Blockbuster IPOs! 10 SME issues of 2023 that offered multibagger returns of up to 289%
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IPO Frenzy
Even as the mainstream IPO market went through a lean patch during the first half of the year, the SME space more than made up for the lull with as many as 70 companies listing on the SME platforms of both exchanges. Here are 10 IPOs in 2023 that delivered blockbuster returns to investors. Source: Primedatabase (Data: Closing prices as of July 5, 2023)
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Exhicon-logo-1
Exhicon Events Media, which brought its IPO in March, has offered 289% returns to investors in just three months post the listing. The stock is currently trading at Rs 249 as against an offer price of Rs 64.
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Krishca Strapping Solutions
Krishca Strapping Solutions, whose IPO was subscribed by massive 264 times rose 214%. The company had set an offer price of Rs 54, and the shares are currently trading at Rs 170.
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Remus Pharmaceuticals
Remus Pharmaceuticals's Rs 45.28 crore-IPO was subscribed 42 times at close. The IPO, whose shares were offered at Rs 1,229, has delivered 2135% returns to investors.
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Macfos
Macfos shares have risen 211% from the offer price of Rs 102. The stock is currently trading at Rs 317.
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Vasa Denticity
Vasa Denticity's Rs 51 crore-IPO was subscribed 51 times at close. The company's stock is up 191%, compared with an offer price of Rs 128.
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Mcon Rasayan India
Mcon Rasayan India has fixed an offer price of Rs 40 for its IPO. The stock is currently trading at Rs 109, up about 173%.
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Systango Technologies
Systango Technologies' IPO returns are as much as 155% from an offer price of Rs 90. The company's issue was subscribed 64 times at close.
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Hemant Surgicals
Hemant Surgicals has fixed an IPO price of Rs 90 and the shares are currently trading 155% over the issue price.
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De Neers Tools
De Neers Tools' Rs 21.8 crore IPO was subscribed 15.6 times, but the shares have delivered over 150% returns since.
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Infollion Research Services
The IPO of Infollion Research Services was subscribed 196 times at close. The company has fixed an offer price of Rs 82, and the shares are currently trading at Rs 193, up almost 140%.