Over 70% IPOs delivered gains on listing day in FY21, shows data

On average, listing-day gains stood at 34%, the highest in over five years

Financial year 2020-21 (FY21) proved a profitable year for investors in initial public offerings (IPOs), with over 70 per cent of the companies providing seeing gains on listing day. The average listing-day gains stood at 34 per cent, the highest in about five years.
 

A total of 31 maiden offerings hit the market in the fiscal. Of this, the stock prices of 22 companies finished higher than their issue price. An unprecedented four stocks –Burger King, Happiest Minds, Indigo Paints and Mrs Bectors Food – even saw their stock price double on the first day.
 

The encouraging performance was underpinned