Top 10 IPOs of 2023 that Made Investors Rich with Listing Gains

2023 was a landmark year for initial public offerings (IPOs) in India. Several companies saw their stock prices soar on their listing day, generating significant returns for investors. Here’s a look at the top 10 companies that made the biggest splash in 2023, based on their listing day gains:

1. Tata Technologies Limited: This engineering and technology services company topped the charts with a staggering 162.85% listing gain. Investors were keen to get a piece of this well-established player in the IT sector, leading to the impressive surge in its stock price.
2. ideaForge Technology Limited: This aerospace and drone technology company came in a close second with a 92.78% listing day gain. The growing demand for drone technology and ideaForge’s strong position in the market fuelled investor interest in this company.
3. Utkarsh Small Finance Bank Limited: This microfinance lender saw its stock price jump 91.76% on its listing day. The company’s focus on serving unbanked and underserved rural populations resonated with investors, propelling its shares upwards.
4. Indian Renewable Energy Development Agency Ltd (IREDA): This government-backed renewable energy financier witnessed an 87.47% listing day gain. With India’s growing focus on renewable energy, IREDA’s role in the sector attracted significant investor attention.
5. Motisons Jewellers Limited: This jewellery retailer saw its stock price climb 83.96% on its listing day. The company’s strong brand presence and expansion plans in the Indian wedding jewellery market likely fuelled investor confidence.
6. Netweb Technologies India Limited: This IT infrastructure services company’s stock price rose 82.10% on its listing day. Netweb’s expertise in cloud computing and data centre services, coupled with the booming IT sector, likely contributed to this impressive gain.
7. Gandhar Oil Refinery (India) Limited: This oil refinery company’s stock price jumped 78.40% on its listing day. Rising oil prices and Gandhar’s focus on value-added products likely attracted investors to this company.
8. DOMS Industries Limited: This steel and infrastructure company saw its stock price climb 68.46% on its listing day. The government’s infrastructure push and DOMS’s strong presence in the eastern Indian market likely fuelled investor interest.
9. SBFC Finance Limited: This small business finance company’s stock price rose 61.77% on its listing day. The growing demand for credit among small businesses and SBFC’s focus on this segment likely attracted investors.
10. Cyient DLM Limited: This engineering design and manufacturing services company’s stock price gained 58.77% on its listing day. Cyient’s focus on niche engineering segments and its export-oriented business model likely appealed to investors.

These are just a few of the many companies that made waves in the Indian IPO market in 2023. The strong performance of these companies highlights the resilience and growth potential of various sectors in the Indian economy.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.