Indcap Advisors Pvt. Ltd.

Indcap Advisors Pvt. Ltd. IPO Track Record

Indcap Advisors Pvt. Ltd. has managed 3 IPOs that we track (all SME issues) between January 2026 and September 2026. Across the 3 with a recorded listing price, the average listing gain was +41.7%, against +11.65% for all 184 SME IPOs we track, and 2 of 3 listed at or above the issue price. The strongest debut was SpectraA Technology (+90%); the weakest was Injecto Polymers (-1%).

Listing gain is measured from the issue price to the listing-day opening price. Past listings do not predict how a future IPO will list, and the lead manager does not set the listing price. This is a record of public data, not a recommendation.