IPOs with the highest P/E at the price band
Which IPOs came at the highest price against their latest year's profit?
36 IPOs newboard has studied give this figure in their offer documents. The median P/E at the upper band is 18.4×, and the middle half run from 14.8× to 23.4×. Orient Cables (India) is first, at 57.8× (peer median P/E 47.8×; profit growth a year 15.6%).
Ranked on 4 Oct 2026. The list moves as studies are added.
| # | Issue | Board | Stage | P/E at the upper band | Peer median P/E | Profit growth a year |
|---|---|---|---|---|---|---|
| 1 | Orient Cables (India) | Mainboard | Closed | 57.8× | 47.8× | 15.6% |
| 2 | Varmora Granito | Mainboard | Listed | 53.9× | 44× | 10.7% |
| 3 | Elevate Campuses | Mainboard | Listed | 35.1× | - | 17% |
| 4 | Shah Investor's Home | Mainboard | Closed | 26.8× | 16.3× | -14.2% |
| 5 | ArMee Infotech | Mainboard | Listed | 26.2× | 14.6× | -4.8% |
| 6 | Sollfege Smart Electronics SME | SME | Live | 25.1× | - | 11.6% |
| 7 | A-One Steels India | Mainboard | Listed | 24.7× | 45.8× | 80.9% |
| 8 | Moneyview | Mainboard | Listed | 24.7× | 33.7× | 19.1% |
| 9 | Runwal Enterprises | Mainboard | Closed | 24.1× | 33.4× | 40.8% |
| 10 | Vishal Nirmiti | Mainboard | Live | 23.2× | 14.3× | 169.2% |
| 11 | Acme Universal Safezone 9 SME | SME | Closed | 23.1× | 40.8× | -12% |
| 12 | Adroit Industries (India) | Mainboard | Listed | 23× | 13× | 34.2% |
| 13 | Sai Urja Indo Ventures SME | SME | Closed | 20.4× | 11.3× | 75.7% |
| 14 | Axiom Gas Engineering SME | SME | Closed | 20.2× | 39.8× | 28.3% |
| 15 | R.K. Fashion Accessories SME | SME | Upcoming | 20.2× | 44.3× | 157.5% |
| 16 | Nityas Gems and Jewellery | Mainboard | Live | 19.4× | 18.6× | 135.5% |
| 17 | Srit India | Mainboard | Closed | 19.3× | 18.6× | 22% |
| 18 | Eventions SME | SME | Live | 18.6× | 16.7× | 53.3% |
| 19 | Coreintegra Consulting Services SME | SME | Closed | 18.1× | 18.9× | -4.4% |
| 20 | Liqvd Digital India SME | SME | Closed | 17.7× | 11.6× | 88.9% |
| 21 | Unitec Fibres SME | SME | Closed | 16.7× | 54.1× | 1.2% |
| 22 | SJP Ultrasonics SME | SME | Live | 16.5× | - | 24.1% |
| 23 | Shree TNB Polymers SME | SME | Live | 15.9× | 15.7× | 19.1% |
| 24 | Dudani Retail SME | SME | Closed | 15.8× | 23.7× | 38.3% |
| 25 | Bench Mark Infotech Services SME | SME | DRHP filed | 15.4× | 26.6× | 162.7% |
| 26 | Swastika Infra | Mainboard | Listed | 15.2× | 12.4× | 72.1% |
| 27 | TNA Solutions SME | SME | Live | 14.9× | 39.6× | 88.8% |
| 28 | Shivchem Agro SME | SME | Closed | 14.4× | 21.5× | 58.5% |
| 29 | Pooja Logistics SME | SME | Closed | 13.3× | 9.4× | 46.7% |
| 30 | German Green Steel and Power | Mainboard | Closed | 13.1× | 22.5× | 38.5% |
| 31 | Papadmalji Agro Foods SME | SME | Closed | 13× | - | 57.3% |
| 32 | S. K. Offset SME | SME | Closed | 12.9× | - | 222.2% |
| 33 | Green Asia Impex SME | SME | Closed | 12.3× | 17.2× | 53.1% |
| 34 | Peshwa Wheat SME | SME | Closed | 12.2× | 27× | 65.9% |
| 35 | Himalayan Solar SME | SME | Closed | 11× | 8.3× | 104.4% |
| 36 | Roopa Screen SME | SME | Closed | 10.9× | 50.5× | 107.6% |
How this list is ranked
P/E at the upper end of the price band: market capitalisation after the issue over the latest full year's profit after tax, from each offer document. A high P/E can reflect a small latest-year profit as much as a high price; profit growth is shown beside it. A list ranks the issues by one figure from each offer document. It places them; it says nothing about whether any of the shares is worth owning.
More lists: the price
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