The year 2021 has been a truly exceptional and record-breaking year for the Indian IPO market. The participation by the retail investors was remarkable. The IPO craze was seen in the M&A space as well. The promoters couldn’t resist the mouth-watering valuations in the public markets. This led to a total of 118 Initial Public Offerings in India out of which 55 were Small and medium enterprises (SME) IPOs. In this article, we will take a look at the list of IPOs in 2021 that gave very good returns and the IPO’s that opened at a discount making their investors lose money. Keep reading to find out!
How did the Initial Public Offering Market perform in 2021?
India followed the global trend and the stock markets did exceedingly well. According to data compiled by PRIME Database Group, 65 Indian corporates raised an all-time high of more than Rs 1.3 Lakh crores through mainboard IPOs in 2021. The previous best was Rs 75,278 crore in 2017.
The amount of fresh capital raised in IPOs in 2021 stood at Rs 43,324 crore which was greater than the last 8 years combined. The average number of applications from the retail segment was 14.36 lakh, in comparison to 12.77 lakh in 2020 and 4.05 lakh in 2019.
This year also saw another record, in terms of the number of filings with SEBI. As many as 115 companies filed their offer document with SEBI for approval.
List of IPOs in 2021 Which Performed Really Well
Here are the top five companies that emerged as top performers in 2021:
The company engaged in the manufacturing of microcrystalline cellulose (MCC), a binder agent widely used in the pharmaceutical industry. The IPO consisted of a fresh issue of 7.70 million shares. It was looking to raise a capital of ₹125.43 crores. It saw a healthy subscription of 101.91 times.
The stock opened with a 252.8 per cent premium at Rs 575 on the BSE against an issue price of Rs 163, making it the biggest ever listing of 2021. The demand was very high for Sigachi Industries shares as it was locked in the 5 per cent upper circuit.
Paras Defence and Space Technologies Ltd is one of the leading companies. The company is engaged in designing, developing, manufacturing and testing a wide range of defence and space engineering products and solutions. The company was looking to raise Rs 171 Cr through the IPO.
The shares opened at Rs 475 per share on NSE, which is a 171% per cent premium to the higher end of the offer price of Rs 175 apiece. The issue was subscribed 304.26 times which was the second-highest in 2021.
Latent View Analytics is among the leading pure-play data analytics services companies in India. Their expertise lies in data and analytics consulting, business analytics and insights, advanced predictive analytics, data engineering and digital solutions.
The Rs 600 crore IPO of the company recorded bids worth Rs 113,000 crore, the best ever in the history of the Indian primary market. The shares got listed at Rs 512 which is a premium of 160% to its issue price. Latent View Analytics reported the highest-ever subscription of 326.5 times.
GR Infraprojects is an integrated road engineering, procurement, and construction (EPC) company that has various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.
The company was looking to raise Rs 936-crore through this IPO. The stock started trading at Rs 1,700 which is 104% to the issue price of Rs 837 on the BSE. On NSE the stock traded at Rs 1715.85 per share. It was subscribed 102.58 times by retail investors.
Clean Science manufactures functionally critical speciality chemicals such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals. It is the only company globally to deploy vapour-phase technology for manufacturing Anisole from phenol.
The company had planned to raise Rs 1,546.62 crore through its public issue. The issue was entirely an offer for sale (OFS) by existing investors, including the promoters of the company.
The shares started trading at Rs 1,784 per share at a premium of 98.27% from the issue price of Rs 900 apiece. The shares of the company were subscribed 93.41 times.
List of IPOs in 2021 Which Performed the Worst
Here are the top five companies that emerged as the worst performers in 2021:
One97 Communications (Paytm)
The largest IPO in 2021, which was also the largest IPO ever in the history of the Indian IPO market was One 97 Communications (Paytm). It is an Indian e-commerce and fintech company that facilitates cashless payments. It was looking to raise Rs 18,300 crore through the public issue.
The shares of the company were listed at Rs 1,950 on NSE, a discount of 9.3 per cent over its price of Rs 2,150. At BSE, the stock got listed at Rs 1,955. The IPO was subscribed less than two times. The shares dropped as much as 27% on a listing day over the issue price.
Shriram Properties is one of the leading residential real-estate developers in south India and focuses on mid-market and affordable housing categories. The company was looking to raise Rs 600 crore through its public issue that comprised a fresh issue of Rs 250 crore and an offer for sale of Rs 350 crore.
The stock made a weak debut as it was listed at a discount of 20 per cent compared to the issue price of Rs 118 per share. The stock opened at Rs 94 on the BSE. The retail portion of the IPO was subscribed 12.72 times.
Nuvoco Vistas is India’s fifth-largest cement maker. The company was looking to raise a capital of Rs 5000 Crores. The offer had comprised a fresh issue of Rs 1,500 crore and an offer for sale of Rs 3,500 crore by promoter Niyogi Enterprise.
The shares of the company are listed at a discount of 17% from the issue price. The stock opened at Rs 471 on the BSE and at Rs 485 on the National Stock Exchange. It was subscribed only 1.71 times.
Kalyan Jewellers is an Indian chain of jewellery showrooms. It has a presence across major cities in the country. The company raised Rs 1,175 crore through its Initial public offer including a fresh issue of Rs 800 crore.
The shares of the company are listed at 15 per cent. It traded at Rs 73.95 compared to the issue price of Rs 87, on the National Stock Exchange. The stock declined to Rs 73.90 on the BSE. The issue had seen a subscription 2.61 times.
The company provides a comprehensive range of CDMO services ranging from product discovery, product development, licensing and commercial manufacturing of generic products, including complex generics. The pharma company has mobilised Rs 401.53 crore through its public issue.
The company was listed at a 5% discount making it one of the worse performing IPOs of 2021. The stock opened at Rs 439 on the BSE and Rs 437 on the National Stock Exchange. The retail portion was subscribed by 24.27 times.
Complete List of IPOs in 2021
|Company||Issue Month||Issue Price (Rs)|
|Stove Kraft Limited IPO||January||385|
|Home First Finance Company India Ltd. IPO||January||518|
|Indigo Paints Limited IPO||January||1490|
|Indian Railway Finance Corporation Limited IPO||January||26|
|Heranba Industries Limited IPO||February||627|
|RailTel Corporation of India Limited IPO||February||94|
|Nureca Limited IPO||February||400|
|Brookfield India Real Estate Trust REIT||February||275|
|Barbeque Nation Hospitality Limited IPO||March||500|
|Suryoday Small Finance Bank Ltd IPO||March||305|
|Nazara Technologies Limited IPO||March||1101|
|Kalyan Jewellers India Limited IPO||March||87|
|Laxmi Organic Industries Limited IPO||March||130|
|Craftsman Automation Limited IPO||March||1490|
|Anupam Rasayan India Limited IPO||March||555|
|Easy Trip Planners Limited IPO||March||187|
|MTAR Technologies Limited IPO||March||575|
|Macrotech Developers Limited IPO||April||486|
|POWERGRID Infrastructure Investment Trust InvIT||May||100|
|India Pesticides Limited IPO||June||296|
|Krishna Institute of Medical Sciences Limited IPO||June||825|
|Dodla Dairy Limited IPO||June||428|
|Sona BLW Precision Forgings Limited IPO||June||291|
|Shyam Metalics and Energy Limited IPO||June||306|
|Rolex Rings Limited IPO||July||900|
|Glenmark Life Sciences Limited IPO||July||720|
|Tatva Chintan Pharma Chem Ltd IPO||July||1083|
|Zomato Limited IPO||July||76|
|Clean Science and Technology Ltd IPO||July||900|
|G R Infraprojects Limited IPO||July||837|
|Aptus Value Housing Finance India Ltd IPO||August||353|
|Chemplast Sanmar Limited IPO||August||541|
|Nuvoco Vistas Corporation Ltd IPO||August||570|
|CarTrade Tech Limited IPO||August||1618|
|Krsnaa Diagnostics Limited IPO||August||954|
|Devyani International Limited IPO||August||90|
|Exxaro Tiles Limited IPO||August||120|
|Windlas Biotech Limited IPO||August||460|
|Aditya Birla Sun Life AMC Ltd IPO||September||712|
|Paras Defence And Space Technologies Limited IPO||September||175|
|Sansera Engineering Limited IPO||September||744|
|Vijaya Diagnostic Centre Limited IPO||September||531|
|Ami Organics Limited IPO||September||610|
|Fino Payments Bank Limited IPO||October||577|
|FSN E-Commerce Ventures Limited IPO||October||1125|
|Star Health and Allied Insurance Company Ltd IPO||November||900|
|Go Fashion (India) Limited IPO||November||690|
|Tarsons Products Limited IPO||November||662|
|Latent View Analytics Limited IPO||November||197|
|Sapphire Foods India Limited IPO||November||1180|
|One 97 Communications Limited IPO||November||2150|
|S.J.S. Enterprises Limited IPO||November||542|
|PB Fintech Limited IPO||November||980|
|Sigachi Industries Limited IPO||November||163|
|CMS Info Systems Limited IPO||December||216|
|Supriya Lifescience Limited IPO||December||274|
|HP Adhesives Limited IPO||December||274|
|Data Patterns (India) Limited IPO||December||585|
|Medplus Health Services Limited IPO||December||796|
|Metro Brands Limited IPO||December||500|
|C.E. Info systems limited IPO||December||1033|
|Shriram Properties Limited IPO||December||118|
|Rategain Travel Technologies Limited IPO||December||425|
|Anand Rathi Wealth Limited IPO||December||550|
|Tega Industries Limited IPO||December||453|
The Government initiatives on digitisation, Make in India, the low interest-rate environment, and measures to maintain liquidity and to support sectors impacted by COVID-19 are some of the primary factors for the growing number of IPOs in the country.
According to PRIME Database, the domestic IPO pipeline remains strong with more than 35 companies holding SEBI approval are proposing to raise roughly Rs 50,000 crore.
More than 33 companies are waiting for SEBIs approval to raise about Rs 60,000 crore. Some of the most awaited IPOs for next year will be LIC, OYO, PhonePe, and Flipkart.
That’s all for this article. Happy reading!