The stock closed at Rs 455.95 on the NSE,reaching Rs 464 during the day’s session.
The past three years have seen significant IPOs from tech companies, the latest being Ola Electric, FirstCry, and Awfis. Here’s a snapshot of notable new-age market debuts and Day 1 gains:
Zomato
Swiggy’s competitor Zomato hit the bourses in July 2021 at Rs 115 on the BSE. This was a premium of 51.3% over the IPO price of Rs 76, and the stock went as high as 81% over the issue price to log a day’s high of Rs 138. It ended at Rs 125.85, up 65.6%.
Zomato may be an investor favourite now, but after its bumper listing, it saw a significant erosion in value in 2022. Acquisition of Blinkit (then Grofers), the exit of some early investors and macroeconomic factors at play in global markets dragged the company’s stock to an all-time low of Rs 46 in July 2022.
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Zomato is one of the biggest turnaround stories, with the stock recovering rapidly in subsequent years. In 2024 alone, Zomato’s shares have risen over 100%. The stock closed at Rs 258.55 on Wednesday.
ETtechOla Electric
Bhavish Aggarwal-led electric vehicle maker Ola Electric floated its Rs 6,146-crore IPO on August 2. Disappointingly, the stock listed on August 9 at a flat price of Rs 76. However, it went on to hit the upper circuit later in the day.
The stock has since been on a rollercoaster ride. The company came under scrutiny due to rising consumer complaints, prompting the Central Consumer Protection Authority (CCPA) to issue a notice. The stock has since lost over 50% of its market capitalisation since listing, falling from a peak of over Rs 66,000 crore to just under Rs 30,000 crore.
FirstCry
Brainbees Solutions, which operates and owns FirstCry, made its debut on the exchanges on August 13. The Rs 4,194-crore IPO saw high demand among investors, and listed at a 40% premium on the NSE on debut. The stock listed at Rs 625 on the BSE, up 34.4% over its issue price of Rs 549.
Since its listing, the stock is down nearly 23%. It closed at Rs Rs 518.85 on the BSE on Wednesday.
Unicommerce
Ecommerce software firm Unicommerce Esolutions had one of the strongest debuts this year. It listed on the stock exchanges in August at a nearly 117% premium to its issue price. The company’s scrip listed on the NSE at Rs 235 apiece, more than double its issue price of Rs 108.
Year to date, the stock has lost 12% of its value, closing at Rs 184 in Wednesday’s session.
Ixigo
Le Travenues Technologies, which operates the travel platform Ixigo, made a stellar debut on Dalal Street in June with a premium of 48.5% over its issue price of Rs 93. Ixigo’s Rs 740-crore listing saw bids exceeding 98 times the shares on offer.
The stock is down 16% since listing, closing at Rs 135.5 on the BSE on Wednesday.
Awfis
Office-sharing company Awfis’ Rs 599-crore IPO closed in May amid high demand from investors. The stock debuted at Rs 432.25 on the BSE, a premium of 12.85% to the issue price of Rs 383 per share. Year to date, the stock has been on an upward trend, registering nearly 75% growth in its share price. It closed Wednesday’s session at Rs 729.45.
Mamaearth
Honasa Consumer, the parent of beauty and personal care brand Mamaearth, listed on the bourses in November 2023, at a slim 2% premium to the issue price. The stock opened at Rs 330 on the NSE as against the IPO price of Rs 324. On the BSE, it debuted at Rs 324.
More numbers
According to data from Prime Database, the year 2024 has been the best for fundraising via public listing since 2021, with Rs 15,000 crore being racked up on the bourses as of September.
A look at the funds via raised IPOs each year:
2019: Rs 934 crore
2020: Rs 600 crore
2021: Rs 42,826 crore
2022: Rs 5,544 crore
2023: Rs 3,040 crore
2024: Rs 14,570 crore (as of September-end)
