May 2024 IPO review: Stellar returns from TBO Tek, Indegene, and more

As many as four companies have started their journey on mainstream stock exchanges in May so far. All the four IPOs listed at a premium and have given positive returns, making investors richer. However, one IPO stood out in terms of returns.

Leading travel distribution platform TBO Tek Ltd has given stellar returns of 56% against its issue price. Other three IPOs – Indegene Limited, Go Digit General Insurance Limited and Aadhar Housing Finance – have produced returns up to 16% since listing.

Apart from the mainboard IPOs, nearly 20 small and medium enterprises (SME) also made their market debut after successful public offerings.

Here is the list of the four IPOs and their returns in May so far.

TBO Tek Ltd

Indegene Limited

Go Digit General Insurance Limited

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Aadhar Housing Finance Limited

Affordable housing finance services provider Aadhar Housing Finance Ltd has given returns of around 5% against the issue price of ₹315 per share. The stock started its journey on exchanges on May 15 with listing day gains of 4.62%. Shares of the company settled at ₹329.55 apiece on the first day of trading. The stock closed at ₹331.4 per share on May 28, up by 5.41% over the issue price.

SME IPOs beat mainstream peers, generate bumper returns of up to 455%

SME IPOs have beaten the mainboard peers in terms of returns in May so far by producing gains of up to 455% for investors. All the 20 SME IPOs, except for Mandeep Auto Industries, that were listed in May are trading with gains. Of these, six SME IPOs have given returns of more than 100% and two between 50% and 100%.

The returns chart of SME IPOs is topped by Winsol Engineers Ltd with whopping gains of 455% against the issue price of ₹75 per share. The stock was listed on May 14 on NSE SME platform and closed the day with sharp gains of 411% over the issue price. Shares of the company settled at ₹416.9 apiece on May 28, up by around 455% or more than five times the issue price.

Refractory Shapes Ltd was second in giving handsome returns to shareholders in May. The stock started trading on May 14 and closed the day with stellar returns of 154%. The stock closed at ₹127.95 on May 28 on NSE, giving returns of 312% against the issue price of ₹31 per share.

Similarly, Indian Emulsifier Limited produced gains of 196% against the issue price of ₹132 per share. Shares of the company closed trade at ₹391.05 on May 28, up by 196% from the issue price. The stock was listed on NSE SME on May 22 and was up 242% on the listing day.

HOAC Foods India Limited is fourth in the list with overall returns of 187% against the issue price of ₹48 per share. The stock rose by 190% on the listing day on May 24. Shares of the company closed at ₹137.85 apiece on May 28, up by 187.19% from the issue price.

Energy-Mission Machineries (India) Limited IPO has given returns of 151% against the issue price of ₹138 as the stock closed at ₹347.2 on May 28. Veritaas Advertising Limited gave returns of 106% as the stock closed at ₹235.80 on May 28 against the issue price of ₹114 per share.

Among others, two SME IPOs Rulka Electricals Limited (92%) and Storage Technologies and Automation Ltd (75%) have produced gains between 50% and 100%.

Only one SME IPO of Mandeep Auto Industries Limited has given negative returns of around 21% from the issue price. Shares closed at ₹55.25 on May 28 against the issue price of ₹67 per share.

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