The Indian primary markets have had a spectacular year in 2024, with investor sentiment soaring to new heights. This year has already surpassed expectations, with over 300 IPO listings on the mainboard, a sharp jump from 238 in 2023. Of the 75 mainboard IPOs in 2024, 48 have delivered exceptional returns to investors, with gains as high as 275%. Here’s a closer look at the top-performing IPOs of 2024:
1. Jyoti CNC Automation Limited
Issue Price: ₹331
Current Price: ₹1,243.95
Returns: 275.81%
Debuted in January, Jyoti CNC has been a standout performer, with a listing premium of 12.4%. The stock has soared over 275%, making it a top pick for investors.
2. KRN Heat Exchanger and Refrigeration Limited
Issue Price: ₹220
Current Price: ₹777
Returns: 253.18%
KRN Heat Exchanger saw an impressive listing gain of 118.18% and continues to trade significantly above its issue price.
3. Premier Energies Limited
Issue Price: ₹450
Current Price: ₹1,241.4
Returns: 175.86%
Premier Energies dazzled investors with its strong fundamentals, rallying over 175% since its debut in September.
4. Platinum Industries Limited
Issue Price: ₹171
Current Price: ₹432
Returns: 152.63%
Platinum Industries’ robust growth trajectory has resulted in nearly 93% gains since its March listing.
5. Bharti Hexacom Limited
Issue Price: ₹570
Current Price: ₹1,379
Returns: 141.93%
The telecom giant’s subsidiary attracted significant investor interest, with a listing gain of 32.4% and an 82% rise since listing.
6. JG Chemicals Limited
Issue Price: ₹221
Current Price: ₹434.7
Returns: 96.69%
Despite a lukewarm debut, JG Chemicals has gained over 108% from its listing price, supported by consistent performance.
7. Gala Precision Engineering Limited
Issue Price: ₹529
Current Price: ₹1,017
Returns: 92.24%
Gala Precision Engineering impressed investors with a premium of 41.8% at listing and continues its upward momentum.
8. Exicom Tele-Systems Limited
Issue Price: ₹142
Current Price: ₹277.6
Returns: 95.49%
Exicom Tele-Systems witnessed a stellar debut with an 85.9% premium and has nearly doubled since its IPO.
9. Bajaj Housing Finance Limited
Issue Price: ₹70
Current Price: ₹135.98
Returns: 94.25%
This Bajaj Group company has delivered solid returns since its September listing, despite trading slightly below its debut price.
10. Orient Technologies Limited
Issue Price: ₹206
Current Price: ₹398.45
Returns: 93.42%
With a listing premium of nearly 40%, Orient Technologies continues to generate impressive returns for investors.
The Indian IPO market in 2024 has demonstrated tremendous investor confidence and strong performance from newly listed companies. As these top-performing IPOs highlight, the right picks can deliver extraordinary returns. With the markets continuing to show resilience, the primary market is poised for more action in the coming months.
