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Of 37 IPOs launched in FY23, only 2 gave multibagger returns

FY23 was not a great year for IPOs with the number of IPOs declining 30% YoY to 37 from 53 in FY22.

Of the 37 IPOs listed in FY23, only 2 stocks gave multibagger returns, rising over 100% from their issue price.


Meanwhile, 22 are trading above IPO price with 16 of them giving over 10% returns. However, 15 are trading at a discount.

Shares of Hariom Pipe Industries have surged 246% to rupees 530.6 from its IPO price of rupees 153.

Venus Pipes also rallied 177% to rupees 903 as against its IPO price of rupees 326.

Apart from these, Archean Chemical and Kaynes Tech are trading over 60% higher each from their IPO prices.

LIC, which was the largest-ever IPO in the Indian market, was one of the worst performers in FY23, down 40% versus IPO price.

Elin Electronics was the only stock listing in FY23 that performed worse than LIC. It fell 45% from its issue price.

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IPOs in FY23

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Of the 37 IPOs listed in FY23, only 2 stocks gave multibagger returns, rising over 100 percent from their issue price. Meanwhile, 22 are trading above their issue price and among those, 16 have given over 10 percent returns. However, 15 are trading at a discount.

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Of 37 IPOs launched in FY23, only 2 gave multibagger returns

Of the 37 IPOs listed in FY23, only 2 stocks gave multibagger returns, rising over 100 percent from their issue price. Meanwhile, 22 are trading above their issue price and among those, 16 have given over 10 percent returns. However, 15 are trading at a discount.

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