June 19, 2024

IPO News

The Hits & Misses- IPOs of the Samvats & Missed- IPOs of the Samvat

The Samvat 2078 primary market was mixed, with investors getting mixed returns from many IPOs at the time. Some counters have been multibaggers and others wealth destroyers since being listed on the bourses. Out of the 41 IPOs until October 20, 30 made investors richer, keeping the bias positive. Samvat 2078 saw over 40 companies being listed and raising over INR 90,340 Crores according to Ace Equity. This survey did not consider the listing of Patanjali Foods’ Ruchi Soya FPO.

Mixed signals from abroad and at home have made IPO markets volatile for a long time. Liquidity tightened globally, leading to stock price volatility. As of October 20, Samvat 2078, five companies had returns over 100%, seven had returns in the range of 50 to 95 percent and six stocks lost over 30%. First-year gainer NSE -1.45% led Samvat 2078. On Thursday, October 20, Adani Group’s FMCG arm rose 203% from its IPO price of Rs 230 to Rs 695.95. NSE -0.85% (up 147%), Data Patterns (up 132%), Venus Pipes & Tubes (123%), and Campus Activewear (117%) were also among the stocks with high returns.

Since listing, Metro Brands, Electronics Mart India, NSE 0.70%, and NSE 0.29% have all gained 55–95%.

Investors delivered returns from all IPOs that raised over Rs 5,000 crore in India, with the exception of NSE -1.82% and Paytm 2.96%. NSE 4.73% and -2.59% fell 55%, while NSE 1.50% and -1.77% fell 30-40%. The largest IPO was LIC’s Rs 20,550 crore offering, followed by One97 Communications’ Rs 18,300 crore IPO. FB Fintech was another mega issue (Rs 5,952 crore).

Despite some new digital companies losing money, they were able to get listed and do well because there was a lot of money in the market, Hem Securities senior research analyst Aastha Jain said.

Smaller companies that raised between Rs 125 crore and Rs 200 crore saw significant investor returns this Samvat, while larger companies such as Paytm, Fino Payments Bank, and FB Fintech lost investors. This may be due to the lower number of shares being up for grabs and price band ticket size driving the market. It is anticipated that the primary markets will remain strong in the Samvat. According to Abhishek Jain, this indicates that the market is favoring more financially secure companies and is likely to remain bullish in the near future.

The market for IPOs in Samvat 2079 will focus on Indian companies, with Bharat FIH, JSW cement, NSE, and NCDEX being some of the biggest issues. The market will also focus on consumption-based companies.

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