For those who enjoy initial public offerings (IPOs), the fiscal year 2023-2024 has gotten off to an excellent beginning. Based on the data, approximately 76 companies have successfully raised around 620 billion Indian rupees through IPOs.
So, out of all these companies’ IPOs, which one is the most successful and should be on your list?
Top 4 IPO Performers For 2024
At the end of this blog post, you’ll find the top four Initial Public Offerings (IPOs) that have brought investors a 100% or greater return on their investment price. The lineup includes the Indian Renewable Energy Development Agency, Motisons Jewellers, Signature Global, and Netweb Technologies. As an added bonus, there’s a fifth company featured on the list as well.
Indian Renewable Energy Development Agency (IREDA)
Indian renewable energy sector has experienced significant expansion in loans, resulting in impressive profits. This profitable trend makes it an attractive choice for potential investors considering IPOs in 2024.
The price of IREDA’s IPO shares experienced a substantial increase of approximately 253% over the past four months. Initially priced at Rs 32 per share, the value skyrocketed to an impressive Rs 175 per share.
Currently, its market capitalization is Rs 46.83 trillion. The stock market began trading today at 182, with the least share price being approximately 170.85.
Signature Global (India) Ltd
The IPO price, which was initially set at approximately Rs 385 per share, experienced a significant increase of roughly 252% following the government’s emphasis on housing policies. This resulted in the new price being around Rs 1,359.2 per share.
It has a market cap of Rs 19.01 Trillion Crore, and the day opened with an initial value of 1,348.
Netweb Technologies India
This IPO’s profit was an impressive 221% increase, with the stock reaching a high of Rs1,814.75 compared to its initial offering price of around Rs 500 per share.
Netweb’s market opened with a price of Rs 1,664 and has a market cap of Rs 9.36 Trillion Crore.
Motisons Jewellers
In approximately eight months following Motisons Jewelers’ IPO debut in 2023, the stock price had significantly increased by a factor of 191%, reaching approximately Rs 169.60 per share. The initial public offering price for Motisons Jewelers was set at just Rs 55.
The company boasts a market capitalization of approximately Rs 16.4 trillion, with its current share price being Rs 167. So far this year, the price has fluctuated between Rs 88.85 and Rs 248.15.
Cyient DLM
Reading Cyient DLM this year brought a generous reward, with its stock soaring to Rs869.80 from an initial price of Rs265, resulting in a remarkable 171% increase.
The market value of Cyient DLM is approximately Rs 5.58 trillion Crore, and its current share price is Rs 703. This year, the estimated price range for a single Cyient DLM share is between Rs 403 and Rs 883.80.
Conclusion
A few other IPO shares are next on this list, including Tata Technologies, Azad Engineering, and Concord Biotech, which has a 100% plus return in this FY24 session.
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2024-04-08 19:10