Companies issue initial public offerings (IPOs) to raise funds for expansion, debt repayment, or other financial objectives. Going public boosts company exposure, reputation, and market access, which allows companies to attract additional investors. IPOs also give liquidity to early investors and personnel, which aligns with growth and long-term strategic goals.
Here are the stocks that gave multi-bagger returns since the listing in 2024.
KP Green Engineering Limited
KP-Green Energy is an innovative engineering business that offers high-quality services and renewable energy solutions throughout India. The firm provides cutting-edge technology in hybrid and load-shearing PV systems, which make use of every photon of solar energy that falls on your PV panels.
The stock of the company was listed on the Bombay Stock Exchange (BSE) on March 22, 2024, and on Friday, the stock closed at Rs 637.55 per share, giving a multi-bagger return of 190 per cent. The market capitalization of the company stands at Rs 3,187.75 crore.
The company came up with an IPO via a fresh issue to finance the capital expenditure towards setting up a new manufacturing unit to expand its current production capabilities and expand its product portfolio.
Moreover, the KP Green Engineering IPO is subscribed 29.50 times on March 19, 2024. The public offering was subscribed to 20.12 times in the retail category, 31.86 times in the QIB category, and 48.23 times in the NII category.
Vruddhi Engineering Works Ltd
Vruddhi Engineering Works Ltd is a prominent producer, supplier, and exporter of Rebar Couplers, with extensive experience and competence. The firm provides complete mechanical splicing solutions, including design, production, testing, logistics, and rebar threading.
The stock of the company was listed on the Bombay Stock Exchange (BSE) on April 3, 2024, and on Friday, the stock closed at Rs 331.30 per share, giving a multi-bagger return of 391 percent. The market capitalization of the company stands at Rs 83.61 crore.
The company came up with an IPO via a fresh issue to meet working capital requirements and general corporate purpose. The Vruddhi Engineering Works IPO is subscribed 12.67 times on March 28, 2024. The public issue subscribed 20.10 times in the retail category, 1.05 times in the QIB category, and 28.14 times in the NII category.
Teerth Gopicon Ltd
Teerth Gopicon Limited operates in Madhya Pradesh, where it constructs roads, and sewers, and provides water supplies. In addition, the company has worked as a subcontractor on an Indore residential tower project.
The stock of the company was listed on the National Stock Exchange (NSE) on April 16, 2024, and on Friday, the stock closed at Rs 324.20 per share, giving a multi-bagger return of 147 percent. The market capitalization of the company stands at Rs 389.03 crore.
The company came up with an IPO via a fresh issue to fund working capital requirements and general corporate purposes. The Teerth Gopicon IPO is subscribed 75.54 times on April 10, 2024. The public issue subscribed 44.33 times in the retail category, times in the QIB category, and 97.12 times in the NII category.
Jyoti CNC Automation
Jyoti CNC Automation Limited is a manufacturer and supplier of CNC machines. The product range includes CNC turning centres, CNC turning-milling centres, CNC vertical machining centres (VMCs), CNC horizontal machining centres (HMCs) etc.
The stock of the company was listed on the National Stock Exchange (NSE) on Jan 16, 2024, and on Friday, the stock closed at Rs 1,063.15 per share, giving a multi-bagger return of 161 percent. The market capitalization of the company stands at Rs 24,178.49 crore.
The company came up with an IPO via a fresh issue to repay in full or part of certain borrowing availed by the company and fund the long-term working capital requirements of the company.
The Jyoti CNC Automation IPO is subscribed 40.49 times on January 11, 2024. The public issue subscribed 27.50 times in the retail category, 46.37 times in the QIB category, and 38.33 times in the NII category.
Written by:- Abhishek Singh
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