Over the past few years, many companies have gone public, offering their shares to the public for the first time through Initial Public Offerings (IPOs). For investors, this is often an exciting opportunity, as IPOs can lead to big gains when the companies perform well in the stock market.
In this article, we’ll look at some of the best-performing IPOs from the last five years, those that have seen the biggest gains since they first hit the market. These companies have not only managed to grow, but they’ve also delivered strong returns for investors. Let’s dive into the ones that stood out for their impressive growth and success.
Here is the list of stocks to look out for
Indian Railway Finance Corp Limited
IRFC Limited is a Public Sector Undertaking (PSU) under the Ministry of Railways, Government of India. The company primarily finances the procurement of rolling stock (trains, locomotives, etc.) and other assets for Indian Railways. IRFC raises funds through issuing bonds and offers long-term financing to support the expansion and modernization of the railway network.
The shares were listed on the BSE and NSE on January 29, 2021, with a book-building size of ₹4,633.38 crores. The issue was a combination of a fresh issue and an Offer for Sale (OFS), and the listing GMP (Grey Market Premium) of the company was 1.00 percent. Since its listing date, the stock has delivered a return of 433 percent.
The company’s revenue rose by 2.25 percent from Rs. 6,766.02 crore to Rs. 6,918.24 crore in Q1FY25-26. Meanwhile, the Net profit rose from Rs. 1,576.83 crore to Rs. 1,745.69 crore during the same period.
Kaynes Technology Limited
Kaynes Technology is a leading provider of electronics manufacturing services (EMS) and integrated solutions in India. The company specializes in designing and producing high-quality electronic products, ranging from automotive electronics to industrial, medical, and consumer electronics. Kaynes provides end-to-end solutions, including R&D, prototyping, and large-scale manufacturing, catering to a global client base.
The shares were listed on the BSE and NSE on November 22, 2022, with a book-building size of ₹857.82 crores. The issue was a combination of a fresh issue and an Offer for Sale (OFS), and the listing GMP (Grey Market Premium) of the company was 37.48 percent. Since its listing date, the stock has delivered a return of 725 percent.
The company’s revenue rose by 31.6 percent from Rs. 532.29 crore to Rs. 700.57 crore in Q1FY25-26. Meanwhile, the Net profit rose from Rs. 50.78 crore to Rs. 74.61 crore during the same period.
Indian Renewable Energy Development Agency Ltd
IREDA Limited is a PSU focused on the development and financing of renewable energy projects in India. It works with both public and private sector entities to fund the development of clean energy projects such as wind, solar, hydro, and biomass. IREDA aims to promote the government’s renewable energy goals, and it plays a pivotal role in financing sustainable and green energy projects across the country, supporting India’s clean energy transition.
The shares were listed on the BSE and NSE on November 29, 2023, with a book-building size of ₹2,150.21 crores. The issue was a combination of a fresh issue and an Offer for Sale (OFS), and the listing GMP (Grey Market Premium) of the company was 37.50 percent. Since its listing date, the stock has delivered a return of 140 percent.
The company’s revenue rose by 29.7 percent from Rs. 1,510.71 crore to Rs. 1,959.53 crore in Q1FY25-26. Meanwhile, the Net profit declined from Rs. 383.69 crore to Rs. 246.68 crore during the same period.
KRN Heat Exchanger and Refrigeration Ltd
KRN Heat Exchanger and Refrigeration Ltd specializes in the design, manufacture, and supply of heat exchangers and refrigeration systems for industrial applications. These products are essential for cooling, heating, and energy efficiency in various sectors like manufacturing, food processing, and pharmaceuticals. The company has built a strong reputation for providing customized solutions to meet the specific needs of its clients.
The shares were listed on the BSE and NSE on October 3, 2024, with a book-building size of ₹341.95 crores. The issue was completely of a fresh issue, and the listing GMP (Gray Market Premium) of the company was 106.82 percent. Since its listing date, the stock has delivered a return of 80 percent.
The company’s revenue rose by 22.5 percent from Rs. 96.97 crore to Rs. 118.86 crore in Q1FY25-26. Meanwhile, the Net profit rose from Rs. 11.97 crore to Rs. 12.42 crore during the same period.
Quality Power Electrical Equipment Ltd
Quality Power Ltd is involved in the generation and distribution of electrical power in India. The company focuses on providing reliable power solutions for industries, residential sectors, and infrastructure projects. They also engage in power transmission, distribution, and the maintenance of electrical systems, ensuring a smooth and continuous energy supply to urban and rural areas.
The shares were listed on the BSE and NSE on February 24, 2025, with a book-building size of ₹858.70 crores. The issue was a combination of a fresh issue and an Offer for Sale (OFS), and the listing GMP (Grey Market Premium) of the company was 1.18 percent. Since its listing date, the stock has delivered a return of 108 percent.
The company’s revenue rose by 143 percent from Rs. 79.66 crore to Rs. 194.08 crore in Q1FY25-26. Meanwhile, the Net profit declined from Rs. 31.3 crore to Rs. 24.14 crore during the same period.
Written by Sridhar J
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