Top SME IPOs of 2023: Stocks that delivered multibagger returns of up to 182% since listing

As markets rebounded in 2023, a remarkable phenomenon emerged in the realm of Small and Medium-sized Enterprises (SMEs): a string of Initial Public Offerings (IPOs) that defied expectations and became multibagger success stories year-to-date (YTD). In the 2023 IPO, more than a hundred SMEs in total have issued shares.  

These SME IPOs have sparked the interest of investors looking for the next big opportunity in the stock market, in addition to providing significant returns for their early backers. The following 5 stocks are examples of multibaggers YTD.

Eastern Logica Infoway Ltd:

Eastern Logica Infoway distributes and retails smartphones, IT hardware, software, and allied accessories and services.The company has retail stores, distribution facilities, and virtual offices spread across 11 Indian cities. It sells products on e-commerce sites like Amazon, Flipkart, Tata Cliq, Udaan, and others too. Eastern Logica Infoway Limited, was established in 199, headquartered in Kolkata, India. 

The stock has a market cap of Rs. 167 crore and has increased 125% since listing and in FY23, its revenue was Rs. 705 crore and Net Profits stood at Rs. 12 crore. It closed at Rs. 584.95, up 1% from its previous close.

Gayatri Rubbers and Chemicals Ltd:

Gayatri Rubbers and Chemicals produces and sells goods made of rubber. The business sells clear PVC profiles, sponge rubber components, rubber compound, and aluminum and automotive rubber profiles. Its products are used in front shields for e-rickshaws, solar panels, metro trains, and container seals. The business is headquartered in Faridabad, India, and was established in 2009.

The stock has a market cap of Rs. 54 crore and has increased 122% since listing and in FY23, its revenue was Rs. 22 crore and Net Profits stood at Rs. 1 crore. It closed at Rs. 94.15, flat at its previous close.

Bright Outdoor Media Ltd:

Bright Outdoor Media provides out of home advertisement services in India. It offers advertising media services, including an array of service hoardings, such as railway boards, railway panels, TV advertising and much more. It also provides various communication solutions to clients and also engages in the real estate business, which mainly includes sale and purchase of properties and sharing the same on rental/leave and license basis. The company was founded in 1980 and is based in Mumbai, India.

The stock has a market cap of Rs. 653 crore and has increased 182% since listing and in FY23, its revenue was Rs. 50 crore and Net Profits stood at Rs. 3 crore. It closed at Rs. 485, up 4% from its previous close.

Infinium Pharmachem Ltd: 

Infinium Pharmachem engages in the manufacturing and supplying of iodine, iodine derivatives, and active pharmaceutical ingredients (APIs) in India and internationally. The company provides iodine derivatives and iodine based molecules/ APIs/ Iodination reaction based bulk drugs.In addition, the company offers integrated contract research and manufacturing services and was founded in 2003, based in Anand, India.

The stock has a market cap of Rs. 418 crore and has increased 115% since listing and in FY23, its revenue was Rs. 101 crore and Net Profits stood at Rs. 9 crore. It closed at Rs. 300.7, up 5% from its previous close.

CFF Fluid Control Ltd: 

CFF Fluid Control manufactures, overhauls, repairs, and maintains shipboard machinery, combat systems, reference systems, and test facilities for submarines and surface ships for the Indian navy. The company was incorporated in 2012 and is headquartered in Mumbai, India. 

The stock has a market cap of Rs. 820 crore and has increased 152.78% since listing and in FY22, its revenue was Rs. 47 crore and Net Profits stood at Rs. 8 crore. It closed at Rs. 420, down 0.2% from its previous close.

Written by Sandeep R

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