Home / Markets / Stock Markets31 to 169 in 5 years: SME stock makes IPO investors more than happy

Multibagger IPO: The initial public offering (IPO) of Servotech Power Systems Ltd is one of the multibagger IPOs that Dalal Street has produced in recent years. Servotech Power Systems IPO was launched in August 2017 at fixed price band of 31 apiece and the public issue was proposed for listing on NSE SME exchange. 

The SME stock has a par listing on SME exchange but after listing, the stock has delivered stellar return to its investors. If an IPO investor had remained invested in this SME stock till date after allotment of shares, its 1.24 lakh would have turned to 6.76 lakh today, delivering around 450 per cent return to IPO investors in last five years.

Servotech Power Systems bags BPCL order

The small-cap company is one of the newsmaker stocks today as the stock has hit upper circuit in early morning deals after the newsbreak of bagging Bharat Petroleum Corporation Limited (BPCL) order worth 46.2 crore. In its latest exchange filing, the EV charging solution company informed Indian stock market exchanges that the company has been awarded a major project by Bharat Petroleum Corporation Limited (BPCL) to supply and install 800 units of DC fast EV Chargers at different locations across the country in the next four months.

"As part of this project, Servotech will take care of installation, commissioning, and maintenance of DC fast chargers at a range of locations involving BPCL’s retail sites and fuel and gas stations, as suggested by BPCL. The project will help ensure the deployment of e-mobility touchpoints that address transactions, availability, discovery, and navigation in order to give users of electric vehicles easy access to the charging network," the small-cap company claimed.

The project execution involves supplying a series of EV Chargers has already been initiated from the state of Delhi, is worth Rs. 46.2 crores and is expected to be completed by 31st March, 2023. The project will span across the country, equipping petrol pumps in major Indian cities with EV Charging capabilities on its course.

Servotech Power Systems share price history

Servotech Power Systems shares have a history of giving whopping return to its shareholders. In last six months, this SME stock has almost doubled shareholders money by surging form 85 to 169 apiece levels. In YTD time, it is one of the multibagger stocks that Indian stock market has produced. In 2022, this multibagger SME stock has delivered more than 110 per cent return to its shareholders.

Multibagger IPO

As mentioned above, Servotech Power Systems IPO has delivered whopping return to its IPO investors. The IPO was offered at fixed price of 31 apiece and it has surged to 169 apiece levels in last five years, delivering to the tune of 450 per cent return to its IPO investors. Hence, this public issue is one of the multibagger IPOs produced by Indian primary market in recent years.

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Asit Manohar

Chief Content Producer at Live Mint Digital Team
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