September 2026 IPOs: How All 70 Listings Opened on Day One
By IPO Cracker Editorial Team ·
September 2026 was one of the busiest months of the year for new listings: 70 IPOs debuted, 32 on the Mainboard and 38 on the SME platforms, including the long-awaited listing of the National Stock Exchange itself. Here is how every one of them opened on its first day of trading.
September at a glance
| Mainboard | SME | |
|---|---|---|
| IPOs listed | 32 | 38 |
| Combined issue size | ₹40,355 crore | ₹1,654 crore |
| Average listing gain | +16.0% | +16.4% |
| Median listing gain | +10.7% | +1.5% |
| Opened above issue price | 21 | 23 |
| Opened at issue price | 3 | 7 |
| Opened below issue price | 8 | 8 |
The averages are almost identical, but the medians are not. Half of the month's SME listings opened less than 1.5% above their issue price, and seven opened exactly flat. The SME average was lifted by four issues that hit the 90% opening-price cap that applies to SME listings: Shanti Inorganics, Farm Peace, SpectraA Technology and Robokidz Eduventures.
The NSE listing
The month's largest issue by far was the National Stock Exchange IPO: ₹22,562 crore at ₹1,785 a share, more than half of all the money raised on the Mainboard in September. It opened at ₹1,800 on 24 September, a 0.8% gain. For an issue that size, a near-flat debut is common: the price was set to clear a very large book, and much of the expected value was already reflected in the issue price.
Leave the NSE issue out and the other 31 Mainboard IPOs raised ₹17,794 crore between them.
Best and worst debuts
- Best Mainboard: Adroit Industries (+86.6%), ESDS Software (+76.5%) and SS Retail (+47.2%).
- Worst Mainboard: Annu Projects (−24.2%), Skyways Air (−8.8%) and Purple Style Labs (−7.0%).
- Best SME: four issues at the +90% cap, followed by Qualiance International (+77.1%) and Kwick Forensic Solutions (+66.7%).
- Worst SME: Fly-Hi Maritime (−20.0%) and Quanto Agroworld (−14.3%).
Every Mainboard listing
| IPO | Listed | Issue size | Issue price | Listing open | Gain |
|---|---|---|---|---|---|
| Hy-Tech Engineers | 01 Sep | ₹136 Cr | ₹53 | ₹77.1 | +45.5% |
| Skyways Air | 01 Sep | ₹583 Cr | ₹137 | ₹124.99 | −8.8% |
| Symbiotec Pharmalab | 01 Sep | ₹1,757 Cr | ₹988 | ₹1,100 | +11.3% |
| Annu Projects | 02 Sep | ₹175 Cr | ₹99 | ₹75 | −24.2% |
| Lumino Industries | 03 Sep | ₹700 Cr | ₹82 | ₹110 | +34.1% |
| ESDS Software | 04 Sep | ₹720 Cr | ₹429 | ₹757 | +76.5% |
| Priority Jewels | 04 Sep | ₹91.5 Cr | ₹200 | ₹230 | +15.0% |
| Purple Style Labs | 07 Sep | ₹680 Cr | ₹575 | ₹535 | −7.0% |
| Deepa Jewellers | 08 Sep | ₹460 Cr | ₹177 | ₹221 | +24.9% |
| Rays of Belief | 08 Sep | ₹125 Cr | ₹239 | ₹239 | 0.0% |
| Pranav Constructions | 15 Sep | ₹351 Cr | ₹124 | ₹162 | +30.6% |
| Glass Wall Systems | 16 Sep | ₹428 Cr | ₹182 | ₹223.25 | +22.7% |
| Kanohar Electricals | 16 Sep | ₹1,056 Cr | ₹632 | ₹775.65 | +22.7% |
| Prasol Chemicals | 16 Sep | ₹500 Cr | ₹676 | ₹651.55 | −3.6% |
| Asset Reconstruction | 17 Sep | ₹733 Cr | ₹139 | ₹139 | 0.0% |
| Karamtara Engineering | 17 Sep | ₹875 Cr | ₹254 | ₹320 | +26.0% |
| LCC Projects | 17 Sep | ₹427 Cr | ₹146 | ₹191.9 | +31.4% |
| Manipal Payment | 17 Sep | ₹805 Cr | ₹339 | ₹330 | −2.6% |
| Rentomojo | 17 Sep | ₹1,256 Cr | ₹404 | ₹480 | +18.8% |
| Steamhouse India | 17 Sep | ₹414 Cr | ₹81 | ₹93 | +14.8% |
| Veegaland Developers | 18 Sep | ₹210 Cr | ₹140 | ₹154 | +10.0% |
| Manika Plastech | 21 Sep | ₹126 Cr | ₹43 | ₹43 | 0.0% |
| Hero Motors | 23 Sep | ₹1,000 Cr | ₹84 | ₹82 | −2.4% |
| Jindal Supreme | 23 Sep | ₹125 Cr | ₹93 | ₹120 | +29.0% |
| SS Retail | 23 Sep | ₹501 Cr | ₹424 | ₹624 | +47.2% |
| NSE (National Stock Exchange) | 24 Sep | ₹22,562 Cr | ₹1,785 | ₹1,800 | +0.8% |
| Sonaselection India | 24 Sep | ₹142 Cr | ₹99 | ₹102.31 | +3.3% |
| Varmora Granito | 29 Sep | ₹708 Cr | ₹148 | ₹152 | +2.7% |
| Adroit Industries | 30 Sep | ₹151 Cr | ₹134 | ₹250 | +86.6% |
| ArMee Infotech | 30 Sep | ₹300 Cr | ₹375 | ₹368.85 | −1.6% |
| Elevate Campuses | 30 Sep | ₹2,100 Cr | ₹362 | ₹356.5 | −1.5% |
| Swastika Infra | 30 Sep | ₹161 Cr | ₹185 | ₹200 | +8.1% |
Every SME listing
| IPO | Listed | Issue size | Issue price | Listing open | Gain |
|---|---|---|---|---|---|
| ABH Healthcare | 01 Sep | ₹35.0 Cr | ₹102 | ₹99 | −2.9% |
| Madhur Knit Crafts | 01 Sep | ₹27.0 Cr | ₹100 | ₹100 | 0.0% |
| Sumax Engineering | 02 Sep | ₹53.4 Cr | ₹101 | ₹111 | +9.9% |
| Kwick Forensic Solutions | 03 Sep | ₹50.8 Cr | ₹90 | ₹150 | +66.7% |
| Complete Sports & Management | 04 Sep | ₹74.9 Cr | ₹135 | ₹139 | +3.0% |
| Paluck Technologies | 04 Sep | ₹33.0 Cr | ₹48 | ₹46.8 | −2.5% |
| Ashutosh Fibre | 07 Sep | ₹56.4 Cr | ₹92 | ₹140 | +52.2% |
| Phychem Technologies | 07 Sep | ₹14.6 Cr | ₹54 | ₹56 | +3.7% |
| Shanti Inorganics | 07 Sep | ₹47.2 Cr | ₹83 | ₹157.7 | +90.0% |
| Farm Peace | 08 Sep | ₹32.0 Cr | ₹59 | ₹112.1 | +90.0% |
| Fly-Hi Maritime | 08 Sep | ₹52.6 Cr | ₹102 | ₹81.6 | −20.0% |
| Qualiance International | 11 Sep | ₹45.1 Cr | ₹127 | ₹224.9 | +77.1% |
| Apana Logistics | 15 Sep | ₹34.1 Cr | ₹60 | ₹60 | 0.0% |
| Amtech Esters | 17 Sep | ₹17.9 Cr | ₹75 | ₹100 | +33.3% |
| Infrax Renewable | 17 Sep | ₹40.9 Cr | ₹104 | ₹104 | 0.0% |
| Vinod Texworld | 17 Sep | ₹42.8 Cr | ₹94 | ₹94 | 0.0% |
| Maharaja & Speedex India | 18 Sep | ₹80.1 Cr | ₹186 | ₹250 | +34.4% |
| Om Galaxy | 18 Sep | ₹105 Cr | ₹90 | ₹90.2 | +0.2% |
| Panchatv Bharat | 18 Sep | ₹24.6 Cr | ₹140 | ₹128.95 | −7.9% |
| Raksan Transformers | 18 Sep | ₹150 Cr | ₹273 | ₹273 | 0.0% |
| Century Business Media | 21 Sep | ₹17.1 Cr | ₹74 | ₹74 | 0.0% |
| Injecto Polymers | 21 Sep | ₹56.1 Cr | ₹100 | ₹99 | −1.0% |
| Quanto Agroworld | 22 Sep | ₹31.0 Cr | ₹67 | ₹57.45 | −14.2% |
| Shakti Polytarp | 22 Sep | ₹26.9 Cr | ₹59 | ₹57.99 | −1.7% |
| Vama Wovenfab | 22 Sep | ₹49.5 Cr | ₹341 | ₹341 | 0.0% |
| Kheria Autocomp | 24 Sep | ₹46.4 Cr | ₹101 | ₹104.9 | +3.9% |
| SpectraA Technology | 24 Sep | ₹42.5 Cr | ₹118 | ₹224.2 | +90.0% |
| Axiom Gas Engineering | 25 Sep | ₹50.8 Cr | ₹53 | ₹54.5 | +2.8% |
| FX Multitech | 28 Sep | ₹45.2 Cr | ₹116 | ₹123.05 | +6.1% |
| Robokidz Eduventures | 28 Sep | ₹31.1 Cr | ₹106 | ₹201.4 | +90.0% |
| Vivekanand Cotspin | 28 Sep | ₹24.1 Cr | ₹37 | ₹38 | +2.7% |
| Anand Seamless | 29 Sep | ₹25.5 Cr | ₹72 | ₹72.1 | +0.1% |
| Himalaya Nutravedics | 29 Sep | ₹26.5 Cr | ₹106 | ₹118 | +11.3% |
| Coreintegra Consulting | 30 Sep | ₹20.9 Cr | ₹78 | ₹78.1 | +0.1% |
| Liqvd Digital | 30 Sep | ₹39.0 Cr | ₹54 | ₹53.73 | −0.5% |
| Pooja Logistics | 30 Sep | ₹42.0 Cr | ₹115 | ₹118 | +2.6% |
| S.K.Offset | 30 Sep | ₹29.1 Cr | ₹125 | ₹126 | +0.8% |
| Unitec Fibres | 30 Sep | ₹32.7 Cr | ₹88 | ₹90 | +2.3% |
What stood out
- The month ended quietly. Of the seven Mainboard IPOs that listed from 24 September onwards, five opened within 4% of their issue price; Adroit Industries and Swastika Infra were the exceptions.
- Flat SME debuts were common. Seven of 38 SME issues opened exactly at their issue price, so the typical SME outcome was close to nothing either way.
- A good month is not a good month for every issue. Even in a strong month, 16 of the 70 listings opened below their issue price.
About the numbers
Each percentage compares the first traded price on debut with the final offer price. Dual-listed shares sometimes open a few rupees apart on NSE and BSE, so a figure here can differ marginally from one exchange's own report. Issue size covers the whole offer, fresh issue and offer for sale together. A first-day open is a snapshot; it is not a guide to later performance.
For the year so far, see 2026 IPO listing gains: median vs average. Upcoming issues are on the IPO calendar, and every past listing is in our listing performance tracker.