Multibagger IPO: SME stock Nirman Agri Genetics doubles allottees' meony in six months

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Multibagger IPO: The initial public offering (IPO) of Nirman Agri Genetics Limited is one of the multibagger IPOs that Indian stock market has delivered this year. The public issue listed on NSE SME Emerge in March 2023 and within six months of its listing, it has doubled investment of those allottees, which remained invested in the scrip till date. As mentioned above, the NSE SME IPO was launched in March 2023 at a fixed price of ₹99 per equity share.

The fixed issue opened for bidding on 15th March 2023 and it remained open for bidders till 20th March 2023. The public issue listed on NSE SME Emerge on 28th of March 2023. The SME stock listed at ₹102 apiece, delivering moderate premium to the allottees.

However, after moderate listing, the SME stock has remained in uptrend and went on to climb to its life-time high of ₹204 per share on NSE, which is more than double of the Nirman Agri Genetics IPO price. So, if an allottee had remained invested in the scrip despite moderate listing gain by the NSE SME IPO, absolute value of one's investment in the scrip would have been more than double of the net investment. In a strategic move poised to redefine its trajectory, Nirman Agri Genetics Ltd.

has entered into a Memorandum of Understanding (MOU) with Toshan Seeds Private Limited. This collaborative endeavor signifies a significant expansion in the company's product offerings and market reach. The partnership is anticipated to serve as a pivotal catalyst in amplifying the company's presence in emerging markets.

Nirman Agri Genetics Ltd. conservatively estimates a minimum addition of ₹30 crore to its top line as a result of this synergistic alliance. Nirman Agri Genetics reported a staggering 252.92 per cent surge in total