The financial year 2024 saw significant increase in the number of IPOs in the primary market compared to financial year 2023. Most IPOs in fiscal year 2024 witnessed substantial subscriptions and positive market movements during their listing days as S&P BSE IPO index surged 69%.
IREDA is the second public sector undertaking (PSU) to enter the primary market and its share price has soared by 324.7%. Signatureglobal (India) gained 253% from its IPO price of ₹385 and is ranked second on the list.
With a 221.5% return from its IPO price of ₹500, Netweb Technologies is ranked third on the list while Motisons Jewellers rose by 191.0% from its IPO price of ₹55 and is ranked fourth on the list. Cyient DLM jumped 171.8% from its IPO price of ₹265 giving it the fifth rank on the list.
Thirteen issues gave investors multibagger returns out of the 78 IPOs listed in FY24. These were:
