FY26 was a challenging year for the primary equity market, with most initial public offerings (IPOs) failing to earn returns since listing till March 31 amid heightened volatility. While geopolitical tensions in West Asia and weakening rupee amid the exodus of foreign investors affected the overall equity performance, there were a select few IPOs that managed to stay in the green. Of the 109 mainboard IPOs that were listed in FY26, 32 or one out of three IPOs posted positive returns while 16 IPOs yielded double-digit returns over the listing price. This also implies that by and large, the primary equity market did not earn returns after listing. Among the top gainers were electric bikes maker Ather Energy (139% return), auto ancillary manufacturer Belrise Industries (98%), and Aditya Infotech (78%), which provides video surveillance solutions. SOURCE: Economic Times
