More than half of the companies that made their stock market debut this year have given positive returns and are trading well above their issue price.
As many as 11 companies out of the total 18 that got listed this year are trading above their issue price, an analysis of the performance of the newly-listed firms showed.
This year, 18 companies that have so far launched IPOs have collectively raised nearly Rs 11,000 crore, making it the best in four years in terms of fund raising through initial hare sale programmes.
The firms that are quoting above their issue price are S H Kelkar
and Company, InterGlobe Aviation
, Prabhat Dairy
, Shree Pushkar Chemicals
and Fertilisers, Navkar Corporation
, Syngene International
, Manpasand Beverages
, PNC Infratech
, VRL Logistics
, Inox Wind
and Ortel Communications
Fragrance maker S H Kelkar and Co made a remarkable debut at the bourses earlier this month, surging more than 15 percent over the issue price of Rs 180 per share.
The stock is currently trading at Rs 218.10, reflecting a gain of 21.16 percent against the issue price.
Similarly, shares of IndiGo's parent InterGlobe Aviation made a spectacular debut on bourses on November 10, surging nearly 15 percent, over the issue price of Rs 765 per share.
It is now quoting at Rs 1,086, a steep rise of 41.96 percent.
Syngene International, the research arm of biotechnology major Biocon, gave a positive return of 46 percent at Rs 365.10 compared with the issue price of Rs 250.
Manpasand Beverages' stock also climbed 30.6 percent against its issue price of Rs 320. Shares of PNC Infratech have zoomed 40.19 percent over
its issue price of Rs 378.
Transport and logistics firm VRL Logistics' scrip has similarly seen over a two-fold jump against the issue price of Rs 205.
Firms which are trading below their issue price are Coffee Day Enterprises
, Sadbhav Infrastructure
Project, Pennar Engineered
Building Systems, Power Mech Projects
, UFO Moviez
, MEP Infrastructure
and Adlabs Entertainment
The BSE 30-share index Sensex has lost 1,723.68 points, or 6.26 percent, at 25,775.74 so far this year.
The index hit its 1-year low of 24,833.54 on September 8.
Six IPOs had hit the market for the whole of 2014 and together garnered just Rs 1,261 crore while three firms had launched their public issues in 2013 to mobilise Rs 1,284 crore.