At a time when Indian markets are facing a turbulent phase, 11 companies which were listed this year have delivered good returns. In fact, 7 out of 11 companies rose over 4 percent year-to-date (YTD) and remaining gained in double-digits YTD.
The topmost gainers are IndiaMART InterMESH and Metropolis Healthcare, which rallied over 36 percent each followed by Rail Vikas Nigam, Neogen Chemicals and Xelpmoc Design.
The ones that gave double-digit negative returns were MSTC and Sterling & Wilson Solar, which fell 23 percent and 20 percent, respectively from their listed price. The other two that declined marginally are Affle India and Polycab.
The IPOs listed this year went through a difficult phase on the back of slowing economic growth, increasing foreign outflows and demand slowdown. This has been the worst market performance in years as global macro factors hampered risk appetite.
Despite the concerns, few companies continued to perform well. Out of the 11 IPOs listed this year, only two companies reported negative double-digit returns.
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