According to data , 75 Indian companies together raised more than Rs 1.5 lakh crore through mainboard IPOs, setting a new record.
2024 has been a remarkable year for IPOs, with the capital markets buzzing as companies rushed to take advantage of a strong economy and positive investor sentiment. Investors have shown excitement, eager to either profit from listing-day gains or bet on companies with strong long-term growth prospects. As the year nears its end, let’s dive into the trends and insights shaping the IPO market this year.
3 Biggest IPOs of 2024
| Company | IPO Size (Rs crore) | Listing Date | Listing Performance | Post-Listing Performance |
|---|---|---|---|---|
| Hyundai Motor India | 27,870 | October 22, 2024 | Opened at 1.32% discount | Lacked momentum, lukewarm debut |
| Swiggy | 11,327 | 2024 | Opened with a 7.69% premium | Shares up 26% since listing |
| NTPC Green Energy | 10,000 | 2024 | Opened with a 3% gain | Post-listing rally of 10%, hit Rs 1 trillion market cap |
Top Mainboard IPOs of 2024
| Company | IPO Size (Rs crore) | Listing Date | Listing Performance | Post-Listing Performance | Subscription Rate |
|---|---|---|---|---|---|
| Vibhor Steel Tubes | ₹72.17 | February 20, 2024 | Listed at 181% premium | Huge profit potential per lot (₹3,80,000 for HNI) | 320 times |
| BLS E-Services | ₹310 | February 6, 2024 | Listed at 177% premium | Stock down nearly 40% since listing | 162.47 times |
| Bajaj Housing Finance | ₹6,560 | September 16, 2024 | Listed at 135% premium | Shares down 20% after initial profit-booking | ₹3.23 lakh crore total subscription |
Mainboard IPOs with the Highest Discount in 2024
| Company | IPO Size (Rs crore) | Listing Date | Listing Performance | Subscription Rate |
|---|---|---|---|---|
| Deepak Builders & Engineers India | ₹260.04 | 2024 | Listed at a 20% discount | 41.54 times |
| JG Chemicals | ₹251.19 | 2024 | Listed at 6% discount, declined by nearly 20% | 28.52 times |
| Jana Small Finance Bank | ₹570 | February 14, 2024 | Listed at 4% discount, later dropped nearly 12% | 19.89 times |
Insights:
- Deepak Builders & Engineers India raised ₹260.04 crore and listed with a 20% discount despite an impressive 41.54 times subscription rate. However, the stock saw a significant fall on its debut.
- JG Chemicals, with an IPO size of ₹251.19 crore, listed at a 6% discount and declined by nearly 20%. The IPO received 28.52 times subscription.
- Jana Small Finance Bank raised ₹570 crore and had a muted debut, listing with a 4% discount, followed by a further 12% drop. It was subscribed 19.89 times.
Top SME IPOs
| Company | IPO Size (Rs crore) | Listing Date | Listing Performance | Subscription Rate | Profit per Lot |
|---|---|---|---|---|---|
| Kay Cee Energy & Infra | ₹15.93 | January 5, 2024 | Listed at 366.66% premium | Subscribed 959.5 times | ₹4 lakh |
| Medicamen Organics | ₹10.54 | June 28, 2024 | Listed at 305% premium | Not mentioned | Flat since the start of the year |
| GP Eco Solutions India | ₹30.79 | 2024 | Listed at 299% premium | QIB: 236.64x, NII: 1,825.61x, RII: 793.2x | ₹3.37 lakh |
Insights:
- Kay Cee Energy & Infra raised ₹15.93 crore and listed at a 366.66% premium. The IPO was massively oversubscribed, with retail investors bidding 1,300 times and HNIs 1,600 times their respective portions. Profit per lot was ₹4 lakh.
- Medicamen Organics raised ₹10.54 crore and listed at a 305% premium. Despite the strong debut, its shares have remained flat since the start of the year.
- GP Eco Solutions India raised ₹30.79 crore and listed at a 299% premium. The IPO saw huge demand across all segments, with QIBs subscribing 236.64 times, NIIs subscribing 1,825.61 times, and RIIs subscribing 793.2 times. Retail investors made ₹3.37 lakh per lot on listing day.
Worst SME IPO Listings in 2024
| Company | IPO Size (Rs crore) | Listing Date | Listing Performance | Subscription Rate | Price Performance |
|---|---|---|---|---|---|
| MVK Agro Food Product | ₹65.88 | March 7, 2024 | Listed at Rs 79, a 34.2% discount | 8.46 times | Shares down 20% in 3 months |
| Kalana Ispat | ₹32.59 | September 26, 2024 | Listed at Rs 45, a 32% discount | Subscribed 60 times; Retail: 74.26x, NII: 40.65x | Weak debut, slow recovery |
| BikeWo GreenTech | ₹24.09 | September 27, 2024 | Listed at Rs 45, a 27.4% discount | 41.82 times | Weak start, low demand |
Insights:
- MVK Agro Food Product raised ₹65.88 crore and listed at a 34.2% discount. The stock has since dropped by 20% in the last 3 months.
- Kalana Ispat raised ₹32.59 crore and listed with a 32% discount, despite 60x subscription, with retail investors heavily oversubscribed at 74.26 times. The stock had a weak debut and struggled to recover.
- BikeWo GreenTech raised ₹24.09 crore and listed at a 27.4% discount. Despite being in the electric vehicle sector, the IPO faced a weak debut with low demand post-listing.
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