From Diwali 2023 To Diwali 2024; A List Of All The Multibagger IPOs Like IREDA, DOMS & Others; Check

In the weeks following Diwali 2023, India's IPO market has surged with vigour, showcasing approximately 12 companies that have delivered multibagger returns to investors. Leading the charge is the Indian Renewable Energy Development Agency Ltd. (IREDA), followed closely by impressive performers like Motisons Jewellers Ltd. and DOMS Industries Ltd.

IPO Performance Post-Diwali 2023

Since Diwali, around 90 IPOs have debuted on the Indian mainboard, with approximately 65 listing at a premium and 25 at a discount. Among the IPOs launched with a premium, 15 have transformed into multibaggers. This robust participation has driven the stock market capitalization of listed Indian companies to cross the $4 trillion mark, surpassing Hong Kong's market size.

Top Performers in the Post-Diwali 2023 IPO Lineup

Topping the list of successful IPOs, IREDA, which was listed on November 29, 2023, opened at Rs 50, an impressive 87.5% gain over its issue price of Rs 32. Despite subsequent market fluctuations, the stock remains a strong performer, with a last-traded price (LTP) of Rs 210 as of September 30, 2024, reflecting a 556.9% gain from its issue price.

Another strong IPO performer, Motisons Jewellers Ltd., listed on December 26, 2023, with an initial gain of 88.3%, and its current price reflects a 428.6% increase from its issue price. This strong performance is likely boosted by a growing interest in luxury goods and precious metals.

Another strong player, DOMS Industries Ltd., which listed on December 20, 2023, saw a 67.8% listing gain, opening at Rs 1,400 against its issue price of Rs 790. DOMS has continued its upward momentum, with a current gain of 226.2% as of September 30, 2024, and an LTP of Rs 2,576.55.

In addition to these standout performances, companies like RBZ Jewellers Ltd. and Azad Engineering Ltd. have also made significant gains, with both stocks exceeding 100% returns since their respective listings. The overall positive listing performances signal the high demand and confidence in newly listed companies.

The post-Diwali IPO frenzy is underpinned by a favourable macroeconomic environment that is improving by the quarter. According to EY India's latest report, the main market witnessed a 29% increase in IPOs during Q3 2024, with 27 IPOs raising $4,285 million-a striking 142% rise from the $1,770 million raised during the same period last year. Similarly, the SME market saw robust activity, with 84 IPOs collectively raising $398 million.

Looking ahead, the economic outlook remains promising, with interest rates projected to decrease to around 6.2% by 2025 and inflation anticipated to settle near 4.5%. These optimistic projections have supported IPO activity, with more companies seeking to go public and capitalize on the growing investor interest. SEBI data shows that 68 companies filed their Draft Red Herring Prospectus (DRHP) in Q3FY25 alone.

The recent streak of successful listings and supportive market conditions suggest a robust pipeline for upcoming IPOs, signalling an influx of opportunities for wealth creation. The strong performance in mid-and small-cap stocks, coupled with sustained investor demand, reflects the growing confidence among retail investors, spurred on by a bullish secondary market.