Year Ender 2024: Best Performing IPOs – Vibhor Steel Tubes, Bajaj Housing Finance, Premier Energies, and More

The year 2024 was a blockbuster for IPO enthusiasts, with companies across industries delivering exceptional listing gains. Investors reaped significant rewards from Vibhor Steel Tubes’ staggering 181% debut to Bajaj Housing Finance’s stellar 150.71% gain. Premier Energies and BLS E-Services also stood out in terms of strong market performances. Let’s dive into the top IPOs that made headlines this year!

Best Performing IPOs Based on Listing Gains

Company Name	Listing Date	Issue Price	Total Subs	Listing Open (₹)	Listing Gain	Issue Size (in ₹ crore)
Vibhor Steel Tubes IPO	Feb 20, 2024	₹51	298.86x	425	181.46%	72.17
Bajaj Housing Finance IPO	Sep 16, 2024	₹70	63.61x	175.5	150.71%	6,851.03
BLS E-Services IPO	Feb 06, 2024	₹135	162.47x	305	125.93%	310.91
Premier Energies IPO	Sep 03, 2024	₹450	74.38x	990	120.00%	2,830.40
Unicommerce Esolutions IPO	Aug 13, 2024	₹108	168.39x	215	99.07%	276.57
Exicom Tele-Systems IPO	Mar 05, 2024	₹142	129.54x	265	86.62%	429.00
P N Gadgil Jewellers IPO	Sep 17, 2024	₹480	59.41x	830	72.92%	1,100.00
DEE Development Engineers IPO	Jun 26, 2024	₹203	99.56x	339	67.00%	419.01
TBO Tek IPO	May 15, 2024	₹920	86.7x	1419	54.24%	1,550.81
JNK India IPO	Apr 30, 2024	₹415	28.13x	621	49.64%	649.47

Note: The list of top IPOs is sorted based on the listing gain, and the data source is Moneycontrol.

Overview of Best-Performing IPOs

1. Vibhor Steel Tubes IPO

Vibhor Steel Tubes Ltd had an impressive stock market debut on February 20, with shares listing at a premium of 181% to the IPO issue price. The stock opened at ₹425 on the NSE, significantly higher than the IPO price of ₹151 per share. On the BSE, it opened at ₹421. Following this, the company’s market capitalisation surged to ₹798.32 crore.

Key Use of IPO Proceeds

The company plans to use the funds raised for:

1. Working capital requirements
2. General corporate purposes

About Vibhor Steel Tubes

Vibhor Steel Tubes is a Haryana-based manufacturer, exporter, and supplier of steel pipes and tubes catering to heavy engineering industries in India. Before the IPO, the promoters held a 98.24% stake in the company.

As of 3:05 PM on December 13, 2024, Vibhor Steel Tubes share price is trading at ₹233.60, down by ₹1.72 or 0.73%. The stock opened at ₹232.20, reached a high of ₹236.95, and a low of ₹231.39 earlier in the session.

2. Bajaj Housing Finance Shares IPO

Bajaj Housing Finance made a remarkable entry into the stock market on September 16, with shares listed at ₹150 on both NSE and BSE. This was a premium of 114% over the IPO issue price of ₹70 per share. By the end of the listing day, the shares hit the upper circuit at ₹164.99, marking a 135% premium over the IPO price. 

Purpose of IPO:

1. To comply with RBI regulations requiring upper-layer NBFCs to list on stock exchanges by September 2025.
2. To strengthen Bajaj Housing Finance’s capital base for future growth.
3. To support operational needs and expansion.

About Bajaj Housing Finance

Established in September 2015, Bajaj Housing Finance is a non-deposit-taking housing finance company registered with the National Housing Bank. It provides financial solutions for purchasing and renovating residential and commercial properties.

As of 3:09 PM on December 13, 2024, Bajaj Housing Finance share price is trading at ₹132.51, down by ₹0.24 or 0.18%. The stock opened at ₹131.94, reached a high of ₹133.45, and a low of ₹130.90 earlier in the session.

3. BLS E-Services IPO

BLS E-Services had a remarkable stock market debut on February 6, with shares listing at a premium of 128.9% over the IPO price, in line with analysts’ expectations of 125-130% gains. The stock opened at ₹305 on the NSE and ₹309 on the BSE, compared to the issue price of ₹135 per share. 

Purpose of IPO:

1. Enhance technology infrastructure to develop new capabilities and strengthen existing platforms.
2. Fund organic growth initiatives, including the establishment of new BLS Stores.
3. Drive inorganic growth through acquisitions.
4. Allocate funds for general corporate purposes.

About BLS E-Services

BLS E-Services, a digital service provider, offers business correspondence services for major banks, e-governance solutions, and assisted e-services across India.

BLS E-Services share price is currently trading at ₹215.15, down by ₹0.25 or 0.12% as of 3:14 PM on December 13. The stock opened at ₹213.05 and reached a high of ₹215.37 and a low of ₹213.00 during the day. The current trading price reflects a slight dip from its opening value.

4. Premier Energies IPO

Premier Energies’ IPO shares debuted at a premium of 120% on September 3. The stock was listed at ₹990 on the NSE and ₹991 on the BSE, far above the issue price of ₹450 per share.

The IPO, priced between ₹427 and ₹450 per share, was open for bidding from August 27 to August 29 and received an overwhelming response. 

Purpose of IPO:

1. The IPO proceeds will be used to fund the expansion of its subsidiary, Premier Energies Global Environment Pvt. Ltd.
2. The funds will support the development of a 4 GW Solar PV TOPCon Cell and Module manufacturing facility in Hyderabad.
3. TOPCon technology (Tunnel Oxide Passivated Contact) is regarded as the next standard in solar cells.

About Premier Energies

Premier Energies specialises in solar cells and modules, offering products like monofacial and bifacial modules, EPC solutions, and O&M services. It operates five manufacturing units, all based in Hyderabad, Telangana.

As of 13 Dec, 3:18 pm, Premier Energies share price is trading at ₹1,294.35, reflecting a decrease of ₹13.00 (0.99%) today. The stock opened at ₹1,270.10 at 10:30 am IST, reached a high of ₹1,307.00, and a low of ₹1,264.00 during the trading session.

5. Unicommerce eSolutions IPO 

Unicommerce eSolutions had a spectacular stock market debut on August 13, 2024, listing at a significant premium on both the BSE and NSE. On the BSE, shares were listed at ₹230, reflecting a 112.96% premium over the IPO issue price of ₹108, delivering a gain of ₹122 per share for investors. On the NSE, the shares listed even higher at ₹235, marking a 117.59% premium.

Purpose of IPO:

1. The entire offer proceeds will be allocated to the Selling Shareholders.
2. The distribution of proceeds will be in proportion to the number of Offered Shares sold by each Selling Shareholder.

About Unicommerce eSolutions

Founded in 2012, Unicommerce is India’s largest e-commerce enablement SaaS platform, specializing in end-to-end management of e-commerce operations.  Unicommerce provides solutions for brands, sellers, and logistics providers, making it a critical player in the fast-growing e-commerce ecosystem.

As of December 13, 3:21 pm, Unicommerce eSolutions share price is trading at ₹179.14, showing a decline of ₹0.74 (0.41%) today. The stock opened at ₹175.88 at 10:35 am IST, reached a high of ₹178.70, and a low of ₹175.40 during the trading session.

India Tops Global IPO Market in Q3 2024

India has taken the lead in the global IPO market, securing a 36% share of total listings in Q3 2024, ahead of the United States, which had a 13% share. With 27 IPOs, the country marked its busiest quarter in two decades, a 29% increase compared to Q3 2023. These IPOs raised a staggering ₹36,027 crore (US$ 4.27 billion), reflecting a 142% growth year-on-year. Compared to the previous quarter, the funds raised jumped 115%, with the number of deals rising 108%. Prominent IPOs during the quarter included Bajaj Housing Finance, Ola Electric Mobility, and First Cry.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.