Successful Mainboard IPO listing of June 2024

A 19% increase from previous fiscal year, 76 companies raised almost Rs 62,000 crore through mainboard IPOs in 2023–24 thanks to buoyant secondary markets, substantial retail investor involvement, & healthy institutional investor flows. Anticipations are high for fantastic year for IPOs (Initial Public Offerings) as FY2025 approaches. According to report by Pantomath Financial Services Group, number of variables, including increase in local capital, improved governance standards, thriving spirit of Indian entrepreneurship, & supportive government policies from foreign direct investment, are contributing to this confidence.

In this article we are going to be discussing in depth about listing of mainboard of IPOs of month of June 2024, amongst Kronox lab, Aasaan Loan IPO, Dee Development & Stanley Lifestyle IPO.
    
Kronox Lab Sciences IPO

1. Kronox Lab Sciences IPO: Lists at 21.29% premium on NSE, starting at ₹164.95 per share compared to issue price of ₹136.

2. Modest to strong listing: Kronox Lab Sciences had robust debut on June 10, 2024, with shares trading at ₹164.95.

3. Pre-open price discovery: Before market opened, Kronox Lab Sciences had indicative equilibrium price of ₹164.95 with 11,06,796 shares.

4. Book built IPO: Kronox Lab Sciences’ IPO was priced between ₹129 to ₹136, & final price was set at ₹136 per share after high demand.

5. Strong subscription: IPO was subscribed over 117 times, with anchor investors taking up shares at ₹136 each.

6. Trading stats: On its first day, stock traded between ₹156.70 & ₹173.19, ending at ₹157.10 per share with significant volumes.

7. Market capitalization: opening market cap was ₹582.90 crore, trading in BE series with delivery trades only.

8. BSE listing: On BSE, Kronox Lab Sciences opened at ₹165 per share, 21.32% premium, with indicative equilibrium price of ₹165.

Akme Fintrade India (Aasaan Loans) IPO 

1. Akme Fintrade India IPO: IPO, priced at ₹120 per share, was subscribed 55.12 times, indicating high investor interest.

2. Fresh issue: IPO involved fresh issue of 1.1 crore shares, aiming to raise ₹132 crore.

3. Strong demand: Non-institutional investors subscribed 130.33 times, while retail investors subscribed 45.78 times.

4. Anchor investors: Akme Fintrade raised ₹38 crore from anchor investors, including Sigma Global Fund & Zeal Global Opportunities Fund.

5. Fund utilization: funds will strengthen Akme Fintrade’s capital base for future growth & asset expansion.

6. Operational regions: Akme Fintrade operates in Rajasthan, Maharashtra, Madhya Pradesh, & Gujarat, focusing on vehicle & business finance.

7. Listing details: shares will be listed on both NSE & BSE, with Gretex Corporate Services as lead manager.

DEE Development Engineers IPO 

1. DEE Development Engineers IPO: Lists at 67% premium, starting at ₹339 per share compared to issue price of ₹203.

2. Strong listing: On June 26, 2024, DEE Development Engineers had very strong debut with shares trading at ₹339.

3. Pre-open price discovery: indicative equilibrium price was ₹339 with 37,65,888 shares before market opening.

4. Book built IPO: Priced between ₹193 to ₹203, final price was set at ₹203 after high demand.

5. High subscription: IPO was subscribed over 103 times, with anchor investors taking up shares at ₹203 each.

6. Trading stats: On its first day, stock traded between ₹271.20 & ₹406.80, ending higher at ₹360.10.

7. Market capitalization: opening market cap was ₹2,487 crore, with stock trading in EQ series.

8. BSE listing: On BSE, DEE Development Engineers opened at ₹325 per share, 60.10% premium, with indicative equilibrium price of ₹325.

Stanley Lifestyles IPO 

1. Stanley Lifestyles IPO: Lists at 34.13% premium on NSE, starting at ₹494.95 per share compared to issue price of ₹369.

2. Strong listing: On June 28, 2024, Stanley Lifestyles had robust debut with shares trading at ₹494.95.

3. Pre-open price discovery: indicative equilibrium price was ₹494.95 with 18,35,063 shares before market opening.

4. Book built IPO: Priced between ₹351 to ₹369, final price was set at ₹369 after high demand.

5. High subscription: IPO was subscribed over 97 times, with anchor investors taking up shares at ₹369 each.

6. Trading stats: On its first day, stock traded between ₹492.00 & ₹515.00, ending higher at ₹498.10.

7. Market capitalization: opening market cap was ₹1,765 crore, with stock trading in EQ series.

8. BSE listing: On BSE, Stanley Lifestyles opened at ₹500 per share, 35.23% premium, with indicative equilibrium price of ₹500.

Conclusion

Among IPOs analyzed, Stanley stands out as having most successful listing based on several key metrics such as subscription rate, listing gains, & overall market reception. Stanley emerged as best-performing IPO among group, with strong investor demand, significant listing gains, & robust market reception, making it most successful listing in this analysis.