Mumbai, December 8, 2025 – India's IPO market, once a rocket ride for retail dreamers, has hit a brutal skid. With over 100 listings this year, the shine has worn off faster than expected, leaving not a single debut trading above its issue price. The fallout? An average loss of 26.88% per share, but for the unlucky few who bet big on these flops, the pain runs deeper—up to 73% in red ink.
Today's fresh listing, Clear Secured Services Limited (CSSL), barely hit the exchange before dipping 14.32% to ₹113.10 from its ₹132 issue price. It's a stark reminder: Hype meets reality, and reality is biting hard. From creative agencies to steel mills, these top 10 disasters have wiped out investor confidence and sparked calls for SEBI to pump the brakes on overvalued debuts.
The Biggest Losers: A Roll Call of Regret
Here's the grim leaderboard of 2025's worst-performing IPOs, ranked by percentage plunge from issue price to latest traded price (LTP). Sectors like textiles, organics, and autos dominate the carnage.
| Rank | Company Name | Symbol | Issue Price (₹) | LTP (₹) | Loss % |
|---|---|---|---|---|---|
| 1 | Studio LSD Limited | STUDIOLSD | 54.00 | 14.50 | -73.15% |
| 2 | Siddhi Cotspin Limited | SIDDHICOTS | 108.00 | 30.65 | -71.62% |
| 3 | Arunaya Organics Limited | ARUNAYA | 58.00 | 18.00 | -68.97% |
| 4 | ATC Energies System Limited | ATCENERGY | 118.00 | 37.50 | -68.22% |
| 5 | NewMalayalam Steel Limited | NMSTEEL | 90.00 | 32.80 | -63.56% |
| 6 | Delta Autocorp Limited | DELTIC | 130.00 | 49.20 | -62.15% |
| 7 | Galaxy Medicare Limited | GML | 54.00 | 20.75 | -61.57% |
| 8 | Rexpro Enterprises Limited | REXPRO | 145.00 | 57.70 | -60.21% |
| 9 | Supreme Facility Management Limited | SFML | 76.00 | 31.25 | -58.88% |
| 10 | Gem Aromatics Limited | GEMAROMA | 325.00 | 136.80 | -57.91% |
Studio LSD, a design firm that dazzled with a 24% listing day drop, has since free-fallen to pennies on the rupee. Textile spinner Siddhi Cotspin isn't far behind, its shares halved twice over amid supply chain woes. Organics player Arunaya and energy firm ATC have both shed nearly 70%, victims of green hype gone sour in a rate-hike world.
What's Fueling the Freefall?
Experts blame a toxic mix: Inflated pre-IPO pricing, slowing GDP growth, and foreign investor flight amid global uncertainties. "These weren't investments; they were lotteries with lousy odds," quips market analyst Rajiv Singh. Retail punters, who scooped up 60% of allotments, are nursing the deepest wounds—collective losses topping ₹10,000 crore by conservative estimates.
