Market Debuts: 11 of 19 Stocks Trading Above Issue Price

New Delhi: As many as 11 companies that debuted on India's stock exchanges in last one year have given positive returns to investors and are trading way above their issue prices. A total of 19 firms have launched initial public offerings (IPOs) between September last year and September 2015, Centrum Wealth executive director and chief investment officer Kunj Bansal said. Of this, 11 firms have given smart returns to investors, while the remaining eight companies have been trading below their issue price. Among the new listings, Snowman Logistics has emerged as the most sought after stock. Shares in Snowman Logistics have spurted 80.21 per cent against their issue price of Rs 47. The stock is at present trading at Rs 84.70 on the BSE. Snowman Logistics is followed by VRL Logistics whose shares have given a positive return of 80 per cent to its investors. Its shares are currently at Rs 368.50 as compared to the issue price of Rs 205. Similarly, shares in Sharda Cropchem gained 57.4 per cent per cent over the issue price of Rs 156 while those in Shemaroo Entertainment climbed 57.5 per cent against the issue price of Rs 170. Also, shares in Syngene International shot up 41 per cent over the issue price of Rs 250, PNC Infratech rose 37 per cent against the issue price of Rs 378 and Manpasand Beverages increased 29 per cent over the issue price of Rs 320. Further, Prabhat Dairy, Shree Pushkar Chemicals & Fertilisers and Inox Wind too have rewarded investors with positive returns. "A large number of new issuances/listings have done well and are currently trading higher than their offer prices. This clearly shows that all is not negative in the market and there certainly have been some good return opportunities," Mr Bansal said. However, Adlabs Entertainment and Monte Carlo Fashions did nothing to excite markets and are sitting with more than 30 per cent loss each. Shares in Adlabs Entertainment, however, are trading way below the issue price of Rs 180. The stock is currently at Rs 105, down 42 per cent from the issue price. Besides, Monte Carlo shares have fallen 32 per cent over the issue price of Rs 645. The stocks of MEP Infrastructure Developers, UFO Moviez India, Pennar Engineered Building Systems and Power Mech Projects are trading below their respective issue prices.

Market Debuts: 11 of 19 Stocks Trading Above Issue Price

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