3 IPOs that made investors’ portfolios richer in 2026

However, a select group of stocks has continued to rally well beyond their initial listing gains.

The Multibaggers of 2026

Omnitech Engineering has emerged as the biggest winner among the IPOs in the data. Listed on March 5, 2026, the stock had an LTP of Rs 586.5, compared with its IPO issue price of Rs 227. This translates into a 158.4 per cent gain from the issue price.

SEDEMAC Mechatronics, which listed on March 11, 2026, comes next. Its shares were issued at Rs 1,352 apiece and have since climbed to Rs 3,059.8, delivering a 126.3 per cent return from the issue price.

Shadowfax Technologies, which made its debut on January 28, 2026, completes the multibagger trio. The stock was issued at Rs 124 and was trading at Rs 248.3, representing a 100.2 per cent gain from the IPO price.

For investors, the bigger question now is whether these multibagger gains can be sustained or whether the stocks have already priced in much of their future growth.

Harshal Dasani, business head at INVasset PMS, believes that the gains can sustain only if earnings now catch up with the price, because once a stock has more than doubled from its IPO level, the issue price stops being a useful valuation anchor.

The encouraging part, Dasani said, is that Omnitech Engineering, SEDEMAC Mechatronics and Shadowfax have all shown strong growth momentum, so the rerating is not purely liquidity-driven. “But a large part of the future growth is now embedded in valuations. From here, execution becomes the real test,” said Dasani.

Among the three, Dasani prefers Omnitech on risk-reward, followed by SEDEMAC on business quality. “Omnitech currently offers the most balanced risk-reward, while SEDEMAC remains the stronger business on quality. Omnitech’s recent growth has come with margin expansion and operating leverage, giving it a cleaner earnings trajectory after the IPO rerating,” said Dasani.

From a technical point of view, Ravi Singh, Chief Research Officer at MasterTrust, said that Shadowfax Technologies and SEDEMAC Mechatronics both remain firmly bullish, consistently forming higher highs and higher lows. This indicates sustained buying interest and strong price structure. “While sharp gains warrant monitoring of valuations, the combination of earnings growth, sectoral tailwinds and resilient charts keeps the medium-term outlook positive,” said Singh.

Market Braces For A Busy IPO Run

The IPO pipeline remains strong, with 171 companies, including Hero FinCorp, Zepto, Indira IVF Hospital and InCred Holdings, having received Sebi approval to launch their public issues. Collectively, these companies are estimated to raise Rs 1.08 lakh crore from the markets, according to Prime Database.

Another 71 companies have filed their draft papers with Sebi to raise Rs 1,91,590 crore through their IPOs. Some of the marquee names in the pipeline include Jio Platforms, National Stock Exchange of India, PhonePe and Muthoot FinCorp.

Analysts suggest that the pace of fundraising in the primary market will largely depend on the performance of the secondary markets over the next few months. Sustained gains in equities and the potential for strong listing gains in IPOs, they believe, could support investor appetite for new issues.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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