Ather Energy and 4 other IPOs of 2025 that delivered returns of up to 137% YTD to keep on your radar

The 2025 IPO season went great for investors, as we saw several stocks delivering returns of up to 128 percent, which is more than double what investors had initially invested.

In 2025 so far, the Indian mainboard IPO market has been buzzing with activity, with over 100 companies making their debut. Of these, around 62 delivered impressive listing gains, rewarding investors right from day one. On the flip side, more than 18 IPOs debuted below their issue price, serving as a reminder that smart selection remains key in IPO investing. In this article we spotlight the top 5 IPOs of 2025 that stole the show and generated stellar returns for shareholders.

Stallion India Fluorochemicals

With a market capitalization of Rs. 1,618.24 crore, the shares of Stallion India Fluorochemicals on Tuesday opened at Rs. 201.60 per equity share, down nearly 0.12 percent from its previous day’s close price of Rs. 201.35.

Stallion India Fluorochemicals was listed on the BSE and NSE on Jan 23, 2025, with an IPO size of Rs. 199.45 crores. The IPO was a combination of a fresh issue of Rs.160.73  crores and an offer for sale of Rs. 38.72  crores.

Stallion India Fluorochemicals launched IPO with an issue price of Rs. 90. It was listed at a price of Rs. 120, which is 33.34 percent higher than the allotment price. Since its listing date, the stock today opened at Rs. 201.60, delivering a return of 124 percent.

Incorporated in 2002, Stallion India Fluorochemicals Limited is engaged in the business of selling Refrigerant and Industrial Gases and related products. The company’s primary business includes debulking, blending & processing refrigerant and Industrial gases, and selling of pre-filled cans and small Cylinders / Containers.

Aditya Infotech Ltd

With a market capitalization of Rs. 18,560.95 crore, the shares of Aditya Infotech Ltd on Tuesday opened at Rs. 1,600 per equity share, up by 0.17 percent from its previous day’s close price of Rs. 1,597.15

Aditya Infotech Ltd was listed on the BSE and NSE on August 5th, 2025, with an IPO size of Rs.1,300 crores. The IPO was a combination of a fresh issue of Rs.500.36  crores and an offer for sale of Rs. 799.64  crores.

Aditya Infotech Limited had an IPO with an issue price of Rs. 675. It was listed at a price of Rs.1,018, which is 50.81 percent higher than the allotment price. Since its listing date, the stock today opened at Rs. 1,600, delivering a return of 137 percent. Aditya Infotech Limited (AIL) manufactures and provides video security and surveillance products, solutions and services under the brand name ‘CP Plus’.

The company offers a diverse range of products including smart home IoT cameras, HD analog systems, advanced network cameras, body-worn and thermal cameras, as well as long-range IR cameras, and AI-powered solutions.

Ather Energy Ltd

With a market capitalization of Rs. 26,315.20 crore, the shares of Ather Energy Ltd on Tuesday opened at Rs. 694.80 per equity share, down nearly 0.57 percent from its previous day’s close price of Rs. 698.80.

Ather Energy Ltd was listed on the BSE and NSE on May 6, 2025, with an IPO size of Rs.2,980.76 crores. The IPO was a combination of a fresh issue of Rs.2,626.04  crores and an offer for sale of Rs. 354.73 crores.

Ather Energy Ltd launched IPO with an issue price of Rs. 321. It was listed at a price of Rs. 328, which is 2.18 percent higher than the allotment price. Since its listing date, the stock today Opened at Rs. 694.80, delivering a return of 116.44 percent.

Ather Energy Limited, incorporated in 2013, is an Indian electric two-wheeler (E2W) company engaged in the design, development, and in-house assembly of electric scooters, battery packs, charging infrastructure, and supporting software systems. The company operates as a vertically integrated EV manufacturer with a focus on product and technology development.

Belrise Industries Ltd

With a market capitalization of Rs. 15,630.73 crore, the shares of Belrise Industries Ltd on Tuesday opened at Rs. 161.20 per equity share, up nearly 1.67 percent from its previous day’s close price of Rs. 158.65. Belrise Industries Ltd was listed on the BSE and NSE on May 28, 2025, with an IPO size of Rs. 2,150 crores. The IPO was an entirely fresh issue of 23.89 crore shares.

Belrise Industries Ltd had an IPO with an issue price of Rs. 90. It was listed at a price of Rs. 98.50, which is 9.44 percent higher than the allotment price. Since its listing date, the stock today opened  at Rs. 161.20, delivering a return of 79.11 percent.

Incorporated in 1988, Belrise Industries Limited manufactures Automotive Sheet Metal and casting parts, Polymer components, Suspension, and mirror systems specifically for Two-Wheel, Three-Wheel, and Four-Wheel Passenger and Commercial vehicles.The company is an automotive component manufacturing company in India offering a diverse range of safety critical systems.

Jain Resource Recycling Ltd

With a market capitalization of Rs. 14,714.46 crore, the shares ofJain Resource Recycling Ltd on Tuesday opened at Rs. 422.35 per equity share, up nearly 0.53 percent from its previous day’s close price of Rs. 420.10.

Jain Resource Recycling Ltd was listed on the BSE and NSE on Oct 1, 2025, with an IPO size of Rs.1,250 crores. The IPO was a combination of a fresh issue of Rs. 500  crores and an offer for sale of Rs. 750 crores.

Jain Resource Recycling Ltd had an IPO with an issue price of Rs. 232. It was listed at a price of Rs. 265, which is 39.22 percent higher than the allotment price. Since its listing date, the stock today opened at Rs. 422.35, delivering a return of 82 percent.

Incorporated in 2022, Jain Resource Recycling Limited is engaged in the recycling and manufacturing of non-ferrous metal products. Its product portfolio includes lead and lead alloy ingots, copper and copper ingots, and aluminium and aluminium alloys.

The company operates three recycling facilities located at SIPCOT Industrial Estate, Gummidipoondi, Chennai. These facilities process various types of metal scrap, including copper (birch, druid), lead (radio, relay, rains, rinks), and aluminium (tread, talon, tense). A gold refining facility in Sharjah Airport International Free Zone (SAIF-Zone), UAE, through its subsidiary JIGV.

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