Billion-dollar IPOs grabbed headlines in 2024, yet 7 of the best performing ones are under Rs 6,000 cr market cap
IPO activity has been unprecedented this year raising record amounts of capital, driven by strong investor demand and impressive returns on debut and later.
In a year where some of the big boys like Swiggy, Hyundai, Bajaj Housing Finance, NTPC Green and several others entered the market, small companies — with market cap of less than Rs 10,000 crore — make up almost the entire best 10 performing IPOs of this year.
Out of over 100 companies that tapped the primary market this year, 10 turned out to be multibaggers, delivering returns upwards of 300%. Jyoti CNC Automation has been the standout performer among all the IPOs this year with a return of 302% from the IPO price.
Jyoti CNC Automation is a leading Indian manufacturer of computer numerical control (CNC) machines, specializing in precision engineering solutions for industries like automotive, aerospace, and defense.
Of the 10 multibagger IPOs, which are also the best performing ones, seven of them have a market cap of less than Rs 10,000 crore. This is an interesting trend because the mega IPOs grabbed all the headlines and investor attention and proves that a big offer doesn't necessarily guarantee better returns.
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