Best IPOs in 2022

Check out the list of Best IPOs in 2022 in India. This IPO 2022 page is intended to be a one-stop destination for all your IPO performance queries in the year. The list contains all mainboard equity IPOs listed at NSE and BSE platforms during the year.

Best IPOs in 2022

Best IPOs in 2022 with highest listing gains (mainboard, returns in %)

IPO NameListing DateIPO PriceListing1 Week4 Week6 WeekCurrent
AGS Transact1/31/2022175-8.0-9.7-42.9-39.7-48.2
Adani Wilmar2/8/202223016.666.949.070.952.0
Vedant Fashions2/16/20228667.8-1.30.210.961.8
Uma Exports4/7/20226817.411.0-24.0-16.4-29.3
Ruchi Soya4/8/202265042.147.568.487.3105.8
Veranda Learning4/11/2022137-4.210.875.634.2100.7
HariOm Pipe Industries4/13/202215351.043.127.330.9344.1
Campus Activewear5/9/202229229.811.814.79.1-3.6
Rainbow Hospitals5/10/2022542-16.9-22.4-13.0-20.699.2
LIC5/17/2022904-3.2-8.9-25.4-26.6-24.4
Prudent Corporate Advisory5/20/2022630-10.8-18.7-20.7-22.5108.6
Venus Pipes & Tubes5/24/20223268.71.20.34.3316.0
Delhivery5/24/202248710.18.95.54.2-20.0
Paradeep Phosphates5/27/2022424.55.1-10.4-2.356.7
Ethos5/30/2022878-8.5-12.3-7.8-3.7131.0
eMudhra6/1/20222560.7-0.3-1.0-1.978.8
Aether Industries6/3/202264220.622.420.633.030.5
Syrma SGS8/26/202222041.140.331.237.0149.1
DreamFolks Services9/6/202232641.830.312.123.368.7
Tamilnad Mercantile Bank9/15/2022510-0.1-3.2-8.70.93.4
Harsha Engineers9/26/202233047.432.031.924.019.5
Electronics Mart10/17/20225943.250.347.445.8278.8
Tracxn Technologies10/20/20228016.61.2-10.3-10.915.8
DCX Systems11/11/202220749.029.117.0-3.272.5
Fusion Microfinance11/15/2022368-11.7-7.16.3-2.454.9
Bikaji Foods11/16/20223005.814.930.135.181.8
Global Health11/16/202233623.634.234.136.8172.9
Five Star Business Finance11/21/20224743.45.425.527.757.9
Archean Chemical Industries11/21/202240712.632.625.429.136.0
Kaynes Technology11/22/202258717.525.019.425.8320.8
Inox Green Energy11/23/202265#N/A#N/A#N/A#N/A#N/A
Keystone Realtors11/24/20225412.90.0-8.5-3.31.3
Dharmaj Crop Guard12/8/202223712.4-1.5-15.2-19.813.7
Uniparts12/12/2022577-6.51.4-4.3-5.6-7.0
Sula Vineyards12/22/2022357-7.2-9.517.80.529.6
Abans Holdings12/23/2022270#N/A#N/A#N/A#N/A#N/A
Landmark Cars12/23/2022506-9.4-8.322.621.646.8
KFin Technologies12/29/2022366-0.6-5.1-13.6-13.443.7
Elin Electronics12/30/2022247-7.8-10.1-15.5-23.2-38.7

*Figures marked as NA are yet to be updated

#1 HariOm Pipe Industries – First among best IPOs in 2022

An integrated manufacturer of Mild Steel (MS) Pipes, Scaffolding, HR Strips, MS Billets, and Sponge Iron, HariOm Pipe Industries caters to the southern and western Indian markets. The company manufactures MS Pipes and Scaffoldings of more than 150 different specifications and caters, directly and indirectly, to customer requirements in various sectors such as housing, infrastructure, agriculture, automotive, power, cement, mining, solar power and engineering. HariOm Pipe is among the best IPOs in 2022 in terms of listing gains and it also rewarded investors post listing, eventually doubling from IPO price.

Revenue FY 2021 – INR 254.8 crore
Net Income FY 2021 – INR 15.1 crore
Net Margin FY 2021 – 5.9%
ROCE – 21.38%

#2 DCX Systems

Headquartered in Bengaluru, Karnataka, DCX Systems is engaged in manufacturing electronic sub-systems and cable harnesses. It is a fast-growing company serving the Indian Defense Sector. DCX Systems is a reputed Indian Offset Partner for ELTA Systems Limited, Israel Aerospace Industries Limited, System Missiles, and Space Division. While among the top IPOs in 2022, its post-listing performance wasn’t good as it slid close to IPO levels.

Revenue FY 2022 – INR 1,124.33 crore
Net Income FY 2022 – INR 65.61 crore
Net Margin FY 2022 – 5.84%
ROCE – 13.15%

#3 Harsha Engineers

Harsha Engineers is the largest manufacturer of precision bearing cages in organized sector in India in terms of capacity and operations and has a global market share of approximately 5-6% in the organized segment of the global brass, steel and polyamide bearing cages market in terms of revenue. The company holds more than 50% of the market share in the Indian bearing cages market in the organized segment for brass, steel and polyamide cages. Harsha Engineers also manufactures complex and specialised precision stamped components for automotive and industrial customers. The company has entered into arrangements to stock inventory in warehouses spread across more than 15 locations across the world including in, Europe, US, China and South America.

Revenue FY 2022 – INR 1,331.5 crore
Net Income FY 2022 – INR 93.4 crore
Net Margin FY 2022 – 7.1%
ROCE – 23%

#4 Electronics Mart

The company is India’s 4th largest consumer durable and electronics retailer with dominance in the states of Telangana and Andhra Pradesh. It has been one of the fastest growing consumer durable & electronics retailers in India with a revenue CAGR of 25.60% from Financial Year 2015 to Financial Year 2020. As on 15 August 2021, the company had 99 stores across 31 cities. The company offers a diversified range of products with focus on large appliances (air conditioners, televisions, washing machines and refrigerators), mobiles and small appliances, IT and others.

Revenue FY 2022 – INR 4,349.3 crore
Net Income FY 2022 – INR 104.6 crore
Net Margin FY 2022 – 2.40%
ROCE – 17.42%

#5 Ruchi Soya

As one of the largest FMCG companies in Indian edible oil sector, Ruchi Soya finds a place among the top IPOs in 2022. The company is present across the entire value chain in palm and soya segment, with a healthy mix of upstream and downstream business. The company is also into the wind power generation business, where the renewable power generated is used for sale and for captive use. As on 31 December 2020, it generated wind power at a total aggregate amount of 85.2 MW across eleven locations and six states.

Revenue FY 2021 – INR 16,383 crore
Net Income FY 2021 – INR 680.8 crore
Net Margin FY 2021 – 4.2%
ROCE – 11.07%

#6 DreamFolks Services

DreamFolks is India’s largest airport service aggregator platform facilitating an enhanced airport experience to passengers. Its asset-light business model facilitates access to 100% of the 54 lounges currently operational in India, and also enjoyed a market share of over 95% of all India issued credit card and debit card (Card Based) access to airport lounges in FY 2022. Additionally, in Fiscal 2022 it also accounted for around 68% of the overall lounge access volume in India. As at 31 March 2022, it has a global footprint extending to 1,416 touch-points in 121 countries across the world through partnerships with other service providers.

Revenue FY 2022 – INR 282.5 crore
Net Income FY 2022 – INR 16.6 crore
Net Margin FY 2022 – 5.9%
ROCE – 23.99%

#7 Syrma SGS

Syrma SGS is a technology-focussed engineering and design player and is one of the fastest growing Indian-headquartered ESDM companies. The company is engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries, including industrial appliances, automotive, healthcare, consumer products and IT industries. It is one of the leading PCBA manufacturers in India, supplying to various OEMs and assemblers in the market. The company is also amongst the top key global manufacturers of custom RFID tags.

Revenue FY 2022 – INR 1,032.4 crore
Net Income FY 2022 – INR 56.5 crore
Net Margin FY 2022 – 5.5%
ROCE – 19.1%

#8 Campus Activewear – Sustained Listing Gains

Campus Shoes is the largest sports and athleisure footwear brand in India in terms of value and volume in Fiscal 2021. It had approximately 15% market share in the branded sports and athleisure footwear industry in India by value for Fiscal 2020, which increased to approximately 17% in Fiscal 2021. The company had over 400 distributors directly servicing and fulfilling orders of over 18,200 geographically mapped retailers at a pan-India level as on September 30, 2021. This entry among the best IPOs in 2022 also it also sustained listing gains in subsequent sessions.

Revenue FY 2021 – INR 715.1 crore
Net Income FY 2021 – INR 26.9 crore
Net Margin FY 2021 – 3.8%
ROCE – 18.54%

#9 Global Health

Global Health is one of the largest private multi-specialty tertiary care providers operating in the North and East regions of India in terms of bed capacity and operating revenues amongst the players that operate in the North and East regions of India, as of and for the financial year ended 31 March 2022, with key specialties of cardiology and cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, and kidney and urology. As at 30 June 2022, it provides healthcare services in over 30 medical specialties and engage over 1,300 doctors led by experienced department heads and, spanning an area of 4.7 million sq. ft., its operational hospitals have 2,467 installed beds.

Revenue FY 2022 – INR 2,166.6 crore
Net Income FY 2022 – INR 196.2 crore
Net Margin FY 2022 – 9.06%
ROCE – 12.14%

#10 Aether Industries

Aether Industries is a specialty chemical manufacturer focused on producing advanced intermediates and specialty chemicals involving complex and differentiated chemistry and technology core competencies. As of 30 September 2021, its product portfolio comprised over 22 products. Aether Industries is the sole manufacturer in India of 4MEP, MMBC, T2E, OTBN, NODG, DVL and Bifenthrin Alcohol, and was among the largest manufacturers in the world by volume for 4MEP, T2E, NODG and HEEP.

Revenue FY 2021 – INR 453.8 crore
Net Income FY 2021 – INR 71.1 crore
Net Margin FY 2021 – 15.7%
ROCE – 21.72%

Best IPOs in 2022 in Numbers

Total listings: 39
Positive listings: 24
Negative listings: 15
Average listing day return: 10.4%

We hope this IPO 2022 list has been helpful to you. Similar to this list of best IPOs in 2022, we have compiled data for other years. Here are some quick links to help you in navigating mainboard IPOs on this site:

List of mainboard IPOs in 2023
List of mainboard IPOs in 2021
List of mainboard IPOs in 2020
List of mainboard IPOs in 2019
List of mainboard IPOs in 2018
List of mainboard IPOs in 2017
List of mainboard IPOs in 2016

In case you are interested in SME IPOs, here are some quick links:

List of SME IPOs in 2023
List of SME IPOs in 2022
List of SME IPOs in 2021
List of SME IPOs in 2020
List of SME IPOs in 2019
List of SME IPOs in 2018
List of SME IPOs in 2017

Don’t forget to check IPO Grey Market and Discussion section on our site to see how other investors on Dalal Street are receiving the current IPOs. A look at the past performance of IPOs is also helpful in identifying best performing IPOs. In case you are struggling to keep yourself updated about dates of upcoming IPOs, check our IPO Calendar.

IPO Grey Market IPO GMP

If you are a regular reader of IPO Central, you already know the best IPOs in 2022 and that we do all the leg work like pulling out data from SEBI and lead managers’ websites. However, in case you are interested in knowing more and picking top IPOs in 2022 through your own research, here are some of our best articles to help you.

Best IPOs in 5 years

At this point, we would also like to add a disclaimer.

No content on this website should be treated as an investment advice. The idea behind this website is to spread financial literacy and to solicit discussion in our comments section. Please consult your financial advisor and undertake your due diligence before making any financial decision. In no way or circumstances, IPO Central will be responsible for your financial decisions. While we try to remain completely objective in our analysis and reviews, readers are responsible for the outcome of the decisions they take.

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