73% IPOs trading above issue price as primary market shines in H1, four turn multibaggers
market continued its momentum through this year as well with as many as 34 listings so far in the first half. This was higher than the debuts seen in H1 of previous year.
The fundraising of Rs 26,272 crore, however fell short of the previous two years likely due to the absence of mega issues. Investors' reception also remained positive with only one failed IPO.
Out of the 34 listings seen this year, four companies have turned multibaggers and are still trading at least 100% above the offer price.
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These are Jyoti CNC Automation, Exicom Telecom, TBO Tek and JNK India. Jyoti CNC saw a healthy response to the IPO with an oversubscription of 40 times and the stock is currently trading 300% over the offer price.
Meanwhile, the shares of Exicom Telecom, TBO Tek and JNK India are higher by 220%, 107% and 100%, respectively above the IPO price.
Other notable mentions in the list include, Bharti Hexacom — one of the marquee IPOs this year — whose shares are trading 96% higher than the offer price. BLS E Services and Let Travenues Technologies are other companies, which are doing well at the bourses with a gain of at least 60% from the issue price.
Of the listings this year, around 73% of companies are still above the IPO price, which is seen as pretty consistent given the market volatility this year due to various factors.
However, not every company had a pleasant walk at the exchanges. There are at least 8 companies that have suffered to keep up public scrutiny post the initial share sales, resulting in their
