Multibagger IPO: This BSE SME issue gives 275% return to allottees in 3 months
Multibagger IPO: Shares of this SME company made stellar debut on BSE SME Exchange giving around 115 per cent premium to the allottees
Multibagger IPO: The public issue of Prevest Denpro Limited was listed on BSE SME Exchange on 27th September 2021. Price band of the company that manufactures and markets a range of dental materials was fixed at ₹82 to ₹84 and one lot of the public issue comprised 1600 company shares. The public issue opened on BSE SME Exchange at ₹180.55 apiece levels, giving more than 100 per cent listing premium to the allottees.
However, the BSE SME stock didn't stop there. In the last 3 months, the SME stock has surged further up to ₹314 per share levels, logging around 275 per cent rise against its upper price band of ₹84 per equity share. But, stock market experts are still bullish on the SME counter and have given 'multibagger stocks for 2022' tag to this stock. They are expecting it to go up to ₹370 to ₹400 levels in next 2 months. They advised high risk traders to buy the BSE SME listed counter for this ₹400 target and advised allottees and other shareholders of the company to further hold the counter.
Multibagger IPO: Listing, share price history
The public issue we are talking about is Prevest Denpro. On 27th September 2021, Prevest Denpro shares made stellar debut on BSE SME Exchange after opening at ₹180.55 per share levels, around 115 per cent higher from its price band of ₹82 to ₹84 per equity share. After this dream debut, Prevest Denpro share price went on to rise further and ended at ₹189.55 per share levels on the listing date.
In last one month, this SME stock has risen from ₹215 to ₹314, yielding around 46 per cent to its shareholders. Similarly, in last 3 months, the stock has surged up to ₹314 per share levels, appreciating around 3.73 times against its issue price of ₹84.
Impact on investment
If an investor had applied for the IPO and had remained invested till date after share allotment, its ₹1,34,400 ( ₹84 x 1600) would have turned to around ₹50 lakh ( ₹134400 x 3.73).
If an investor had invested ₹1 lakh in this SME stock one month ago, its ₹1 lakh would have turned to ₹1.46 lakh today. If an investor had bought Prevest Denpro shares after listing by investing ₹1 lakh at the close price of the listing date i.e. ₹188.55 apiece, then its ₹1 lakh would have turned to ₹1.66 lakh today.
Prevest Denpro share price outlook
Advising high risk investors to add this SME stock in one’s portfolio, Sumeet Bagadia, Executive Director at Choice Broking said, "The stock still looks bullish on chart pattern. High risk investors can buy this stock at current levels for 2 month target of ₹370 to ₹400. However, one must maintain strict stop loss at ₹275 while taking this positional call."
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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