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Biggest IPO Failures in India 2022

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 IPO Flops 2022

Issuer Company Issue Type Listing Date Issue Size Subscribed Issue Price Listing Day Price Current Price 52 Week High 52 Week Low
Bhatia Colour Chem LimitedBhatia Colour Chem Limited IPO detailBhatia Colour Chem Limited Share Price, Chart and TipsSMEMar 24, 2022Rs 40.00 Cr1.43xRs 80.00Rs 42.00 (-47.5%)Rs 49.00 (-38.75%)Rs 63.00 (Sep 22, 2023)Rs 41.90 (Jul 12, 2023)
Swastik Pipe LimitedSwastik Pipe Limited IPO detailSwastik Pipe Limited Share Price, Chart and TipsSMEOct 12, 2022Rs 62.52 Cr1.35xRs 100.00Rs 69.30 (-30.7%)Rs 78.70 (-21.3%)
Reetech International Cargo and Courier LtdReetech International Cargo and Courier Ltd IPO detailReetech International Cargo and Courier Ltd Share Price, Chart and TipsSMEOct 10, 2022Rs 11.71 Cr1.67xRs 105.00Rs 83.60 (-20.38%)Rs 50.39 (-52.01%)Rs 68.00 (May 10, 2023)Rs 36.90 (Nov 17, 2023)
Abans Holdings LimitedAbans Holdings Limited IPO detailAbans Holdings Limited Share Price, Chart and TipsMainlineDec 23, 2022Rs 345.60 Cr1.1xRs 270.00Rs 216.05 (-19.98%)Rs 423.60 (56.89%)Rs 355.50 (Jan 15, 2024)Rs 210.00 (Apr 05, 2023)
Rainbow Children's Medicare LimitedRainbow Children's Medicare Limited IPO detailRainbow Children's Medicare Limited Share Price, Chart and TipsMainlineMay 10, 2022Rs 1580.85 Cr12.43xRs 542.00Rs 450.10 (-16.96%)Rs 1,461.55 (169.66%)Rs 1,487.65 (Feb 28, 2024)Rs 725.00 (Apr 12, 2023)
Moxsh Overseas Educon LimitedMoxsh Overseas Educon Limited IPO detailMoxsh Overseas Educon Limited Share Price, Chart and TipsSMEDec 30, 2022Rs 10.42 Cr100.44xRs 153.00Rs 127.85 (-16.44%)Rs 120.00 (-21.57%)
Silver Pearl Hospitality & Luxury Spaces LtdSilver Pearl Hospitality & Luxury Spaces Ltd IPO detailSilver Pearl Hospitality & Luxury Spaces Ltd Share Price, Chart and TipsSMEJun 17, 2022Rs 9.00 Cr1.68xRs 18.00Rs 15.20 (-15.56%)Rs 8.60 (-52.22%)Rs 12.35 (Jan 19, 2024)Rs 7.35 (Oct 20, 2023)
Naturo Indiabull LimitedNaturo Indiabull Limited IPO detailNaturo Indiabull Limited Share Price, Chart and TipsSMESep 02, 2022Rs 10.92 Cr20.26xRs 30.00Rs 26.25 (-12.5%)Rs 13.35 (-55.5%)Rs 19.71 (Aug 18, 2023)Rs 10.50 (Jul 10, 2023)
KCK Industries LimitedKCK Industries Limited IPO detailKCK Industries Limited Share Price, Chart and TipsSMEJul 08, 2022Rs 4.50 Cr5.91xRs 30.00Rs 26.25 (-12.5%)Rs 106.20 (254%)
Dipna Pharmachem LimitedDipna Pharmachem Limited IPO detailDipna Pharmachem Limited Share Price, Chart and TipsSMESep 08, 2022Rs 15.21 Cr2.77xRs 38.00Rs 33.40 (-12.11%)Rs 9.06 (-76.16%)Rs 24.13 (Sep 08, 2023)Rs 8.00 (Apr 16, 2024)
Evoq Remedies LimitedEvoq Remedies Limited IPO detailEvoq Remedies Limited Share Price, Chart and TipsSMEMar 30, 2022Rs 9.72 Cr1.67xRs 27.00Rs 23.75 (-12.04%)Rs 10.53 (-61%)Rs 19.44 (Jan 11, 2024)Rs 8.50 (Mar 28, 2024)
Fusion Micro Finance LimitedFusion Micro Finance Limited IPO detailFusion Micro Finance Limited Share Price, Chart and TipsMainlineNov 15, 2022Rs 1103.99 Cr2.95xRs 368.00Rs 324.90 (-11.71%)Rs 536.35 (45.75%)Rs 691.00 (Aug 01, 2023)Rs 395.00 (Apr 17, 2023)
Prudent Corporate Advisory Services LimitedPrudent Corporate Advisory Services Limited IPO detailPrudent Corporate Advisory Services Limited Share Price, Chart and TipsMainlineMay 20, 2022Rs 538.61 Cr1.22xRs 630.00Rs 562.70 (-10.68%)Rs 1,631.20 (158.92%)Rs 1,449.00 (Feb 21, 2024)Rs 793.20 (Apr 10, 2023)
Dollex Agrotech LimitedDollex Agrotech Limited IPO detailDollex Agrotech Limited Share Price, Chart and TipsSMEDec 28, 2022Rs 24.39 Cr1.88xRs 35.00Rs 31.50 (-10%)Rs 44.90 (28.29%)
Landmark Cars LimitedLandmark Cars Limited IPO detailLandmark Cars Limited Share Price, Chart and TipsMainlineDec 23, 2022Rs 552.00 Cr3.06xRs 506.00Rs 460.05 (-9.08%)Rs 783.55 (54.85%)Rs 905.00 (Feb 07, 2024)Rs 535.85 (Apr 05, 2023)
Inox Green Energy Services LimitedInox Green Energy Services Limited IPO detailInox Green Energy Services Limited Share Price, Chart and TipsMainlineNov 23, 2022Rs 740.00 Cr1.55xRs 65.00Rs 59.10 (-9.08%)Rs 140.95 (116.85%)Rs 149.65 (Jan 04, 2024)Rs 38.40 (Apr 13, 2023)
Ethos LimitedEthos Limited IPO detailEthos Limited Share Price, Chart and TipsMainlineMay 30, 2022Rs 472.29 Cr1.04xRs 878.00Rs 802.60 (-8.59%)Rs 2,342.55 (166.81%)Rs 3,044.00 (Mar 11, 2024)Rs 955.00 (Apr 03, 2023)
AGS Transact Technologies LtdAGS Transact Technologies Ltd IPO detailAGS Transact Technologies Ltd Share Price, Chart and TipsMainlineJan 31, 2022Rs 680.00 Cr7.79xRs 175.00Rs 161.30 (-7.83%)Rs 74.02 (-57.7%)Rs 126.75 (Jan 29, 2024)Rs 46.90 (Apr 03, 2023)
Elin Electronics LimitedElin Electronics Limited IPO detailElin Electronics Limited Share Price, Chart and TipsMainlineDec 30, 2022Rs 475.00 Cr3.09xRs 247.00Rs 227.80 (-7.77%)Rs 168.00 (-31.98%)Rs 194.35 (Oct 13, 2023)Rs 121.50 (Apr 03, 2023)
Life Insurance Corporation of India (LIC)Life Insurance Corporation of India (LIC) IPO detailLife Insurance Corporation of India (LIC) Share Price, Chart and TipsMainlineMay 17, 2022Rs 21008.48 Cr2.95xRs 949.00Rs 875.45 (-7.75%)Rs 979.00 (3.16%)Rs 1,175.00 (Feb 09, 2024)Rs 537.60 (Apr 03, 2023)
Sula Vineyards LimitedSula Vineyards Limited IPO detailSula Vineyards Limited Share Price, Chart and TipsMainlineDec 22, 2022Rs 960.35 Cr2.33xRs 357.00Rs 331.15 (-7.24%)Rs 548.10 (53.53%)Rs 699.00 (Jan 09, 2024)Rs 350.65 (Apr 11, 2023)
Healthy Life Agritec LimitedHealthy Life Agritec Limited IPO detailHealthy Life Agritec Limited Share Price, Chart and TipsSMEJul 26, 2022Rs 10.00 Cr8.21xRs 10.00Rs 9.34 (-6.6%)Rs 9.21 (-7.9%)Rs 8.38 (May 02, 2024)Rs 3.47 (Mar 15, 2024)
Uniparts India LimitedUniparts India Limited IPO detailUniparts India Limited Share Price, Chart and TipsMainlineDec 12, 2022Rs 835.61 Cr25.32xRs 577.00Rs 539.55 (-6.49%)Rs 545.55 (-5.45%)Rs 722.65 (Aug 04, 2023)Rs 500.00 (Mar 13, 2024)
Kandarp Digi Smart BPO LtdKandarp Digi Smart BPO Ltd IPO detailKandarp Digi Smart BPO Ltd Share Price, Chart and TipsSMESep 28, 2022Rs 8.10 Cr1.84xRs 30.00Rs 28.50 (-5%)Rs 31.20 (4%)
Rhetan TMT LimitedRhetan TMT Limited IPO detailRhetan TMT Limited Share Price, Chart and TipsSMESep 05, 2022Rs 56.00 Cr1.47xRs 70.00Rs 66.50 (-5%)Rs 10.85 (-84.5%)Rs 13.25 (May 10, 2023)Rs 7.30 (Aug 21, 2023)
Veerkrupa Jewellers LimitedVeerkrupa Jewellers Limited IPO detailVeerkrupa Jewellers Limited Share Price, Chart and TipsSMEJul 18, 2022Rs 8.10 CrRs 27.00Rs 25.65 (-5%)Rs 1.47 (-94.56%)Rs 5.43 (May 05, 2023)Rs 1.20 (Dec 21, 2023)
Fone4 Communications (India) LimitedFone4 Communications (India) Limited IPO detailFone4 Communications (India) Limited Share Price, Chart and TipsSMEMay 06, 2022Rs 6.80 Cr14.75xRs 10.00Rs 9.50 (-5%)Rs 5.98 (-40.2%)Rs 7.60 (Jan 09, 2024)Rs 3.10 (Jul 31, 2023)
Swaraj Suiting LimitedSwaraj Suiting Limited IPO detailSwaraj Suiting Limited Share Price, Chart and TipsSMEMar 28, 2022Rs 10.68 Cr12.13xRs 56.00Rs 53.20 (-5%)Rs 213.75 (281.7%)
Richa Info SystemsRicha Info Systems IPO detailRicha Info Systems Share Price, Chart and TipsSMEFeb 21, 2022Rs 10.00 Cr5.05xRs 125.00Rs 118.75 (-5%)Rs 91.90 (-26.48%)
Global Longlife Hospital and Research LimitedGlobal Longlife Hospital and Research Limited IPO detailGlobal Longlife Hospital and Research Limited Share Price, Chart and TipsSMEMay 04, 2022Rs 49.00 Cr1.5xRs 140.00Rs 135.35 (-3.32%)Rs 41.38 (-70.44%)Rs 61.70 (Jan 04, 2024)Rs 36.25 (Nov 22, 2023)
Cool Caps Industries LimitedCool Caps Industries Limited IPO detailCool Caps Industries Limited Share Price, Chart and TipsSMEMar 24, 2022Rs 11.63 Cr7.91xRs 38.00Rs 37.65 (-0.92%)Rs 440.00 (1057.89%)
KFin Technologies LimitedKFin Technologies Limited IPO detailKFin Technologies Limited Share Price, Chart and TipsMainlineDec 29, 2022Rs 1500.00 Cr2.59xRs 366.00Rs 364.00 (-0.55%)Rs 786.25 (114.82%)Rs 731.65 (Feb 26, 2024)Rs 276.10 (Apr 11, 2023)
Tamilnad Mercantile Bank LimitedTamilnad Mercantile Bank Limited IPO detailTamilnad Mercantile Bank Limited Share Price, Chart and TipsMainlineSep 15, 2022Rs 807.84 Cr2.86xRs 510.00Rs 508.45 (-0.3%)Rs 479.10 (-6.06%)Rs 611.35 (Sep 11, 2023)Rs 399.00 (Apr 10, 2023)
  • 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.