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4 min read | Updated on April 04, 2024, 13:55 IST
SUMMARY
Tata Technologies, BLS E-Services, Muthoot Fincorp, JSW Infrastructure, Inox India Ltd, Mankind Pharma and Indian Renewable Energy Development Agency Ltd were among the 76 companies which hit the IPO street in FY 2023-24.
Top performing IPOs: These 5 IPOs give up to 350% return in FY24
As many as 76 companies raised around ₹62,000 crore from public investors through mainboard IPOs in the financial year 2023-24 (FY24). Total funds raised were around 19% higher than that in the previous financial year while the number of companies that hit the capital market rose by two-fold from 37 in FY23.
Tata Technologies, BLS E-Services, Muthoot Fincorp, JSW Infrastructure, Inox India Ltd, Mankind Pharma and Indian Renewable Energy Development Agency were among the 76 companies which hit the IPO street in FY24.
However, around 13 companies gave multifold returns to investors in the last financial year. Here is the list of top five IPOs with the highest returns in 2023-24.
The public issue was subscribed around 11 times while listing day returns were around 19%. The government focus on providing housing to all and better financial results have supported the rally in Signature Global shares.
In addition to these five top IPO performers of FY24, the investors in several public issues also received more than 100% return in FY24.
IPOs | Return in FY24 |
---|---|
Azad Engineering | 161% |
Jyoti CNC Automation | 148% |
Senco Gold | 143% |
BLS E-Services | 129% |
Mankind Pharma | 113% |
JSW Infrastructure | 106% |
Concord Biotech | 105% |
Tata Technologies | 104% |
In FY 2023-24, companies from across the sectors hit the capital markets to raise funds. Financial sector companies which were dominant players in the IPO market in FY 2022-23 accounted for a fifth of total funds raised in FY24. Similarly, less number of new-age companies hit the IPO street in FY24.
Market data showed that the average listing day gains were 29% in FY24 compared to 9% gains in 2022-23. Around 55 stocks or 70% of stocks are trading above the issue price.
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