Q1 2026 IPO review: 12 IPOs, 3 premium listings, and what the data says
We analysed every Q1 2026 NEPSE IPO — listing prices, allotment rates, sector breakdown, and which ones delivered the highest first-day return.
Aarav Shrestha
Research, LaganiLabs
Q1 2026 (January–March) saw 12 IPOs list on NEPSE, spanning hydropower, banking, insurance, and manufacturing sectors. We tracked every listing from the opening price to close on day 1 and cross-referenced allotment data from CDSC.
Summary statistics
- 12 IPOs listed in Q1 2026
- 3 listed at a premium on day 1 (>50% above offer price)
- 7 listed within ±10% of offer price
- 2 listed below offer price (Durbar Finance, Narayani Hydro)
- Average allotment rate: 1.8% across all applicants
- Highest oversubscription: Karnali Energy Ltd at 89x
Top 3 performers
Karnali Energy Ltd (hydropower) topped the charts with a 94% first-day listing gain, opening at NPR 389 against an offer price of NPR 200. Everest Insurance FPO and Himalayan Distillery IPO followed with 61% and 48% gains respectively.
All Q1 2026 IPO data is available in the LaganiLabs Market tab under IPO History. Filter by sector, allotment rate, or listing gain.
Key takeaway
The data reinforces what we have seen for years: hydropower and insurance sectors consistently produce the strongest listing gains on NEPSE. Manufacturing and trading sector IPOs continue to underperform the index on listing day.