2022 in Review: 10 IPO gainers and laggards of the year; See full list

So far, calendar year 2022 saw about 141 listing of Initial Public Offerings (IPO), however only a handful of listed companies have managed to trade above 200-600% of their issue prices.

Few analysts say that this year's IPOs have been a mixed bag because they think it has been advantageous for the promoters to raise capital and also favourable for existing investors to withdraw.

According to Mohit Gulati, CIO & Managing Partner of ITI Growth Opportunities Fund, some IPOs in 2022 have been very favourable to the market in terms of returns, but a large majority of them have underperformed because of pricing. Overall, though, it's been a muted year for the IPOs.

The new-age technology companies have not given best performance on IPO but traditional companies that left a little money on the table have performed well. 

Gulati believes that promoters of new ventures might not be overly aggressive with pricing and would also leave money for retail investors. As a result, 2023 may prove to be an interesting year for the IPO market.

As per trendlyne data as on Tuesday, December 27 below is the list of top 10 IPO gainers in 2022.

Top 10 IPO Gainers in 2022

Rachana Infrastructure Ltd, which debuted on the stock exchanges on June 13, took the top spot on the list. The company was listed at a premium of 2.7% over the IPO price of ₹135, and closed the day at ₹139.1, a 3.0% premium over the issue price.

On an average, the stock has rallied 112.63% in the six months period. The stock gained 63.62% within a period of one month and continued the same trend till October 25. The stock made 52-week high record on October 27. As of December 27, the stock has gained 675.80%.

The promoter share holding stayed the same in the most recent quarter at 66.03%.

The company is into infrastructure and construction business and its verticals include roads and highways, bridges, mining, irrigation, pipelines, buildings, hydropower project 78, and rental income.

Varanium Cloud Ltd, which got listed on the bourses on September 27, is the second on list. The company was listed at a premium of 7.4% over the IPO price of ₹122, and closed the day at ₹128.6, a 5.4% premium over the issue price.

On an average, the stock has rallied 197.5% in the three months period. Over a period of one month the stock gained 100.85% and continued to its upward trend. The stock recorded 52-week high on December 21. As of December 27, the stock has gained 592.60%.

The promoter share holding remained the same in the most recent quarter at 63.22%.

The company is an India-based technology company, engaged in the provision of digital audio and video content streaming services.

Rhetan TMT Ltd, which takes the third place in the list, debuted on the bourses on September 5. The company was listed at ₹70 similar to the IPO price, and closed the day at ₹66.5, a 5% discount of the issue price.

On an average, the stock has rallied 194.3% in the three months period. On the day of the IPO, the stock was trading at a discount, and the negative trend persisted through September 16. From September 19 onward, the stock began a positive trend and maintained its momentum. On December 27, the stock hit a 52-week at ₹468.50. As of December 27, the stock has gained 582.90%.

The promoter share holding stayed the same in the most recent quarter at 62.12%.

The company is a part of a broad business organisation with a base in Gujarat that is supported by Mr. Shalin Ashok Shah and his family. The group has commercial holdings in a number of industries, including steel, infrastructure, oil and gas, electronics, and chemical products.

Empyrean Cashews Ltd stood at the fourth position. The company was listed on the stock exchanges on March 31. The company was listed at a premium of 13.5% over the IPO price of ₹37, and closed the day at ₹44.1, a 19.2% premium over the issue price.

On an average, the stock has rallied 61.87% in the nine months period. Over a period of three months the stock gained 500.34% and continued its upward trend. The stock hit a 52-week high on June 7. As of December 27, the stock has gained 556.80%.

The promoter share holding remained the same in the most recent quarter at 41.88%.

The company processes raw cashew nuts into finished cashew kernels with various grades and flavours and organic manure.

Cool Caps Industries Ltd, which listed on the bourses on March 24, is the fifth on the list. The company was listed at a discount of 5.5% to the IPO price of ₹38, and closed the day at ₹37.6, a 1.1% discount to the issue price.

The stock was trading at a discount on the day of the IPO's debut, but it started to gain pace. On an average, the stock has rallied 61.11% in the nine months period. Over a period of four months, the stock gained 258.57%. The stock hit a 52-week high on December 21, and recorded a new 52-week high in today's trading session. As of December 27, the stock has gained 550%.

The promoter share holding remained the same in the most recent quarter at 73.53%.

The company produces a large variety of plastic bottle caps and closures, including plastic juice bottle caps, plastic soda bottle caps, and plastic soft drink bottle caps.

The other gainers during the years were Containe Technologies Ltd, Jay Jalaram Technologies Ltd, Jayant Infratech Ltd, Concord Control Systems Ltd, and Krishna Defence and Allied Industries Ltd.

10 IPO Laggards of 2022

On the other side, as per the trendlyne data as on Tuesday, December 27 below are the 10 IPO laggards of 2022.

Pace E-Commerce Ventures Ltd, was listed on the bourses on October 20. The company was listed at a premium of 1.5% over the IPO price of ₹103, and closed the day at ₹109.7, a 6.5% premium over the issue price. The stock lost 64.31% over a period of one month.

The company's stock has fallen 75.81% from 52-week high of ₹120.9 recorded on October 24. From the day of listing the stock has followed a downward trend. As of December 27, the stock has lost 69.90%. The stock recorded a new 52-week low of ₹29.25 in today's trading session.

The company's share price underperformed its sector by 16.09% in the past week. The company offers children's furniture, bedding, housewares, and essentials.

Ishan International Ltd, which listed on the stock exchanges on September 22, was listed at a premium 2.5% over the issue price of ₹80 , and closed the day at ₹82.8, a 3.5% premium over the issue price. Nevertheless, despite trading at a premium on day 1, the stock has been on a downward trajectory.

Over a period of one month, the stock slumped over 32%. The stock has fallen 69.16% from 52-week high of ₹86.1 recorded on September 22. As of December 27, the stock has lost 65.60%.

The company is engaged in contracting and building projects.

AGS Transact Technologies Ltd, which debuted on the bourses on January 31, was listed at a premium 0.6% over the issue price of ₹175, and closed the day at ₹161.3, a 7.8% discount to the issue price. The stock experienced considerable gains in the first few trading sessions following its debut, but it has been trending downward since February 7.

Over a period of six month, the stock slumped over 56.13%. The stock has fallen 64.78% from 52-week high of ₹181.8 recorded on January 31. As of December 27, the stock has lost 62.80%.

The company is an integrated omni-channel payment solutions provider.

Global Longlife Hospital and Research Ltd, a multispecialty hospital operator, which was listed on the stock exchanges on April 5, was listed at a premium 0.8% over the issue price of ₹140, and closed the day at ₹135.3, a 3.4% discount to the issue price. The stock has maintained a downward pace since the start.

The stock has fallen 59.53% from 52-week high of ₹141.1 recorded on May 4. As of December 27, the stock has lost 61.40%.

Silver Pearl Hospitality & Luxury Spaces Ltd, listed on the stock exchanges on June 17 was listed at ₹16, which is at a 11.11% discount to the issue price of ₹18, and closed the day at ₹15.2, a 15.56% discount to the issue price. Since the beginning, the stock has continued to fall.

The stock has fallen 56.25% from 52-week high of ₹16 recorded on June 17.As of December 27, the stock has lost 58.90%.

The company is involved in the hospitality industry and operates in the upper-midscale, midscale, and economy hotel segments of the mid-priced hotel market.

The laggards during the year were Naturo Indiabull Ltd, Fone4 Communications (India) Ltd, Kandarp Digi Smart BPO Ltd, Evoq Remedies Ltd, and Maagh Advertising And Marketing Services Ltd.