Multibagger IPO: SME stock Nirman Agri Genetics gives 125% return to allottees in six months

livemint.com:

Multibagger IPO: The initial public offering (IPO) Nirman Agri Genetics is one of the multibagger public issues that Indian stock market has delivered in 2023. This NSE SME issue was launched in March 2023 at a fixed price of ₹99 per equity share. The SME stock listed on NSE SME Emerge platform on 28th March 2023 at a normal premium of ₹3 per equity share.

However, if an allottee had remained invested in this SME share with its conviction it had developed after scanning is financials during primary market stage, its money would have appreciated to the tune of 125 per cent today because the SME stock is currently quoting around ₹225 apiece on NSE. As mentioned above, Nirman Agri Genetics IPO was launched in March 2023 at a fixed price of ₹99 per equity share. A bidder was allowed to apply in lots and one lot of the public issue comparised 1200 company shares.

So, minimum investment of an allottee comes at ₹1,18,800 ( ₹99 x 1200). The public issue was proposed for listing on NSE SME Emerge platform. The SME stock listed on NSE on 28th March 2023 at ₹102, delivering around 3 per cent premium to the lucky allottees.

However, Nirman Agri Genetics share price witnessed huge buying interest after par listing. Nirman Agri Genetics share price today is around ₹225 per share. This means, if an allottee had remained invested in this SME stock despite par listing, its invested amount would have surged more than 125 per cent.