IPOs in FY24: 75 issues launched; 5 stocks including IREDA, Netweb soared over 150% since listing

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₹61,915 crore through main board IPOs during this period, up significantly from the ₹52,116 crore raised by 37 IPOs in the previous fiscal year 2022-23. Over 50 of the 75 IPOs are currently trading above the issue price with an average return of 65 percent. 5 of these 75 IPOs have soared over 150 percent from their issue prices.

With a robust financial performance post listing, IREDA has generated over 4x returns over the issue price, showcasing its strong momentum in spearheading the renewable energy boom in the country through financing. Following closely behind are Signature Global, up 244 percent and Netweb Technologies, up 200 percent. Meanwhile, Cyient DLM has also jumped 160 percent whereas Motisons Jewellers has rallied over 150 percent.

Azad Engineering and Senco Gold are some other IPOs that have also given multibagger returns. The highly anticipated Tata Technologies, which marked a significant return of the Tata Group to the IPO market after almost two decades, has proven to be a success story. The stock is presently trading at an impressive 106 percent above its issue price.

However, amidst the enthusiastic investor sentiment and a thriving primary market, the fiscal year also witnessed some companies struggling to meet public expectations post listing. Among the notable underperformers are HMA Agro Industries, trading a substantial 91 percent below its issue price, followed by Credo Brands Marketing, down 36 percent, Muthoot Microfin, down 32 percent and Epack Durables, down 30 percent. > In the realm of mainboard IPOs, Mankind Pharma emerged as the largest player, raising ₹4,326 crore, closely followed by JSW Infrastructure with ₹2,800 crore.