These 10 IPOs changed the fortunes of investors, money doubled after listing!

These 10 IPOs have doubled their money since listing

The primary market of the Indian stock market is currently witnessing tremendous growth. It seems as if every week some new company is coming up with its IPO (Initial Public Offering) and investors are also investing heavily in them. In the last quarter alone, a record number of 46 companies had IPOs, which is a record in itself.

The figures for the first half of the current financial year (FY26) are also very shocking. In these six months, 55 companies have raised about ₹ 64,920 crore through IPO. This shows that companies need capital for their expansion and investors are also ready to believe in India’s growth story.

IPO out in the market, investors showed strength

The enthusiasm of investors is worth seeing, whether they are retail investors or big institutional investors. The recent IPO of LG Electronics India received more than 54 times subscription, which is a living proof of this interest.

But the biggest question that arises here is whether bumper subscription of an IPO is a guarantee that it will give huge profits to the investors even after listing? It is often seen that the much talked about IPOs perform well on the day of listing but disappoint investors in the long run.

So, let us look at those companies which not only gave good listing but also gave excellent profits to the investors even after listing. We have included IPOs from October 2024 till now in this analysis.

These are the real ‘jugglers’, who doubled the money

Beyond the subscription figures, the real performance starts after listing on the stock exchange. Here is a list of 10 companies that have given extraordinary returns to their investors ranging from 90% to 360% since listing.

Why did the shares of these companies run away?

The brightest name in this list is that of Stallion India Fluorochemicals, which has surprised its investors and given returns of more than 360%. This means that if someone had invested ₹ 1 lakh in this IPO, its value today would have been more than ₹ 4.6 lakh. The reason behind this growth of the company is the rapid growth of fluorochemicals market in India, which is expected to grow at the rate of 10.2% annually by 2029. The partnership with Honeywell has given the company the advantage of being a ‘first-mover’ in the HFO segment.

At second place is KRN Heat Exchanger & Refrigeration (280% return). The company is a leader in India’s growing HVAC (heating, ventilation and air conditioning) sector. This sector is estimated to reach $27.4 billion by 2030. The company has also received an incentive of ₹141.72 crore from the ‘Make in India’ (PLI) scheme, which is a big plus point for its future.

Waaree Energies (141% return), which is making waves in solar energy, also did not disappoint the investors. The company’s profits have increased by 132% and it has a huge order book of ₹47,000 crore. Along with India, it has also received new orders of 2.23 GW from America, which shows its global hold.

From EV to retail, strength is visible in every sector

One of the most talked about IPOs of this year, Ather Energy (114% return) is also in this list. It has become India’s third largest electric two-wheeler company with 17% market share by September 2025. The recently launched ‘Rizta’ family scooter has taken it to new customers.

Vishal Mega Mart (90% return) has also performed brilliantly in the retail sector. Its focus is on affordable and need-based goods, which have strong demand in smaller cities (Tier I to Tier III).

At the same time, security and surveillance sector giant Aditya Infotech (105% return) has also given returns of more than double its issue price. The company is now strengthening its technological capability globally by opening a new R&D unit in Taiwan.