Several of these IPOs resulted in either muted or even discount listings in 2025, resulting in sharp losses for investors as these issues come with large lot sizes in comparison to mainboard IPOs.
Shares of E to E Transportation Infrastructure are scheduled to be listed on the NSE Emerge platform on January 2.
Krishna Buildspace IPO | The public issue consists of a fresh issue of 90 lakh shares and an offer for sale of 9 lakh shares by Mohanbhai Chanabhai Sorathiya and Jayantibhai Chanabhai Sorathiya.
Modern Diagnostic shares are expected to be allotted by January 5 through the registrar Link Intime, while the listing is scheduled for January 7.
Veegaland IPO | The company's maiden public offering is a completely fresh issue of shares with no Offer-for-Sale (OFS) component.
The proposed all-fresh issue could value the global travel technology firm at $7–8 billion, marking its return to the public markets after shelving earlier plans amid global volatility.
Modern Diagnostic IPO | The company launched IPO with the aim to raise nearly Rs 37 crore by issuing fresh 40.99 lakh shares at the upper end of price band of Rs 85-90 per share.
E to E Transportation Infra shares will be listed on the Emerge platform of NSE on January 2, following a 527 times subscription to its Rs 84-crore issue.
Vishal Nirmiti IPO | The public issue is a combination of fresh issuance of shares worth Rs 125 crore, and an offer-for-sale of 15 lakh shares by promoter Vaman Prestressing Company.
Dhara Rail Projects market debut was better than the expectations in the grey market, which had estimated about 13% listing gains.
Admach Systems share price: The listing has missed grey market estimates
Despite the absence of demonstrated profitability, valuations are often built on gross merchandise value and market share rather than earnings or free cash flow, AICPDF added.
The REIT, which has been backed by private equity major Blackstone, has a gross asset value of around Rs 39,000 crore
E to E Transportation IPO | The company launched its IPO of 48.4 lakh shares on December 26, raising Rs 84.2 crore at the upper end of price band of Rs 164-174 per share.
Deepa Jewellers IPO | The company plans to mop up Rs 250 crore by issuing fresh shares, while promoters Ashish Agarwal and his wife will be selling up to 1.18 crore equity shares via offer-for-sale.
This will be the fifth office real estate investment trust in the Indian market after Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust and Knowledge Realty Trust.
Sundrex Oil Company IPO GMP: Ahead of listing, the unlisted shares were trading flat at the IPO price with zero grey market premium (GMP).
Shyam Dhani Industries IPO GMP: The maiden public issue of the company saw strong investor interest, being subscribed 918x from December 22-24.
Gujarat Kidney market debut was better than the expectations in the grey market, which had expected a flat listing for its shares.
Neolite ZKW Lightings IPO | The public issue comprises of fresh issuance of shares worth Rs 400 crore, and an offer-for-sale of Rs 200 crore worth shares by existing shareholders.
Horizon Industrial Parks IPO | The public issue comprises of entirely fresh issue with no offer-for-sale component.
The SEBI has issued observations on the draft document of Varmora Granito on December 15, followed by Shivalaya Construction, and Behari Lal Engineering on December 24, and Knack Packaging on December 26.
The Rs 251-crore IPO was priced in a band of Rs 108–114 per share. The company had earlier raised a little over Rs 100 crore from anchor investors.
Horizon is expected to file its DRHP today with market regulator SEBI to raise around $300 million, sources said.
WOG Technologies IPO | The company approached capital markets to mop up Rs 375 crore via issuance of fresh shares, while existing shareholders including promoter Sunil Kumar will be offloading up to 43.28 lakh shares via offer-for-sale.
