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The Indian stock market witnessed a flurry of successful initial public offerings (IPOs) in recent times, with several companies delivering impressive multibagger returns to investors. One such remarkable debut was made by Bajaj Housing Finance, a leading player in the housing finance sector. The company's shares were listed at ₹150 each on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 16, marking a staggering 114.29 per cent premium over its issue price of ₹70 per share. The stock continued its upward trajectory, surging an additional 10 per cent in intra-day trading on September 17, reaching a new high of ₹181.48, bringing the total rally to over 159 per cent from its IPO price.
Bajaj Housing Finance's IPO, which ran from September 9 to 11, was oversubscribed 63.61 times, with bids for more than 4,628 crore equity shares against the 72.75 crore shares on offer. The applications were valued at nearly ₹3.24 lakh crore, reflecting a strong investor appetite for the company's shares. The successful debut of Bajaj Housing Finance is a testament to the robust growth prospects of the housing finance sector in India, driven by increasing urbanization, rising disposable incomes, and favorable government policies.
The success of Bajaj Housing Finance is not an isolated case. Several other IPOs have delivered strong multibagger listings, attracting significant investor interest and generating handsome returns. Here's a look at eight such stocks that have made their mark since 2021.
Premier Energies, a prominent player in the solar cell and module manufacturing sector, made a remarkable debut on September 3, 2024. Its shares were listed at ₹990 on the NSE, representing a substantial 120 per cent premium over its issue price of ₹450. The stock has continued its upward trajectory and is currently trading nearly 147 per cent above its IPO price. This strong performance reflects investor confidence in the company's growth prospects in the burgeoning renewable energy market.
Unicommerce eSolutions, a leading provider of e-commerce solutions and technology, had a stellar stock market debut on August 13, 2024. The shares were listed at ₹235 per share on the NSE, marking a 117.59 per cent premium over the issue price of ₹108. The BSE listing price was ₹230, a 112.96 per cent premium. The stock has since surged over 124 per cent from its IPO price, demonstrating the strong investor interest in the company's expertise and its robust growth trajectory in the e-commerce space.
BLS E-Services, a prominent outsourcing and business services sector player, made an impressive stock market debut on February 6, 2024. The shares were listed at ₹305 per share on the NSE, a 125.93 per cent gain over the issue price of ₹135. The BSE listed price was ₹309, reflecting a 128.89 per cent premium. Despite some subsequent corrections, the stock still trades approximately 95 per cent higher than its IPO price, highlighting the company's expanding business model and growth potential.
These examples demonstrate the robust performance of IPOs in the Indian stock market, reflecting investor confidence in the growth prospects of various sectors. The strong demand for these IPOs and their subsequent multibagger returns indicate a positive sentiment among investors, driving the Indian stock market to new heights. As the Indian economy continues to grow and various sectors expand, IPOs are likely to play an increasingly crucial role in capital raising and driving growth in the years to come.