What an amazing year it has been for the IPO street! In 2023, over 57 Indian companies raised around Rs 49,000 crore through mainboard IPOs. Now, as we bid adieu to 2023, let's take a look at the most subscribed IPOs of the year. The list includes Plaza Wires, Aeroflex Industries, Ratnaveer Precision, Netweb Technologies, and Vishnu Prakash R Punglia. It is to be noted that subscription figures are based on allotment received from the registrar (post-rejection).
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Plaza Wires' IPO danced its way into the market between September 29 and October 5 by getting subscribed 113.74 times. The IPO was priced at Rs 51-54 per share and is now trading over 80 percent higher at Rs 97.5, proving that when it comes to wires, Plaza knows how to connect with investors.
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Taking off in style, Aeroflex Industries’ IPO secured the second spot with a subscription of 69.01 times between August 22 and 24. While the IPO was priced at Rs 102-108, the stock is now trading 34.7 percent higher at Rs 145.55.
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Precision met enthusiasm as Ratnaveer's IPO was subscribed 65.42 times. The price band of the IPO, which opened on September 4 and closed on September 6, was fixed at Rs 93-98. It is currently up 16 percent from the upper end at Rs 114.8.
Netweb Technologies caught the digital wave with a subscription of 63.17 times. Priced at Rs 475-500 per share, it is now riding the tech tide at Rs 1,182, which is an uptick of 136 percent. The IPO took place between July 17 and July 19.
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Vishnu Prakash R Punglia's IPO is on the fifth spot with a subscription of 61.4 times between August 24 and 28. Priced at Rs 94-99 per share, it's now shining bright 109 percent higher at Rs 207.
Yash Sadhak Shrivastava is an aspiring voice in the Journalistic forefront with experience in covering financial markets & geopolitics.
