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Q3 FY26 IPO Performance Report: 3-Month, 6-Month, 9-Month & 1-Year Post-Listing Returns Analysis

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Updated on 14.07.2026|10:00 AM

A total of 89 IPOs were listed during October–December 2025 (Q3 FY26). 

Some debuted with strong listing gains, some opened at losses, while others listed near their issue price.

But is the listing day performance alone enough to judge how an IPO truly performed?

To answer that, we analysed all 89 Q3 FY26 IPOs beyond just listing gains or losses. 

This study tracks how these IPOs performed after listing over multiple timeframes — 

The article was first published after all Q3 FY26 IPOs completed 3 months from listing and has now been updated with 6-month performance data. Track all the IPOs of 2026 in our upcoming and live IPO section.

Table of Contents
How We Calculated IPO Returns 
Q3 FY26 IPO Performance Tracker: 3-Month vs 6-Month Returns
Overall Returns: Profit vs Loss Ratio in Q3 FY26 IPOs (3 Months vs 6 Months)
Avg Return: 1.27%
Top Gainers and Losers After 3 Months
Top 10 performers after 3 Months
Bottom 10 performers
SME vs Mainboard IPO Performance Comparison
Key Takeaways from Q3 FY26 IPO Performance
IPO Performance After 6 Months – Key Data Insights
Overall Returns: Profit vs Loss Ratio in Q3 FY26 IPOs
Top Gainers and Losers After 6 Months
SME vs Mainboard IPO Performance Comparison After 6 Months
Key Takeaways from Q3 FY26 IPO Performance After 6 Months
Did IPOs Sustain Listing Gains After 6 Months?
Upcoming Updates: Tracking IPO Performance Beyond 3 Months
Conclusion:
Important IPO Resources:

Overview of Q3 FY26 IPOs (Oct–Dec Listings Data Snapshot)

Total IPOs analyzed: 89

Mainboard IPOs: 27

SME IPOs: 62

How We Calculated IPO Returns 

We calculate all returns from the issue price.

Listing Gains/Losses: ((Listing Price - Issue Price) / Issue Price) × 100

3 Months Returns: ((Stock Price After 3 Months - Issue Price) / Issue Price) × 100

6 Months Returns: ((Stock Price After 6 Months - Issue Price) / Issue Price) × 100

It is important to compare from the issue price because it gives a clear view of how the IPO has performed from its IPO valuation.

Stock price after 3 months and 6 months refers to the stock price after completing 3 months and 6 months from the listing date.

Q3 FY26 IPO Performance Tracker: 3-Month vs 6-Month Returns

SL NoIPO NameListing Dt.Issue PriceListing PriceListing Gain/Loss3 Months Returns6 Months Returns
1Om Metallogic .07-Oct-20258685-1.16-68.60-77.67
2Fabtech Technologies (Mainboard)07-Oct-20251911920.523.59-22.61
3Advance Agrolife .08-Oct-202510011313.0031.001.21
4Zelio E-Mobility08-Oct-2025136154.913.90179.93176.10
5Valplast Technologies .08-Oct-202554575.560.00-11.11
6B.A.G. Convergence .08-Oct-20258710116.0937.9324.89
7Tata Capital13-Oct-2025326330.151.278.01-1.33
8WeWork India Management Ltd10-Oct-20256486500.31-6.40-25.99
9LG Electronics India14-Oct-20251140171550.4422.8234.58
10Mittal Sections14-Oct-2025143114.4-20.00-74.76-78.61
11Rubicon Research16-Oct-2025485620.127.8633.4779.51
12Canara Robeco AMC16-Oct-2025266280.55.456.410.98
13SK Minerals & Additives17-Oct-202512714514.174.7693.90
14Canara HSBC Life Insurance Co.17-Oct-20251061060.0035.3341.25
15Sihora Industries .16-Oct-202566706.06-12.12-6.06
16Midwest .24- Oct- 2025106511659.3924.8819.91
17Jayesh Logistics03-Nov-2025122120-1.6422.1352.30
18Shreeji Global FMCG .12-Nov-2025125117.5-6.00-5.6028.00
19Game Changers Texfab .04-Nov-2025102104.152.1130.399.95
20Orkla India06-Nov-20257307502.74-23.95-11.64
21Safecure Services06-Nov-202510281.6-20.00-69.90-70.39
22Lenskart Solutions .10-Nov-2025402390-2.9915.8621.85
23Studds Accessories .07-Nov-2025585565-3.42-11.68-17.71
24Finbud Financial Services .13-Nov-202514215710.56-20.42-14.44
25Groww (Billionbrains Garage)12-Nov-202510011212.0072.0583.09
26Curis Lifesciences .14-Nov-202512814614.06-18.754.30
27Shining Tools .14-Nov-2025114104-8.77-46.49-37.72
28Pine Labs .14-Nov-20252212429.50-8.00-29.54
29Mahamaya Lifesciences .18-Nov-20251141161.7557.8952.54
30Physicswallah .18-Nov-2025109143.131.28-4.591.26
31Emmvee Photovoltaic Power .18-Nov-20252172170.00-0.2216.31
32Workmates Core2Cloud Solution .18-Nov-2025204387.690.0064.7135.86
33Tenneco Clean Air India .19-Nov-202539749825.4440.8345.88
34Fujiyama Power Systems .20-Nov-2025228222-2.63-8.6816.75
35Capillary Technologies India .21-Nov-2025577560-2.95-7.79-10.87
36Excelsoft Technologies .26-Nov-202512013512.50-25.84-27.12
37Gallard Steel .26-Nov-202515022348.673.003.33
38Sudeep Pharma .28-Nov-202559373023.1010.4613.78
39SSMD Agrotech India .1-Dec-202512073-39.17-68.34-49.17
40K K Silk Mills .3-Dec-20253832-15.79-71.05-72.26
41Mother Nutri Foods .3-Dec-2025117118.41.2021.4546.15
42Ravelcare .,8-Dec-202513020154.6219.23-3.08
43Purple Wave Infocom .5-Dec-20251261324.76-12.30-12.70
44Exato Technologies .,5-Dec-202514026690.00128.86159.54
45Logiciel Solutions .,5-Dec-2025193154.4-20.00-81.19-77.49
46Invicta Diagnostic .8-Dec-20258510017.65-21.76-24.41
47Clear Secured Services .8-Dec-2025132119-9.85-12.88-22.54
48Helloji Holidays .09-Dec-20251181180.005.9316.95
49Speb Adhesives .08-Dec-202556607.14-5.7170.18
50Astron Multigrain .08-Dec-20256350.4-20.00-73.90-74.51
51Neochem Bio Solutions .09-Dec-20259810810.20-21.33-0.66
52Meesho10-Dec-202511116044.1430.6349.60
53Aequs .10-Dec-202512414012.906.9441.47
54Vidya Wires .10-Dec-20255252.130.25-1.9671.73
55Luxury Time .11-Dec-202582155.890.00-25.00-12.26
56Western Overseas Study Abroad Limited11-Dec-20255654.9-1.96-66.07-68.61
57Shri Kanha Stainless Limited10-Dec-20259088-2.22-73.44-70.17
58Encompass Design India Ltd (ScaleSauce)12-Dec-2025107203.390.00138.79119.77
59Wakefit Innovations Limited15-Dec-2025195194.1-0.46-16.92-36.11
60Flywings Simulator Training Centre Limited12-Dec-20251911952.09-6.81-12.20
61Methodhub Software Limited12-Dec-2025194155.2-20.00-46.39-55.64
62Corona Remedies Limited15-Dec-20251062147038.4245.0163.06
63Prodocs Solutions Limited15-Dec-20251381444.3538.9919.57
64Riddhi Display Equipments Limited15-Dec-202510080-20.00-67.50-65.82
65K. V. Toys India Limited15-Dec-202523932033.89-7.117.53
66Nephrocare Health Services Limited17-Dec-20254604906.5213.9660.22
67Neptune Logitek Limited22-Dec-2025126100.8-20.00-62.90-69.13
68Park Medi World Limited17-Dec-2025162158.8-1.9814.4456.88
69Pajson Agro India Limited,18-Dec-20251181245.0859.4955.08
70Unisem Agritech Limited17-Dec-202565650.00-7.55-26.54
71Ashwini Container Movers Limited19-Dec-20251421473.520.00-3.35
72Shipwaves Online Limited17-Dec-202512120.00-66.75-71.83
73ICICI Prudential Asset Management Company19-Dec-20252,165260020.0936.4258.38
74HRS Aluglaze Limited18-Dec-20259612631.25173.96156.25
75Exim Routes Limited19-Dec-20258811025.0069.3228.41
76Stanbik Agro Limited,19-Dec-20253031.755.8311.6729.23
77Shyam Dhani Industries Limited30-Dec-20257013390.00-22.86-8.57
78KSH International Limited,23-Dec-20253843993.9111.22124.84
79Global Ocean Logistics India Limited24-Dec-20257879.21.5433.3383.97
80MARC Technocrats Limited24-Dec-20259374.4-20.00-22.96-0.65
81Gujarat Kidney and Super Speciality Limited30-Dec-20251141205.26-10.3913.51
82Dachepalli Publishers Limited (DPL),30-Dec-202510281.6-20.00-49.90-20.32
83Admach Systems Limited (ASL).31-Dec-2025239191.2-20.00-20.4820.88
84EPW India Limited30-Dec-20259711114.4317.47117.42
85Sundrex Oil Company Limited30-Dec-20258668.8-20.00-71.10-71.51
86Apollo Techno Industries Limited31-Dec-202513014511.54-34.62-35.38
87Nanta Tech Limited31-Dec-20252202346.3627.16180.68
88Dhara Rail Projects Limited31-Dec-2025126123.65-1.87-27.7817.46
89Bai-Kakaji Polymers Limited31-Dec-20251861902.15-6.028.33

Here is the brief performance summary of these IPOs.

Overall Returns: Profit vs Loss Ratio in Q3 FY26 IPOs (3 Months vs 6 Months)

  • Avg Return: 1.27%

  • Median: -4.59%
  • % IPOs in Profit: 44.94%
  • % IPOs in Loss: 52.80%
  • % IPOs at Par with Issue Price: 2.24%
Q3 FY26 IPOs After 3 Months_ Profit vs Loss Distribution

More than half of the Q3 FY26 IPOs traded below their issue price after 3 months, while 44.94% remained in profit.

Top Gainers and Losers After 3 Months

Top 10 performers after 3 Months

Sl NoIPO Name3 Months ReturnSegment
1Zelio E-Mobility179.93BSE SME
2HRS Aluglaze Limited173.96BSE SME
3Encompass Design India Ltd (ScaleSauce)138.79NSE SME
4Exato Technologies128.86BSE SME
5Groww (Billionbrains Garage)72.05Mainboard
6Exim Routes Limited69.32NSE SME
7Workmates Core2Cloud Solution .64.71BSE SME
8Pajson Agro India Limited59.49BSE SME
9Mahamaya Lifesciences57.89BSE SME
10Corona Remedies Limited45.01Mainboard

Bottom 10 performers

Sl NoIPO Name3 Months ReturnSegment
1Logiciel Solutions-81.19BSE SME
2Mittal Sections-74.76BSE SME
3Astron Multigrain-73.9BSE SME
4Shri Kanha Stainless Limited-73.44NSE SME
5Sundrex Oil Company Limited-71.1NSE SME
6K K Silk Mills-71.05BSE SME
7Safecure Services-69.90BSE SME
8Om Metallogic-68.6BSE SME
9SSMD Agrotech India-68.34BSE SME
10Riddhi Display Equipments Limited-67.5BSE SME
Top 5 Gainers and Losers Among Q3 FY26 IPOs After 3 Months

Q3 FY26 IPO returns showed sharp divergence, with top performers delivering multibagger gains while the weakest listings fell over 70% within 3 months.

SME vs Mainboard IPO Performance Comparison

Mainboard Total IPOs

27

Avg Gain

11.82%

% of IPOs With Gain

66.67%

SME Total IPOs

62

Avg Gain

-3.33%

% IPOs with Gain

35.48%

Mainboard vs SME IPO Performance After 3 Months (Q3 FY26)

Mainboard IPOs outperformed SME IPOs in both average returns and percentage of profitable listings after 3 months in Q3 FY26.

Mainboard IPOs clearly outperformed SME IPOs after 3 months in Q3 FY26.

While 66.67% of Mainboard IPOs remained in profit with an average gain of 11.82%, SME IPOs recorded an average return of -3.33%, with only 35.48% in profit.

Key Takeaways from Q3 FY26 IPO Performance

Overall average return stood at 1.27%, reflecting mixed post-listing wealth creation across the quarter.

More IPOs were in loss (52.80%) than profit (44.94%) after 3 months.

Mainboard IPOs significantly outperformed SME IPOs in both returns and consistency.

SME IPOs were highly volatile, but also produced 4 multibaggers, showing high-risk, high-reward outcomes.

IPO selection mattered more than broad participation during this quarter.

Did IPOs Sustain Listing Gains After 3 Months?

  • % IPOs Above Listing Price After 3 Months: 37.08%
  • % IPOs Below Listing Price After 3 Months: 62.92%

Most IPOs failed to sustain their listing performance after 3 months, showing that early listing momentum faded for a majority of Q3 FY26 IPOs.

All Q3 FY26 IPOs have now completed 6 months from listing. The following analysis examines how performance evolved beyond the initial 3-month period.

IPO Performance After 6 Months – Key Data Insights

Overall Returns: Profit vs Loss Ratio in Q3 FY26 IPOs

  • Avg Return: 
  • Median Return
  • % IPOs in Profit
  • % IPOs in Loss
  • % IPOs at Par

Top Gainers and Losers After 6 Months

SME vs Mainboard IPO Performance Comparison After 6 Months

Key Takeaways from Q3 FY26 IPO Performance After 6 Months

Did IPOs Sustain Listing Gains After 6 Months?

What Drives IPO Performance After Listing? (Earnings, Sentiment & Lock-in Impact)

IPO listing gains may be driven by short-term sentiment, but sustained performance usually depends on fundamentals like growth, profitability, operational efficiency, capital allocation, and cash flow.

These strengths often emerge after initial excitement fades.

Upcoming Updates: Tracking IPO Performance Beyond 3 Months

This report will be updated with:

  • 9-month performance
  • 1-year performance

Conclusion:

Q3 FY26 IPO performance after 3 months remained mixed, with more IPOs in loss than profit and an overall average return of 1.27%.

Mainboard IPOs delivered stronger and more consistent returns, while SME IPOs remained highly volatile.

Most IPOs failed to sustain early listing gains, suggesting that fundamentals matter more over time.

This report will be further updated with 6-month, 9-month, and 1-year performance trends.

Important IPO Resources:

1. IPO Market Analytic and Research

2. Latest GMPs of upcoming, live and closed IPOs

3. IPO allotment status hub

4. Daywise subscription of IPOs.

5. IPO Listing Performance Tracker 2026 – Complete Dataset of IPO Listing Gains in India

6. IPO GMP vs Listing Accuracy Study 2026

7. IPO Valuation vs Listing Performance Study 2026

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