₹38 on its debut on 11 October, followed by Sungarner Energies Ltd, which opened at ₹250 on 31 August, a premium of 201% over its issue price. Basilic Fly Studio Ltd listed at ₹271 on 11 September, a premium of 179% over the issue price of ₹97.
Baheti Recycling Industries Ltd (167%), Oriana Power Ltd (156%), and Infollion Research Services Ltd (155%) came next. Among mainboard IPOs in the period, the best-performing ones in terms of listing gains were Ideaforge Technology, which listed at ₹1,305 on 7 July, a premium of 94%, Netweb Technologies (89%), and Aeroflex (83%).
Also on the list was Utkarsh Small Finance Bank, which had issued shares at ₹25, opening at ₹40 on 21 July, clocking a remarkable premium of 60%. According to a report by EY India on 1 November, the small and medium enterprises segment of the IPO market recorded significant success in Q3 2023, raising $165.76 million through 48 IPOs.
The strong performance of the SME IPO market was one of the factors driving India's overall IPO market to a record-breaking quarter. In Q3 2023, a total of 21 IPOs were launched on the mainboard, raising $1,770 million, a significant increase of 376% over $372 million in Q3 2022.Read more on livemint.com