August IPO listings: Newly listed IPOs gave robust returns, Unicommerce eSolutions, Ola Electric top gainers; check full list

The Indian primary market has outshined the secondary market in terms of returns to stock investors in 2024 so far. Most initial public offerings (IPOs) have seen bumper listings at high premiums. This has led to increased investors’ interest in the primary market - both domestic and international- this year so far.

According to reports, India led the world in IPO launches, both mainboard as well as SME public issues, in the first half of 2024, and the trend has continued in the second half so far.

As many as 31 companies listed their shares on stock exchanges in July 2024. These included five mainboard IPOs listed on BSE and NSE and 26 SME IPOs listed either on NSE or BSE. The primary market has also seen hectic activity so far in August.

19 IPOs raise over ₹14,000 crore in August

Keeping up with the trend, as many as 19 companies made market debuts in the first half of August. These included five mainboard IPOs, such as FirstCry.Com, Ola Electric Mobility and Unicommerce and 14 SME IPOs.

The five mainboard IPOs raised a total of ₹13,725 crore, led by Ola Electric Mobility, which garnered ₹6,145.6 crore from investors. Brainbees Solutions (FirstCry.Com) raised ₹4,193.7 crore, while Ceigall India garnered ₹1,252.7 crore.

On the other hand, 14 SME IPOs raised a total of ₹522.8 crore, taking the total fundraising to ₹14,247 crore in August so far.

Meanwhile, the IPO listings of these companies also substantially rewarded investors. Of these, 18 IPOs are now trading with gains as high as 142%, while only one has given negative returns.

Unicommerce eSolutions IPO (Stock return: 110%)

Unicommerce eSolutions top gainer among mainboard IPOs in August. The e-commerce solutions provider Unicommerce eSolutions has topped the chart in terms of returns among the five mainboard IPOs listed in August so far.

The company's shares have jumped over 110% compared to its IPO price band of ₹108 per share. The stock trades at ₹227.5 on Monday at 20% upper circuit. The stock hit an all-time high of ₹256.15 on the listing day of August 13, 2024, and a low of ₹188.55. The IPO was subscribed more than 168 times.

Ola Electric Mobility IPO (Stock return: 92%)

Ola Electric Mobility Ltd. is second in terms of August returns so far. Shares of the leading electric two-wheeler maker have rallied more than 92% from the issue price of ₹76 per share to settle at ₹146.3 on the NSE on Monday. The stock has moved between a high of ₹146.3 and a low of ₹76 per share since its listing on August 9. The IPO was subscribed 4.45 times.

Akums Drugs and Pharma IPO (Stock return: 64.8%)

Akums Drugs and Pharmaceuticals Ltd shares have returned 64.8% since the listing on August 6. On Monday, the stock was locked at a 5% upper circuit at ₹1,119.9 on the NSE against the issue price of ₹679 per share. The IPO was subscribed 63 times, while the listing-day returns were 17%.

Brainbees Solutions Limited (Stock return: 51.3%)

Brainbees Solutions Ltd, which owns the FirstCry.Com retail brand, has given returns as high as 51.3% so far since its listing on August 13. The stock currently trades at ₹677.4 on Friday on NSE against the issue price of ₹465. The IPO was booked 12 times, and the listing day returns were over 45%.

Ceigall India IPO (Stock return: -2%)

Ceigall India is the only IPO that has given negative returns since July. The stock made its debut on August 8 and closed lower by over 3% against its issue price of ₹401 per share on the listing day. Shares trade at ₹393.20 on Monday on NSE, reflecting losses of 2% over the issue price.

SME IPOs give stellar returns of up to 160% to investors

In contrast to mainboard IPOs, 14 SME IPOs listed this month have given investors returns of up to 160% in August so far. All the SME IPOs, except for Clinitech Laboratory Limited, which made a debut in August, are trading with gains.

The chart is led by Afcom Holdings Limited, which has jumped 160% from the issue price of ₹38 per share. The stock was listed on August 6.

Similarly, Sathlokhar Synergys E&C Global Limited has given returns of 123% against the issue price of ₹140 per share. S A Tech Software India Limited has given returns of 109% against the issue price since its listing on August 2.

Aesthetik Engineers Limited shares jumped 99% on the listing day on August 16 against the issue price.

Hectic primary market schedule with upcoming IPOs

Of the 153 companies that went public in the first half of 2024, 117, or 77%, were SME companies. In comparison, 77 SME companies went public in the first half of 2023.

Continuing the trend, two mainboard IPOs will open for subscription next week. Orient Technologies Limited will launch its IPO on August 21 on BSE and NSE to raise ₹214.76 crore.

Interarch Building Products Limited’s IPO will open on August 19 on the BSE and NSE to raise ₹600.29 crore from investors.

On the other hand, five SME IPOs will open for subscription next week. These are Resourceful Automobile Limited, QVC Exports Limited, Ideal Technoplast Industries Limited, Brace Port Logistics Limited and Forcas Studio Limited.