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

Upstox
By Upstox News Desk

6 min read | Updated on May 31, 2024, 18:52 IST

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SUMMARY

In the first five months of 2024, Indian equity bourses saw listings of 31 IPOs which helped companies raise an amount of ₹48,150.66 crore through stock exchanges. Listing gains were substantial, especially in cases of Jyoti CNC Automation, Exicom Tele-Systems and BLS E-Services.

Stock list

JYOTICNC
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EXICOM
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BLSE
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BHARTIHEXA
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VSTL
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June 2024 IPOs: Kronox Lab Sciences and Sattrix Information Security launching soon

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.

List DateIPO NameIssue Size (Cr)Offer PriceList PriceListing Gains (%)CMP (NSE)Current Gains From Offer Price (%)
16-01-2024Jyoti CNC Automation Ltd.₹1,000₹331₹372.0012.39₹1,024.40209.53
05-03-2024Exicom Tele-Systems Ltd.₹429₹142₹264.0085.92₹315.40121.3
06-02-2024BLS E-Services Ltd₹309.29₹135₹309.00128.89₹245.5081.89
12-04-2024Bharti Hexacom Ltd₹4,275₹570₹755.2032.49₹1,001.3075.77
20-02-2024Vibhor Steel Tubes Ltd₹72.17₹151₹421.00178.81₹246.0066.52

Jyoti CNC Automation Ltd

Jyoti CNC Automation Ltd. debuted on January 16, 2024, with an issue size of ₹1,000.00 crore. The IPO was well-received across all investor categories, with strong subscription levels: 44.13 times from Qualified Institutional Buyers (QIBs), 36.48 times from Non-Institutional Investors (NIIs), and 26.17 times from Retail Individual Investors (RIIs), resulting in an overall subscription of 38.53 times. The offer price was ₹331.00, and it listed at ₹372.00, marking a listing gain of 12.39%. Currently, the stock is trading at ₹1,024.55 on BSE and ₹1,024.40 on NSE, reflecting substantial gains of 209.53% from its offer price.

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

Exicom Tele-Systems Ltd

Exicom Tele-Systems Ltd. entered the market on March 5, 2024, with an issue size of ₹429 crore. The IPO saw robust demand, with QIBs subscribing 121.8 times, NIIs 153.22 times, and RIIs 119.59 times, resulting in an overall subscription of 129.54 times. The offer price was ₹142, and it listed at ₹264, achieving a significant listing gain of 85.92%. Currently, the stock is trading at ₹314.25 on BSE and ₹315.40 on NSE, demonstrating a strong gain of 121.3% from its offer price.

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. debuted on February 6, 2024, with an issue size of ₹309.29 crore. The IPO garnered substantial interest, with QIBs subscribing 123.3 times, NIIs 300.14 times, and RIIs 237 times, resulting in an overall subscription of 162.47 times. The offer price was ₹135, and it listed at ₹309, achieving a remarkable listing gain of 128.89%. Currently, the stock is trading at ₹245.55 on BSE and ₹245.50 on NSE, showing a healthy gain of 81.89% in its offer price.

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. entered the market on April 12, 2024, with a substantial issue size of ₹4,275 crore. Despite lower subscription rates, with QIBs subscribing 48.57 times, NIIs 10.52 times, and RIIs 2.83 times, the IPO received an overall subscription of 29.88 times. The offer price was ₹570.00, and it listed at ₹755.20, achieving a listing gain of 32.49%. Currently, the stock is trading at ₹1,001.90 on BSE and ₹1,001.30 on NSE, indicating a strong gain of 75.77% from its offer price.

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. debuted on February 20, 2024, with an issue size of ₹72.17 crore. The IPO received robust demand, with QIBs subscribing 178.73 times, NIIs 721.34 times, and RIIs 188.17 times, resulting in an overall subscription of 298.86 times. The offer price was ₹151, and it listed at ₹421, achieving a substantial listing gain of 178.81%. Currently, the stock is trading at ₹251.45 on BSE and ₹246 on NSE, indicating a significant gain of 66.52% from its offer price.

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.

List DateIPO NameIssue Size (Cr)List PriceCurrent Gains (%) Since Listed
16-01-2024Jyoti CNC Automation Ltd.₹ 1,000.00₹ 372.00175.38
14-02-2024Jana Small Finance Bank Ltd₹ 570.00₹ 396.0046.65
12-04-2024Bharti Hexacom Ltd₹ 4,275.00₹ 755.2032.59
25-04-2024Vodafone Idea Ltd₹ 18,000.00₹ 12.0022.92
05-03-2024Exicom Tele-Systems Ltd.₹ 429.00₹ 264.0019.47
  • 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.

To know more about IPOs listing, schedule and upcoming IPOs, click here
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About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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