FY23 IPO Market: 12 public offers launched so far in this fiscal – check top winner and loser
At present, LIC stock is down over 30 per cent from its issue price and around 25 per cent from its listing price, making it the top laggard so far in the IPOs that were launched in the current fiscal.
FY23 IPO Market: The current financial year has seen as many as 12 public offers, with all of them being listed on exchanges. Latest in the list of IPOs is Dreamfolks Services, which has made a stellar exchange debut. Among these companies, Life Insurance Corporation of India (LIC) has dipped most of all, and Campus Activewear has registered highest gains in FY23 so far.
The initial public offer of LIC was launched on May 4, 2022, with an issues price of Rs 949 per share at the upper band and issue size of Rs 20,557 crore. The shares of insurance behemoth made debut on exchanges on May 17, 2022, at a discount of 9 per cent at Rs 867 per share.
At present, the stock is down over 30 per cent from its issue price and around 25 per cent from its listing price, making it the top laggard so far in the IPOs that were launched in the current fiscal.
The share price of state-owned insurance company stood at Rs 653 per share, flat with positive bias on the exchanges on Wednesday.
Conversely, the athletic sportswear brand Campus Activewear has turned out to be the biggest gainer in the list as shares of the company have risen by around 70 per cent from its issue price of Rs 292 apiece. The IPO was launched on April 26, 2022.
The stock made a stellar exchange debut on May 09, 2022, at a premium of Rs 355 per share, up by 22 per cent. The stock on Wednesday closed around 2.5 per cent higher to Rs 489 per share levels.
Along with LIC, the other company that has reported negative earnings so far despite premium listing is Prudent Corporate Advisory Services. Shares of Prudent Corporate is down 3 per cent to Rs 610 per share from its listing price of Rs 630 per share as of August 30, 2022.
The stock was listed on May 20, 2022, at premium of 5 per cent to Rs 660 per share as compared to its issue price. The company launched its IPO on May 10, 2022, to raise Rs 538 crore.
Meanwhile, Ethos, a luxury watch brand and Rainbow Children’s Medicare are other two IPOs that got listed at a discount of 5 and 7 per cent during their listing on exchanges so far in FY23.
Syrma SGS Technology, Aether Industries, eMudhra, Paradeep Phosphates, and Venus Pipes and Tubes shares have gained between 41-25 per cent as of August 30, 2022, are among other companies that had launched their IPOs in FY23.
Meanwhile, Dreamfolks Services made a strong stock market debut on Tuesday at Rs 505, a 55 per cent premium to the issue price of Rs 326 per share. The stock on Wednesday closed negative down over 2.5 per cent to Rs 450 per share on the BSE.
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