This IPO market trend check by issue size shows that, among 2026 IPOs, the ₹500–1,000 crore bracket has listed best, with a median gain of 18.54% on the issue price. Issues of ₹1,000–5,000 crore managed a median of 3.92%. Size alone does not decide a listing, but in our records it lines up with demand.
How do listing gains differ by issue size?
We grouped every 2026 listing in IPO Guru's records into four size brackets. Gain here means the listing-day open against the issue price. Subscription is the final overall figure.
| Issue size | Listings | Median listing gain | Opened above issue | Median subscription |
|---|---|---|---|---|
| Under ₹500 crore | 49 | 6.67% | 34 | 14.2x |
| ₹500–1,000 crore | 26 | 18.54% | 17 | 51.84x |
| ₹1,000–5,000 crore | 26 | 3.92% | 15 | 16.67x |
| ₹5,000 crore and above | 5 | 6.85% | 5 | 5.71x |
Read the last two columns together. The bracket with the highest gain also has the highest median subscription, 51.84x. That is more than three times the 16.67x of the bracket above it.
What the numbers say
Small issues are not the strongest. Of 49 issues under ₹500 crore, 34 opened above the issue price, about 69%. In the ₹500–1,000 crore bracket it was 17 of 26, about 65%. The difference is the size of the gain, not how often it happened.
The ₹1,000–5,000 crore bracket is the weakest. Only 15 of 26 opened above the issue price, about 58%, and the median gain is under 4%. These issues need more money to fill, and their median book of 16.67x was far lighter than the 51.84x just below them.
The five issues of ₹5,000 crore and above all opened above the issue price. The median gain was 6.85% on a median book of 5.71x. Five is a small sample. One more listing would move these medians a lot.
Where Jio Platforms fits
The ₹30,213 crore Jio Platforms IPO is the largest public issue in India's history, as reported by BusinessLine. It is far above the top bracket in the table. Its listing has not happened, so it is not in these figures. How it lists will change the top row.
The same report quotes market participants saying large issues are pulling money away from the secondary market. That is their view. Our table only describes what listings did after the fact.
What this table cannot tell you
- Medians hide the spread. Each bracket has listings far above and far below its median.
- Listing-day gain is not what the stock does afterwards.
- Brackets are by issue size, not by sector, market mood or grey market premium.
What happens next
Listings keep adding to these numbers, and the November calendar is already filling up. We covered the demand side on IPO demand in October. You can check every past listing on the IPO performance page, and we will refresh this size table as more issues list.
