2024's IPOs explode with 31% Day 1 pop: Fireworks or false start?

The initial public offerings (IPOs) of 2024 saw strong gains, with a weighted average first-day increase of 31 per cent, compared to 40 per cent in 2023, according to an analysis by Nuvama Alternative & Quantitative Research.

 

This year’s gains might have been higher if not for the lacklustre debut performances of several large IPOs, including Hyundai Motor India (which saw a 6 per cent drop on its first day), Afcons Infrastructure (up 7 per cent), and Acme Solar Holdings (down 3 per cent).

 

Eight companies saw their market value more than double on debut. The largest first-day pop came