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IPO stocks deliver 100%+ gains, but warning flags non-fundamental drivers
Among the five IPO listings, ESDS Software Solutions topped the group, rising from ₹429 to about ₹1,586.35 for a 270% return.
LiveMint Markets highlights five recent IPOs whose shares have more than doubled from their issue prices, led by ESDS Software Solutions, which was issued at ₹429 and is trading around ₹1,586.35, for a 270% return.
The outlet also notes other gains across the set, including IndoMIM rising from ₹485 to about ₹1,288.40 for a 166% return, Technocraft Ventures moving from ₹212 to roughly ₹492.35 for a 132% gain, Milky Mist Dairy Food climbing from ₹140 to about ₹318 for a 127% increase, and Xtranet Technologies moving from ₹127 to about ₹285 for a 124% return.
LiveMint Markets says the listings saw strong initial premiums, with ESDS debuting on 4 September at more than 76% above its IPO price before extending gains and hitting the upper circuit, while IndoMIM listed on 30 July at nearly a 45% premium and Technocraft Ventures debuted on 14 August at more than a 34% premium.
Despite the surge, LiveMint Markets presents a cautious stance from Arun Kejriwal, warning investors that recent IPO-stock gains may be driven by non-fundamental factors, pointing to IndoMIM's model, cautioning around ESDS's volatile pricing, and flagging concerns about Technocraft's market behavior.