Multibagger IPO: NSE SME stock doubles allottees' money in six months
Multibagger IPO: Investing in stocks is like investing in business and one should hold one's shareholding as long as one can after getting invested. A stock investor has to believe that money is not in the buying and selling of stocks but in the holding. So, one should hold the stock as long as one can and this rule implies on the primary market investors as well.
An IPO investor should hold the stock till the fair price of the proposed shares of the company is achieved. To understand how long-holdings in an IPO can deliver, one needs to look at the Canarys Automations share price history. Canarys Automations IPO was launched in September 2023 at a price band of ₹29 to ₹31 per equity share.
The SME IPO was proposed for listing on the NSE SME Emerge platform where it was listed on 11th October 2023. The book build issue had a strong debut on the NSE SME platform as it opened on the NSE SME Emerge platform at ₹43.45 apiece, delivering a 40 percent listing gain to its allottees. However, the SME stock didn't end here only.
The stock further extended its listing gains and made an intraday high of ₹44.90 apiece on the listing date itself. The SME stock continued to attract bulls post-listing and went on to touch its record high of ₹62 per share, doubling allottees' money in just six months of the share listing. The SME company has announced to foray into inorganic growth strategy by signing of a non-binding agreement to acquire a controlling interest in a distinguished software services and consulting company based in North America.
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