Six IPOs That Made Investors Rich Overnight This Year
2016 has turned out to be a great year for investors who put money in initial public offers, as several issues have returned solid listing gains. It's no surprise that IPO activity in the first-half of 2016 jumped nearly 80 per cent to $1.04 billion. The domestic IPO market is on track for its best year in six. Here are six IPOs that made investors super-rich overnight:
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Thyrocare Technologies IPO hit markets in April to raise Rs 480 crore. The issue was subscribed 73.55 times and the stock made a spectacular debut in May, rising as much as 49 per cent. Thyrocare Technologies returned listing gains of 39 per cent and year-to-date the stock is up 37 per cent.
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Ujjivan Financial Services hit markets to raise around Rs 900 crore in April. The microfinance lender's IPO was subscribed nearly 41 times and it made a reasonable debut, with the stock rising as much as 16.5 per cent. Ujjivan returned listing gains of 10 per cent, but year-to-date the stock is up 108 per cent.
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Quess Corp made a stellar debut, with shares in the staffing firm rising over 60 per cent on July 12. Quess Corp's IPO was oversubscribed 145 times, making it the most successful issue in the past nine years. The Bengaluru-based staffing firm had raised Rs 400 crore through its IPO. It returned listing gains of 59 per cent, though year-to-date gains are 52 per cent.
