41 multibaggers, 80% win rate! SME IPOs spreading FOMO among bluechip warriors
Out of the 105 SME IPOs that got listed on Dalal Street so far in the calendar year 2023, a majority 84 have given positive returns. This translates into a win rate of 80%, which means four out of every five SME IPOs made money.
Out of them, 41 have turned multibaggers with the highest returns going up to 357%.
The spectacular bull run is making many bluechip investors uneasy who are now tempted to shift a part of their portfolios to chart-busting minion stocks.
Last week, Basilic Fly Studio IPO, received bids worth a whopping Rs 14,000 crore against its modest issue size of Rs 66 crore and this week Morgan Stanley picked a stake in Rs 43 crore SME IPO Chavda Infra.
Jaw-dropping returns in SME IPOs
Krishca Strapping Solutions IPO, which listed on May 26, has rallied 357% from IPO offer price.
Other top gainers include Exhicon Events Media, VASA Denticity, Remus Pharma, MACFOS, Kaka Industries, Bright Outdoor Media and Oriana Power.
SunGarner Energies, which got listed on NSE Emerge platform on August 31, ended its first day on the stock exchange with a jaw-dropping return of 216%.
Should you munch on SME stocks?
While describing the SME space as interesting and exciting, Dalal Street veteran Sunil Singhania is of the belief that the rally isn’t exactly based on fundamentals and investors need to do their due diligence properly.
“It is mixed. Some good companies are coming up.
