September 2025 was one of the busiest months for IPOs since 1997, with over 20 main board launches. However, the listing performance was mixed. Of the 25 companies that got listed, only 13 delivered listing gains, while 12 debuted below their issue prices.
Urban Company IPO emerged as the standout performer, posting nearly 60% listing gains, while several other companies also exceeded market expectations.
Below is the list of the top five companies with the highest listing gains and overall gains since listing in the month of September 2025.
| Company Name | Listed On | Issue Price | Listing Day Close | Listing Day Gain |
| Urban Co. Ltd. | Wed, Sep 17, 2025 | 103 | 166.83 | 62% |
| Amanta Healthcare Ltd. | Tue, Sep 9, 2025 | 126 | 141.75 | 13% |
| Shringar House of Mangalsutra Ltd. | Wed, Sep 17, 2025 | 165 | 184.88 | 12% |
| GK Energy Ltd. | Fri, Sep 26, 2025 | 153 | 167.74 | 10% |
| Atlanta Electricals Ltd. | Mon, Sep 29, 2025 | 754 | 823.35 | 9% |
Urban Company is India's leading technology-enabled home services platform, offering beauty, wellness, repair, and maintenance services across 59 cities in India, UAE, Singapore, and Saudi Arabia. The strong performance was driven by massive investor interest with 103× subscription and robust financials showing 36% revenue growth and 358% PAT growth in FY25.
Amanta Healthcare is a pharmaceutical company established in 1994, specializing in the development and manufacturing of sterile liquid formulations including parenteral products (IV fluids, diluents), ophthalmic solutions, and respiratory care products. The company reported revenue of ₹276 crore and net profit of ₹10.5 crore in FY25.
Shringar House of Mangalsutra is a Mumbai-based designer and manufacturer of premium mangalsutras, specializing in traditional gold necklaces studded with American diamonds, cubic zirconia, pearls, and semi-precious stones in 18k and 22k gold. The strong fundamentals were reflected in FY25 results showing revenue of ₹1,430 crore (up 30%) and PAT of ₹61 crore (up 96%).
GK Energy is India's leading pure-play EPC provider of solar-powered agricultural water pump systems, offering end-to-end solutions including survey, design, supply, installation, and maintenance. The company's IPO was subscribed 89.62× with particularly strong interest from QIBs (186.25×) and NIIs (122.73×).
Atlanta Electrical is a leading manufacturer of power, auto, and inverter duty transformers in India, with production facilities in Gujarat and Karnataka. With over three decades of experience, Atlanta serves domestic markets and exports to the USA, Gulf countries, and other international markets. The company's IPO was subscribed 70.63× with strong institutional interest (QIB: 194.92×). The performance was supported by robust financials showing 43% revenue growth and 87% PAT growth in FY25.
| Company Name | Listed On | Issue Price | Current Price | Profit/Loss |
| Urban Co. Ltd. | Wed, Sep 17, 2025 | 103 | 160.59 | 56% |
| Anlon Healthcare Ltd. | Wed, Sep 3, 2025 | 91 | 126.9 | 39% |
| Shringar House of Mangalsutra Ltd. | Wed, Sep 17, 2025 | 165 | 208.01 | 26% |
| GK Energy Ltd. | Fri, Sep 26, 2025 | 153 | 192.34 | 26% |
| Saatvik Green Energy Ltd. | Fri, Sep 26, 2025 | 465 | 551.7 | 19% |
Of the five companies mentioned above, three also featured among the IPOs that recorded robust listing day gains.
In September 2025, India’s IPO market saw record mainboard listings and strong investor interest, though performance remained mixed. Urban Company led with stellar gains, while Amanta Healthcare, Shringar House of Mangalsutra, GK Energy, and Atlanta Electricals also performed well. The presence of firms like Saatvik Green Energy highlights growing investor interest in renewable and tech-driven businesses, emphasizing that quality and growth potential drive IPO success.
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