Multibagger IPO: NSE SME issue doubles allottees' money within three months of listing
Multibagger IPO: The initial public offering (IPO) of Sahana System Limited was launched in May 2023 at a price band of ₹132 to ₹135 per equity share. The book build issue was proposed for listing on NSE SME exchange and it listed on the same on 12th June 2023 at ₹163 per share levels, delivering near 21 per cent premium to the lucky allottees. Those who had applied for the SME IPO with short term time horizon, must have booked profit and exited their respective positions.
However, if an allottee had remained invested in this SME stock, it's money would have doubled today as Sahana System share price today is around ₹282, which is more than double of the upper price band of this NSE SME IPO. The NSE SME IPO listed on 12th June 2023 on the exchange at ₹163 apiece levels. But, it didn't stopped here only.
The multibagger IPO extended its listing gain further and ended at ₹171.15 per share levels on the first session after listing. After listing at around 21 per cent premium, the SME stock continue to scale upside and today it is quoting around ₹282 apiece on NSE, delivering multibagger returns to those allottees who remained invested in the scrip after strong debut on Dalal Street. Their money has got doubled in this SME stock within three months of listing.
The stock is in news for expanding its horizon. The SME company has declared acquiring Softvan Private Limited and Softvan Labs Private Limited. This acquisition, valued at ₹15 crore, demonstrates the company's commitment to innovation and its determination to strengthen its position in the tech industry.
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