Check out the highest IPO subscription in 2023 in India. This most popular IPO list contains all public offers on NSE and BSE during the year.
IPOs with the highest subscriptions have certain common traits such as strong fundamentals, capable management, and the presence of external investors. IPOs exhibiting these characteristics usually attract more buyers and investors, in turn, driving activity in the grey market as well. Since mainboard IPOs are characterized by high fund mobilization and efficient value discovery prior to the offer, investors mostly prefer to flip these flagship public offers for quick listing gains.
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In recent years, the restrictions introduced by market regulator SEBI on IPO funding have resulted in lower subscription figures for mainboard IPOs while the action has now shifted to SME IPOs. A look at the highest subscribed SME IPOs proves this point.
Check out the top IPO subscription in 2023 in India. The report also provides you with a category-wise subscription status by retail investors (RIIs), non-institutional investors (NIIs), and qualified institutional bidders (QIBs).
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List of Highest IPO Subscription in 2023 in India
| IPO Name | QIB (X) | NII (X) | Retail (X) | Overall (X) | Listing Returns (%) |
|---|---|---|---|---|---|
| Plaza Wires | 42.84 | 388.09 | 374.81 | 160.97 | 55.93 |
| Motisons Jewellers | 157.40 | 233.91 | 122.28 | 159.61 | 88.27 |
| IdeaForge | 125.81 | 80.58 | 85.20 | 106.06 | 92.70 |
| Utkarsh Small Finance Bank | 124.85 | 81.64 | 72.10 | 101.91 | 92.00 |
| Aeroflex Industries | 194.73 | 126.08 | 34.20 | 96.99 | 51.16 |
| Ratnaveer Precision Engineering | 113.05 | 135.20 | 53.95 | 93.96 | 31.99 |
| DOMS Industries | 115.97 | 66.47 | 69.10 | 93.40 | 67.85 |
| Netweb Technologies | 228.91 | 81.81 | 19.15 | 90.36 | 82.08 |
| Vishnu Prakash Punglia | 171.69 | 111.02 | 31.96 | 87.79 | 47.17 |
| Happy Forgings | 220.48 | 62.17 | 15.09 | 82.04 | 21.27 |
| Azad Engineering | 179.66 | 87.61 | 23.79 | 80.65 | 29.29 |
| EMS Limited | 153.02 | 82.32 | 29.75 | 75.26 | 32.65 |
| Senco Gold | 180.94 | 64.99 | 15.46 | 73.35 | 27.85 |
| ESAF Bank | 173.52 | 84.36 | 16.95 | 73.14 | 15.08 |
| SBFC Finance | 192.90 | 49.09 | 10.99 | 70.16 | 61.75 |
| Tata Technologies | 203.41 | 62.11 | 16.50 | 69.43 | 162.60 |
| Cyient DLM | 90.44 | 45.05 | 49.22 | 67.31 | 58.72 |
| IKIO Lighting | 163.58 | 63.35 | 13.86 | 66.30 | 41.70 |
| Gandhar Oil | 129.00 | 62.23 | 28.95 | 64.07 | 78.34 |
| Jupiter Life Line Hospitals | 187.32 | 34.75 | 7.73 | 63.72 | 46.36 |
Check out the top IPO subscription in 2024
The list of highest subscribed IPOs in 2023 consistently feature QIBs and HNIs as the tone setters while retail investors mostly follow the lead of these counterparts. This is not difficult to understand as both the former categories are investment-savvy, well-informed and have deep pockets while retail investors usually lack these traits. Nevertheless, retail investors have the distinction of making the biggest contributions in highest subscribed IPOs through their sheer participation.
As one can see, the subscription process is very competitive and offers are often oversubscribed due to high demand compared to the number of shares offered. Investors’ bids may exceed the available shares, leading to an allotment process that may not fulfill the requested quantities. Hence, the oversubscription could lead to disappointment if the allocation is lower than desired. One can still enhance chances of successful allotment but the rules have effectively created a lottery-based allotment scenario for IPOs.
Read Also: State-wise IPO in India
The success of an IPO subscription also depends on various factors such as market conditions, the company’s fundamentals, industry prospects, and the overall economic climate. Investors must conduct thorough research and due diligence to make informed decisions and understand the risks associated with investing in an IPO. Overall, IPO subscription provides a chance to invest in new companies but demands careful consideration and analysis for potential gains.
