1st half of 2023 has been fairly pleasant and noise-free when it comes to the IPO market with 7 out of 9 stocks giving listing gains and also positive YTD returns so far.
While this is great, The optimism and bull market in the broader market is slowly spreading to the IPO markets.
Coinciding with the market rally, Mankind pharma started off with 32% listing gains and IKIO lighting gaining 41% on debut and giving 61% returns within a span of couple of weeks.
The optimism for the upcoming IPOs is visible as IdeaForge IPO got subscribed more than 3x times within few hours and it is possible that the market may show similar enthusiasm for Cyient DLM’s IPO as well.
IPO Performance - Calendar year 2023
| Company | Price | Listing price | Listing gains | CMP | Returns so far |
|---|---|---|---|---|---|
| IKIO Lighting Limited | 285 | 403.75 | 41.67% | 461 | 61.75% |
| Nexus Select Trust REIT | 100 | 104.26 | 4.26% | 106.4 | 6.40% |
| Mankind Pharma Limited | 1080 | 1424.05 | 31.86% | 1704 | 57.78% |
| Avalon Technologies Limited | 436 | 397.45 | -8.84% | 518 | 18.81% |
| Udayshivakumar Infra Limited | 35 | 31.5 | -10.00% | 30.5 | -12.86% |
| Global Surfaces Limited | 140 | 170.9 | 22.07% | 195 | 39.29% |
| Divgi TorqTransfer Systems Limited | 590 | 605.15 | 2.57% | 853 | 44.58% |
| Sah Polymers Limited | 65 | 89.25 | 37.31% | 97 | 49.23% |
| Radiant Cash Management Services Limited | 99 | 104.7 | 5.76% | 94 | -5.05% |
Will we see a 2021 level frenzy in IPO markets in the second half of the year? It can all change with one bad news but so far it looks promising.
