2023 spells bonanza for IPO investors; only 1 out of 20 in the red

Avg listing day gain 34%; Avg IPO-to-date gain 46%

The calendar year 2023 is turning out to be one  of the best ever in recent memory for initial public offering (IPO) investors.

Water projects firm Vishnu Prakash R Punglia, the 20th company to launch its IPO in the current year, saw its shares closing at a 47 per cent gain over its issue price on Tuesday. Such a huge one-day pop is considered rare; however, it has become the norm this year. The average listing-day gain for these 20 IPOs in 2023 is 34 per cent, and their average gain to date stands at 46 per cent.

Additionally, only one of