IPO report card: 2024 can be one of the best years by listing gains. But investors must be cautious.

The primary market usually starts bustling with activity when equities witness a secular bull-run and valuations enter the expensive territory. Over the last two years, a slew of companies – both big and small – came out with their initial public offerings (IPOs) while some have created substantial wealth for investors. But as valuations get stretched and retail investors turn greedy for listing gains, many small companies tap the capital