The Indian primary market saw record high participation from both investors and companies in 2024. As many as 268 companies successfully raised Rs 1.67 lakh crore through Initial Public Offers (IPOs). Out of these 268 companies, shares of 90 companies are listed on the NSE and BSE and shares of 178 companies listed on the SME platforms.
Among the 90 companies listed on the mainboard, as many as five companies managed to list with a premium of up to 181 per cent, earning profits for IPO investors. Here’s a look at how these 5 companies performed on listing day:
Vibhor Steel Tubes Ltd.
Shares of Vibhor Steel Tubes were listed at a premium of 181 per cent to the issue price on February 20, 2024. The stock was listed at Rs. 425 on the NSE against the issue price of Rs. 151 per share. On the BSE, the stock made its debut at Rs. 421.
Retail investors allotted at least one lot or 99 shares would have made a minimum profit of Rs. 27,126 (Rs. 425 - Rs. 151 x 99) after the stock listed on the NSE.
Vibhor Steel Tubes raised Rs. 72.17 crore through its public issue which consisted of an entirely fresh issue of 48 lakh shares. Vibhor Steel Tubes was founded in 2003, the company manufactures, exports and supplies steel pipes and tubes. Shares of Vibhor Steel Tubes Ltd closed at Rs 210.05 apiece on the NSE, down by 1.65 per cent on January 9
BLS E-Services Ltd.
BLS E-Services shares were listed at a premium of 125.92 per cent to the issue price on February 06, 2024. The stock was listed at Rs. 305 on the NSE against the issue price of Rs. 135 per share. On the BSE, the stock made its debut at Rs. 309 apiece.
Retail investors who were allotted at least one lot or 108 shares would have made a minimum profit of Rs. 18,360 (Rs. 305 - Rs. 135 x 108) after the stock was listed on the NSE.
BLS E-Services IPO was worth Rs. 310.91 crore and consisted of an entirely fresh issue of 2.3 crore shares. BLS E-Services was incorporated in April 2016. The company is a digital service provider which offers business correspondence services to major banks in India. The company also offers Assisted E-Services and E-Governance Services at the grassroots level in India. BLS E-Services shares closed at Rs. 205.5 apiece on the NSE, up by 1.12 per cent on January 9.
Mamata Machinery Ltd.
Mamata Machinery shares were listed at Rs. 600 with a premium of 146.91 per cent, against the issue price of Rs. 243 on the NSE on December 27. The stock also made its debut at Rs. 600 on the BSE.
Retail investors who were allotted at least one lot or 61 shares would have made a minimum profit of Rs. 21,777 (Rs. 600 - Rs. 243 x 61) after the stock was listed on the NSE.
Mamata Machinery IPO was worth Rs. 179.39 crore and the issue consisted only of an offer-for-sale of 74 lakh shares. Mamata Machinery Limited was incorporated in April 1979. The company is a manufacturer and exporter of machines which make plastic bags, pouches, packaging, and extrusion equipment. Shares of Mamata Machinery closed at Rs. 471.7 apiece on the NSE, down by 4.99 per cent on January 9.
Bajaj Housing Finance Ltd.
Bajaj Group company, Bajaj Housing Finance shares were listed on the BSE and NSE with a premium of 114 per cent. The stock debuted at Rs. 150 on both the BSE and NSE, compared to the issue price of Rs. 70.
Retail investors who were allotted at least one lot or 214 shares would have made a minimum profit of Rs. 17,120 (Rs. 150 - Rs. 70 x 214) after the stock listed on the NSE.
Bajaj Housing Finance IPO was one of the biggest public issues of 2024 as the company raised Rs. 6,560.00 crore. The public issue consisted of a fresh issuance of 50.86 crore shares aggregating to Rs. 3,560 crore and an offer for sale of 42.86 crore shares amounting to Rs. 3,000 crore.
Bajaj Housing Finance Ltd. was founded in 2008. The company is a non-deposit-taking Housing Finance Company (HFC), registered with the National Housing Bank (NHB) since 2015. The company provides customised financial solutions to individuals and corporations for acquiring and renovating residential and commercial spaces. Bajaj Housing Finance shares closed at Rs. 120.96 apiece on the NSE, down by 2.02 per cent on January 9.
KRN Heat Exchanger and Refrigeration Ltd.
KRN Heat Exchanger and Refrigeration shares were listed at Rs 480 on NSE on October 3, with a premium of 118.18 per cent over the issue price of Rs. 220. The stock was listed at Rs. 470 on the BSE.
Retail investors who were allotted at least one lot or 65 shares would have made a minimum profit of Rs. 16,900 (Rs. 480 - Rs. 220 x 65) after the stock listed on the NSE.
KRN Heat Exchanger and Refrigeration IPO raised Rs. 341.95 crore via its public issue which consisted of an entirely fresh issue of 1.55 crore shares.
KRN Heat Exchanger and Refrigeration Ltd. is a manufacturer of fin and tube-type heat exchangers. The company’s product portfolio includes copper and aluminium fins, copper tubes, heat exchangers, water coils, condenser coils, and evaporator coils. Shares of KRN Heat Exchanger closed at Rs. 730 on the NSE apiece down by 4.01 per cent.
