Tata Tech Best IPO Of The Year; 48 Mainboard IPO Debuted In YTD; 8 Stocks Give 100-200% Returns Since Listing

It's the last month of the year, and two IPOs namely DOMS Industries and Inox India are to enter the primary market this week. These two are mainboard IPOs and the first ones for December. The year 2023 has been remarkable for the mainboard IPO market with 48 companies debuting till November 30, 2023, and the majority of them have given healthy returns since their listing. Tata Group-backed Tata Technologies is a star performer. Notably, 8 IPOs have emerged as multibaggers since listing, giving 100-200% returns.

As per BSE data, 105 IPOs entered the market in 2023 so far. Of which 48 IPOs were in the mainboard and 57 IPOs were SMEs. Compared to their issue price, 90 of these IPOs have gained, while 15 of them are below their issue price. But since listing, 83 IPOs of the total have gained and 22 IPOs are in red.

Coming to the mainboard, of the 48 IPOs, Tata Technologies is the best IPO in both terms of listing gains and stock performance till November 30. Tata Group's first IPO in 19 years did not disappoint investors. From the Rs 500 issue price, Tata Tech is listed at 140% premium, which is the highest among all mainboard IPOs in 2023. And not just that, Tata Tech IPO rallied to hit a new 52-week high of Rs 1,400 on its listing day, rising by as high as 180% from the issue price. However, Tata Tech's closing price stood at Rs 1,314 on its listing on November 30th, which resulted in 163% gains --- also the highest among others.

Tata's IPO recorded oversubscription by 69.43 times with bids of 312.65 crore equity shares against its offered size. At the upper price band, the bids received are worth over Rs 1.56 lakh crore. The IPO was available from November 22nd to 24th.

Moving on, as per Axis Securities IPO market data till November 30, 2023, also revealed that Tata Tech's IPO is not the only one to log triple-digit returns after listing.

IREDA which listed just a day before Tata Tech on November 29th, gained 104% by the end of November 30. The stock is listed at a 56% premium. IREDA IPO opened on November 21st and closed on November 23rd. The public offer oversubscribed by 38.80 times.

Further, Plaza Wires which was listed on October 12th also at a premium of 56%, gained by a huge 102%. The company launched its IPO from September 29th to October 5th, and oversubscribed by a huge 160.97 times.

Also, on the list of multibaggers was EMS Ltd which has gained by a huge 107% till November 30th after listing. The stock debuted at a 33% premium on September 21, after launching its IPO from September 8th to September 12th. The IPO subscribed by 76.21 times.

Another multi-bagger is Vishnu Prakash R Punglia who has rallied by 105% till November 30 after listing on September 5th at a premium of 65%. Vishnu IPO was open from August 24-28, and oversubscribed by 87.82%.

Furthermore, a couple of small finance banks have also been listed in 2023, and Utkarsh Small Finance Bank emerged as a multibagger with gains of 101% till November 30, after debuting at a premium of 60% on July 21. Utkarsh IPO opened on July 12 and closed on July 14. The issue overall subscribed by 110.77 times.

Meanwhile, Senco Gold also gained by 127% after listing at a 36% premium on July 14. The company launched its IPO from July 4th to July 6th and oversubcribed by 77.25 times.

Finally, Cyient DLM is the second-best IPO of 2023 with gains of up to 145% after listing till November 30th. The stock debuted at a 51% premium on July 10th, after receiving an oversubscription of 71.35 times in its IPO launch from June 27th to 30th.

In FY24, so far, data from Axis Securities showed that the BSE IPO market has outperformed both benchmarks Sensex and Nifty in percentage terms.

BSE IPO gained by 54.9% from April to November 2023 versus an upside of 13.6% and 12.4% in BSE Sensex and Nifty 50. This is a reversal in trend as the BSE IPO index had slipped by 25.8% as of March 31, 2023, compared to Sensex and Nifty which gained by 0.7% and 2.6% respectively.

In FY22, the BSE IPO market zoomed 26%, which was better returns than Sensex and Nifty which rallied by 18.3% and 18.9% respectively.