From EMS to Cyient DLM, these 7 newly-listed stocks command up to 160% premium over issue price

Stock market news: The primary market has been abuzz, with a total of 31 issues hitting the street in the first half of 2023–24, raising Rs 26,300 crore. This is 26 per cent lower in comparison to Rs 35,456 crore mopped up by 14 IPOs during the same period last year, according to the country’s premier database on the primary markets, primedatabase.com. However, if LIC’s mega IPO, which took place last year, is excluded, fundraising through the route surged by a massive 76 per cent.

So, as India Inc. continues to aggressively take the IPO route for fund mobilisation, here is a list of the recent debutants that are trading at a hefty premium over their issue price.

EMS Limited: The issue of the waste-water collection, treatment, and disposal services company was listed on the bourses on September 21. As against the issue price of Rs 211, the stock last traded at a price of Rs 318.5, signifying a premium of 51 per cent.

Concord Biotech: The issue of the biotech entity was opened between August 4 and August 8, while it made its market debut on August 18. In comparison to the issue price of Rs 741, the stock last commanded a premium of 55 per cent while trading at a price of Rs 1,150.45.

Mankind Pharma: The largest issue during the period under review was from the pharmaceuticals and drug major (Rs 4,326 crore). The company’s scrip was listed on May 9. Considering the current market price of Rs 1816, the stock trades at a premium of 68 per cent over the issue price of Rs 1,080.

Netweb Technologies: The issue of the country’s leading high-end computing solutions (HCS) provider made its D-Street debut on July 27. The stock trades with gains of over 75 per cent at Rs 877.5 as against its IPO issue price of Rs 500.

Senco Gold: Shares of the Kolkata-based jewellery retailer currently trade at Rs 657.95. This is a substantial premium of around 108 per cent as compared to the issue price of Rs 317. The company made its market debut in mid-July.

Utkarsh Small Finance Bank: After the strong listing, shares of the lender are currently commanding a decent 121 per cent premium as against the IPO issue price of Rs 25. The stock currently trades at a price of Rs 55.25.

Cyient DLM: The IPO of the integrated electronic manufacturing services (EMS) and solutions provider Cyient DLM made its market debut on July 10. From the IPO issue price of Rs 265, the stock has headed higher in price to Rs 686.85, implying significant gains to the tune of 159 per cent. Cyient DLM Ltd is a subsidiary of Cyient Ltd.