Multibagger IPOs: These recently listed shares have delivered over 100% return in 2023

At least 43 companies that listed on the main bourses this year have garnered more than Rs 33,500 crore from the primary market. And some of them have delivered robust return to investors.

With a return of 146 per cent against issue price, Cyient DLM is the top gainer. Shares of the company are hovering around Rs 652.80 against the issue price of Rs 265. The scrip was listed on July 10.

Senco Gold (up 132 per cent), Vishnu Prakash R (up 117 per cent), EMS (up 113 per cent), Plaza Wires (up 103 per cent) and Utkarsh Small Finnace Bank (up 102 per cent) have also more than doubled investors’ wealth.

Among the other major gainers, shares of Signature Global, Divgi Torqtransfer, Mankind Pharma, Sah Polymers, JSW Infrastructure, Concord Biotech, Netweb Technologies, RR Kabel, Manoj Vaibhav Gems, Zaggle Prepaid Ocean, SBFC Finance, Global Surfaces, Aeroflex Industries, Honasa Consumer, Jupiter Life Line and Protean e-Gov Tech have also advanced between 50 per cent and 100 per cent post listing.

In terms of subscription, Plaza Wires, Ideaforge Technology and Utkarsh Small Finance Bank got subscribed more than 100 times. Shares of Ideaforge Technology have gained 14 per cent so far against the issue price of Rs 672. On the other hand, initial public offerings of Aeroflex Industries, Ratnaveer Precision, Netweb Technologies, Vishnu Prakash R, ESAF Small Finance, EMS, Senco Gold, SBFC Finance, Cyient DLM, IKIO Lighting, Jupiter Life Line and ASK Automotive also subscribed more than 50 times. Shares of Aeroflex Industries, Ratnaveer Precision, Netweb Technologies have gained 49 per cent, 21 per cent and 64 per cent so far compared with their respective issue price.

At present, the ongoing public offers including Tata Technologies and Gandhar Oil Refinery (India) have subscribed more than 26 times and 23 times, respectively. Flair Writing Industries and Fedbank Financial Services also subscribed over 14 times and 1.35 times so far on the last day of bidding process till 1 pm (IST) on Friday.

Sharing his view on the appetite of investors, Mahavir Lunawat, Managing Director, Pantomath Capital Advisors said, “The huge appetite for equities stems from the confidence that investors have in the India growth story and the large universe of fast-growing, well-managed companies, which expected to deliver good profits.”

Of late, the market regulator Sebi has announced a reduction in the timeline for listing shares on stock exchanges following the closure of IPOs. The regulation has cut the listing timeframe from the extant T+6 to T+3. “Reduced timeline means that investor money would be blocked for a shorter duration of time while for a company. Investors now have the opportunity for having early credit and liquidity for their investment, which enable investors to analyse and participate in a greater number of IPOs opening parallel, as we gear for bigger capital formation,” Lunawat said adding nearly 300 companies have debuted on the bourses in the 10 years to FY23. All this has been possible because of the fast-growing and deepening secondary market.

 

Also read: Tata Tech IPO subscribed 22.25x on Day 3 so far; issue closes today

 

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