IPOs In February: 8 Companies List On BSE, NSE; Vibhor Steel, BLS E-Services Star Performers

A total of eight companies listed that were 100% book-building debuted on BSE and NSE in February 2024. Although, post-listing, the reaction in these stocks was a mixed bag, two companies Vibhor Steel Tubes and BLS E-Services emerged as star performers. Other stocks that were listed in February are GPT Healthcare, Juniper Hotels, Entero Healthcare Solutions, Capital Small Finance Bank, Jana Small Finance Bank, Rashi Peripherals, and Apeejay Surrendra Park Hotels.

Vibhor and BLS E-Services recorded triple-digit listing gains, while the top listing losses were seen in three companies. Jana Small Finance Bank was the top laggard on its listing day with double-digit losses.

Data from Ventura Securities showed that Vibhor Steel Tubes was the best-performing IPO in February with listing gains of a whopping 195.53%. The stock closed at Rs 446.25 apiece, against its issue price of Rs151 apiece.

Meanwhile, BLS E-Services followed closely with listing gains of 171.11% to end at Rs 366 apiece on debut day against its IPO issue price of Rs 135.

Vibhor and BLS E-Services launched an IPO of Rs 72.17 crore and Rs 310.91 crore respectively.

Moreover, Apeejay Surrendra Park Hotels was the third-best performer with listing gains of 31.32%, followed by Juniper Hotels which saw an upside of 11.53%. Additionally, GPT Healthcare and Rashi Peripherals saw a listing surge of single-digit up to 7.90% and 3.38% respectively.

Listing losses were seen highest in Jana Small Finance Bank which declined by 11.07% on listing day, followed by Entero Healthcare Solutions with a listing loss of 8.62%, and Capital Small Finance Bank with a listing loss of 7.05%.

According to Ventura's blog, the month saw a mix of companies from diverse sectors, including healthcare, hospitality, steel, finance, and IT services. Issue prices ranged from ₹135.00 (BLS E-Services Limited) to ₹1258.00 (Entero Healthcare Solutions Limited), catering to various investor preferences. Issue sizes varied significantly, with Juniper Hotels Limited raising the largest amount (₹1800.00 Cr) and Vibhor Steel Tubes Limited raising the smallest (₹72.17 Cr).

Also, Ventura's note highlighted that Vibhor Steel Tubes Limited emerged as the star performer, registering a phenomenal 195.53% gain on its listing day. BLS E-Services Limited also delivered an impressive performance, closing 171.11% above its issue price.

Looking ahead, Ventura's note said that the Indian IPO market is expected to remain active in the coming months. Investors interested in participating in upcoming offerings should:

- Stay informed: Monitor financial news websites and subscribe to IPO alert services to stay updated on upcoming listings.

- Conduct thorough research: Carefully evaluate the company's financials, business model, and prospects before investing.

- Consult a financial advisor: Seek professional guidance to assess the suitability of IPOs for your investment goals and risk tolerance.

Last year, as per primedatabase.com, a total of 57 companies raised Rs 49,434 crore through mainboard IPOs, which was down by 17% from Rs 59,302 crore raised in 2022. However, this was not the case with SME IPOs, as a total of 182 small and midsize enterprises raised about Rs 4,681 crore, which was up by 150% from Rs 1,875 crore raised with 109 IPOs in 2022.

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