Begin typing your search...

Multibagger IPOs: Waaree Energies, Aditya Infotech Among Top Gainers Since Diwali 2024

India's IPO market shines since Diwali 2024 with Waaree Energies, Aditya Infotech, and Stallion India delivering over 300% returns. FY26 outlook remains strong.

Multibagger IPOs: Waaree Energies, Aditya Infotech Among Top Gainers Since Diwali 2024

Multibagger IPOs: Waaree Energies, Aditya Infotech Among Top Gainers Since Diwali 2024
X

22 Oct 2025 11:40 AM IST


Multibagger IPOs: Waaree Energies, Aditya Infotech Among Top Gainers Since Diwali 2024

Multibagger IPOs: Waaree Energies, Aditya Infotech Among Top Gainers Since Diwali 2024

India IPO Market Gains

India's IPO market has been on a roll since Diwali 2024, witnessing historic fundraising and surging investor enthusiasm. Major companies such as Tata Capital, LG Electronics India, and WeWork India made their market debut, with overall funds raised projected to exceed ₹1.5 lakh crore in October 2025 alone.

These IPOs have not only set new fundraising benchmarks but also produced multibagger returns for savvy investors, reaffirming confidence in the Indian capital markets as the nation enters Samvat 2082.

Top Multibagger IPOs Since Diwali 2024

Company Listing Date Issue Price (₹) Price as on Oct 20 (₹) Gain (%)
Stallion India Fluorochemicals 23 Jan 2025 90 374.55 316%
KRN Heat Exchanger & Refrigeration 03 Oct 2024 220 849.5 286%
Zinka Logistics Solutions (Black Buck) 22 Nov 2024 273 689.9 153%
Quality Power Electrical 24 Feb 2025 425 998.95 135%
Waaree Energies 28 Oct 2024 1,503 3,505.9 133%
Ather Energy 06 May 2025 321 722.1 125%
Diffusion Engineers 04 Oct 2024 168 369.6 120%
Aditya Infotech 05 Aug 2025 675 1,419.35 110%
Garuda Construction & Engineering 15 Oct 2024 95 197.5 107%

Source: BSE, Trendlyne

Key Trends and Insights

According to Kotak Institutional Equities, the Indian primary market in 2025 has seen significant activity, with 80 firms raising US$14 billion compared to 91 firms that raised US$19 billion in 2024. Offer-for-sale (OFS) dominated new capital in total IPO issuance.

However, market performance remains mixed: only 15% of firms achieved returns greater than 25% in 2025, down from 41% in 2024, and 38% are trading below their issue price, highlighting challenges in sustaining initial gains.

Looking Ahead: FY26 IPO Outlook

India's IPO market is expected to remain strong in FY26, with continued record fundraising and high-quality listings. Prominent upcoming IPOs from Reliance Jio, Tata Capital, and LG Electronics India are projected to drive fundraising beyond ₹1.5 trillion, with fintech, tech, and renewable energy sectors leading the charge.

Published by Bizz Buzz News | Source: BSE, Trendlyne, Kotak Institutional Equities

India IPOs 2025 multibagger stocks Waaree Energies IPO Aditya Infotech IPO Stallion India Fluorochemicals Indian stock market IPO returns FY26 IPO outlook Tata Capital IPO LG Electronics India IPO 
Next Story
Share it