IPO Performance: Hexaware, Denta Water among 5 IPOs of 2025 that defied stock market crash to trade above issue prices

The Indian stock market has experienced a significant downturn, with the benchmark indices, Sensex and Nifty 50, declining nearly 5% in 2025 to date. This weakness in the secondary market has also impacted the primary market, affecting investor sentiment toward new listings.

So far, only eleven mainboard companies have debuted on the Indian stock market this year. These IPOs have delivered mixed performances, reflecting the broader market volatility.

Of the 11 IPOs listed year-to-date, only five stocks are currently trading above their issue prices, while the remaining six are trading below their respective offer prices.

Here are the five IPOs currently trading above their issue prices despite prevailing weak stock market sentiment:

Quadrant Future Tek IPO

Quadrant Future Tek shares debuted on January 14 at ₹374 per share on the BSE, reflecting a 29% premium over the issue price of ₹290. On the NSE, the stock was listed at ₹370, a 27.5% premium.

Quadrant Future Tek stock extended its rally, reaching a 52-week high of ₹743.45 on February 6. However, it has since retraced and was trading around ₹490 as of February 25, remaining above both its issue price and listing price.

Capital Infra Trust IPO

Capital Infra Trust InvIT units had a flat listing at ₹99 per unit on both the NSE and BSE on January 17. As of February 25, the units were trading at ₹100, slightly above the issue price.

Denta Water and Infra Solutions IPO

Denta Water and Infra Solutions made a strong market debut on January 29, listing at ₹325 on NSE — a 10.54% premium over the issue price of ₹294. On the BSE, the stock was listed at ₹330, reflecting a 12.24% premium.

Currently, Denta Water and Infra Solutions shares are trading at ₹348, marking a gain of over 18% from its issue price.

Dr. Agarwal’s Health Care IPO

Dr. Agarwal’s Health Care shares had a muted listing on February 4, debuting at ₹402 on the NSE, matching the issue price. On the BSE, the stock opened at ₹396.90, a 1.27% discount.

Dr. Agarwal’s Health Care stock reached a high of ₹463.85 on February 13 and was trading around ₹414 on February 25, 3% above its IPO price.

Hexaware Technologies IPO

Hexaware Technologies made a modest market debut on February 19, listing at ₹745.50 on the NSE, a 5.29% premium to the issue price of ₹708. On the BSE, the stock was listed at ₹731, up 3.25% from its issue price.

Hexaware Technologies stock hit a high of ₹840.55 on February 24 and was trading around ₹824 on February 25, reflecting a 16% gain from its issue price.

Despite the broader market weakness, these five IPOs have demonstrated resilience, trading above their issue prices. While some have seen significant gains, others have maintained modest premiums despite volatile conditions. Investor sentiment remains cautious amid the ongoing market downturn, but select IPOs continue to attract interest.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.