The year 2023 has seen 20 companies come up with their initial public offering (IPO), so far, and another three are in the pipeline. All the twenty listings so far have delivered positive returns to investors.
The most successful listing this year has been of Cyient DLM, a demerged entity from Cyient. The company has been a trusted electronics and mechanical manufacturing partner and systems supplier to some of the largest players across multiple industries. It went public with an IPO price of ₹ 265 and its shares settled at ₹ 669.00 apiece today, marking multibagger returns of 152.45 percent, in less than two months after listing.
Here are a few IPOs that witnessed subscriptions of less than ten times but managed to deliver up to 71 percent returns since then:
Nexus Select Trust
Nexus Select Trust is the owner of India’s leading consumption centre platform of high-quality assets that serve as essential consumption infrastructure and is the first publicly listed consumption centre REIT in India.
The company’s shares had an issue price of ₹ 100.00 and its shares settled at ₹ 121.76 apiece on the Bombay Stock Exchange (BSE), thereby delivering 21.76 percent returns. The issue was subscribed 5.44 times.
Avalon Technologies
Avalon Technologies is a leading fully integrated Electronic Manufacturing Services (“EMS”) company with end-to-end capabilities in delivering box-build solutions, focusing on high-value precision-engineered products.
The company’s shares had an issue price of ₹ 436.00 and its shares settled at ₹ 604.35 apiece on the Bombay Stock Exchange (BSE), thereby delivering 38.61 percent returns. The issue was subscribed 2.34 times.
HMA Agro Industries
HMA Agro Industries is a food trade organisation for handling food and agro products including frozen meat, prepared/frozen natural products, vegetables, and cereals in India.
The company’s shares had an issue price of ₹ 585.00 and its shares settled at ₹ 820.00 apiece on the Bombay Stock Exchange (BSE), thereby delivering 40.17 percent returns. The issue was subscribed 1.62 times.
Divgi Torqtransfer Systems
Divgi Torqtransfer Systems is one of the leading players supplying transfer case systems to automotive OEMs and the largest supplier of transfer case systems to passenger vehicle manufacturers in India.
The company’s shares had an issue price of ₹ 590.00 and its shares settled at ₹ 1006.00 apiece on the Bombay Stock Exchange (BSE), thereby delivering 70.51 percent returns. The issue was subscribed 5.44 times.
Written by Simran Bafna
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