Back6 stocks listed in November 2022 surged between 50% and 321% over their issue prices; check full list here
Kaynes Technology India has experienced a one-way spike since its listing, and it is now up by 321% at ₹2,474 apiece as against its issue price.
PremiumSix out of the nine stocks (excluding SMEs) that debuted in November 2022 are currently flourishing with gains between 50% and 321%.
Kaynes Technology India stood at the top of the list. The stock, which went public on November 22, 2022, enjoyed a great debut, opening at an almost 32% premium at ₹778 compared to the issue price of ₹587 apiece. Later, it finished the first day with a 17.5% gain at ₹690.
The stock has experienced a one-way spike since its listing, and it is now up by 321% at ₹2,474 apiece as against its issue price. The IPO received a strong response from investors, as it was subscribed to 34 times. Since its listing, the stock closed all the following 12 months in the green, with May 2023 standing as the best performer with a gain of 45%.
Kaynes Technology is a leading end-to-end and IoT solutions-enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of Electronics System Design and Manufacturing (ESDM) services.
Global Health shares were next on the list, which rewarded their shareholders handsomely. The company, which operates and manages hospitals under the Medanta brand, was listed on the exchanges on November 16, 2022, at a premium of 19% and closed 24% higher than its IPO price on the first day.
Since its market debut, the stock has consistently displayed an upward trajectory, spiking to the current levels of ₹900 apiece, marking an extraordinary 169% increase over its IPO price of ₹336.
Also Read: Tata Technologies IPO: GMP remains steady. Price, lot size, other details
Similarly, Bikaji Foods also delivered stellar returns to the shareholders. The shares were listed on the stock exchanges on November 16, 2022, after raising ₹881 crore through its initial public offering.
Since its listing, the stock has maintained a steady upward movement, and it is currently trading at ₹553 apiece, an 84% premium to its IPO price of ₹300.
Bikaji Foods International is currently the third-largest ethnic snacks company in India and is among the fastest-growing companies in its segment. Apart from snacks, Bikaji is also the third-largest player in sweets and the second largest papad maker in India.
Also Read: Flood of tech IPOs to hit Street after elections
Likewise, Five Star Business Finance stock is trading 68.5% higher than its IPO price of ₹474 apiece. The stock made a muted debut on the exchanges on November 21, 2022, as it listed at a 3.4% premium at ₹490. However, the stock picked up steam in the following months, and on August 11, it touched a record high of ₹875.35 apiece.
Five Star Business provides secured business loans to micro-entrepreneurs and self-employed individuals in urban, semi-urban, and rural markets, operating in eight states and one union territory with 311 branches as of June 2022.
Other stocks, such as Fusion Micro Finance and DCX Systems, which hit the secondary market in November last year, are also trading over 50% higher than their issue prices.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
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