Samvat 2080 IPO scorecard: Here are the top performers and underachievers

Samvat 2080 has emerged as a transformative year for India's primary market, with as many as 332 companies going public, reflecting favourable investor interest and heightened corporate confidence, reshaping the landscape of the Indian equity market.

 

Among the key listings, Hyundai Motor India led with the largest-ever public offering in India, while Waaree Energies made headlines by receiving 93.04 lakh applications, the highest in Indian market history, surpassing the previous record held by Bajaj Housing Finance, which went public in September this year. Another notable IPO was Tata Technologies, marking the first offering from the Tata Group in two decades since Tata Consultancy Services’ 2004 listing. Tata Technologies also attracted one of the highest applications this year.

 

Notably, Waaree Energies is set to debut on the BSE and NSE on Monday, October 28, 2024.

 

While Bajaj Housing Finance, and Tata Technologies rewarded investors with significant gains on listing, Hyundai Motor India disappointed with a 1 per cent discount on debut.

 

That said, in terms of returns, the spotlight this year was on Small and Medium Enterprises (SMEs), which delivered exceptional performance by securing the top five spots in the list of companies that went public and have generated the highest returns since then. 

 

This was led by Trident Techlabs with a return of 1785.71 per cent, followed by Owais Metal and Mineral Processing (1279.31 per cent), Amic Forging (907.38 per cent), Australian Premium Solar India (856.76 per cent), and Alpex Solar (643.48 per cent). The state-owned Indian Renewable Energy Development Agency (IREDA) also featured prominently, securing the 7th spot with a 526.31 per cent return. 

Source: Bloomberg data | Compiled by: BS Research Bureau

   

 

However, not all SME listings fared well. The bottom five worst-performing IPOs, all from the SME segment, saw significant losses. Finelistings Technologies, Micropro Software Solutions, Vrundavan Plantation, Baweja Studios, and MVK Agro Food Products posted declines of 54.30 per cent, 56.79 per cent, 57.36 per cent, 58.33 per cent, and 62.42 per cent, respectively.

 

Source: Bloomberg data | Compiled by: BS Research Bureau