Top 5 IPOs with highest listing day gains in 2024
The year 2024 has seen a surge in initial public offerings (IPOs) by Indian companies, with over 50 new stocks making their debut on the National Stock Exchange of India (NSE). Among these, Vibhor Steel Tubes, BLS E-Services, Primere Energies, and Bajaj Housing Finance have emerged as the top performers. They recorded impressive listing day gains of over 110%, with Vibhor Steel Tubes making a blockbuster market debut with a premium of over 180% in February this year.
Vibhor Steel Tubes leads with 181% gain
Vibhor Steel Tubes Ltd., a prominent manufacturer of high-quality steel tubes and pipes, tops the list with an impressive 181% gain on its listing day. The company's IPO was worth ₹72.2 crore and received the highest subscription among all IPOs launched this year, being subscribed nearly 300 times. Despite a subsequent market correction, Vibhor Steel's share price remains up by nearly 75% compared to its issue price of ₹151 per share.
BLS E-Services listed with 126% gain
BLS E-Services Ltd., a digital service provider to major banks in India, secures the second spot with a listing day gain of 126%. The company's ₹311-crore IPO was oversubscribed nearly 163 times in January 2024. The listing happened in early February. Despite not being able to maintain its initial momentum, BLS E-Services's stock currently trades at about 93% higher than its IPO price of ₹135 per share.
Premier Energies and Unicommerce eSolutions made strong debuts recently
Premier Energies, a leading solar solutions provider, made an impressive debut on the stock market on September 3. The company's shares were listed at ₹991 each, marking a substantial premium of 120% over the IPO price of ₹450 per share. Unicommerce eSolutions Ltd., a provider of SaaS products for e-commerce fulfillment operations, made a strong debut on August 13 with a listing day gain of 118%. The company's ₹276.6-crore IPO was oversubscribed over 168 times.
Bajaj Housing Finance rounds off top 5
Bajaj Housing Finance made a robust entry into the stock markets today, with its shares debuting at a 114% premium over the IPO price. The shares listed at ₹150 apiece on NSE, a premium of 114.29% to the issue price of ₹70 per share. The ₹6,560-crore IPO of Bajaj Housing Finance received an overwhelming response last week, with subscriptions totaling a record ₹3.23 lakh crore.
