According to Trendlyne data, 102 companies have been listed on Indian stock exchanges in CY23 so far. In comparison, during the same period of the previous year, there were 67 new listings, reflecting a substantial year-on-year growth of 52.2%.
Out of 102 listings, 17 belong to the main line IPOs, constituting 16.6%, while the remaining are attributed to SMEs. Notably, among the main line IPOs listed in July, five stocks are currently trading with remarkable gains. These stocks have swiftly generated wealth for their shareholders in a relatively short span of time.
Utkarsh Small Finance Bank emerges as the frontrunner in this lineup. The stock, which went public on July 21, 2023, enjoyed a great debut, opening at an almost 60% premium at ₹40 compared to the issue price of ₹25 per share. Later, it ended the first day with a 92% gain at ₹48.
The stock extended its bull run to date and is up by 106.6% over the issue price. The IPO garnered extraordinary investor interest, receiving oversubscription by a staggering 102 times.
The bank commenced operations in 2017, and its product suite includes a range of deposit products, including saving accounts, salary accounts, current accounts, recurring and fixed deposits, and locker facilities.
Cyient DLM, a subsidiary of Cyient, is next on the list. The stock made a strong entry on July 10, 2023, on the Indian stock exchanges. On its first day of trade, the stock listed with a 58.7% premium at ₹420.6 as compared to the issue price of ₹265. The stock rallied further, and it is up by 87% from its IPO price.
The company is an integrated electronic manufacturing service (EMS) and solutions provider with a focus on the entire life cycle of a product, including design, build, and maintenance. It has over 22 years of experience in developing high-mix, low-to-medium volume highly complex systems.
Ideaforge Technology, the country's leading drone manufacturer, was another stock that entered the bourses last month. The stock made a successful entry on July 07, opening at ₹1,300 apiece, compared to the issue price of ₹672. It then finished the first day at ₹1,295 more than 92% higher than the IPO price.
However, the stock corrected after listing but it is still up by 57% over its issue price.
The ₹567-crore Ideaforge IPO was open for subscription between June 26 and 30 at a price band of ₹638–672. It received robust demand from all sections of investors. It was subscribed to 106.06 times in the four days of bidding.
Ideaforge holds a significant market share of approximately 50% in the Indian unmanned aircraft systems ("UAS") market as of fiscal 2022. The company boasts the largest operational deployment of indigenous drones across India, with an Ideaforge-manufactured drone taking off every five minutes on average for surveillance and mapping purposes, the company said in its DRHp report.
Founded in 2007 by Ankit Mehta, Rahul Singh, and Ashish Bhat, Ideaforge made early strides in the UAV market in India and became the first organization to indigenously develop and manufacture VTOL UAVs in 2009.
Likewise, shares of Netweb Technologies listed on the Indian stock exchanges with a significant premium of 82.1% at ₹947 as against the issue price of ₹500. The IPO received a phenomenal response from investors, as it was subscribed to 90 times during the period from July 17 to July 19. The company shares at their current level are trading 65.2% higher as compared to the issue price.
The company is one of India’s leading Indian-origin-owned and controlled OEMs in the space of HCS, providing supercomputing systems, private cloud and HCI, data centre servers, AI systems and enterprise workstations, and HPS solutions.
In addition, Senco Gold made a strong listing on the bourses on July 14 at a price of ₹405 apiece, a significant 27.9% premium over the issue price of ₹317. The ₹405-crore Senco Gold IPO experienced strong demand from investors, oversubscribed by 36.51 times in the three-day bidding period from July 04 to July 06. The stock at current levels is trading 25.6% higher than its issue price.
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