Companies mark remarkable debuts, Venus Pipes & Tubes and Kaynes Technology lead By Investing.com
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The Initial Public Offering (IPO) season for the fiscal year 2023 witnessed a series of successful debuts, with several companies reporting listing gains exceeding 100%. Venus Pipes & Tubes and Kaynes Technology emerged as the top performers, boasting impressive gains and subsequent annual returns.
Venus Pipes & Tubes took the lead with an extraordinary 302% gain at listing, followed by an additional 101% increase in the following year. Kaynes Technology, a company specializing in Internet of Things (IoT)-enabled manufacturing services, also made a significant impact. The firm made its debut with a 291% gain and recorded a further one-year return of 241%.
Other companies such as Syrma SGS Technology and Electronics Mart India also entered the market strongly. Syrma SGS Technology reported robust listing gains of 178%, while Electronics Mart India’s shares rose by 135% on their first day of trading.
Additionally, Ethos, a luxury watch retailer, and Global Health, a provider of hospital group services, marked strong entries into the public market. While specific figures for these companies were not provided, their debuts were noted as part of the season’s success stories.
Rainbow Children’s Medicare, eMudhra, and Divgi Torqtransfer Systems each reported over 70% listing gains. These firms further contributed to the successful IPO season of FY23, underlining the robust investor interest in new market entrants during this period.
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