SME IPO market witnesses a record run in 2023
Out of the 166 companies listed, 136 closed higher on debut and 24 companies recorded over 99.5% gains on listing day. Goyal Salt had the highest listing day gains at 258% followed by Sungarner Energies and Basilic Fly Studio with 216% and 193.4% gains, respectively.
The most visible aspect of SME IPOs was the subscription rates, said FYERS.
Fifty-one companies reported a subscription rate of over 100 times while 12 witnessed subscription rates more than 300 times.
Retail interest in SME IPOs were at record levels, according to FYERS.
«This magnitude of subscription rates across so many IPOs was unheard of till now,» said the brokerage. «Retail interest in some IPOs has crossed all previously known subscription rates.»
FYERS has recommended investors to be cautious on the upcoming IPOs since they are coming at a time when markets are at all-time highs.
«This euphoria may not last long, and certain companies may not display their financial performance similar to their stock price movement,» it said.
