JNK India to Bharti Hexacom: These new listings in April have given up to 68% return so far

As many as four mainboard public offers, including Vodafone Idea’s ₹18,000 FPO, were listed on stock exchanges in April 2024. All the newly listed stocks– JNK India, Bharti Hexacom and SRM Contractors – started the trading on a positive note with first-day gains of up to 67%. Except for SRM Contractors, all the public offers are trading above the issue price providing returns of up to 68% to investors since listing.

SRM Contractors

SRM Contractors was the first mainboard listing of the new financial 2024-25. After its successful IPO, which was booked more than 86 times, the company listed shares on April 3, 2024. The stock made debut at a premium of 7% at ₹225 apiece against the issue price of ₹210 per share. The stock ended the first day of trading with gains of 12% at ₹236.2 per share. SRM Contractors, however, slipped below the issue price in April. The stock closed at ₹198.70 on Thursday, May 2, giving negative returns of 5%.

Bharti Hexacom

Bharti Hexacom, which was the first IPO of FY 2024-25 made a strong debut on stock exchanges. The IPO of the telecom services provider was subscribed a little over 29 times. The company listed shares on April 12. Bharti Hexacom saw a bumper listing as shares listed at a premium of 32% at ₹755.2 per share against the issue price of ₹570 per share. The stock ended the first day of trading with robust gains of 52.19% at ₹813.75 per share.
Bharti Hexacom shares closed at ₹877.95 per share on May 2, Thursday, giving returns of 54% to the investors against the issue price.

Vodafone Idea FPO

Vodafone Idea Ltd raised a record ₹18,000 crore through its FPO in April. The struggling telco priced the FPO at ₹11 per share. After the successful close of the issue which was booked nearly 7 times, the company listed new shares on April 23. Voda Idea shares closed with gains of 19% at ₹13.09 per share on April 23. Since then VIL shares have risen around 20% from the issue price.

JNK India

Heating equipment maker JNK India closed the April month on a high note. The fourth and last listing of April saw initial gains of 49.4% at the opening trade. JNK India closed the listing day at ₹693.95 per share, up by 67% from the issue price of ₹415 per share. JNK India also emerged as the top performer in terms of listing day gains among mainboard public issues. Earlier, JNK India IPO witnessed robust demand from investors with the IPO getting subscribed by over 28 times.

JNK India shares closed at ₹650 per share on May 2, Thursday, giving overall returns of 56% to investors as compared to the issue price.

Most SME IPOs give positive return to investors in April

As many as 23 IPO were listed on SME platforms of NSE and BSE in April. Of these just three stocks – DCG Cables & Wires Limited, Grill Splendour Services Limited and GConnect Logitech and Supply Chain Limited are trading below their respective issue prices, thus providing negative returns to investors.

Also, only two IPOs – DCG Cables & Wires Limited and Vishwas Agri Seeds Limited – provided negative returns of up to 8% on the listing day.

TAC Infosec Limited emerged as the top performer in terms of listing day gains. The stock closed higher by 187% on the first day of trading. It has given multifold returns of 390.38% so far since listing.

Creative Graphics Solutions India Limited with listing day gains of 107.35% is at second place. The stock has risen around 165% since listing on April 9.