The IPOs in the year 2024 have recorded a significant increase in India; since many companies have been effective in entering the stock market.
In the early phases of the present financial year some companies have shown great speed in grabbing attention due to their impressive post listing performance. The standout performance of these prominently rising stocks are carefully watched by investors.
Here Below The List Of Top 10 Best-Performing IPOs in India in 2024
| Rank | Company Name | Industry |
| 1 | Jyoti CNC Automation Limited | Machine Tools and Automation |
| 2 | Nova AgriTech Limited | Agricultural Commodities |
| 3 | Medi Assist Healthcare Services Ltd | Health Insurance Administration |
| 4 | Maxposure Ltd | Media and Entertainment |
| 5 | Konstelec Engineers Ltd | Engineering |
| 6 | Motisons Jewellers Ltd | Jewellery Retail |
| 7 | Kalyani Cast-Tech Ltd | Castings and Forgings |
| 8 | Rockingdeals Circular Economy Ltd | Waste Management |
| 9 | Amic Forging Ltd | Forgings |
| 10 | Trident Techlabs Ltd | Chemicals |
Jyoti CNC Automation Limited
Source: Google Images
Jyoti CNC Automation Limited is one of the prominent manufacturers of machine tools and automation solutions witnessed a significant uptrend in its share price post-listing, 77.16% PT, was achieved as of January 16, 2024.
The latter is known as Jyoti CNC Automation Ltd, the shares of which opened on the stock exchanges at Rs 372 ( premium of 12.39 % over the issue price of Rs 331/share on the BSE) Equally, the stock took off its maiden trade with a premium of 11.78% at Rs 370 on NSE.
The listing for Jyoti CNC is tied to market forecasts, as over the top of the grey market prior to the listing the stock was considered to be at a premium of Rs 38-40 per share, potentially representing a 11-12% gain for investors. Notably, during the IPO bidding process, the unofficial market premium nearly amounted to Rs 100 per share.
The Initial Public Offering (IPO) of Jyoti CNC Automation closed with a price tag of Rs.321- 331 per share in lot size of 45 shares. The IPO subscription window opened on January 9 and closed on January 11, raising a significant amount of Rs 1,000 crores through the primary offering which involved issuing more than 3.02 crore equity shares.
The IPO was rock solid across the board, overall investing 38.53 times. A subscription rate of 44.13 times was observed in the QIBs; a subscription rate of 36.48 times was recorded in the non-institutional investors while the retail investors and employees subscribed at rates of 26.17 times and 12.47 times respectively.
Nova AgriTech Limited
Source: Google Images
Nova AgriTech Limited, a progressive firm focusing on agricultural products growth and popularization, recorded outstanding growth in share price spanning to 58.05% two days after its debut, January 31, 2 024.
Nova AgriTech’s IPO operated from the 23 th January to 25 th January at the price band of Rs 39-41 per share. They were able to collectively manage to raise a combined amount of Rs143.81 cro, through their primary source, having performed a pipedrive to fresh share sale of value to be equivalent to Rs 112 cro and an OFS consisting of up to 77.58 lakh equity shares. This strategic fundraising initiative stems from the determination of Nova AgriTech to place capital infusion as one of its primary focuses, which simultaneously reaffirms the confidence that investors have placed on the company’s growth projections.
Medi Assist Healthcare Services Limited
Source: Google Images
Following its listing on Jan 23, 2024, the shares of Medi Assist Healthcare Services Limited – a company offering health insurance administration services – rose by a significant 16.28%.
In 2002, Medi Assist Healthcare Services Ltd started as a company focused on health and insurance technology. They help employers, individual customers, and public health programs with their health benefits. The main clients are insurance companies that create health insurance plans. The company provides medical insurance and cashless hospitalization through a network of healthcare providers. Besides that, they also work as a middleman between insurance companies and their customers. They also connect insurance companies with hospitals for approval and claims. Medi Assist Healthcare Services Ltd also manages government health programs and their beneficiaries. They collaborate with 36 insurance companies in India and other countries.
Maxposure Ltd
Source: Google Images
Maxposure Ltd, a reputed media and entertainment corporation, received a significant boost in terms of share price with a whopping rise of 128.33% after listing on January 23, 2024.
Maxposure Limited is a top player in the modern media and entertainment business, particularly focusing on aviation. They provide a wide range of services on various platforms, always striving for quality and using the latest technology. Maxposure specializes in tailored solutions and has four main areas: Inflight Entertainment, Content Marketing, Technology, and Advertising.
They work with both government and private clients in India and worldwide. Maxposure Limited has partnered with leading names in the aviation and travel industry, such as IndiGo, Air India, Gulf Air, Air Arabia, Incredible India, Madhya Pradesh Tourism Board, Ministry of External Affairs, Oberoi Hotels and Resorts, and the Taj Group of Hotels, among others.
Konstelec Engineers Ltd
Source: INDMoney
On the 30th of January, 2024, Konstelec Engineers’ Initial Public Offering (IPO) was spectacularly launched with a listing premium of 200%. Posting a strong start, the stock settled the initial trading on a 5% upper circuit over base. Impressively the stock settled well above the IPO issue price but above the LP at the day’s close.
Significant is the IPO’s groundbreaking performance, being perfect, considering that there was quite little broad market assistance. The same day, in the face of a significant Nifty correction of – 216 points and a – 802 point drop in the Sensex, Konstelec Engineers showed a strong performance. This is all the more important in the wake of the recent volatility in the market where the Nifty witnessed fluctuations but managed to hold above the 21,500-mark throughout the week which is critical for market participants.
Motisons Jewellers Ltd
Source: Reddit
Motisons Jewellers Ltd, a renowned jewellery retailer raised its share price greatly by 55% shortly after it got listed on December 26, 2023.
Motisons Jewellers Limited started in October 1997. They sell different kinds of jewelry, like gold, diamond, and kundan jewelry, as well as pearls, silver, platinum, and other metals.
They have a variety of products with traditional, modern, and combination designs for different occasions like weddings, celebrations, or everyday use. They cater to all ages and genders and offer products in various price ranges.
Motisons Jewellers has a vast collection of over 300,000 designs in gold, diamonds, and other materials at different prices.
Their main store, Motisons Tower, is in Jaipur, Rajasthan, offering silver, gold, and diamond jewelry on three floors. They also opened a new branch in 2021 in Vaishali Nagar, Jaipur, catering to the southwestern part of the city.
Kalyani Cast-Tech Ltd
source: Kalyani Cast-Tech Ltd
Dichotomy from this is that Kalyani Cast-Tech Ltd, who in this context is a major producer focusing on castings and forgings, on the 17 th of November 2023 had its shares price significantly increased 139% after it got listed.
Kalyani Cast Tech Ltd stands as an esteemed ISO 9001: 2008 certified casting unit supported by an internal machine shop. The high standard, which we aspire to be, is evident from the possession of high-tech equipment, elaborate testing facilities and chemical instruments with quality experts.
In strict adherence to Class A foundry standards as outlined in IS 12117: Lastly, we have separted ourselves as a trustworthy entity with capabilities to satisfy the varitie casting needs of our customers well as this is affirmed in 1996 (reaffirmed 2007) we are reliable entity having capacity to address the various needs of our clientele.
In terms of production we are able to produce castings at a large spectrum the castings conforming to the Indian as well as International Standards/specifications. The most renowned clients having contracts with us are the groups of national prestige like Indian Railways, mining, cement, chemical and fertilizer plants, power companies.
Adding stability, consistency, and finesse to our manufacturing process, our process assumes the No-bake system of moulding, carrying an automatic sand plant in charge of everything from knock out, screening, cooler to the delicate mixing of sand.
Taking up a promise for strict processes and effective means, Kalyani Cast Tech Ltd guarantees the manufacturing of castings that prove better than standard expectations of our customers.
Rockingdeals Circular Economy Ltd
Rockingdeals Circular Economy Ltd – a renowned waste management company – saw a superlative rise on its share price post its IPO issuance on November 30, 2023 shooting up a whopping140% from the previous price of£3.49 despite its listing price of £ 3.2.
In a quest to get an enlargement of capital, the company is tactically intending to raise Rs 21 crore by issuance of fresh shares.
Rockingdeals, headquartered in Faridabad, operates as a B2B sourcing platform specializing in unboxed, selectively refurbished, and surplus inventory products within the consumer retail sector.
Amic Forging Ltd
Source: Chittorgarh.com
In December 6, 2023, Amic Forging Ltd – a renowned producer of forgings enjoyed a significant jump in its share price, recording an impressive 69% increase after listing.
As such, an Indian firm, namely AMIC Forging Limited, competes effectively as one of the leading manufacturers of Open Forgings. Known for our quality and accuracy, we are in the business of manufacturing precision machined components, heat treated to the specification of the customer and to standard, by recognized national and international standards. Our customers come from varied sectors like Heavy Engineering, Steel, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement, Sugar and allied industry.
Our capacity to weave at AMIC Forgings their cutting-edge products encompasses processing diverse forging elements as per strictest international specifications including AISI, BS, IS, DIN, etc. We have a wide range of products for sale including commonly sold items like Rounds, Shafts, Blanks, and other fully engineered spare parts like Gear Couplings, Hubs, Rounds, Flanges, and so on, all tailor made to suit customer requirements. The raw materials of our manufacturing processes include carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloys and hence, the products we manufacture last long and have high quality.
Trident Techlabs Ltd
source: Trident Techlabs Ltd
Trident Techlabs Ltd which is in the manufacturing sector with a focus on chemistry, saw a major increase of its stock price after being listed on 22nd December, 2023, gaining a commendable 417.57%.
Transformative business results are a reality at Techlabs since it draws from decades of deep industry experience; “Business through Technology” is an all-encompassing view which embraces both strategic and operational workflows. Our passion is to help clients build robust and profitable businesses. Through Techlabs’ presence across the country and more than 150 dedicated engineers and professionals the company has become a dynamic corporate body. Our multidirectional development work aims at finding harmonious coexistence of growth spurts and ultimate customer satisfaction.
Conclusion
In conclusion, the Indian IPO market in 2024 reflects a diverse range of successful companies across various sectors. The substantial listing gains, robust demand during subscription periods, and resilience to market fluctuations highlight the confidence and interest investors have shown in these companies, contributing to the overall vibrancy of the Indian stock market.
