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Business News/ Markets / Stock Markets/  Multibagger SME IPO gives 300% return to allottees within one month of listing. 1.20 lakh turns to 5 lakh
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Multibagger SME IPO gives 300% return to allottees within one month of listing. ₹1.20 lakh turns to ₹5 lakh

Multibagger IPO was offered at ₹30 apiece in December 2022 and it listed at ₹57 apiece on BSE SME exchange

Multibagger stock has hit upper circuit on all 5 trade sessions in 2023. (MINT)Premium
Multibagger stock has hit upper circuit on all 5 trade sessions in 2023. (MINT)

Multibagger IPO: PNGS Gargi Fashion Jewellery shares listed on BSE SME exchange last month at a whopping premium of near 100 per cent against its issue price of 30 per equity share. However, the dream debut for the SME stock didn't end on the listing date only. The Multibagger IPO has went on to emerge multibagger stock within one month of its listing. One of the multibagger stocks delivered by the Indian stock market in recent times has given more than 300 per cent return to its those allottees who remained invested in the stock after dream debut of shares on 20th December 2022.

PNGS Gargi Fashion Jewellery share price history

The public issue of this fashion jewellery company was launched in December 2022 at a fixed price of 30 per equity share. Subscription for the SME IPO opened on 8th December 2022 and bidding for the issue closed on 13th December 2022. In four days listing, the SME issue got subscribed 230.94 times whereas its retail portion was subscribed 248.68 times. After strong response from investors, the public issue listed on BSE SME exchange on 20th December 2022 at 57 apiece and went on to climb to its listing date high of 59.85 apiece, delivering almost 100 per cent listing premium to its allottees.

After ushering in new year, this multibagger SME stock has hit upper circuit on all five trade sessions in 2023. If someone had bought PNGS Gargi Fashion Jewellery shares after listing, even his or her money would have doubled as the stock has surged from its listing price of 57 apiece to 129.35 apiece levels, delivering over 115 per cent to its shareholders in less than one month of its listing (14 trade sessions, including the listing date).

Impact on investment

A bidder was allowed to apply in lots and one lot of PNGS Gargi Fashion Jewellery IPO comprised 4000 company shares that means minimum investment of an allottee in the SME stock was 1.20 lakh.

1.20 lakh turns to 5 lakh

If an allottee had remained invested in this SME stock after strong debut, its 1.2 lakh would have turned into 5.174 lakh today.

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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: 06 Jan 2023, 10:59 AM IST
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