There have been 26 IPOs since April this year, collectively mopping up more than Rs 21,560 crores from the primary markets.
The current year 2017 is turning out to be the best year yet for companies looking to raise capital in primary markets through IPO. There have been 26 IPOs since April this year, collectively mopping up amount to the tune of Rs 21,560 crores, according to data from the prime database, a primary market tracker. While there have been a plethora of IPOs so far this year, some of them have been real money spinners. We take a look at 5 IPOs which have more than tripled investor wealth in less than the last seven months-
Madhav Copper Ltd
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The Gujarat-based copper industry player listed on the exchanges with an issue price of Rs 81 on February 6.The shares have soared since then and have returned more than 282% so far. The shares were trading at Rs 309.75 on Thursday morning on NSE. According to its website, the company has a diverse product portfolio ranging from ferrous product TMT bars, Round Bars, Ingots, Ship Breaking, Construction, Diamond and Jewelry etc.
The IT and ITES player made its debut on the exchanges with an issue price of Rs 45. Since then, the shares have seen a meteoric rise to Rs 166 on NSE this morning, translating to returns of more than 268% since its listing on March 24, 2017. The company offers a comprehensive suite of solutions through a combination of leading edge technology, distinctive domain knowledge, professional management and a strong presence across the country, according to its website.
Billionaire Radhakishan Damani-owned Avenue Supermarts crossed Rs 60,000 crores market capitalisation last week.The stock had made a mega entry in the market with a bumper listing pricing of Rs 606 at the NSE as against its issue price of Rs 299 per share on March 21, 2017. The stocks have registered returns of more than 261% and were trading at Rs 1,081 on NSE this morning. The meteoric rise of the stock led Ashburton Investments, a prominent investor in Infosys to say that it missed the bus on DMart. In conversation with ET Now, Jonathan Schiessl, the chief investment officer at Ashburton Investments recently said that he initially felt that the company was overvalued.
The shares of the home improvement product’s producer opened to the investors on April 5, with an issue price of Rs 460. Today afternoon, the shares were trading at Rs 1,467.35, implying a return of more than 217%. Notably, research and brokerage firm Edelweiss has initiated coverage with a buy rating on the stock. The research house has set a target price of Rs 1,575 for the stocks, implying potential upside of 20 percent.
The paper industry player has nearly tripled investor wealth since the launch of its IPO on JUly 18 with an issue price of Rs 40. The shares were trading at Rs 112.35 on NSE, down by nearly 1% since the previous close. According to its website, Ballarpur Industries Limited offered its distributorship to the company in 2009 for a Chromo Paper Plant manufactured by BILT.