Multibagger IPO: NSE SME stock Quicktouch Technologies turns ₹1.22 lakh to ₹4.12 lakh in six months
- Multibagger IPO: NSE listed company has declared fund raise to the tune of over ₹215 crore via issiance of preferential shares
Multibagger IPO: The initial public offering (IPO) of Quicktouch Technologies Limited is one of the multibagger IPOs that Indian primary market has delivered in 2023. This NSE SME IPO was launched in April 2023 at a fixed price of ₹61 per equity share. Quicktouch Technologies Limited IPO listed on NSE SME Exchange platform on 2nd May 2023 at ₹92 apiece, deliering more than 50 per cent listing premium to the lucky allottees.
However, if an allottee had remained invested in this NSE stock despite strong listing, the absolute value of one's investment would have grown around 250 per cent in this near six months of post-listing time. In fact, this NSE stock has delivered multibagger return after listing at ₹92 apiece levels as Quicktouch Technologies Limited share price today is around ₹206 apiece levels on NSE.
Quicktouch Technologies share price history
As mentioned above, Quicktouch Technologies Limited IPO was launched in April 2023 at a fixed price of ₹61 per equity share. The public issue opened for bidding on 18th April 2023 and it remained open for bidders till 21st April 2023. The public issue received strong response by investors as it was overall subscribed over 100 times. It was subscribed close to 50 times in retail segment.
After strong response by investors, the SME stock listed on NSE SME Emerge platform at a whopping 50 per cent premium. However, the SME stock didn't end here only. After strong debut on Dalal Street, Quicktouch Technologies share price continue to scale new highs and went on to hit life-time high of ₹274. However, it retraced from these higher levels and currently Quicktouch Technologies share price is quoting around ₹206 per share.
₹1.22 lakh turns to ₹4.12 lakh in six months
Quicktouch Technologies IPO lot size comprised 2000 company shares. As Quicktouch Technologies IPO price was fixed at ₹61 per equity share, this means minimum investment of an allottee in this SME IPO would be ₹1.22 lakh ( ₹61 x 2000). As Quicktouch Technologies share price today is ₹206, avsolute value of an allottee's investment in this multibagger stock would have been ₹4.12 lakh today [( ₹206/61) x ₹1,22,000].
So, the multibagger IPO has turned ₹1.22 lakh of an allottee into ₹4.12 lakh in near six months.
Quicktouch Technologies news
The board of directors of the NSE listed company has declared fund raise via issuance of preferential shares. The SME stock has declared preferential issue at a price of ₹196.17 per equity share to raise ₹2,15,78,70,000 (Two Hundred Fifteen Crores Seventy Eight Lakhs Seventy Thousand Only).
Quicktouch Technologies Ltd informed Indian stock market bourses about the preferential issues citing, "Pursuant to the Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Board of Directors of the Company at its meeting held on Thursday, November, 2023 at 5.00 P.M and concluded at 07:00 P.M. at the Registered Office of the Company, has considered and approved to issue upto 1,10,00,000 (One Crore and Ten Lakhs) warrants each convertible into, or exchangeable for, 1 (one) fully paid up equity share of the Company, having a face value of INR 10/- (Rupee Ten only) within the period of 18 (eighteen months) in accordance with the applicable laws ("Warrants") at an issue price of 196.17/- (Rupees One Ninety Six and Seventeen Paisa only) each payable in cash aggregating amount of up to 215,78,70,000 (Rupees Two Hundred Fifteen Crores Seventy Eight Lakhs Seventy Thousand Only) to the Promoter/ Promoter Group of the Company and certain identified non promoter persons / entity (as listed in Annexure I herein) by way of preferential issue in accordance with the provisions of Section 42 and Section 62(1)(c) of the Companies Act, 2013, as amended ("Act") read with Companies (Prospectus and Allotment of Securities) Rules, 2014, and Companies (Share Capital and Debentures) Rules, 2014 as amended ("Rules"), Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, SEBI (LODR) Regulations, 2015 and such other acts / rules / regulations as may be applicable and subject to necessary approval of the members of the Company and other regulatory authorities, as maybe applicable ("Warrants Issue"). Upon issue of Warrants in accordance herewith, an amount equivalent to 25% (twenty five per cent) of the total issue size shall be called upfront from the proposed allottees."
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