• PNGS Gargi Fashion Jewelery topped the leaderboard. The stock, which went public on December 22, 2022, enjoyed a stellar opening, opening at about 90% premium to ₹57 as compared to the issue price of ₹30 per share. Later, it ended the day at ₹59.9 with a gain of 99.5 per cent.
As per media reports, 40 Indian companies raised ₹59,412 crore through IPOs in CY2022, which is less than half of the ₹1,18,723 crore raised by 63 corporates in 2021. However, the overall performance of new entrants was largely positive.
Last year, Indian equity markets experienced extreme volatility as a result of rising recession fears, higher commodity prices and rising interest rates. Despite the huge volatility in the markets, some new entrants have managed to generate multi-bagger returns.
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