14 retail IPOs crash up to 48% from issue prices
The 2025 IPO scene in India has been a rollercoaster—25 mainboard IPOs drew huge crowds (up to 246x retail subscriptions), but 14 of them are now trading below their original prices, with drops ranging from about 12% to a steep 48%.
Big winners and losers
VMS TMT was among the hardest hit, falling nearly 48% despite strong demand, while Gem Aromatics dropped even further, down by 55%.
Other names like Dev Accelerator, Laxmi Dental, JSW Cement, and Vikram Solar also saw double-digit losses.
On the brighter side, Stallion India Fluorochemicals soared by an impressive 137%, and Aditya Infotech jumped over 125%.
Urban Company, LG Electronics, and others also posted solid gains.
The bigger picture
Even with these ups and downs, the Indian IPO market is still buzzing—102 mainboard IPOs have listed this year alone.
So while some stocks stumbled after debuting big, there's no shortage of action for anyone keeping an eye on new listings.