5 best SME IPOs of 2023: These public issues gave highest listing gains

While secondary markets in India scaled new heights in 2023, an even greater euphoria was seen in the primary markets -- especially in SME IPOs. The BSE SME IPO index gained 87.44 percent this year till December 22. This is significantly more than the BSE IPO index, which rose 41.67 percent, and the main market index BSE Sensex, which gained 16.25 percent. Here are the 5 SME IPOs that returned the highest listing gains over the issue price, at the close of their day 1 of trading.

Goyal Salt posted the best listing day gains for 2023, with the stock listing at a bumper premium of 258.2 percent on October 11. The stock closed at Rs 136.1 on the listing day, against the issue price of Rs 38. Goyal Salt stock ended at Rs 153 on December 22, giving a return of 302.6 percent from the issue price. The salt refining company from Rajasthan had a Rs 18.63 crore IPO, which was subscribed 294.61 times.

Sungarner Energies, which is into manufacturing solar and EV products, had a stellar listing day gain of 216.1 percent. On August 31, the shares closed at Rs 262.35, compared to its issue price of Rs 83. The stock has moderated since then but has still given a year-to-date return of 142.16 percent from the issue price, closing at Rs 201 on December 22. The power solution company’s Rs 5.3-crore IPO was subscribed 138 times.

Basilic Fly Studio, the company that worked on films such as Top Gun Maverick, Avengers Endgame and Spiderman: No Way Home, had a blockbuster IPO as well. Basilic stock listed at a premium of 193.35 percent at Rs 284.6 on September 11 against the issue price of Rs 97. The stock has since risen to Rs 301.95, giving returns of 211.28 percent so far. The Rs 66.3-crore IPO was subscribed 286.61 times.

With power being one of the flavours of the season, 2 power companies make this list. Oriana Power stock closed the listing day at a premium of 168.7 percent, at Rs 317.1 on August 11, against its issue price of Rs 118. To date, the stock has given a multi-bagger return of 325.25 percent, closing at Rs 501.8. Oriana Power’s Rs 59.7-crore IPO was subscribed 176.78 times.

Anlon Technology Solutions is the final company that made this list. The stock’s closing price on its listing day was Rs 263.7 against its issue price of Rs 100, on January 10, thus recording a listing day gain of 163.7 percent. The stock has given a year-to-date return of 137 percent as it closed at Rs 237 on December 22. Interestingly, the IPO opened for subscription in the previous year on December 29, 2022, and closed on January 2, 2023. It raised Rs 15 crore, and was subscribed over 400 times.