Multibagger IPO: BSE SME stock turns ₹1.17 lakh of allottees into ₹6.4 lakh in 1.5 years; check details

Multibagger IPO: The stock has rewarded patient investors as it surged 448 per cent with respect to its issue price until the closing of October 14, 2024. It hit its 52-week high of 452.70 on October 3 after hitting a 52-week low of 58.20 on June 4 this year.

Nishant Kumar
Updated15 Oct 2024, 03:20 PM IST
Advertisement
Multibagger IPO: BSE SME stock turns ₹1.17 lakh of allottees into ₹6.4 lakh in 1.5 years; check details(Pixabay)

SME IPO: As the Indian capital market buzzes with a surge of small and medium-sized enterprises (SME) initial public offerings (IPOs), marked by strong investor interest yet lacklustre performances, it’s the perfect moment to hit rewind and revisit some of the past IPOs that truly delivered impressive returns for investors, proving their worth amid the current market frenzy.

Take, for instance, a book-built IPO worth 50.10 crore that made its debut in the Indian primary market on March 9, 2023, closing on March 14 with a modest subscription of just 1.06 times. Despite its lukewarm reception, this stock took everyone by surprise post-listing on March 22, 2023, skyrocketing by an astounding 448 per cent over the past 1.5 years, proving that even the quietest entries can make the loudest impacts.

Advertisement

The stock we are talking about is Sudarshan Pharma Industries.

Multibagger IPO

Sudarshan Pharma Industries IPO opened for public subscription on March 9 last year with a price band of 71 to 73 per share. The issue saw a tepid response from investors as it was subscribed just 1.06 times. The minimum amount of investment required by retail investors was 1,16,800. The stock made a flat entry at 73 on the BSE SME on March 22 last year.

Sudarshan Pharma Industries share price trend

The stock has rewarded patient investors as it surged 448 per cent with respect to its issue price until the closing of October 14, 2024. It hit its 52-week high of 452.70 on October 3 after hitting a 52-week low of 58.20 on June 4 this year. On a monthly scale, it saw a massive gain of 124 per cent last month. However, it is witnessing some profit-making this month and has declined 5 per cent in October so far.

Advertisement

Since its market debut, this stock's impressive performance could have transformed a 1.17 lakh investment into a striking 6.4 lakh in just a little over a year and a half.

Sudarshan Pharma news

In an exchange filing on October 14, the company announced the acquisition of 2,09,100 shares of 10 each of Ishwari Healthcare Private Limited, equivalent to 51 per cent of the paid-up equity share capital of the company. Upon the completion of the acquisition, Ishwari Healthcare would become a subsidiary of the company.

Additionally, in a separate exchange filing on September 30, the company's board approved the proposal for a sub-division or split of its equity shares, presently having a face value of 10 each, into 10 equity shares of the company having a face value of 1.

Advertisement

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.

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.
First Published:15 Oct 2024, 03:20 PM IST
Business NewsMarketsStock MarketsMultibagger IPO: BSE SME stock turns ₹1.17 lakh of allottees into ₹6.4 lakh in 1.5 years; check details
OPEN IN APP
Read Next Story
HomeMarketsPremiumInstant LoanMint Shorts