IPO Watch: Review of 2023

Initial Public Offerings (IPOs) are a source of buzz and excitement in the financial world, and 2023 didn’t see a shortage of IPOs in India. After China, India had the highest number of IPOs in the calendar year 2023. With a year-on-year increase of nearly 56%, it is the highest annual growth of IPOs in the world. A total of 240 IPOs were available for subscription during the year. This included 58 main board IPOs and 182 small and medium enterprise IPOs.

To begin with, let us look at some of the top-performing IPOs of 2023.

IPOs With Most Listing Gains
Other Top Performers – IPO 2023

A few other companies have capitalised on their moderate listing day gains by performing well during the year. It includes,

Standout SME IPO Performances

Many SMEs have put on a phenomenal display after their listing. Here is a look at a few facts on SME IPOs 2023,

Company Name Listed On Issue Price Listing Day Close Listing Day Gain Current Price Total Gain
RBM Infracon Jan 4, 2023 36.00 55.10 53% 565.55 1471%
Meson Valves India Sep 21, 2023 102.00 203.45 99% 645.00 532%
Gayatri Rubbers and Chemicals Feb 7, 2023 30.00 36.75 23% 190.00 533%
Vishnusurya Projects and Infra Oct 10, 2023 68.00 76.65 13% 443.30 552%
Sahana System Jun 12, 2023 135.00 171.15 27% 810.00 500%
Exhicon Events Media Solutions Apr 17, 2023 64.00 67.20 5% 378.35 491%
Remus Pharmaceuticals May 29, 2023 1,229.00 1,796.80 46% 7,151.00 482%
Srivari Spices and Foods Aug 18, 2023 42.00 106.55 154% 251.55 499%
Bondada Engineering Aug 30, 2023 75.00 149.62 99% 415.50 454%
IPO Response During the Year

The response to the SME IPOs can be gauged from the aforementioned discussion, while mainboard IPOs also enjoyed a good response during 2023. As many as 41 IPOs were oversubscribed by more than ten times, out of which 16 IPOs were oversubscribed by more than 50 times. Nine other IPOs were oversubscribed by more than three times.

13.21 lakh retail investors responded to IPOs on average during the year, significantly more than the 5.66 lakh who averaged in 2022. Tata Technologies received the most retail investor responses, followed by DOMS Industries and INOX India.

A Rewarding Year for Debutants

Across mainboard and SME IPOs, we have seen several success stories in 2023. The investor response and listing gains bounced off each other to showcase a rewarding year for the stock market newcomers. Get ready with the red herring prospectuses of 2024, because it is time to spot the next big thing in the IPO parade!







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