• Multibagger SME IPO converts allottees of ₹1.14 lakh to ₹4.35 lakh in three months
Multibagger SME IPOs: At a time when main boards have failed to generate any significant buzz on Initial Public Offerings (IPOs) on Dalal Street, a good number of IPOs in the SME segment have given tremendous returns to their shareholders. While SME stocks like Dronacharya Ariel have been hitting the circuit ever since they got listed in the secondary markets, there is a huge list of SME stocks which have remained money-making stocks for their investors since their listing in the recent months.
BSE SME IPO Insolation Energy is one such public issue. It was launched in September 2022 at a price band of ₹36 to ₹38 and the public issue listed on the BSE SME Exchange on October 10, 2022 at a level of ₹76, giving a 100 per cent premium to its allottees.
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However, the SME stock didn't stop there. In the last three months of its listing, SME's share has grown to a level of around 145, almost 300 per cent higher than its lower price band of ₹36 per share. In these three months, the SME stock has also made an all-time high of ₹152.95 per share.
₹1.14 lakh becomes ₹4.35 lakh in 3 months
Since one bidder was allowed to apply in lots and one lot of Insolation Energy IPO consisted of 3000 shares of the company, the minimum investment of an allottee in the scrip was ₹1.14 Lakh. Since the stock has climbed up to ₹145 per level, an allottee's ₹1.14 lakh would have become ₹4.35 lakh today, provided the allottee remained invested in scrips despite the strong opening of the shares in the secondary markets.
This multibagger IPO was subscribed 192.79 times in four days of bidding from 26 to 29 September 2022. The retail portion of the public issue was subscribed 235.55 times while its NII portion was subscribed 150.02 times.
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