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Business News/ Markets / Stock Markets/  Multibagger IPO: BSE SME stock Khazanchi Jewellers gives 140% return to allottees in nine months
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Multibagger IPO: BSE SME stock Khazanchi Jewellers gives 140% return to allottees in nine months

Multibagger SME IPO was launched in July 2023 at a fixed price of ₹140 per equity share

Khazanchi Jewellers share price today is ₹340 per share on BSE. (Photo: Courtesy Khazanchi Jewellers website)Premium
Khazanchi Jewellers share price today is 340 per share on BSE. (Photo: Courtesy Khazanchi Jewellers website)

Multibagger IPO: Shares of Khazanchi Jewellers Ltd are one of the multibagger SME stocks that the Indian stock market has delivered in recent years. Khazanchi Jewellers is one of those SME IPOs that have emerged multibagger returns to its allottees. Khazanchi Jewellers IPO was launched at a fixed price of 140 apiece in July 2023 and the multibagger SME stock is currently quoting at 340, which is around 140 percent above its issue price. So, if an allottee had remained invested in this SME stock to date, its net return would have been over 140 percent today.

Khazanchi Jewellers share price history

As mentioned above, Khazanchi Jewellers shares were offered by its promoters in their initial offer at 140 apiece. The SME stock was listed on the BSE SME exchange at 142.30 apiece and extended its listing gain further on the listing date. Khazanchi Jewellers share price ended on a listing date at 149.40 apiece. However, the bull run in this SME stock further continued as Khazanchi Jewellers share price today is 340 per share. So, if an allottee had remained invested in this SME company till date, its net return would have been more than 140 percent as its shareholding worth 140 per share would have rise to 340 apiece i.e. 200 per share net profit.

Why promoters are raising stake?

It would be interesting to know that promoters of the company are continuously raising their stake in the company. In the September 2023 quarter, promoters raise their stake in the company from 72.08 percent to 73.68 percent. They further raise their shareholding in the company in March 2024 quarter to 74.51 percent.

Speaking on the reason for raising stake, Rajesh Mehta, Chief Operating Officer at Khazanchi Jewellers said, "company's promoters are very bullish about the long-term India growth story. If India has to become a strong economy in the global order, then gold will be the most important currency, and jewellery industry is going to be the best industry in the times to come."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 22 Apr 2024, 02:58 PM IST
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