IPOs in January: Top performers and failures as 22 companies hit Dalal Street

In January 2024, 16 companies have already made their IPO debut on Dalal Street while an additional six companies are scheduled to list this month taking the total number of new listings to 22. Of these companies, 14 fall under the SME category while the remaining two represent listings from mainline category.

IPOs in January: IPO stands for Initial Public Offering.
IPOs in January: IPO stands for Initial Public Offering.

Who stood at the top in IPO performance?

Kay Cee Energy & Infra stood at the top of the heap. It is currently trading at 295.95 apiece- 447% higher than its IPO price of 54. At the second spot is Maxposure Australian Premium Solar (India) followed by Shri Balaji Valve Components and Akanksha Power and Infrastructure. All of these are trading with gains ranging from 130% to 276% from their respective issue prices.

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Which IPO is not doing well?

Sameera Agro and Infra stock is trading 35% below its IPO price of 180 apiece.

What are the upcoming mainline IPOs?

A significant number of mainline IPOs are expected to list this year including Ola Electric which has taken the first step by submitting its initial draft papers to the Securities and Exchange Board of India (SEBI) for an IPO. Omnichannel retailer FirstCry also entered the IPO arena as it filed draft documents for an initial public issue. Aakash, which was acquired by the prominent ed-tech firm Byju in 2021, may also launch its initial public offering (IPO) by mid-2024.

PhonePe may also aim for an initial public offering in the 2024–2025 timeframe while Swiggy is poised to make its debut on the public market in 2024. PayU India is also expected to be prepared for an initial public offering by the latter half of 2024. MobiKwik. Awfis Space Solutions, Unicommerce, Oyo, and PharmEasy may also unveil their respective IPOs this year.

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