• Multibagger IPO offered in December 2022 at ₹30 per share and was listed on BSE SME Exchange at ₹57 per share
Multibagger IPO: Shares of PNGS Gargi Fashion Jewelery got listed on the BSE SME Exchange last month at a hefty premium of nearly 100 per cent to the issue price of ₹30 per equity share. However, the dream debut for the SME stock did not end on the listing date only. Multibagger IPO has become a multibagger stock within a month of listing. One of stocks offered by the Indian stock market in recent times has given more than 300 per cent returns to its allottees who remained invested in the stock post the dream debut of the shares on December 20, 2022.
PNGS Gargi Fashion Jewelery share price history
The public issue of this fashion jewelry company was launched in December 2022 at a fixed price of ₹30 per equity share. Subscription to the SME IPO opens on December 8, 2022 and bidding for the issue closes on December 13, 2022. In the four days of listing, the SME issue was subscribed 230.94 times, while its retail portion was subscribed 248.68 times. Following a strong response from investors, the public issue listed on BSE SME Exchange on December 20, 2022, at ₹57 per share and higher than its listing date high of ₹59.85 per share, providing almost 100 per cent listing premium to its allottees climbed.
Since the beginning of the new year, this multibagger SME stock has hit the upper circuit in all the five trading sessions in 2023. If someone had bought shares of PNGS Gargi Fashion Jewelery post listing, his money would have doubled as the stock has grown since its listing. From ₹57 per share to ₹129.35 per level, a delivery of over 115 per cent to its shareholders in less than a month of its listing (14 trading sessions including listing date).
impact on investment
One bidder was allowed to apply in lots and one lot of PNGS Gargi Fashion Jewelery IPO consisted of 4000 shares of the company, which means the minimum investment of the allottee in SME stock was ₹1.20 Lakh.
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