IPO listing gains have held up in recent weeks. Twelve of the last 13 mainboard IPOs opened above their issue price. Their median listing gain was 7.61%, as per IPO Guru records for the 30 days to 9 November 2026. That is a little better than the 6.63% median of the 30 days before.
How do the last 30 days compare?
| Period | Listings | Median gain | Average gain | Opened above issue |
|---|---|---|---|---|
| Last 30 days | 13 | 7.61% | 17.2% | 12 |
| Previous 30 days | 32 | 6.63% | 14.14% | 22 |
| 2026 so far | 113 | 7% | 13.85% | 78 |
The number of listings has fallen sharply. There were 32 in the previous 30 days and only 13 in the latest. Fewer issues are coming to the market.
The average is well above the median. A few big listings pull the average up. The median shows what the typical IPO did.
One listing in the last 30 days did not open above its issue price. That can happen even in a good month. A median only tells you the middle of the pack.
How have listing gains moved month by month?
The table below goes back to October 2025. The median is the gain of the middle listing in that month. We use it because one huge listing can distort the average.
| Month | Listings | Median gain | Opened above issue |
|---|---|---|---|
| Oct 2025 | 16 | 1.99% | 10 |
| Nov 2025 | 9 | 12.5% | 5 |
| Dec 2025 | 10 | 2.63% | 5 |
| Jan 2026 | 3 | -9.19% | 1 |
| Feb 2026 | 3 | 0% | 1 |
| Mar 2026 | 10 | -4.92% | 3 |
| Apr 2026 | 6 | 1.02% | 3 |
| May 2026 | 2 | 7.31% | 2 |
| Jun 2026 | 3 | 7.22% | 2 |
| Jul 2026 | 13 | 8.47% | 9 |
| Aug 2026 | 18 | 21.7% | 18 |
| Sep 2026 | 32 | 7.35% | 20 |
| Oct 2026 | 18 | 6.11% | 14 |
| Nov 2026 (to 9 Nov) | 5 | 7.61% | 5 |
August stands out. All 18 listings opened above the issue price, with a median gain of 21.7%. Since then the median has settled between 6% and 8%.
The weak patch was January to April. The median was negative in January and March, and most issues in those months did not open above their issue price.
Which listings gained the most this year?
| Company | Listed | Listing gain |
|---|---|---|
| Tempsens Instruments (India) | 28 August | 111.33% |
| Bharat Coking Coal | 19 January | 95.65% |
| ESDS Software Solution | 4 September | 76.46% |
These three are the exceptions. The typical listing is far smaller than any of them.
Even so, the top three sit far above the 7% median for the year. They show how wide the spread of listing gains is.
What does this mean?
Listing gains are measured at the opening price on the NSE. They say nothing about where a stock trades later. A listing gain also does not predict what the next IPO will do.
You can see every listing, with its gain, on our IPO performance page. The IPO calendar shows the issues still to come.
