Recent listings in the primary market have handsomely rewarded participants, with several companies more than doubling their value within months of debut. Data compiled by Prime Database shows that Aditya Infotech and Ather Energy lead the performance chart over the past year, sustaining strong momentum well beyond their initial public offerings.
The broader takeaway is striking. While mega issues from well-known names such as Tata Capital and LG Electronics grabbed attention with offer sizes crossing Rs 10,000 crore, it was relatively smaller technology, manufacturing and electric vehicle plays that generated sharper wealth creation. Capital appears to have chased growth visibility over brand familiarity.
8 IPOs That Delivered the Highest Returns Since Listing
These returns have come during a period when valuations for new listings have remained firm despite volatility in the broader market. The figures below compare issue price, listing day close and the latest NSE closing price as of February 18, 2026.
Aditya Infotech
Aditya Infotech moved from an offer price of Rs 675 to Rs 1,573.25 on listing, delivering a gain of 133.07% at that stage.
As of February 18, 2026, the stock closed at Rs 1,572.00 on NSE. That represents a gain of Rs 896.75 from the listing day close and Rs 897 from the issue price.
Aditya Infotech is a technology solutions provider focused on surveillance and security systems. The company supplies advanced video monitoring and enterprise security products across India.
Ather Energy
Ather Energy climbed from its offer price of Rs 321 to Rs 707.85 at listing, translating into a 120.51% gain based on listing day figures.
The stock closed at Rs 725.60 on NSE on February 18, 2026. That is Rs 17.75 higher than its listing close and Rs 404.60 above the issue price.
Ather Energy manufactures electric two-wheelers and develops in-house battery and software systems. It also operates a growing EV charging network across major Indian cities.
Belrise Industries
Belrise Industries advanced from Rs 90 at the time of issue to Rs 186.65 on listing, marking a gain of 107.39%.
On February 18, 2026, it closed at Rs 185.50 on NSE. That is Rs 1.15 below its listing day close but Rs 95.50 above its issue price.
Belrise Industries manufactures automotive components including chassis systems and precision sheet metal parts. It supplies products to leading two-wheeler and three-wheeler manufacturers.
Bharat Coking Coal
Bharat Coking Coal was issued at Rs 23 and closed its listing day at Rs 40.66, a gain of 76.78% on debut.
The stock closed at Rs 34.83 on NSE on February 18, 2026. That is Rs 5.83 below its listing close but Rs 11.83 higher than its issue price.
Bharat Coking Coal is engaged in the mining of coking coal used primarily in steel production. It operates as a key supplier to the metallurgical sector.
Quadrant Future Tek
Quadrant Future Tek had an offer price of Rs 290 and closed its listing day at Rs 448.75, resulting in a 54.74% listing gain.
As of February 18, 2026, the stock closed at Rs 308.00 on NSE. That places it Rs 140.75 below its listing close but Rs 18 above its issue price.
Quadrant Future Tek focuses on advanced manufacturing for railway and defense applications. The company works on engineered systems and specialized components.
Highway Infrastructure
Highway Infrastructure moved from an offer price of Rs 70 to a listing close of Rs 122.84, delivering a 75.49% debut gain.
On February 18, 2026, it closed at Rs 56.60 on NSE. That is Rs 66.24 below its listing close and Rs 13.40 below its issue price.
Highway Infrastructure executes road construction and EPC projects awarded by government agencies. Its shares trade on both NSE and BSE.
Meesho
Meesho was issued at Rs 111 and closed its listing day at Rs 170.20, marking a gain of 53.33% on debut.
The stock closed at Rs 156.49 on NSE on February 18, 2026. That is Rs 13.71 below its listing close but Rs 45.49 above its issue price.
Meesho operates a social commerce platform that enables small businesses and individuals to sell products online. It connects suppliers directly to customers through a reseller-driven distribution model.
Conclusion
The data from Prime Database shows a consistent pattern of strong listing day gains, particularly in technology, manufacturing and electric mobility companies. While not all stocks have sustained their listing highs, several continue to trade well above their original offer prices.
As of February 18, 2026, the comparison between issue price, listing close and current NSE price suggests that selective IPO participation has delivered significant gains over the past year, especially in emerging growth sectors.