In 2024, 62 mainboard IPOs opened for subscription, with five companies delivering returns over 250%, doubling investors’ money. Jyoti CNC Automation led with a 253% gain. The primary market in India has seen strong investor interest, driven by favourable market conditions and numerous IPO launches.
Jyoti CNC Automation Delivers 253% Return in 2024
Jyoti CNC Automation has been a top performer among mainboard IPOs in 2024, delivering an impressive 253% return to investors. The company’s shares were listed at ₹370 on the NSE in January, with an 11.8% premium over the issue price of ₹331. On the BSE, the stock debuted with a 12% premium at ₹372.
As of September 24, Jyoti CNC shares closed at ₹1,201, marking a surge of 253.5% from its IPO price. Strong Q1FY25 results and a robust order book, which crossed ₹3,400 crore, have fueled this growth. The company’s revenue for Q1FY25 jumped 74% year-on-year, and it posted a consolidated net profit of ₹50.91 crore, a significant turnaround from a loss in the previous year.
Bharti Hexacom Surges 140% Following 5G Expansion
Bharti Hexacom shares have climbed 140% since their April 2024 listing, closing at ₹1,369 on September 24. The stock was initially listed at ₹755 per share, 32.45% above its IPO price of ₹570. Bharti Hexacom’s stock has rallied on the back of expanding its 5G network coverage and growing its customer base by 5.5%, reaching 2.79 crore users.
The company also acquired 15 MHz of spectrum, further boosting investor confidence. Bharti Hexacom provides mobile, fixed-line, and broadband services in Rajasthan and the Northeast, continuing to solidify its position in India’s telecommunications market.
Also Read: Upcoming Adani IPOs
Premier Energies Shines with 137% Gains in 2024
Premier Energies’ shares have surged 137.3% since their September 2024 debut, listing at ₹990 per share on the NSE, up 120% from the IPO price of ₹450. On September 24, Premier Energies closed at ₹1,068. The company recently secured a ₹215 crore order under the PM-KUSUM scheme for the supply and installation of solar water pumping systems in Uttar Pradesh. This contract, set to be completed by March 2025, highlights the company’s growing presence in the solar energy sector. Premier Energies manufactures solar cells and panels, including monofacial and bifacial modules, catering to a broad market.
Robust Growth in Mainboard IPOs in 2024
The Indian primary market has been particularly active in 2024, with 62 mainboard IPOs launched in the first nine months. These IPOs have attracted substantial investor interest, and five of them, including Jyoti CNC Automation, Bharti Hexacom, and Premier Energies, have generated returns exceeding 250%. This surge in investor confidence has been driven by robust corporate performance and favourable market conditions.
Promising Outlook for Key IPO Performers
Companies like Jyoti CNC, Bharti Hexacom, and Premier Energies have benefited from strong fundamentals, strategic expansion, and government contracts, contributing to their stock market success. As these firms continue to expand and innovate, they are well-positioned for further growth, making them key players to watch in the coming quarters.
