Investors who took part in the recent crop of initial public offerings (IPOs) have, by and large, enjoyed a strong run after listing, with most newly listed companies delivering solid returns over their issue prices. So far, there have been only a handful of disappointments among the recent listings. Post-listing performance against the issue price is the yardstick IPO investors watch most closely once a stock begins trading, and this batch has produced a wide spread of outcomes — from a doubling to a modest decline — across sectors ranging from auto components and engineering to diagnostics, dairy and hospitals.

Indo-MIM leads the gainers

Indo-MIM, a Bengaluru-based manufacturer of metal injection moulding (MIM) components, has emerged as the standout performer among the newly listed companies. Issued at ₹485 per share, the stock is currently trading around ₹990, translating into a gain of about 100% for IPO investors.

Dhoot Transmission, which makes wiring harnesses for automotive applications, has also delivered healthy returns after its market debut. Against an issue price of ₹871, the stock is trading near ₹1,306, giving investors gains of around 50%.

Molbio Diagnostics, known for its Truenat rapid molecular diagnostic tests, has rewarded investors with returns of roughly 38%. The company entered the market at an issue price of ₹807 per share and is currently trading at about ₹1,111.

MV Electro has gained around 35% since listing. The stock, which was offered to investors at ₹425 per share during the IPO, is now trading near ₹574.

Milky Mist Dairy, a dairy products company, has likewise seen strong post-listing performance. From its issue price of ₹140, the stock has climbed to around ₹182, translating into returns of about 30%.

Manipal Health, which operates a network of multi-speciality hospitals, has delivered gains of approximately 23% for IPO investors. The stock is currently trading around ₹725, compared with its issue price of ₹590.

Behari Lal Engineering lists at a sharp premium

Behari Lal Engineering shares made a blockbuster debut on the stock exchanges today, listing at a premium of 63% over the IPO price on the NSE. The stock opened at ₹465 on the NSE, compared with its issue price of ₹285 per share. On the BSE, the stock debuted at ₹458, marking a premium of around 61%. A small gap between the opening prices on the two exchanges is not unusual, as the NSE and the BSE conduct a stock's debut trades in separate sessions.

Leap India and SBI Funds lag

There have, however, been a couple of exceptions to the otherwise strong trend among recent IPOs. Leap India has remained largely flat since listing. The stock is trading around ₹160, almost unchanged from its issue price of ₹159.

SBI Funds, the asset management company backed by State Bank of India, has been one of the few underperformers among the recent listings. The stock is currently trading around ₹555, compared with its issue price of ₹574, resulting in a decline of about 3%.

The contrast within a single batch of listings — from a 100% gain to a roughly 3% slide — illustrates how uneven post-listing outcomes can be even when overall sentiment toward new issues remains strong. Whether the newest entrants, including Behari Lal Engineering, hold on to their debut premiums in the sessions ahead is the next checkpoint for investors who bought in at the issue price.

Source: CNBC-TV18