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Business News/ Markets / Stock Markets/  13 mainboard IPOs listed in 2023 deliver multibagger returns; IREDA emerges as top performer – check full list
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13 mainboard IPOs listed in 2023 deliver multibagger returns; IREDA emerges as top performer – check full list

IREDA and Motisons Jewellers are among the top performers in recent listings, with their stocks trading 490% and 240% higher than their respective IPO prices. Signature Global, Cyient DLM, Netweb Technologies, EMS, and Utkarsh Small Finance Bank are also standout performers.

On similar lines, other new listings such as Senco Gold, Vishnu Prakash R Punglia, Global Surfaces, Tata Technologies, Mankind Pharma, and Concord Biotech are all trading between 100% and 150% higher than their issue prices.Premium
On similar lines, other new listings such as Senco Gold, Vishnu Prakash R Punglia, Global Surfaces, Tata Technologies, Mankind Pharma, and Concord Biotech are all trading between 100% and 150% higher than their issue prices.

Out of the 60 mainboard initial public offerings (IPOs) that entered the Indian stock market last year, 13 have witnessed significant share price increases, resulting in returns exceeding 100%. This translates to handsome profits for those who invested early in these companies.

What's particularly noteworthy is that out of these 60 stocks, only six are presently trading below their IPO prices, Trendlyne data showed. 

Leading the pack of top performers is IREDA, which has achieved a remarkable rally. Since its debut in the secondary market, the stock has consistently moved upward, setting new record highs. This performance has positioned it as one of the standout PSU stocks among recent listings.

The stock made its entry on Indian exchanges in November, listing at 60 apiece against its issue price of 32. In less than two weeks post listing, the stock experienced a remarkable 105.33% surge. With the current market price standing at 189 apiece, it is trading 490% higher than its IPO price.

Motisons Jewellers was another stellar performer in recent listings. The company's shares made a solid debut in December on the Indian stock exchanges, opening at 109 apiece as against the IPO price of 55 apiece. Later, it ended the first day with an impressive 88.3% gain at 103.5.

Also Read: Why stock market is down today after RBI's MPC meeting?

At the current trading price of 187 apiece, the stock is trading 240% higher than its issue price. The IPO garnered extraordinary investor interest, receiving a subscription rate of 159 times. 

Signature Global shares have also yielded returns exceeding 100%, with the current stock price trading at 1,297 per share, compared to the initial issue price of 385 per share. This translates to a remarkable gain of 236.9% thus far.

Cyient DLM, a subsidiary of Cyient, is next on the list. The stock made a strong entry in July.  After its listing, the stock finished the following five out of seven months in the green, with September having the highest monthly gain of 21%. Taking the stock's current trading price of 757 apiece into consideration, it is trading 186% higher than its issue price.

Likewise, shares of Netweb Technologies are trading 181% higher than their IPO price of 500 apiece. 

EMS has been a standout performer since its listing in 2023. Following a successful fundraising of 321 crore, the company's shares entered the Indian secondary market in September, debuting with a significant gain of 32.6% at 279.9 per share, compared to the issue price of 211. 

Presently, the company's shares are trading 172% higher than the issue price.

Also Read: IPO Frenzy: 16 companies hit Dalal Street in January with 6 more set to list; a look at top performers

The company is in the business of providing sewerage solutions, water supply systems, water and waste treatment plants, electrical transmission and distribution, road and allied works, and the operation and maintenance of wastewater scheme projects (WWSPs) and water supply scheme projects (WSSPs) for government authorities and bodies.

Utkarsh Small Finance Bank also emerged as a strong performer among stocks that were listed in 2023. It currently trades with a gain of 162% compared to its issue price of 25.

On similar lines, other new listings such as Senco Gold, Vishnu Prakash R Punglia, Global Surfaces, Tata Technologies, Mankind Pharma, and Concord Biotech are all trading between 100% and 150% higher than their issue prices.

 

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

 

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Published: 08 Feb 2024, 04:00 PM IST
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