Since last Diwali, 56 newly-listed companies have showcased remarkable performance in the flourishing secondary market. Prime Database reveals that out of these, 48 firms are trading above their issue price.
Notably, seven have seen over 100 percent returns, nine delivered 50-100 percent, and 26 fetched 10-49 percent. The IPO market gained momentum after a slowdown in January 2023, aligning with the surge in local equity markets.
Market experts attribute this success to reasonably priced IPOs and increased investor interest across various sectors. While optimism prevails, caution is advised, especially with approaching general elections.