Shocking 2023 IPO: Top IPOs with Staggering Fundraising Success

In a remarkable turn of events, 2023 has witnessed five Initial Public Offerings (IPOs) that have garnered unprecedented attention and investment, collectively amassing bids worth nearly Rs 4 lakh crore. Leading the pack are Tata Technologies, DOMS Industries, JSW Infrastructure, IREDA, and Cello World, which have emerged as the most lucrative IPOs of the year.

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Tata Technologies created a stir in the IPO market by raising an impressive Rs 3,042.51 crore. The real showstopper, however, was the astounding subscription rate of 69.43 times, with total bids soaring to an incredible Rs 1.55 lakh crore. Offered within a price band of Rs 475-500 per share, Tata Technologies’ stock is currently trading at a staggering Rs 1,209.2, marking an astonishing 141 percent increase from the upper end of the price range.

DOMS Industries also exceeded expectations, raising Rs 1,200 crore through its IPO. The subscription rate was nothing short of astounding, standing at 93.52 times, with total bids reaching an impressive Rs 65,060 crore. Currently, DOMS Industries’ stock is trading over 70 percent higher at Rs 1,351.7, compared to its issue price of Rs 750-790 per share.

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JSW Infrastructure raised Rs 2,800 crore through its public offering. The subscription rate, although slightly lower in comparison, was still strong at 37.37 times, with total bids reaching Rs 61,693 crore. Priced at Rs 113-119 per share during the IPO, JSW Infrastructure’s stock is now trading at Rs 214.35, representing an impressive 80 percent surge from the upper end of the price range.

IREDA (Indian Renewable Energy Development Agency Limited) made waves in the IPO market by amassing Rs 2,150.21 crore. With total bids reaching Rs 58,788 crore, it boasted a subscription rate of 38.8 times. IREDA’s shares, priced at Rs 30-32 per share, are currently trading at a remarkable Rs 109.84, marking a staggering 243 percent increase from the upper end of the price band.

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Cello World, which raised Rs 1,900 crore, also drew substantial attention. The subscription rate stood at 38.9 times, with total bids reaching Rs 56,081 crore. Priced at Rs 617-648 per share during the IPO, Cello World’s stock is now trading 19 percent higher at Rs 775.35.

The success of these five IPOs in 2023 highlights the robust investor interest and confidence in the Indian market, as companies from various sectors continue to tap into the potential for growth and expansion. These remarkable fundraising feats not only underscore the buoyancy of the IPO market but also signal a positive outlook for the Indian economy in the years ahead.

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