5 Mainstream IPOs of CY 2024 that have yielded up to 128% return for its investors

Though fund mobilisation through the public issue logged a 19 per cent increase in FY24, the outlook for the CY 2024 remains strong as pointed out by the PRIME Database report. The report on its outlook for the primary market said 19 companies proposing to raise nearly ₹25,000 crore are presently holding SEBI approval while another 37 companies looking to raise about Rs 45,000 crore are awaiting SEBI approval (Out of these 56 companies, 9 are NATCs which are looking to raise roughly Rs 21,000 crore. According to Pranav Haldea, Managing Director, of PRIME Database Group, despite the upcoming general elections, the next couple of months should still see a few IPOs being launched.

So, here are the IPOs of CY which grew investors' funds significantly over the issue price:

Jyoti CNC Automation:

The company engaged in manufacturing metal cutting computer numerical control (CNC) machines made its market debut on January 16. The company offered shares at an issue price of Rs 331 per share and given the current market price of Rs 740.9, the stock has climbed 124 per cent over the issue price.

BLS E-Services:

The company and its subsidiaries are leading integrated technology-enabled service providers, providing Business Correspondents services to major banks in India and other value-added services to the citizens at the grassroots levels across 28 states in India and E-Governance services across 5 states in India. Shares of the company made their D-Street debut on February 6 at a listing price of Rs 309. As against the IPO issue price of Rs 135, the stock has reaped a return of 128 per cent, as it trades at Rs 307.9 per share.

Exicom Tele Systems:

This stock which hit the street on March 5 has more than doubled investors' wealth by rising significantly over the issue price of Rs 142 and trades at Rs 284.6, delivering over 100 per cent gains. Exicom offers eco-friendly EV charging & critical power systems for homes and businesses, with 70000+ chargers and 450000 Li-on batteries deployed nationwide.

Vibhor Steel Tubes:

Shares of the company listed on the bourses on February 20 and as against the IPO issue price of Rs 151, the stock has climbed to levels of Rs 296 per share. The stock over the issue price has given a return of 96 per cent to its investors, nearly doubling investors' wealth. The company is a leading manufacturer of high-quality steel tubes and pipes.

Bharti Hexacom:

Bharti Airtel's arm which had a bullish view by quite a few brokerages listed on April 12 and at the current price of Rs 988.15, the stock trades 73 per cent higher than its issue price.