IPO afterparty of 2024 a dull affair with every second stock in red
IPO party of 2024 stood out as a landmark year for fundraising, with blockbuster issues making headlines and drawing strong investor interest. However, the post-listing performance of many of these IPOs was mixed with 48% of the issues or nearly 1 in 2 slipping below their listing day close, according to an analysis by ETMarkets.
Out of the 72 IPOs for which data is available, 35 are currently trading below their listing day price. On the brighter side, three issues have turned into multibaggers, while 27 have delivered strong double-digit returns since their debut.
Jyoti CNC Automation emerged as the star performer among this year’s IPOs, nearly tripling investors’ wealth since its debut. KP Engineering and JG Chemicals also had a strong run in the secondary market with returns of over 100%.
On the other hand, Popular Vehicles and Services, BLS E-Services, Saraswati Saree Depot, and Capital SFB were among the biggest laggards, struggling to meet investor expectations in the secondary market. These stocks saw sharp declines, dropping between 39% and 43% since their debut on the exchanges.
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