The mainboard IPO market witnessed a slump in April due to market volatility, election season, and foreign investment outflows. Only 3 issues were listed, with 2 trading above their IPO prices. Overall, 25 mainboard IPOs have listed in 2024 YTD.
The IPO market is likely to witness a robust capital raise even in 2024 as more than 65 IPO documents are filed with Sebi, Kotak’s Chouhan said. All eyes would be on Swiggy, Firstcry, Ola Electric, Oyo and Portea Medical, Chouhan said.
Six IPOs have turned multibaggers in Samvat 2079 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.
Western Carriers (India) Ltd, the country’s largest multi-modal asset-light logistics company, had submitted its draft red herring prospectus (DRHP) with SEBI in June.