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Biggest Mainline IPO Failures in India 2023

The performance of an IPO is measured based on its price movements on the listing day. When the closing price of the IPO on the listing day is below the issue price, the IPO is said to have flopped.

The listing day is viewed as an important day for many investors who wish to make quick profits by selling the IPO shares on that day. The real demand and value of the share gets assessed on the listing day when the share becomes accessible to all who missed to buy the IPO shares or did not get an allotment.

An IPO can fail on account of many factors that may include issue with company fundamentals, management, wrong timing, incorrect valuation, lack of planning, etc. Thus, an investor should assess the company well before investing the hard earned money.

Biggest Mainline IPO Flops 2023

Issuer Company Issue Type Listing Date Issue Size Subscribed Issue Price Listing Day Price Current Price 52 Week High 52 Week Low
Udayshivakumar Infra LimitedUdayshivakumar Infra Limited IPO detailUdayshivakumar Infra Limited Share Price, Chart and TipsMainlineApr 03, 2023Rs 66.00 Cr32.49xRs 35.00Rs 31.50 (-10%)Rs 79.92 (128.34%)Rs 88.50 (Jun 25, 2024)Rs 29.00 (Jul 13, 2023)
Avalon Technologies LimitedAvalon Technologies Limited IPO detailAvalon Technologies Limited Share Price, Chart and TipsMainlineApr 18, 2023Rs 865.00 Cr2.34xRs 436.00Rs 397.45 (-8.84%)Rs 540.90 (24.06%)Rs 732.10 (Jul 14, 2023)Rs 449.25 (Aug 17, 2023)
Muthoot Microfin LimitedMuthoot Microfin Limited IPO detailMuthoot Microfin Limited Share Price, Chart and TipsMainlineDec 26, 2023Rs 960.00 Cr12.3xRs 291.00Rs 266.20 (-8.52%)Rs 239.70 (-17.63%)Rs 281.00 (Dec 26, 2023)Rs 196.60 (Mar 13, 2024)
Suraj Estate Developers LimitedSuraj Estate Developers Limited IPO detailSuraj Estate Developers Limited Share Price, Chart and TipsMainlineDec 26, 2023Rs 400.00 Cr16.57xRs 360.00Rs 334.30 (-7.14%)Rs 524.35 (45.65%)Rs 505.65 (Jun 28, 2024)Rs 255.80 (Mar 27, 2024)
IRM Energy LimitedIRM Energy Limited IPO detailIRM Energy Limited Share Price, Chart and TipsMainlineOct 26, 2023Rs 545.40 Cr27.05xRs 505.00Rs 472.95 (-6.35%)Rs 467.65 (-7.4%)Rs 641.00 (Apr 22, 2024)Rs 431.60 (Jun 05, 2024)
Updater Services LimitedUpdater Services Limited IPO detailUpdater Services Limited Share Price, Chart and TipsMainlineOct 04, 2023Rs 640.00 Cr2.96xRs 300.00Rs 283.85 (-5.38%)Rs 303.15 (1.05%)Rs 384.90 (Feb 26, 2024)Rs 235.30 (Oct 25, 2023)
Yatra Online LimitedYatra Online Limited IPO detailYatra Online Limited Share Price, Chart and TipsMainlineSep 28, 2023Rs 775.00 Cr1.66xRs 142.00Rs 135.95 (-4.26%)Rs 128.25 (-9.68%)Rs 194.00 (Feb 02, 2024)Rs 120.00 (Jun 04, 2024)
Zaggle Prepaid Ocean Services LimitedZaggle Prepaid Ocean Services Limited IPO detailZaggle Prepaid Ocean Services Limited Share Price, Chart and TipsMainlineSep 22, 2023Rs 563.38 Cr12.86xRs 164.00Rs 158.30 (-3.48%)Rs 289.60 (76.59%)Rs 389.45 (Mar 04, 2024)Rs 155.30 (Sep 22, 2023)
HMA Agro Industries LimitedHMA Agro Industries Limited IPO detailHMA Agro Industries Limited Share Price, Chart and TipsMainlineJul 04, 2023Rs 480.00 Cr1.62xRs 585.00Rs 584.75 (-0.04%)Rs 53.93 (-7.81%)Rs 84.05 (Dec 29, 2023)Rs 48.10 (Jun 04, 2024)
  • The above list represents data from 2007 till date.
  • The current market price may not be a true reflection of the IPO performance as of today as it is includes the effect of price change on account of corporate actions like stock split, bonus (if any) till date.