The primary market stood standstill at the beginning of FY21. SBI Cards was the only big listing in the month of March, post which the markets suffered heavily due to the COVID-19 lockdown. Since July, the market saw about 8 big listings, and the stock that rallied the most amongst all its peers is Route Mobile Ltd.

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Route Mobile has delivered 37 percent returns to its shareholders since its listing day, followed by Rossari Biotech (17.8 percent) and Angel Broking (15.4 percent). However, the worst performer Chemcon Speciality Chemicals has slipped 38 percent since its listing.

Not just in-trade, Route Mobile has also reported a strong September quarter this fiscal. The company's Q2FY21 net profit doubled to Rs 32.7 crore as compared to Rs 13 crore for the same period last year.

Revenue from operations surged 78 percent YoY to Rs 349.3 crore from Rs 196.6 crore in the year-ago period.

The IPO of Route Mobile was subscribed nearly 75 times and saw a strong debut of over 100 percent from its issue price on the day of its listing.

In fact, many of the IPOs launched in September received a strong investors' interest and also made hefty listing gains.

In the case of Chemcon, the company received a very strong investor response on the day of its IPO launch. It was over-subscribed within hours but it failed to create profits for its shareholders after listing.

With reopening and steady recovery of the economy, more and more companies are willing to get listed on the exchanges looking at the current demand. Investors' appetite for new share sales is building up, thus encouraging companies to raise money from the public.

The upcoming IPOs in the pipeline are Gland Pharma, Burger King, Anand Rathi, Kalyan Jewellers among others.

(Edited by : Jomy)

First Published:Nov 6, 2020 3:19 PM IST