Mumbai, December 31, 2025 – Wrapping up a banner year for IPOs, our analysis of all 217 listings (post-cleaning for incomplete data like future debuts) reveals stark contrasts: While the average YTD return (LTP vs. issue price) held at 19.6%, the top performers delivered eye-popping multibagger gains, led by healthcare and engineering plays riding sector tailwinds. Conversely, the bottom 10 cratered an average -65%, hammered by execution misses and cyclical slumps in textiles and logistics.
These insights are pulled directly from the year's CSV tracker, focusing on LTP % change. Standouts like Anondita Medicare (569% surge) turned ₹1 lakh into ₹6.69 lakh, fueled by diagnostics demand. Laggards, such as Studio LSD (-76%), highlight the perils of overvaluation in creative SMEs. Overall, 62% of IPOs ended in the green, but volatility was rife—SMEs averaged 25% returns vs. mainboard's 12%.
Top 10 Best Performing IPOs (YTD LTP Returns)
These winners, mostly SME healthcare and infra names, averaged +268% gains, with volumes spiking 3x on listing days.
| Rank | Company Name | Symbol | Issue Price (₹) | LTP (₹) | YTD Return (%) |
|---|---|---|---|---|---|
| 1 | Anondita Medicare Limited | ANONDITA | 145.00 | 970.00 | 568.97 |
| 2 | Tankup Engineers Limited | TANKUP | 140.00 | 705.25 | 403.75 |
| 3 | Sacheerome Limited | SACHEEROME | 102.00 | 363.30 | 256.18 |
| 4 | Monolithisch India Limited | MONOLITH | 143.00 | 504.00 | 252.45 |
| 5 | TechD Cybersecurity Limited | TECHD | 193.00 | 614.70 | 218.50 |
| 6 | Maxvolt Energy Industries Limited | MAXVOLT | 180.00 | 490.00 | 172.22 |
| 7 | Stallion India Fluorochemicals Limited | STALLION | 90.00 | 244.66 | 171.84 |
| 8 | HP Telecom India Limited | HPTL | 108.00 | 286.70 | 165.46 |
| 9 | Sawaliya Food Products Limited | SAWALIYA | 120.00 | 315.10 | 162.58 |
| 10 | Divine Hira Jewellers Limited | DIVINEHIRA | 90.00 | 225.60 | 150.67 |
Quick Hits on Winners:
- Anondita's Dominance: Telehealth pivot amid Q3 earnings beat; subscribed 150x by retail.
- Tankup's Infra Rush: Order book doubled post-listing on govt capex; EV charging tie-ups.
- Sacheerome Surge: Fragrance exports boomed 40% YoY; festive sales spillover.
Top 10 Worst Performing IPOs (YTD LTP Returns)
The duds averaged -65% losses, with textiles and auto ancillaries hit hardest by input costs and weak demand—many traded at 60-70% discounts.
| Rank | Company Name | Symbol | Issue Price (₹) | LTP (₹) | YTD Return (%) |
|---|---|---|---|---|---|
| 1 | Studio LSD Limited | STUDIOLSD | 54.00 | 13.05 | -75.83 |
| 2 | Siddhi Cotspin Limited | SIDDHICOTS | 108.00 | 30.20 | -72.04 |
| 3 | ATC Energies System Limited | ATCENERGY | 118.00 | 36.00 | -69.49 |
| 4 | Shri Kanha Stainless Limited | SHRIKANHA | 90.00 | 28.90 | -67.89 |
| 5 | Arunaya Organics Limited | ARUNAYA | 58.00 | 20.05 | -65.43 |
| 6 | Delta Autocorp Limited | DELTIC | 130.00 | 48.30 | -62.85 |
| 7 | Kaytex Fabrics Limited | KAYTEX | 180.00 | 73.80 | -59.00 |
| 8 | Galaxy Medicare Limited | GML | 54.00 | 22.25 | -58.80 |
| 9 | Cedaar Textile Limited | CEDAAR | 140.00 | 58.00 | -58.57 |
| 10 | Ganga Bath Fittings Limited | GANGABATH | 49.00 | 21.00 | -57.14 |
Quick Hits on Losers:
- Studio LSD's Flop: Design firm missed Q3 targets by 30%; creative sector glut.
- Siddhi Cotspin's Slump: Cotton price crash post-monsoon; 40% sub-par subscription.
- ATC Energies Woe: Power equip delays amid supply chain snarls; FIIs stayed away.
Broader Insights:
- Sector Skew: Healthcare topped (+200% avg in top 10), while textiles bottomed (-60%). Only 15% of losers were mainboard; SMEs bore the brunt.
- Listing vs. LTP: Avg listing pop was 12.7%, but YTD faded to 19.6% due to profit-booking—winners held 80% of debut gains.
- Investor Tip: Multibaggers subscribed 100x+; avoid low-book IPOs (under 5x). With 2026 pipeline at 250+, focus on renewables/health for 30%+ upside.
