4 Top IPO Which Gives More Than 100% Profit
For the IPO lovers, the FY24 has started with a great start. According to the stats, around 76 companies have Succeeded in raising $62,000 crores through IPO.
So, out of all these companies’ IPOs, which one is the most successful and should be on your list?
Top 4 IPO Performers For 2024
This blog concludes with the top 4 IPO performers who have made a minimum of 100% return on their issue price. The list includes the Indian Renewable Energy Development Agency, Motisons Jewellers, Signature Global, and Netweb Technologies. The list also includes a social 5th addition share at the end as a bonus point.
Indian Renewable Energy Development Agency (IREDA)
Indian renewable energy development has a record of loan growth, which has led to its profit growth and makes it our perfect candidate for 2024 IPO investment options.
IREDA IPO had a 253% surge in the last four months, where the issue price was merely Rs 32, but it rose to a share price of Rs 175 per share.
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As of now, it has a market cap of Rs 46.83 Trillion Crore. Today, the market opened at 182, and by far, the lowest share price came out to be around 170.85.
Signature Global (India) Ltd
The signature price IPO price rose around 252%. It happened because of the government’s focus on housing and all. The initial issue price was around Rs 385 per share, and it rose to Rs 1,359.2 per share.
It has a market cap of Rs 19.01 Trillion Crore, and the day opened with an initial value of 1,348.
Netweb Technologies India
The returns on this IPO came out to be 221%. The new IPO rose to Rs1,814.75 earlier, where the issue price was only about Rs 500 per share.
Netweb’s market opened with a price of Rs 1,664 and has a market cap of Rs 9.36 Trillion Crore.
Motisons Jewellers
Within a few months of Motisons Jewelers IPO listing in 2023, the IPO price had surged by 191%, and now it is worth around Rs 169.60. Motisons Jewellers had the issue price of Rs 55 only.
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It has a market cap of Rs1. 64 Trillion crores and is currently trading at Rs 167. This year, the price range has been between Rs 88.85 to Rs 248.15.
Cyient DLM
Cyient DLM is a bonus IPO for the readers. It had a 171% return this year when the stock rose to Rs869.80 per share, where the issue price was only Rs 265.
It has a market cap of Rs 5.58 Trillion Crore with the current value of Rs 703. For this year, the price range for Cyient DLM shares is between Rs 403 to Rs883.80.
Conclusion
A few other IPO shares are next on this list, including Tata Technologies, Azad Engineering, and Concord Biotech, which has a 100% plus return in this FY24 session.
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