Stellar Start! These 7 SME IPOs rose more than 150% on listing day

The initial public offering (IPO) market for Small and Medium Enterprises (SMEs) witnessed a record run in 2023, with 166 companies raising about Rs 4,472 crore during the year, according to brokerage FYERS Research. Out of the 166 companies listed, 136 closed higher on debut and 24 companies recorded over 99.5% gains on listing day. ETMarkets has identified 7 companies from the pack that rose over 150% on the listing day. Take a look: (Source: FYERS Research, ET)

-Listed on: Oct 11, 2023
-Total IPO Subscription: 294.6x
-Issue Price: Rs 38
-Listing Day Close: Rs 136.1
-Listing Day Gain: 258.2%

-Listed on: Aug 31, 2023
-Total IPO Subscription: 152.4x
-Issue Price: Rs 83
-Listing Day Close: Rs 262.4
-Listing Day Gain: 216.1%

-Listed on: Sep 11, 2023
-Total IPO Subscription: 358.6x
-Issue Price: Rs 97
-Listing Day Close: Rs 284.6
-Listing Day Gain: 193.4%

-Listed on: Aug 11, 2023
-Total IPO Subscription: 176.6x
-Issue Price: Rs 118
-Listing Day Close: Rs 317.1
-Listing Day Gain: 168.7%

-Listed on: Jan 10, 2023
-Total IPO Subscription: 428.6x
-Issue Price: Rs 100
-Listing Day Close: Rs 263.7
-Listing Day Gain: 163.7%

-Listed on: Sep 7, 2023
-Total IPO Subscription: 254x
-Issue Price: Rs 185
-Listing Day Close: Rs 472.5
-Listing Day Gain: 155.4%

-Listed on: Aug 18, 2023
-Total IPO Subscription: 450x
-Issue Price: Rs 42
-Listing Day Close: Rs 106.6
-Listing Day Gain: 153.7%