Updated: Nov 8
Although secondary Market was down around 2.5% in last month, the primary market has been one of the shining lights in the investment arena this year with a bumper rush of public offers and healthy listing gains. Six IPOs have turned multibaggers, with the highest return of over 300% by Kaynes Technology. The other offers which have delivered over 100% returns till date include Plaza Wires, Cyient DL, Global Health, Senco Gold and Utkarsh Small Finance Bank. While Plaza Wires is up about 163% from its offer price, Cyient DLM and Global Health are each trading 140% higher. Netweb is currently trading 59% above offer price. Source : Economic Times
Out of the 55 issues that hit the Street this Samvat, there is about 90% strike rate with 49 of them currently trading above the offer price.
Only six IPOs -- Uniparts India, Inox Green, Yatra Online, IRM Energy, Updater Services and Elin Electronics -- have suffered the wrath of markets. Ein Electronics is the worst of the lot with the current market price 30% below the issue price. In view of the rising interest rate, many companies are lined up to raise funds from stock market. Over 20 companies are sitting with approvals from Sebi, which are still valid and nearly 50 companies are awaiting final observations from the regulator. Some of the marquee issues that could be expected in the next few months include the Tata Technologies IPO, which could be launched as soon as this month. Other companies like Western Carriers, Fincare SFB, Ebixcash among others are also looking to come up with their IPOs in the next few months. Most of the upcoming IPOs will depend on the state elections scheduled this year and later the big general elections. IPOs from Tata Technologies and Haldirams will be eagerly awaited by investors going ahead.
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