Most Successful IPOs of 2024 - What They Mean for Investors and the Economy

The Indian stock market has witnessed a shower of public offerings (IPOs) in the first five months of 2024. As of May 31, 31 companies have made their debuts on the stock exchanges, collectively raising a staggering ₹48,150.66 crore. This robust IPO activity reflects the strong investor sentiment and the buoyancy of the Indian economy. With more companies lined up for listing in the coming months, 2024 is shaping up to be a landmark year for the Indian IPO market.

We analysed all listed IPOs in 2024 by their performance and listing Gains. Let’s explore the key trends shaping the IPO market.

Here are the top five IPO Performers as of May 31, 2024.

Jyoti CNC Automation Ltd

Jyoti CNC Automation Ltd engages in the provision of manufacturing solutions for computerised machine cutting tools.

Exicom Tele-Systems Ltd

Exicom Tele-Systems Ltd is involved in the provision of power management solutions. It operates under the Critical Power and Electric Vehicle (EV) Charger segments.

BLS E-Services Ltd

BLS E-Services Ltd. engages in the provision of technology-enabled digital services. The firm focuses on providing business correspondence services to major banks, assisted e-services, and e-governance services.

Bharti Hexacom Ltd

Bharti Hexacom Ltd provides communications solutions and focuses on telecommunication business in Rajasthan and North East Circle.

Vibhor Steel Tubes Ltd

Vibhor Steel Tubes Ltd manufactures steel tubes and pipes.

Top Performers from Listing Price

Several IPOs from the first 5 months of 2024 have demonstrated strong performance since their listing, delivering significant gains to investors.

• Jyoti CNC Automation Ltd., which debuted on January 16 with an issue size of ₹1,000 crore, is listed at ₹372.00 and has since achieved an impressive gain of 175.38%.
• Jana Small Finance Bank Ltd., entered the market on February 14 with an issue size of ₹570 crore, listed at ₹396.00, showing a substantial gain of 46.65%.
• Bharti Hexacom Ltd., with an issue size of ₹4,275 crore was listed at ₹755.20 on April 12 and has seen a gain of 32.59%.
• Vodafone Idea Ltd, despite its large issue size of ₹18,000 crore and a modest listing price of ₹12.00 on April 25, has delivered a gain of 22.92%.
• Exicom Tele-Systems Ltd., which debuted on March 5 with an issue size of ₹429 crore and listed at ₹264.00, has shown a gain of 19.47%.

These IPOs have been well-received in the market, with strong listing performances translating into substantial gains for investors in the subsequent months.

The surge in IPOs and strong listing performances in 2024 highlight bullish investor sentiment and economic optimism in India. This sets the stage for continued growth and opportunities in the stock market.