Top 5 IPOs with highest listing day gains: Vibhor Steel, BLS E-Services and more

The fund-raising frenzy is at its peak. Indian companies of all sizes have been lining up for months to launch their initial public offerings (IPO) and make their stock market debut this year. So far, in 2024, as many as 49 new stocks have been listed on the National Stock Exchange of India (NSE).

Of these debutants, let’s take a look at the top five best-performing mainboard IPOs of the year in terms of listing day gains.

Vibhor Steel Tubes Ltd – (Listing day gains 181%)

The IPO was subscribed almost 300 times. Vibhor Steel shares made their debut on the NSE on February 20 at a premium of 181%, at ₹425 apiece, compared to the issue price of ₹151.

However, the listing bubble popped soon, and the stock started correcting to trade at more reasonable valuations. The share price currently hovers at ₹255 levels, up 69% compared with the IPO price of ₹151.

BLS E-Services Ltd (Listing day gains: 126%)

On February 6, the stock listed at a 126% premium at ₹305 compared with the IPO price of ₹135. This was the second-highest listing gain witnessed by a mainboard IPO in 2024. However, similar to Vibhor Steel Tubes, BLS E-Services could not build up gains from there on. The stock currently trades at ₹243 levels, almost 80% higher than its IPO price.

Unicommerce eSolutions Ltd (Listing day gains: 118%)

After having been oversubscribed by over 168 times, the stock had listed at ₹235 per share on the NSE on August 13, which was a premium of almost 118% compared to its issue price of ₹108. In the past fortnight, the Unicommerce eSolutions stock has managed to sustain those levels broadly, trading 103% higher at ₹219.3 apiece.

Exicom Tele-Systems Ltd (Listing day gains: 87%)

DEE Development Engineers Ltd (Listing day gains: 67%)

The stock was listed on June 26 with a 67% premium at ₹339 compared with its issue price of ₹203 per share. Currently, after two months of listing, it trades at almost the same level at ₹345.5 apiece on the NSE.