• Multibagger stocks: Mauritius-based FIIs have bought 6 lakh shares of this circuit to circuit SME stocks at a payment of ₹41.43 per share.
Multibagger IPO: Mauritius based Foreign Institutional Investor (FII) Vikas India EIF Fund – Incube Global Opportunities has bought stake in National Stock Exchange (NSE) listed entity Horizon Polyline Limited. According to NSE data, it has bought 6 lakh shares at a price of ₹41.43 per share through bulk deal. This means that FIIs have invested ₹2,48,58,000 or ₹2.48 crore in this circuit to circuit SME stocks.
Mauritius-based FIIs bought these shares through bulk deals executed earlier this week, which led to heavy buying in this NSE SME stock. In the last five trading sessions, the NSE SME scrip has hit upper circuit in four sessions while it hit lower circuit on Thursday. It would be important to note that BSE SME stock had recently traded ex-split. The Board of Directors of SME Company recently announced a stock split in the ratio of 1:5. They set 27 October 2022 as the record date for the stock split, reducing the face value of each share from ₹10 to ₹2 per equity share.
horizon polyline share price history
The initial public offering (IPO) of Horizon Polyline Limited was launched in September 2018 at a fixed price band of ₹35 per share. The public issue was proposed for listing on the NSE SME Exchange. Horizon Polyline share price today is ₹44.50 after price adjustment following stock subdivision in 1:5. Therefore, had the stock split not happened, the stock price would have been around ₹220 per share. Hence, it is one of the multibagger IPOs that the Indian market has produced in recent years.
This small-cap stock with a market cap of ₹225 crore is one of the multibagger stocks of the Indian stock market. It has grown from around ₹6.81 per share (price adjusted after stock subdivision in 1:5 ratio) to ₹44.50 per share, giving its shareholders nearly 550 per cent return in year-to-date (YTD) time.
Similarly, compared to the IPO price band of ₹35, this public issue is one of the multibagger IPOs. Had an allottee stayed invested in this public issue post allotment, his money would have grown by 500 per cent in the last four years. In other words, ₹1.40 lakh invested in one log IPO would have been around 8.40 lakh today.
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