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![Anvith_ Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::2414532469.png) The Indian Investor [@Anvith_](/creator/twitter/Anvith_) on x 19.4K followers
Created: 2025-07-23 16:07:34 UTC

Best Performing IPOs of the Last X Years
(Returns as of 2025 – did you ride these multibaggers?)

Let’s decode year-wise IPO stars 🔍👇

🔹 2024 – KRN Heat
🎯 Gain: +286%
A niche industrial play riding on defence & EV capex.
Precision engineering + margin expansion = sharp re-rating.

🔹 2021 – IRFC
🎯 Gain: +415%
India’s railway financing arm surprised everyone with massive re-rating.
PSU tag didn’t stop the compounding.

🔹 2022 – Kaynes Tech
🎯 Gain: +897% 🚀
India’s EMS champion.
Perfect storm: capex, chip tailwinds, Make-in-India + early mover edge in design-led EMS.
Truly a generational wealth creator.

🔹 2023 – IREDA
🎯 Gain: +392%
Government’s green energy financing arm.
Caught the renewable finance wave just right.
Strong institutional interest + policy tailwinds = dream combo.

🔹 2025 – Quality Power
🎯 Gain: +108%
Still early innings.
Smart infra + T&D cycle could make it the next dark horse.
Execution holds the key.

🚫 No Recommendation.

![](https://pbs.twimg.com/media/GwjfTMMbMAAya6M.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948052377665204653/c:line.svg)

**Related Topics**
[$6753t](/topic/$6753t)
[defence](/topic/defence)
[ipo](/topic/ipo)
[ipos](/topic/ipos)
[investment](/topic/investment)

[Post Link](https://x.com/Anvith_/status/1948052377665204653)