Newly Listed Stocks in 2024: Top 10 Best-Performing Mainboard IPOs Deliver Up to 275% Returns

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.