Back₹40 to ₹170: Multibagger SME IPO gives 325% return to allottees in 5 years
Multibagger IPO was launched in December 2017 at a fixed price of ₹40 per equity share
PremiumMultibagger IPO: The initial public offer (IPO) of Dynamic Cables Ltd is one of the multibagger IPOs that BSE SME exchange has produced in last few years. Dynamic Cables IPO was launched in December 2022 at a fixed price band of ₹40 apiece while it is currently available at around ₹170 apiece levels. This means the BSE SME stock has delivered to the tune of 325 per cent to its allottees since its listing.
Dynamic Cables share price history
As mentioned above, this BSE SME stock has offered in December at a price band of ₹40 per equity share and one lot of the IPO was comprising 3,000 company shares. This means, an allottee had invested ₹1.20 lakh in this stock at the time of applying for the IPO. The BSE SME stock made its debut on BSE SME exchange on 14th December 2017. The BSE SME stock listed at ₹48 apiece levels, delivering 20 per cent listing premium to its allottees. However, if an allottee had remained in the scrip after strong debut of shares till date, its ₹1.20 lakh would have ascended 4.25 times today.
₹1.20 lakh turns to ₹5.10 lakh
As said above, if an allottee had remained invested in this BSE SME stock till today after strong listing of shares, its ₹1.20 lakh would have ascended by 4.25 times. This means one's ₹1.20 lakh would have turned to ₹5.10 lakh today.
In Q2FY23 results, this Jaipur-based cable manufacturer reported a sale of ₹173.4 crore, a healthy growth of 30 per cent YoY. In the quarter gone by, this SME company received major breakthrough in its MVCC product and upgradation in RDSO vendor category, which will play important role in driving growth of the company. The profits of the company were flat sequentially at ₹7.2 crore despite a challenging environment due to high volatility in key raw material prices and step-up investment in product development. The management has guided bottoming of operating margins and improvement in profitability going forward. Company also announced appointment of Bharat Moossaddee as an Independent Director.
Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
