Calendar year 2020 saw the market debut of 13 companies, starting SBI Cards and Payment Services in March. The country’s IPO market slowly gained momentum following a lukewarm response to the listing of the credit card arm of the country’s largest bank. Mazagon Dock Shipbuilders’ IPO, in September, was subscribed more than 157 times the shares on offer, making it the best public offer of the year. In terms of IPO subscription, Mazagon was followed by the IPOs of Burger King India and Happiest Minds Technologies, which were subscribed almost 157 times and 151 times respectively.
In terms of listing gains, Chemcon Speciality Chemicals, Happiest Minds and Route Mobile were the best, with shares more than doubling in their market debuts.