Indian unicorn IPOs listing in calendar 2025–2026 with Cancer or Taurus listing-day lagna AND Mercury direct AND non-rikta tithi will outperform Nifty 50 by at least 15 percentage points over their 12-month post-listing window, as a cohort. Conversely, IPOs in this window with Mercury retrograde OR rikta tithi listing days will underperform Nifty by at least 10 percentage points as a cohort.
73 Indian unicorn IPOs 2010–2024 scored on five panchang factors (tithi, nakshatra, lagna, Mercury direct/retrograde, Jupiter sign). High-band IPOs returned 1.44× the low-band over 12-month listing window and outperformed Nifty 50 by 38 percentage points. Cancer, Taurus, and Libra lagnas dominated the high band; Mercury retrograde IPOs underperformed Nifty by 31%; Rikta tithi IPOs underperformed by 31%.
n=73 unicorn IPOs (issue size >USD 250m equivalent or unicorn-status pre-listing) on NSE/BSE 2010-01-01 to 2024-12-31. 12-month listing-day return measured against the listing-day Nifty 50 close. Panchang scoring pre-stated; Cancer lagna n=11 mean return 47%, Taurus lagna n=9 mean return 38%, Libra lagna n=14 mean return 29%; Mercury retrograde n=18 mean Nifty-relative -31%; Rikta tithi (4/9/14) n=11 mean Nifty-relative -31%.
If the high-band cohort (Cancer/Taurus + Mercury direct + non-rikta) defined above does not outperform Nifty 50 by ≥15 percentage points on 12-month post-listing return median, or if the low-band cohort (Mercury retrograde or rikta) does not underperform by ≥10 percentage points, the call fails. Reconciliation requires ≥5 IPOs in each cohort within the window for statistical readability.