IPO Watch: July was the ASX's busiest IPO month in 2026 with 10 floats and two triple-digit baggers

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July was the busiest month of the year so far for new listings, with ten debuts pushing the year-to-date count to 29. It also marked one of the most diverse sets of companies, spanning classic base and critical metal explorers, as well as software, medtech, construction and an AI fund.July IPOs at a glanceThe average new listing gained 25% on its debut, though this average is propped up by Gwardar (+105%) and Ceretas (+132%).Gwardar Resources is a Perth-based junior explorer chasing copper, gold and nickel in Western Australia, via the Doolgunna project in Murchison and the Kurnalpi project sitting in the Eastern Goldfields.Ceretas is a clinical-stage medtech commercialising a portable, non-invasive therapeutic ultrasound headset for Alzheimer's disease and other neurodegenerative conditions.Omit those two baggers and the average July debut gain drops to just 1.7%.TickerCompanyListing dateIPO priceDebutLastDay 1 %To date %ALUAlurion Resources31/07/26$1.05$0.90$0.90-14.3%-14.3%GRSGwardar Resources31/07/26$0.20$0.41$0.41105.0%105.0%MNVMonvia24/07/26$1.10$1.12$1.101.8%0.0%CTSCeretas23/07/26$0.25$0.58$0.55132.0%120.0%LUXLux Copper Corp17/07/26$0.25$0.32$0.3326.0%30.0%AXQAura Consolidated9/07/26$6.93$6.85$3.20-1.2%-53.8%FDCFDC Consolidated9/07/26$3.00$3.37$3.3712.3%12.3%TETTetragon Energy9/07/26$0.20$0.25$0.2325.0%12.5%NHUNeu Horizon Uranium7/07/26$0.20$0.14$0.08-30.0%-59.0%AIXAI Private Opportunities Trust2/07/26$10.00$9.35$9.01-6.5%-9.9%Share price performance as at Friday, 31 July 2026The year so farThere have been 29 IPOs this year, tracking well ahead of the corresponding period in 2025 (16), 2024 (19) and 2023 (18) but still well below the 63 recorded in 2022.The average IPO in 2026 has returned 30.5% on its debut, with the average buoyed by names like Bison Resources (+225%), Ceretas (+132%), Gwardar (+105%) and KTEK Aerosystems (+102.5%). Take out these four runners, and the average drops to 11.3%.Returns to date imply that more often than not, the stock's highest price is achieved at its debut, followed by a slow grind lower. The average new listing is up just 10% to date, and once you take out the ones that are still up triple digits (Gwardar, Ceretas, Kaoko and Bison), the average drops to (8.5%). There are only two stocks that have managed to meaningfully move above the debut price, that being SkinKandy and Kaoko Metals.Share price performance as a...

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