These 3 recently listed IPOs are trading above their issue price; all you need to know

While the volatility in the stock markets remains, the three recently listed initial public offerings (IPOs) are trading above their issue price.

Ajax Engineering share price

Ajax Engineering gained 2% to ₹640 on the National Stock Exchange (NSE) at 12:39 pm on April 16, with a market capitalisation of ₹7,322.04 crore.

The stock is up 1.74% from the issue price of ₹629 per share. It hit its 52-week high of ₹658.30 on March 20, and an all-time low of ₹549.10 on April 7.

The ₹1,269.35 crore Ajax Engineering IPO was an offer for sale (OFS) of 2.02 crore shares, without a fresh issue component. The initial share sale was subscribed 6.06 times, with qualified institutional buyers booking their part 13.04 times, non-institutional investors (NIIs) 6.46 times, and retail investors 1.94 times.

The company is involved in the manufacturing of concrete equipment and offers services across the value chain.

Dr Agarwal's Health Care share price

It hit its 52-week high of ₹464 on February 13 and 52-week low of ₹361.1 on April 7.

The ₹3,027.26 crore issue was a fresh issue of 75 lakh shares and an OFS of 6.78 crore shares. It received a total subscription of 1.49.

The company provides an array of eye care services, including cataract and refractive surgeries, diagnoses, and consultations.

Denta Water and Infra Solutions share price

Denta Water's ₹220.5 crore public offer was solely a fresh issue of 75 lakh shares. It was subscribed a whopping 221.54 times.

The company designs, installs, and commissions water management infrastructure projects.