IPO
IPO Class of 2025
A verified record of the standout Indian IPOs of 2025: issue price, listing date, and listing-day gain for each, from the mega Tata Capital and LG Electronics issues to the new-age and small-cap pops.
The class of 2025
BazaarBaazi tracks 15 of the most notable Indian IPOs of 2025 with a verified listing record for each, from the year's largest issue (Tata Capital, 15,500 crore) to its biggest listing pop (Highway Infrastructure, about 75.49% on debut). The class carries an aggregate Class Scorecard of 65/100. It is editorial framing, not investment advice.
BazaarBaaziSource & method
The class of 202515 IPOs
Each card is a verified listing record. Click through for the offer, the listing, and the desk read.
Infrastructure · +75.49%
Highway Infrastructure
The top listing-day gainer of 2025, up over 75% from a 70 rupee offer.
Consumer internet · +62%
Urban Company
The home-services platform delivered a 62% listing-day rally.
E-commerce · +53%
Meesho
The value e-commerce platform popped 53% on debut, a December new-age winner.
Consumer durables · ~50%
LG Electronics India
The Indian arm of the Korean major delivered one of the year's biggest large-cap pops, around 50%.
Video surveillance · ~50%
Aditya Infotech (CP Plus)
The maker of CP Plus surveillance cameras lit up the market with a 51% opening pop on its debut.
Edtech · +31.28%
PhysicsWallah
The edtech platform listed in November 2025 at 143 rupees, a 31% debut premium over the 109 rupee issue price that beat grey-market estimates.
Fintech · +30.93%
Groww (Billionbrains Garage Ventures)
The retail-investment platform listed in November 2025, closing its debut day 30.93% above the 100 rupee issue price.
Auto components · +27.2%
Tenneco Clean Air India
The exhaust-systems maker listed at 505 rupees on debut, a 27.2% premium, as the auto-components space attracted strong institutional interest.
CDMO pharma · +26.85%
Anthem Biosciences
The CDMO pharma firm listed at 723 rupees on debut, delivering a verified 26.85% premium to allottees.
Asset management · +20.38%
ICICI Prudential AMC
One of India's largest fund houses listed with a 20% premium in December.
NBFC · +13.64%
HDB Financial Services
The HDFC Bank NBFC arm raised 12,500 crore and opened with a 13.6% pop.
Market infrastructure · +10%
NSDL (National Securities Depository)
India's oldest securities depository listed exclusively on BSE with a 10% opening premium in August 2025.
IT services · +3.25%
Hexaware Technologies
India's largest-ever IT-services IPO priced at 708, listing at a measured low single-digit premium in February 2025.
NBFC · +1%
Tata Capital
The largest Indian IPO of 2025 by issue size, and a muted debut near the offer price.
EV · -6%
Ather Energy
The EV two-wheeler maker debuted below issue, then re-rated hard over the months after.
FAQ3 reader questions · AEO-eligible
The editorial line, distilled. Schema-marked for AI Overview and reader search.
Which was the biggest IPO of 2025 in India?
Tata Capital was the largest Indian IPO of 2025 by issue size, raising over 15,500 crore rupees at a 326 rupee issue price, though it listed close to its offer price.
Which 2025 IPO had the highest listing gain?
Highway Infrastructure delivered the highest listing-day gain of 2025, listing about 75.5 percent above its 70 rupee issue price.
Are these IPO returns current prices?
No. These pages record the verified listing-day facts (issue price, listing date, and listing gain), which are the durable record. Post-listing prices move daily and are not shown here.