Multibagger IPO: SME stock gives 350% return to allottees in 15 months. ₹1.14 lakh turns to ₹5.52 lakh
Multibagger IPO: Investing in an Initial Public Offering (IPO) is like investing in a business. Like investing in stocks, one needs to scan the financials of the company offering its shares in the primary market. Like intraday stock market traders, a good number of primary market investors invest in an IPO and exit immediately booking listing premiums.
However, a smart investor is advised to maintain the same 'buy, hold, and forget' while investing in an IPO as well. To understand, how a long-term IPO investor can gain on one's investment, one needs to look at the Phantom Digital Effects IPO. The NSE SME issue was launched at a price band of ₹91 to ₹95 per equity share in October 2022.
The SME stock listed on the BSE SME exchange at ₹300 apiece level on 21st October 2022, delivering a whopping 200 per cent return to the lucky allottees. However, the SME share didn't end here only. The small-cap stock surged further and ended at ₹312.70 apiece level on the listing date.
For a short-term investor, this over 200 per cent return on one's investment in less than a month was enough luring to book profit and exit. however, for a long-term investor, holding the scrip turned out more soothing as the stock went on to touch a lifetime high of ₹593.45 after listing at a stellar premium. Also Read: Baweja Studios IPO: Price band set at ₹180-190; check other issue details Phantom Digital Effects share price is currently oscillating around ₹460 per share level, which is more than 350 per cent from the upper price band of its IPO price.
Read more on livemint.com
