The year 2022 saw several Indian companies coming up with their initial public offerings (IPO). As of December 16, there were nearly 150 big and small companies that went public on the Indian stock exchanges. Several of these IPOs grabbed the media spotlight for a variety of reasons. From Adani Wilmar to Life Insurance Corporation, here are the top-10 public issues that made headlines this year.
Life Insurance Corporation of India (LIC) with an issue size of Rs 21,008.48 crore became the largest IPO in the country so far. The much-awaited IPO came with an issue price of Rs 949. However, despite all the hype, the shares had a discounted listing on the NSE and the BSE.
Adani Wilmar, one of the largest fast-moving consumer goods (FMCG) firms in the country, opened its IPO for bidding in the last week of January. Despite a strong backer– Adani Group– the IPO failed to reach full subscription and faced a weak listing. It made its comeback, later on, becoming the best-performing IPO of 2022.
Ruchi Soya Industries, now known as Patanjali Foods, this Baba Ramdev-backed company is the first from Patanjali to have gone public. The prices of this share shot up after its listing following the announcement of four IPOs to be launched in the next five years.
Delhivery was the second-largest IPO by issue size in 2022, after LIC. The delivery services provider raised Rs 5,235 crores but went on to trade in the red, down by 28.88 per cent from its listing price on December 12.
Harsha Engineers’ shares were listed at a premium of 35-36 per cent over the upper end of the price band. When the bidding concluded on September 16, the IPO was oversubscribed by 74.7 times, making it one of the most chased issues of this year.
Electronics Mart was another IPO making it to the list of most chased IPOs this year was Bengaluru-based Electronics Mart. The issue saw subscriptions almost 72 times more than the shares on offer. It also attracted a strong response from qualified institutional buyers.
DCX Systems raised close to Rs 500 crores via its public issue. The IPO saw oversubscription by nearly 70 times and the stock jumped 49 per cent on its listing day. However, it was trading in the red on December 12.
Global Health (Medanta) was a high-profile IPO that went live for bidding on November 3. The company’s IPO was in the limelight since it is one of the largest private multi-speciality healthcare providers in the country. The public issue, priced at Rs 336 per share, appreciated over 23 per cent on listing day.
Sula Vineyards opened for bidding in December, Sula Vineyards was hailed as a “first of its kind” IPO in the wine industry. While India’s largest winemaker’s public issue generated massive hype, it saw a muted response, likely because the entire offering was Offer For Sale.
DroneAcharya Aerial Innovations’ IPO size was rather small, Rs 33.97 crore, compared to the others on the list. However, it saw a massive response, with the issue getting subscribed over 262 times on the last day of bidding, making it the most chased IPO this year.
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