exchange · ticker	Status	Next step	Price band / issue price	Deal size	GMP	Demand
Vedant Poly Fabs Limited	NSE · VPFL (SME)	Allotted	listing: 9 Nov 2026	₹94	$6.04M	₹1 (+1.1%)	subscribed 1.85×
Antala Industries	BSE (SME)	Allotted	listing: 11 Nov 2026	₹66	$2.45M	n/a	subscribed 12.79×

Recent India listings: the last 90 days (23)

Company	Exchange · ticker	Listed	Issue price	Deal size	First-day move	Since offer	Last close
Maxwell Engineering Solutions Limited	NSE · MAXENGS (SME)	6 Nov 2026	₹158	$6.14M	+99.5%	+99.5%	₹315.20 (6 Nov 2026)
Johnsoncab Electricals	BSE (SME)	6 Nov 2026	₹200	$5.97M	n/a	n/a	n/a
Vectras Enprocon	BSE (SME)	6 Nov 2026	₹105	$5.65M	n/a	n/a	n/a
HGS (India) Limited	NSE · HGSINDIALT (SME)	6 Nov 2026	₹120	$3.68M	+40.0%	+40.0%	₹168 (6 Nov 2026)
Bombay Coated and Special Steels Limited	NSE · BCSSL	5 Nov 2026	₹82	$19.5M	+15.6%	+9.8%	₹90.07 (6 Nov 2026)
M. K. Sons Fine Jewels Limited	NSE · MKSONS	4 Nov 2026	₹162	$29.3M	n/a	n/a	n/a
Ajwa Projects	BSE (SME)	4 Nov 2026	₹203	$4.05M	n/a	n/a	n/a
Carver Roboweld	BSE (SME)	4 Nov 2026	₹80	$3.01M	n/a	n/a	n/a
SFC Environmental Technologies Limited	NSE · SFCTECH	3 Nov 2026	₹330	$71.1M	+29.1%	+25.2%	₹413.15 (6 Nov 2026)
BLS Polymers Limited	NSE · BLSPOLY	3 Nov 2026	₹150	$27.2M	+79.2%	+57.2%	₹235.79 (6 Nov 2026)
Wiscon Industries	BSE (SME)	3 Nov 2026	₹204	$11.7M	n/a	n/a	n/a
EAAA India Alternatives Limited	NSE · EDELALTS	2 Nov 2026	₹1,665	$128M	+3.8%	+1.0%	₹1,682 (6 Nov 2026)
Core4 Engineers	BSE (SME)	30 Oct 2026	₹93	$5.84M	n/a	n/a	n/a
Jio Platforms Limited	NSE · JPL	28 Oct 2026	₹1,119	$3.22B	n/a	+25.7%	₹1,406 (6 Nov 2026)
Paras Healthcare Limited	NSE · PARASHLTH	28 Oct 2026	₹693	$154M	n/a	+6.0%	₹734.55 (6 Nov 2026)
Zetwerk Manufacturing Businesses Limited	NSE · ZETWERK	23 Oct 2026	₹151	$534M	-8.4%	+9.2%	₹164.89 (6 Nov 2026)
Bonfiglioli Transmissions Limited	NSE · BONFIG	23 Oct 2026	₹586	$270M	-2.0%	+14.3%	₹670.05 (6 Nov 2026)
Tonbo Imaging India Limited	NSE · TONBO	23 Oct 2026	₹700	$90.8M	+62.0%	+110.3%	₹1,472 (6 Nov 2026)
Sahajanand Medical Technologies Limited	NSE · SMT	23 Oct 2026	₹344	$50.6M	+9.8%	+52.9%	₹525.95 (6 Nov 2026)
Shellz India	BSE (SME)	23 Oct 2026	₹179	$6.39M	n/a	n/a	n/a
Fusion CX Limited	NSE · FUSIONCX	22 Oct 2026	₹289	$74.8M	+0.2%	-6.3%	₹270.70 (6 Nov 2026)
Ravita Engineering Services Limited	NSE · RAVITA (SME)	22 Oct 2026	₹112	$12.4M	+1.5%	-8.0%	₹103.05 (6 Nov 2026)
HD Fire Protect Limited	NSE · HDFIRE	21 Oct 2026	₹271	$75.8M	+13.2%	-3.7%	₹261 (6 Nov 2026)

India IPOs by year since 2021

Medians, not means: half the listings did better than each figure, half worse. First-day move = first close against the offer price; since offer = latest TradingView close against the offer price; 'above offer now' = share of listings with a price that trade above it. SPACs are left out.
Year	IPOs	On SME/GEM boards	Raised (USD)	Median deal	Median first-day move	Above offer now	Median since offer
2021	136	69	$15.5B (100 sized)	$74.0M	+8.0% (n=122)	62% (n=127)	+70.9%
2022	151	113	$7.54B (87 sized)	$4.98M	+9.0% (n=139)	51% (n=145)	+2.8%
2023	247	188	$6.30B (175 sized)	$5.42M	+16.8% (n=212)	57% (n=235)	+33.6%
2024	338	246	$21.6B (262 sized)	$6.08M	+31.2% (n=325)	44% (n=331)	-6.8%
2025	388	280	$21.8B (235 sized)	$13.7M	+4.6% (n=384)	46% (n=379)	-6.9%
2026 to 7 Nov 2026	329	213	$18.6B (195 sized)	$18.2M	+4.8% (n=309)	55% (n=306)	+5.7%

How to read these tables

Filed: registration filed; no terms or date yet.
Approved: cleared to list (effective registration, red-herring prospectus or exchange approval); books not open yet.
Open: books open: subscription or book-building is in progress.
Closed: books closed; pricing or allotment pending.
Allotted: shares allotted to applicants; listing pending.
Listed: trading; prices after listing are TradingView's.
Withdrawn: deal pulled.
Price band / issue price: the range the shares are offered in, or the final offer price once set.
Deal size: shares offered × offer price (band midpoint until priced; India at the band top; China's planned raise until priced), in US dollars.
GMP (grey-market premium): the unofficial premium, over the top of the price band, at which dealers quote the shares before they list. Indicative only, never an official price.
Demand: how many times the shares on offer were bid for (subscription or oversubscription), or the market's own measure (Korea: institutional demand-forecast competition; China: online lottery hit rate, lower is hotter; Taiwan: Emerging Stock Board price before listing).
SPACs (blank-cheque shells that list to buy a company later) are left out, as on the live tab.

Questions

How many IPOs were there in India in 2025?: 388 companies listed in India in 2025 (SPACs left out), raising $21.8B in total. The median first-day move was +4.6%, and 46% of those with a price trade above their offer price as of 7 Nov 2026.
Which India IPOs are coming up?: As of 7 Nov 2026: Vedant Poly Fabs Limited (listing: 9 Nov 2026); Antala Industries (listing: 11 Nov 2026).
What is the grey-market premium (GMP) on upcoming India IPOs?: GMP is the unofficial premium at which shares are quoted before they list; it is indicative, not an official price. As of 7 Nov 2026: Vedant Poly Fabs Limited +1.1% (source: InvestorGain).

Other markets: United States · Hong Kong · Japan · Taiwan · South Korea · China · all IPOs. Calendars and terms come from the exchange and regulator lists; prices after listing from TradingView; feed as of 7 Nov 2026.