IPO Reviews 2025 and Capital Market IPO Rating

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Get IPO recommendations from leading experts and brokerage houses. IPO reviews are among the most popular inputs that investor uses to apply for an IPO. Below IPO ratings are provided by various Financial Enstitutions, Independent Brokers and SEBI Registered Analysts.

<< Year 2024

2025

Year 2026 >>

IPO Reviews and Rating 2025 India

Company	Reviews	CM Rating
Beezaasan Explotech Limited
Tejas Cargo India Limited	Dilip Davda – Avoid
Royalarc Electrodes Limited	Dilip Davda – May apply
Quality Power Electrical Equipments Limited	Asit C. Mehta Investment Intermediates Ltd – Not Rated Axis Capital – Not Rated Dilip Davda – Apply JM Financial Services Limited (JMFS) – Not Rated Mehta Equities – May apply SBICAP Securities Limited – May apply
Shanmuga Hospital Limited	Dilip Davda – May apply
L.K. Mehta Polymers Limited	Dilip Davda – Avoid
Maxvolt Energy Industries Limited	Dilip Davda – Avoid
Voler Car Limited	Dilip Davda – Avoid
Hexaware Technologies Limited	Anand Rathi – Apply Ashika Research – Neutral Canara Bank Securities Ltd – Apply Capital Market – May apply Dilip Davda – Apply Indsec Securities – Apply Marwadi Shares and Finance Ltd – Apply SBICAP Securities Limited – Apply SMC Global – Neutral	46
PS Raj Steels Limited	Dilip Davda – May apply
Chandan Healthcare Limited	Dilip Davda – Apply
Ajax Engineering Limited	Anand Rathi – May apply Arihant Capital Markets Ltd – Neutral BP Equities (BP Wealth) – Apply Canara Bank Securities Ltd – Apply Canara Bank Securities Ltd – Apply Capital Market – May apply Dilip Davda – Apply Geojit Securities Ltd – Apply GEPL Capital Ltd – Not Rated KR Choksey Securities Ltd – Not Rated SMC Global – Neutral Stoxbox by BP Equities Pvt Ltd – Apply Systematix Shares and Stocks (India) Limited – Not Rated Ventura Securities Limited – Apply	47
Eleganz Interiors Limited	Dilip Davda – Apply
Solarium Green Energy Limited	Dilip Davda – Apply
Readymix Construction Machinery Limited	Dilip Davda – Avoid
Amwill Healthcare Limited	Dilip Davda – May apply
Ken Enterprises Limited	Dilip Davda – May apply
Chamunda Electrical Limited	Dilip Davda – Apply
Dr. Agarwal’s Health Care Limited	Adroit Financial Services Private Limited – Apply Anand Rathi – May apply Ashika Research – Not Rated Axis Capital – Not Rated Canara Bank Securities Ltd – Neutral Capital Market – Avoid Dilip Davda – May apply Eureka Stock & Share Broking Services Limited – Neutral Geojit Securities Ltd – May apply Mehta Equities – May apply SBICAP Securities Limited – May apply	38
Malpani Pipes And Fittings Limited	Dilip Davda – May apply
GB Logistics Commerce Limited	Dilip Davda – May apply
H.M. Electro Mech Limited	Dilip Davda – Apply
CLN Energy Limited	Dilip Davda – May apply
Denta Water and Infra Solutions Limited	Adroit Financial Services Private Limited – Apply Anand Rathi – May apply Arihant Capital Markets Ltd – May apply Axis Capital – Not Rated BP Equities (BP Wealth) – Apply Canara Bank Securities Ltd – Neutral Capital Market – May apply Dilip Davda – May apply Geojit Securities Ltd – Apply GEPL Capital Ltd – Apply Indsec Securities – Apply Marwadi Shares and Finance Ltd – Apply SBICAP Securities Limited – Apply SMIFS Limited – Apply Ventura Securities Limited – Apply	45
Rexpro Enterprises Limited	Dilip Davda – May apply
CapitalNumbers Infotech Limited	Arihant Capital Markets Ltd – Apply Choice Equity Broking Pvt Ltd – Apply Dilip Davda – May apply Miscellaneous – Apply SMIFS Limited – Apply
EMA Partners India Limited	Dilip Davda – May apply
Stallion India Fluorochemicals Limited	Canara Bank Securities Ltd – Not Rated Capital Market – Neutral Dilip Davda – Apply	40
Landmark Immigration Consultants Limited	Dilip Davda – May apply
Rikhav Securities Limited	Dilip Davda – May apply
Kabra Jewels Limited	Dilip Davda – Apply
Laxmi Dental Limited	Axis Capital – Not Rated Canara Bank Securities Ltd – Apply Capital Market – May apply Dilip Davda – Apply	45
Sat Kartar Shopping Limited	Dilip Davda – Apply
Barflex Polyfilms Limited	Dilip Davda – May apply
Avax Apparels And Ornaments Limited	Dilip Davda – Avoid Dilip Davda – May apply
B.R.Goyal Infrastructure Limited	Dilip Davda – Apply
Capital Infra Trust	Adroit Financial Services Private Limited – Apply Canara Bank Securities Ltd – May apply Dilip Davda – May apply SBICAP Securities Limited – Not Rated
Delta Autocorp Limited	Arihant Capital Markets Ltd – Apply Choice Equity Broking Pvt Ltd – Apply Dilip Davda – May apply Miscellaneous – Apply SMIFS Limited – Apply
Quadrant Future Tek Limited	Arete Securities Limited – Not Rated Axis Capital – Not Rated BP Equities (BP Wealth) – Apply Canara Bank Securities Ltd – Apply Capital Market – May apply Dilip Davda – Avoid Indsec Securities – Apply KR Choksey Securities Ltd – Apply Marwadi Shares and Finance Ltd – Apply Master Capital Services Limited – Apply Nirmal Bang – Apply SBICAP Securities Limited – Apply SMIFS Limited – Apply Ventura Securities Limited – Apply	45
Indobell Insulation Limited	Dilip Davda – Avoid
Standard Glass Lining Technology Limited	Adroit Financial Services Private Limited – Apply Arihant Capital Markets Ltd – Apply Asit C. Mehta Investment Intermediates Ltd – Not Rated Axis Capital – Not Rated BP Equities (BP Wealth) – Apply Canara Bank Securities Ltd – Apply Capital Market – May apply Dilip Davda – Apply Eureka Stock & Share Broking Services Limited – Apply Geojit Securities Ltd – Apply GEPL Capital Ltd – Apply Hem Securities – Apply Indsec Securities – Apply KR Choksey Securities Ltd – Apply Marwadi Shares and Finance Ltd – Apply Master Capital Services Limited – May apply Nirmal Bang – Apply Reliance Securities – Apply SBICAP Securities Limited – May apply SMIFS Limited – Apply Ventura Securities Limited – Apply	45
Fabtech Technologies Cleanrooms Limited	Dilip Davda – Apply
Parmeshwar Metal Limited	Dilip Davda – Apply
Davin Sons Retail Limited	Dilip Davda – May apply
Leo Dry Fruits and Spices Trading Ltd	Dilip Davda – May apply

<< Year 2024

2025

Year 2026 >>

CM Rating

Capital Market (CapitalMarket.com) IPO research team provides IPO ratings (CM Rating) for most of the IPO. They also publish the New Issue Monitor (NIM) document which provides investors with an in-depth analysis of the IPO including company background, strengths, weaknesses, valuation, financials, and ratings.

Rating Scale: Low1 – 100 High

CM Rating Detail

Rating range	Risk-return profile	Recommendation
51 or above	Low risk, moderate to High return	Must subscribe
45-50	Low risk low return or Moderate risk, moderate/high return	May subscribe
40-44	High-risk high return	Avoid, however active risk seekers can try
Below 40	High risk, low/moderate return, Moderate risk low return	Do not subscribe