10 Best IPOs That Saw Robust Listing In 2023

According to statistics from chittorgarh.com, 242 Indian firms made initial public offerings (IPOs) in 2023, including mainboard and SME IPOs. Of them, 57 mainboard IPOs raised around Rs 52,000 Cr, and 182 SME IPOs raised Rs 4967 Cr. The full list of the top 10 IPOs in 2023 that saw strong listing gains on Dalal Street can be seen here.

Top IPOs of 2023

According to Kresha Gupta Fund Manager Director, Chanakya Opportunities Fund, here are the best IPOs of 2023.

Tata Technologies IPO

The most awaited IPO of the year was Tata Technologies. With the brand tag of TATA, this IPO was subscribed 70 times in total, while the QIB category was subscribed 203 times. Though at a slightly high PE, the issue was said to be fairly priced considering the TATA legacy. Listing at Rs.1200, it boasted a markable 140% premium.

Bondada Engineering IPO

A lucratively priced IPO, Bondada witnessed a staggering 112 times subscription. Listing at Rs.142 on the SME platform, it commanded a premium of 90%. The script is still trading at 5x of its Issue price.

Basilic Fly Studio IPO

Basilic Fly Studio was one of the biggest IPOs on the SME platform as it was the first SME IPO which got subscribed 358.60 times. Basilic Fly Studios' share price was listed at Rs 271 per share, 179.4 per cent higher than the issue price of Rs 97 on the NSE SME exchange.

Plaza Wires IPO

Plaza Wires was one of the highest returns-generating IPOs for investors. Listing at 40% premium, the stock soared to 3x of its issue price in less than a month.

Indian Renewable Energy Development Agency

The state-run PSU, IREDA, raised Rs 2,150.21 crore, earning investor trust. Listing at a 56% premium, it affirmed its strong market presence.

Net Avenue Technologies IPO

Subscribed 511 times, Net AvenueTechnologies listed on the NSE at an impressive premium of Rs 42.00 per share, marking a 133.33% increase.

Oriana Power IPO

A 60-crore SME issue, Oriana Power witnessed a subscription of 176 times, listing at a substantial 155% premium at Rs. 302 on the NSE SME.

Inox CVA IPO

With a market monopoly, Inox India's IPO attracted significant participation from QIB investors. Listing at a 44% premium, it opened at Rs. 949.

IdeaForge Technology IPO

Idea Forge made a strong debut, listing at a noteworthy 93% premium over its issue price.

SAR Televenture IPO

Subscribed 288 times, SAR Televentures Limited listed at Rs. 110.25, representing a remarkable 100% premium over the issue price.

Digikore Studios IPO

Abhishek More, Founder & Group CEO of Digikore Studios said 2023 has been a year of remarkable growth and strategic advancements for Digikore Studios. Despite navigating hurdles like the Hollywood strikes, our dedication to delivering top-tier VFX work for renowned platforms like Netflix and Apple TV has been unwavering, marking significant milestones in our creative journey.

In parallel with our creative accomplishments, we're thrilled to announce the successful launch of our IPO, a testament to our industry position and vision. This pivotal move aligns with our expansion into the North American market, where we're establishing ourselves as the go-to episodic VFX studio.

The year saw our revenue soar, surpassing expectations and reaching to achieve our projected revenue of Rs. 50 crores for FY 2023-24. Our IPO launch not only signifies our growth trajectory but also underlines the confidence investors have in our vision and strategic direction.

Looking ahead, our focus on pushing technological boundaries, coupled with our commitment to delivering unparalleled visual experiences, fuels our ambition. With a revenue target set at Rs. 100 crores for FY 2024-25, Digikore Studios is poised for a thrilling journey of expansion, innovation, and market leadership, supported by the success of our IPO.

What are the reasons behind the increasing popularity of IPOs among HNI investors?

Mr. Mukesh Kochar National Head of Wealth at AUM Capital said IPOs are expected to be very successful in a bull market, and we've seen the good quality of the initial public offerings that have taken place. The performance so far has been great on debut. In order to increase the appetite, the introduction of a new slab between 2 Lakh and 10 Lakh and above 10 Lakh has been instrumental. Some of these people who used to apply for 2 lakh have shifted to the 10 lakh or above category. Investors who can earn short-term capital on a listing are also attracted by the premium offered to investors in recent initial public offerings. After two decades, a company like Tata has gone public and it's been greeted with euphoria on the market.

What do 2023 IPO trends indicate about 2024 IPOs in India?

The 2023 calendar year was a great one for the Initial Public Offering market because we had plenty of success stories and run-ups after listing. There is an election year coming up next calendar year and the market can be unpredictable at any time, notably in the first quarter. In the bull market, more initial public offerings took place than in volatile markets. Although we expect a good trend in the market due to good Quarterly numbers along with the flow of liquidity. A lot of good IPOs are in the pipeline for next year and we expect reasonable appetite from HNIs for these, stated Mukesh Kochar.

Will 2024 see more number of IPOs? What are the expected key trends of the 2024 IPO market?

The filing of new IPOs is increasing continuously but all depend on how the market remains in the next calendar year. If the market remains robust like what it is currently then the IPO may surpass current year numbers. At the same time, we expect FIIs to return to India and this will further enhance the possibility of increasing no of IPOs, said Mukesh Kochar.

What is driving the retail investors' sentiment currently in Indian IPOs?

Retail investors are always driven by the euphoria in the market and they are carried away applying all IPOs rather than checking the quality or valuation of the same. The overall bullish sentiment in the market along with talk around them drives them to apply for IPOs.At the same time, recent IPOs have delivered very good returns and prompted retail investors to apply for any new IPOs coming in, according to Mukesh Kochar.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.