Summary: IPO Boom Outshines Market Turbulence as Highway Infrastructure, Aditya Infotech Lead August Gains.
August 2025 was a month of sharp contrasts for Indian investors. Equity markets came under pressure from heavy FII selling after steep US sectoral tariffs unsettled sentiments. Benchmarks slipped lower, volatility spiked, and investor confidence weakened. Yet, the IPO market painted a far brighter picture.
Despite turbulence, demand for new listings remained strong, with 14 of 17 issues ending the month in positive territory. Highway Infrastructure stole the spotlight with a 72.5% IPO listing gains, while Aditya Infotech and Sri Lotus Developers also delivered impressive gains, showcasing resilience in niche and growth-driven sectors. This divergence highlighted how IPOs defied broader market weakness and continued attracting retail, institutional, and HNI participation.
Adding to the optimism were policy signals—PM Modi’s Independence Day speech on GST reforms and the GST Council’s subsequent approval of a simplified tax structure. These reforms reassured investors, strengthening the outlook for IPO momentum in the months ahead.
In August 2025, 17 companies across diverse sectors debuted on the stock exchanges with varying post-listing performances. While some stocks like Aditya Infotech Ltd and National Securities Depository Ltd delivered strong gains both on listing day and in subsequent trading sessions, others, such as Vikram Solar Ltd, Gem Aromatics Ltd, and Mangal Electrical Industries Ltd, faced pressure after listing. The month reflected a mix of profitable listings, moderate gains, and a few negative returns.
| Company Name | Listed On | Issue Price | Listing Day Close | Listing Day Gain | Current Price | Profit/Loss |
| Highway Infrastructure Ltd. | Tue, Aug 12, 2025 | ₹70 | ₹120.75 | 72.50% | 93.99 | 34.63% |
| Aditya Infotech Ltd. | Tue, Aug 5, 2025 | ₹675 | ₹1082.65 | 60.39% | 1357.7 | 101.83% |
| Sri Lotus Developers & Realty Ltd. | Wed, Aug 6, 2025 | ₹150 | ₹195.67 | 30.45% | 183.57 | 22.43% |
| Regaal Resources Ltd. | Wed, Aug 20, 2025 | ₹102 | ₹131.58 | 29.00% | 110.19 | 7.99% |
| National Securities Depository Ltd. | Wed, Aug 6, 2025 | ₹800 | ₹936 | 17.00% | 1241.8 | 55.22% |
| Shanti Gold International Ltd. | Fri, Aug 1, 2025 | ₹199 | ₹229.38 | 15.27% | 236.23 | 18.74% |
| Patel Retail Ltd. | Tue, Aug 26, 2025 | ₹255 | ₹287.7 | 12.82% | 259.45 | 1.75% |
| Vikram Solar Ltd. | Tue, Aug 26, 2025 | ₹332 | ₹356.4 | 7.35% | 331.85 | -0.09% |
| Knowledge Realty Trust | Mon, Aug 18, 2025 | ₹100 | ₹106.24 | 6.24% | 107.91 | 7.91% |
| M&B Engineering Ltd. | Wed, Aug 6, 2025 | ₹385 | ₹408.65 | 6.14% | 415.95 | 7.86% |
| BlueStone Jewellery & Lifestyle Ltd. | Tue, Aug 19, 2025 | ₹517 | ₹546 | 5.61% | 556.1 | 7.50% |
| All Time Plastics Ltd. | Thu, Aug 14, 2025 | ₹275 | ₹283.3 | 3.02% | 302.75 | 10.07% |
| Shreeji Shipping Global Ltd. | Tue, Aug 26, 2025 | ₹252 | ₹255.1 | 1.23% | 253.05 | 0.52% |
| Property Share Investment Trust REIT | Mon, Aug 4, 2025 | ₹10,60,000 | ₹10,61,100 | 0.10% | 10,68,800 | 0.83% |
| JSW Cement Ltd. | Thu, Aug 14, 2025 | ₹147 | ₹146.07 | -0.63% | 159.17 | 8.27% |
| Gem Aromatics Ltd. | Tue, Aug 26, 2025 | ₹325 | ₹319.05 | -1.83% | 276.8 | -14.78% |
| Mangal Electrical Industries Ltd. | Thu, Aug 28, 2025 | ₹561 | ₹535.35 | -4.57% | 534.2 | -4.89% |
| Laxmi India Finance Ltd. | Tue, Aug 5, 2025 | ₹158 | ₹134.11 | -15.12% | 158.21 | -0.22% |
The undisputed star of the month was Highway Infrastructure Ltd. (HIL) stock. With decades of experience in toll collection, EPC projects, and real estate, the company came to the market with a ₹130 crore IPO, priced between ₹65–70. Highway Infrastructure Ltd stock debuted at ₹120.75, a 72.5% premium, before cooling off to ₹93.99 by month-end. Even after the pullback, early investors were sitting on 34.6% gains.
The second-biggest winner was Aditya Infotech, the parent of the well-known CP PLUS surveillance brand. Listed on August 5 at ₹1,082.65 against an issue price of ₹675, it rewarded investors with a 60.39% pop on debut. Remarkably, the stock continued its rally, ending the month at ₹1,357.70, delivering a 101.8% return in less than four weeks.
Mumbai-based Sri Lotus Developers & Realty Ltd., which specialises in ultra-luxury residential and commercial projects, also impressed. It listed at ₹195.67, a 30.45% premium, and settled at ₹183.57 by month-end, still rewarding investors with a 22.4% gain.
Other consistent winners included Regal Resources (29% debut, 7.9% overall gain), NSDL (17% debut, 55.2% overall gain), and Shanti Gold (15.3% debut, 18.7% overall gain).
Gem Aromatics (-14.8%), Mangal Electrical (-4.9%), and Laxmi India Finance (-0.2%) stumbled post-listing. JSW Cement slipped 0.6% on debut but rebounded, ending August 8.3% higher—showing mixed fortunes for August IPO laggards.
August 2025 showed India’s IPO market remains strong despite global volatility, with 14 of 17 listings ending positively. Multi-baggers like Aditya Infotech contrasted with laggards like Gem Aromatics, reinforcing that fundamentals matter. With GST reforms ahead, IPO momentum looks promising.
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