The initial-public-offering market in India is currently dazzling investors with its ability to generate rapid wealth, with recent listings successfully doubling investors' money.
Groww, the IPO of which closed on Nov. 7, debuted on Nov. 12 with 12% gains at listing. After the stellar listing, the scrip has returned over 15% gains to shareholders. The stock rose to a high of Rs 188.77 apiece on the NSE on Nov. 17, an 88% gain.
As revealed by Zerodha co-founder Nithin Kamath, approximately 20% of all IPO applications for rival Groww were placed by Zerodha customers.
There are other recent companies that have delivered such exceptional returns across sectors.
Stallion India Fluorochemicals Ltd. listed on Jan. 23 this year at an IPO price of Rs 90 per share and made a listing at Rs 120 per share. The D-Street debut came with a premium of 33.33%.
As of today, its share price is Rs 187, which is about 48% over the year. Investors saw the price soar to Rs 414.35 apiece as well over this period. This marked a 360% jump for investors who held the stock at the time.
Ather Energy's IPO was listed on May 6 this year at Rs 321 per share and initially traded at Rs 328 on the NSE, giving a listing gain of 2.18%.
The counter closed at Rs 672.80 apiece on Monday. This marks 122% gains for investors who have held onto the stock since its listing. The share price also rose to Rs 765.85 apiece over the one-year period as well.
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