The Indian stock market looks set to end 2023 with a bang, as the benchmark BSE Sensex broke through the 70,000-point barrier for the first time last week. Furthermore, the strong performance of this year’s initial public offerings (IPOs) has made the equity market a profitable avenue for new investors.
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Notably, the first half of the current fiscal year saw a record 31 IPOs, while the remaining six months of the 2023-24 fiscal year are expected to see 28 issues, according to data from primedatabase in October 2023. Not only has the stock market seen a frenzy of IPOs this year, but investors have repeatedly demonstrated their love for the issues with strong subscription numbers. As a result, many IPOs performed admirably this year, with some providing investors with returns of more than 100%.
IREDA
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On November 29, 2023, the Indian Renewable Energy Development Agency Ltd (IREDA), a government-run company, will go public. The company’s IPO was launched at an issue price of Rs 32 per share, with the current market price of the stock standing at Rs 108.19 per share, giving investors a 238 percent return and making it the best-performing IPO launched this year so far.
Netweb tech
Netweb Technologies India Ltd made its stock market debut on July 27, 2023. The company opened its new issue for bidding at Rs 500 per share and was trading at Rs 1,289.05 per share, giving investors a more than 150% return.
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Tata Tech
Tata Technologies Ltd remained one of the most anticipated IPOs in 2023. On November 30, 2023, the company went public. The stock closed at Rs 1,242.25 on December 15, 2023, compared to the issue price of Rs 500, indicating a nearly 150% return for investors.
Cyient DLM
On July 10, 2023, Cyient DLM Ltd debuted on the stock market. The company began accepting bids for the initial public offering (IPO) at Rs 265 per share. As of December 15, 2023, the stock was trading at Rs 651 per share, resulting in 145.6 percent returns for investors.
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Senco Gold
Senco Gold Ltd made its stock market debut on July 14, 2023. The company opened its IPO for subscription at Rs 317 per share and closed at Rs 749.35 per share on Friday, giving investors a return of more than 130%.
Vishnu Prakash R Punglia
Vishnu Prakash R Punglia Ltd began accepting bids for the new issue on September 5, 2023, with a share price of Rs 99. The stock closed at Rs 217.45 on December 15, 2023, representing a nearly 120 percent return for investors.
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Ems LTD
On September 21, 2023, EMS Ltd made its stock market debut. The company opened its IPO for subscription at Rs 211 per share and closed at Rs 436.85 per share, providing investors with returns of more than 100%.
Signature Global
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Signatureglobal (India) Ltd went public on the stock exchange on September 27, 2023, with an issue price of Rs 385 per share. On Friday, the company’s shares were trading at Rs 796.15 per share, representing a nearly 107 percent return on the issue price.
