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2024 IPOs: Ones that flew over the market's best
India saw its biggest Initial Public Offering (IPO) ever in 2024 with Indian companies raising a record ₹1.6 lakh crore in 2024 so far
Indian companies have reportedly raised a record ₹1.6 lakh crore from their Initial Public Offerings (IPOs) in 2024 so far.
Though these also include ones such as Hyundai Motor India's historic ₹27,870 crore IPO, which is India's largest ever, one may wonder which were the IPOs that performed the best on their debut in an IPO market filled with a diverse range of small, medium and large IPOs.
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Top 10 IPOs of 2024 by listing day gains
Here are the top 10 IPOs of 2024 in descending order of how much gains they made on their day of listing, as per a CNBC-TV18 report.
1) Vibhor Steel Tubes Ltd
Vibhor Steel Tubes debuted with a 195.53% listing gain. It was offered at ₹151, but ended up closing at ₹446.25.
It raised ₹72.17 crore, getting oversubscribed 320.05 times.
2) BLS E-Services Ltd
BLS E-Services rose 171.11% on the first day, with its shares closing in at ₹366, compared to its ₹135 offer price.
It was oversubscribed 162.38 times and raised 310.91 crore.
3) Bajaj Housing Finance Ltd
Bajaj Housing Finance gained 135.71% on listing, with its shares closing that day at ₹165, compared to the ₹70 issue price.
It received a huge total subscription of ₹4.42 lakh crore when it debuted on September 16, 2024.
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4) KRN Heat Exchanger and Refrigeration Ltd
KRN Heat Exchanger and Refrigeration gained 117.63% on the listing day with share prices closing at ₹478.79, though it was originally priced at ₹220.
The issue size was ₹341.95 crore and was oversubscribed 213.41 times.
5) Unicommerce eSolutions Ltd
Unicommerce eSolutions gained 94.52% from the original ₹108 issue price, closing at ₹210 and being oversubscribed 168.35 times.
6) One Mobikwik Systems Ltd
Mobikwik surged by 90% on debut from the issue price of ₹279, with the total IPO being worth ₹572 crore.
7) Premier Energies Ltd
Premier Energies gained 86.6% on listing, and closed at ₹839.90 from a ₹450 issue price.
The total subscription was worth ₹2.12 lakh crore, being oversubscribed 75 times.
8) Le Travenues Technology Ltd
Le Travenues Technology closed at RS 165.72, having gained by 78.19% from its original ₹93 listing price.
The IPO as a whole, raised ₹740 crore, being oversubscribed 98.10 times.
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9) JNK India Ltd
JNK India gained 67.36% on listing and closed at ₹694.47 compared to the listing price of ₹415.
The issue which was oversubscribed 28.46 times was ₹649.47 crore in size.
10) P N Gadgil Jewellers Ltd
P N Gadgil Jewellers rose 65.27% on debut, with the share price closing at ₹793.30 from the listing price of ₹480.
This IPO which was oversubscribed 59.41 times, ended p raising ₹1,100 crore.
