Multibagger IPO: SME stock Bondada Engineering doubles allottees' money within one week of listing
Multibagger IPO: Bondada Engineering share price listed on BSE SME exchange on 30th August 2023 at ₹142.50 apiece levels, delivering a whopping 90 per cent premium to the lucky allottees. However, the SME stock didn't end here only. It extended its gains further and went on to hit intraday high of ₹149.62 apiece on the listing date, but missed to double allottees' money by a whisker as the fixed issue was offered at ₹75 per equity share.
But, Bondada Engineering share price today climbed to a new peak of ₹185.95 apiece, entering the list if multibagger SME IPOs in 2023. In fact the SME IPO doubled allottees' money within a week of its listing on BSE SME exchange. Bondada Engineering IPO was launched in August 2023 at a fixed price of ₹75 apiece.
The public issue worth ₹42.72 crore was proposed for listing on BSE SME exchange and it was open for subscription from 18th August 2023 to 22nd August 2023. Finalisation of share allotment was done on 25th August 2023 while initiation of refunds was done on 28th August 2023. The SME stock listed on BSE on 30th August 2023.
A retail investor was allowed to apply for the BSE SME IPO in lots and one lot of the SME IPO comprised 1,600 company shares. This means, minimum investment of an allottee in this newly listed SME stock was ₹1.20 lakh ( ₹75 x 1600). within one week of listing, the SME stock has climbed to a new peak of ₹185.95 apiece levels.
If an allottee had remained invested in this stock till date, its ₹1.20 lakh would have appreciated to the tune of more than 2.47 times. In other words, if an investor had remained invested in this BSE SME IPO despite whopping listing gains, its ₹1.20 lakh would have turned to ₹2,97,520 or around ₹2.97 lakh today. The multibagger stock has
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