Multibagger SME Energy IPO Offers 470% Return to Beneficiaries in 7 Months

Multibagger stock: Despite the global economy under pressure from the Covid-19 pandemic, the Indian stock market has produced a handful of multibagger stocks over the past two years. However, stellar performance is not limited to stocks alone. It includes various public issues, both in the main board and in the SME segment. The IPO (Initial Public Offering) of Kotyark Industries Ltd is one such public offering which was opened for subscription in October 2021 and listed on the SME Exchange on November 2, 2021. The public offering was launched at a fixed price range of 51 per share and Kotyark Industries stock price is today 291, about 470% more than its issue price.

Kotyark Industries IPO Details

As mentioned above, shares of Kotyark Industries Ltd were opened for subscription in October 2021 at a fixed price of 51 per share. The company has offered to list its shares on the SME stock exchange with the aim of raising 11.26 crores. The public issue was subscribed 7.15 times, but it had a par quotation at 51 per share. After being quoted at par, the public issue reached its intraday high of 51.90 per share. But the energy SME stock failed to sustain its gains and eventually ended at 48.45, which also settled its registration date. Kotyark Industries share price was listed on the NSE PME stock exchange on November 2, 2021.

A bidder has been allowed to apply for a batch and a batch required 1.02 lakh to apply for SME IPO.

Kotyark Industries stock price history

Despite the weakness in the secondary market these days, this biodiesel stock has given strong upward movement. Last Friday, when BSE Sensex crashed over 1,000 points, Kotyark Industries’ stock price soared about 7% to 291 levels. So if we compare Kotyark Industries stock price today with its issue price of 51, the stock is up 470% in almost 7 months.

Thus, if a beneficiary, who requested the public issue of investment 1.02 lakh at the time of the IPO, had remained invested in the stock till date, its 1.02 lakh would have turned into 5.82 lakh today.

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About Joan J. Hernandez

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