5 top performing IPOs of 2024 so far
Subscribe to enjoy similar stories. In 2024, India has taken the lead in global IPO volumes, with 178 companies debuting on the stock market. In the first half of 2024 alone, India accounted for 25% of global IPO activity.
This surge has also positioned the country at the top in terms of mainboard-listed companies, with over 5,450 now listed, the highest in the world. The trend of strong listing gains, which peaked in 2020, continues with mainboard IPOs generating an average gain of around 30%. The BSE IPO Index has outperformed the broader BSE 500, while SME IPOs have seen remarkable listing gains, driven by robust domestic demand and investor confidence.
Of the approximately 58 mainboard IPOs in 2024, over 25 have delivered returns exceeding 50%, and 7 have achieved multibagger status. Let us take a closer look at the top 5 best-performing IPOs of 2024 so far. Jyoti CNC Automation Ltd (JCAL) is one of the world's leading manufacturers of metal-cutting computer numerical control (CNC) machines.
It manufactures and supplies 5-axis CNC machines, CNC Turning Centers, CNC Turn Mill Centers, CNC Vertical Machining Centers (VMCs), and CNC Horizontal Machining Centers (HMCs), for clients in different industries such as aerospace and defence, auto and auto components, general engineering, EMS, dies and moulds, and others. Since its stock market debut on 16 January 2024, Jyoti CNC has seen a remarkable rise of around 253%, with its share price surging from the issue price of ₹331 to ₹1,169. The stock was listed with a 31% gain, opening at ₹433.
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