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The first month of 2024 witnessed four IPOs being listed in the Indian stock market. Companies from various industries debuted on the stock market. While some witnessed stellar performances, others faced a lukewarm reception. In this blog, let us look at the companies listed on the mainboard IPO in January 2024. Let's delve into the winners, the underperformers, and the overall trends that shaped this exciting month for investors for their IPO investment.

A brief overview of the recently listed IPOs

Issuer CompanyListing DateIssue Size (Rs Cr.)Lot SizeIssue Price (Rs)Listing PriceListing Gain/Loss
Nova AgriTech Limited IPO31-Jan-24143.81365415534.10%
EPACK Durable Limited IPO30-Jan-24640.0565230221-3.91%
Medi Assist Healthcare Services Limited IPO23-Jan-241,171.583541846010.05%
Jyoti CNC Automation Limited IPO16-Jan-241,0004533137011.78%

Nova Agritech

  • This agricultural technology company focuses on enhancing soil health and maximising crop yields through its range of natural fertilisers, biopesticides, and soil testing solutions.
  • Rising concerns about soil degradation and the growing preference for sustainable farming practices position Nova Agritech for potential growth.
  • With an issue size of Rs. 143.81 crores, its IPO on January 31st saw a 34% premium, reflecting investor confidence in its ability to cater to the evolving needs of the agricultural sector.

EPACK Durable

  • Established in 1992, EPACK Durable has carved a niche in the plastic packaging industry, catering to diverse sectors like pharmaceuticals, FMCG, and food.
  • Its wide range of customised packaging solutions and strong customer base, including Unilever and Nestle.
  • The IPO was listed at a 3.9% discount on January 30th with an issue size of Rs. 640 crores.
  • Looking ahead, EPACK Durable aims to expand its geographical reach and foray into new segments like biodegradable packaging solutions.

Medi Assist Healthcare

  • This healthcare administration services provider simplifies health insurance claims processing and manages medical networks for insurance companies.
  • Benefiting from the rising penetration of health insurance and the trend towards outsourcing claim processing, Medi Assist Healthcare witnessed a 10% premium on its January 23rd listing for its Rs. 1,171.58 crores.
  • The company plans to leverage its digital platform and AI-powered tools to further streamline claim processing and offer value-added services to its clients.

Jyoti CNC Automation

  • Catering to the growing demand for automation in Indian manufacturing, Jyoti CNC Automation manufactures CNC machines and related components for various industries.
  • Its focus on innovation and quality control earned it a loyal customer base and a strong reputation in the market.
  • The 12% premium on its January 12th IPO highlights investor optimism in the company's ability to capitalise on the burgeoning industrial automation space. The issue size was Rs. 1,000 crores.
  • Jyoti CNC Automation plans to expand its product portfolio and geographical reach to maintain its growth trajectory.

Conclusion

With new companies joining the Indian stock markets, investors are looking forward to a dynamic 2024. From industrial automation to packaging, January has introduced us to companies from different industries. That said, make sure you do thorough research on the upcoming IPOs before you invest.

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