FY24: A rewarding year for investors who put their money in IPOs

The S&P BSE IPO Index, a gauge tracking the after-listing performance of newly listed companies, has risen by 69 per cent in this financial year

Financial year 2023-24 (FY24) has turned out to be a rewarding one for investors who put their money in initial public offerings (IPOs).

Eighty per cent, or 60 of the 75 companies that made their debut on the mainboard this financial year, ended their listing day with gains.

The average first-day gains stood at 28 per cent. Meanwhile, over 70 per cent, or 55 stocks, are still trading above their issue price.

Also, the shares of over 12 companies that listed following an IPO have more than doubled. If one includes the issues of small and medium enterprises (SMEs), the