The Indian stock market is attracting interest with many new initial public offerings (IPOs). These open IPOs provide an opportunity for investors to engage with diverse sectors while companies raise capital to fund their growth.
The new IPOs in India have garnered significant interest, showcasing the market’s dynamic nature. Investors often examine listing day performance and post-IPO trends to make informed decisions. This analysis delves into the performance of recent IPOs, detailing subscription levels and issue sizes to provide a comprehensive overview of the current IPO market.
Understanding the IPO sector in India
Initial public offerings in India allow privately held companies to raise public capital by getting listed on stock exchanges like the NSE and BSE. This year, IPOs have spanned industries such as technology, manufacturing, and finance, attracting both retail and institutional investors. The performance of these offerings is crucial for understanding market sentiment and gauging their appeal.
Key statistics of the new IPOs in India
The year 2024 has witnessed several new IPOs in India across various sectors. Among the open IPOs, the following have garnered attention:
- Swiggy Limited: Listed on 13 November 2024, this IPO raised ₹11,327.43 crore. The issue price was ₹390 per share, and it experienced a listing day price surge to ₹455.95, representing a 16.91% gain. The current price, as of recent updates, stands at ₹413.10, reflecting continued investor interest.
- Waaree Energies Limited: On 28 October 2024, this IPO, which raised ₹4,321.44 crore, showcased a stellar listing day gain of 55.48%, with shares opening at ₹2,336.80 compared to the issue price of ₹1,503.00.
- KRN Heat Exchanger and Refrigeration Limited: Listed on 3 October 2024, this IPO was oversubscribed by a massive 213.41x. The shares saw a 117.48% listing day gain, opening at ₹478.45 against the issue price of ₹220.00.
Top-performing IPOs on listing day
Listing day performance often serves as an indicator of investor sentiment and market demand. Some of the biggest gainers in 2024 include:
- Diffusion Engineers Limited: This IPO raised ₹158 crore and was oversubscribed 114.5x. Its shares recorded a 17.47% listing day gain, with the price rising to ₹197.35 from ₹168.00.
- Manba Finance Limited: With an issue size of ₹150.84 crore and an oversubscription of 224.05x, the IPO shares delivered a listing day gain of 31.21%, reaching ₹157.45 against the issue price of ₹120.00.
- P N Gadgil Jewellers Limited: This IPO, valued at ₹1,100 crore, was oversubscribed 59.41x. Shares surged by 65.17% on the listing day, climbing to ₹792.80 from ₹480.00.
IPOs with notable post-listing performance
While listing day gains attract significant attention, post-IPO performance provides a clearer picture of a company’s market standing.
- Waaree Energies Limited: As previously mentioned, this IPO has shown a remarkable 92.91% gain post-listing, driven by strong investor confidence in its renewable energy portfolio.
- Diffusion Engineers Limited: Post-listing, the stock has seen a surge of 93.9%, reaching ₹325.75 from its issue price of ₹168.00, underscoring its exceptional market demand.
- KRN Heat Exchanger and Refrigeration Limited: With a post-IPO gain of 235.27%, this stock stands out for its exceptional performance, reflecting strong fundamentals and market optimism.
IPOs facing challenges
Not all IPOs experience positive market sentiment. Some IPOs in 2024 have faced headwinds, as evidenced by their listing day losses and subdued post-IPO performance.
- Deepak Builders & Engineers India Limited: Despite an issue size of ₹260.04 crore and an oversubscription of 41.54x, the shares saw a listing day loss of 20.25%, dropping to ₹161.90 from ₹203.00.
- Godavari Biorefineries Limited: This ₹554.75 crore IPO experienced a listing day loss of 2.6%, with shares opening at ₹342.85 compared to the issue price of ₹352.00.
- Western Carriers (India) Limited: This IPO recorded a 7.3% listing day loss, with shares opening at ₹159.45 against an issue price of ₹172.00.
Oversubscription trends in 2024
Oversubscription levels often indicate the demand for an IPO. In 2024, several IPOs recorded exceptional oversubscription:
- Manba Finance Limited: This IPO achieved a staggering 224.05x oversubscription, reflecting high investor confidence.
- KRN Heat Exchanger and Refrigeration Limited: With an oversubscription of 213.41x, this IPO became one of the most sought-after in 2024.
- Arkade Developers Limited: The issue was oversubscribed at 113.49x, indicating exceptional interest from retail and institutional investors.
Insights on the new IPOs in India
The new IPOs in India reflect the dynamic nature of the stock market, with performances varying across sectors and companies. The analysis highlights both the opportunities and challenges that new IPOs present to investors. As the year progresses, further developments in post-IPO performance will continue to shape investor sentiment.
This analysis underscores the importance of thorough research before investing in open IPOs. With diverse options available, investors are encouraged to consider subscription levels, company fundamentals, and market conditions to make informed decisions.
